Managerial Accounting Chapter 5 & 6

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Managerial Accounting Chapter 5 & 6 - Quiz

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Mar 21, 2023

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Jan 31, 2020

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Managerial Accounting Chapter 5 & 6

If the actual overhead is $152,000 and the flexible budget overhead for actual production is $151,000, the controllable overhead variance is Select one:

The labor rate variance calculation involves actual direct labor hours used in production. Select one:

Price lists are acceptable source documents in developing materials price standards. Select one:

The standard for direct labor for product C is three hours at $25 per hour. If the direct labor efficiency variance is $1500 unfavorable, how many units were produced? Select one:

Standards may be viewed by labor as too loose. Select one:

The standard for direct materials for product A is 6 ft.² at $10 per square foot. If a firm produces 100 units of product A and uses 600 ft.² at $11 per square foot, the materials price variance is Select one:

To calculate the controllable overhead variance actual overhead costs are needed. Select one:

Activity-based costing gives more information with respect to Select one:

The standard for direct materials for product A is 6 ft.² at $10 per square foot. If a firm produces 100 units of product A and uses 600 ft.² at $11 per square foot, the materials quantity variance is

The overhead variance between the actual production and the anticipated production is Select one:

Acquisition costs include the cash payments that are required for ownership and any subsequent expenditures required to extend the life of the asset such as a major overhaul. Select one:

Qualitative considerations are as important as cash flow in investment decisions. Select one:

Variables common to all investments are: Select one:

John Guy is saving for a new boat. He needs $60,000. How much money should he put in a savings account that compounds at 8% to have $60,000? (Round to the nearest dollar).

If an investment’s net present value is zero, then it's IRR must also be zero. Select one:

Jeff Carter is saving for a new speedboat. The cost is $110,000. How much money must he put in a savings account that compounds at 4% annually to have $110,000 in 7 years? (Round to the nearest dollar).

Capital gains are tax consequences of the sale of an old asset if Select one:

If the hurdle rate used to discount a stream of cash flows is raised, the IRR of the cash stream will Select one:

Since a firm must outlay cash to acquire assets, their return should be evaluated with the same terms (cash). Select one:

Unless an addition to working capital is permanent, it should not be considered among the cash flows of a capital budget. Select one: