Question 1

Why is developing product costs in a large company such a time-consuming task? Why is an integrated system an advantage?

Accepted Answer

There may be thousands of complicated products,and the task of gathering the required information and insuring its accuracy can be a major challenge.An integrated system is an advantage because timely,accurate information is available in the system.

Question 2

How does ERP facilitate "drilling down" to see the details of transaction data?

Accepted Answer

(1)Transaction details are associated with their document number.Click the number,see the details.(2)Numbers are linked in an audit trail,so that details can be shown in sequence or other relationship.(3)Further,document flow data is available from any SAP ERP screen.

Question 3

ERP systems help in resolving conflicts in goals,standardizing basic processes,and controlling product costs.

Accepted Answer

A) True 
 B)False  True

Question 4

If the cost of manufacturing NRG-A bars is $0.72 per bar,how much does FS need to charge to make a profit of $0.25?

Accepted Answer

A) $1.00 
B) $0.99 
C) $0.97 
D) $1.25 
A) $1.00 
B) $0.99 
C) $0.97 
D) $1.25

Question 5

Figure 1
-Figure 1 is Fitter Snacker's ____.

Accepted Answer

A) Balance Sheet 
B) Income Statement 
C) Credit Report 
D) Document Flow 
A) Balance Sheet 
B) Income Statement 
C) Credit Report 
D) Document Flow

Question 6

Assume a company has many foreign-based subsidiaries.In what ways can ERP improve preparation of consolidated financial statements?

Accepted Answer

Accounts stated in another country's cur

Question 7

Describe the general ledger with regard to SAP ERP.

Accepted Answer

In the SAP ERP system,input to

Question 8

If Fitter Snacker's cost of making a case of bars is $209.82.There are 24 bars to a box and 12 boxes to a case.How much money does it cost Fitter Snacker to make each individual bar?

Accepted Answer

A) $17.49 
B) $1.00 
C) $8.74 
D) $0.73 
A) $17.49 
B) $1.00 
C) $8.74 
D) $0.73

Question 9

What is the sum of direct materials,production overhead,and direct labor?

Accepted Answer

A) COGM - cost of goods manufactured 
B) COGS - cost of goods sold 
C) COGP - cost of goods produced 
D) COGS - cost of goods shipped 
A) COGM - cost of goods manufactured 
B) COGS - cost of goods sold 
C) COGP - cost of goods produced 
D) COGS - cost of goods shipped

Question 10

The key pieces of information for cost analysis is the direct material costs and the ____.

Accepted Answer

A) direct labor cost 
B) overhead cost 
C) driver cost 
D) selling cost 
A) direct labor cost 
B) overhead cost 
C) driver cost 
D) selling cost

Question 11

In activity-based costing,overhead costs are assigned to products based on the manufacturing activities that gave rise to the costs.

Accepted Answer

A) True 
 B)False

Question 12

Any business events that occur between companies and their subsidiaries are known as ____________________.

Accepted Answer

intercompa

Question 13

The process of transferring balances for temporary or nominal accounts,such as revenue,expense,gain,and loss,to the retained earnings account is called ____.

Accepted Answer

A) cost accounting 
B) account closure 
C) periodic closure 
D) closing the books 
E) statement wrap-up 
A) cost accounting 
B) account closure 
C) periodic closure 
D) closing the books 
E) statement wrap-up

Question 14

With a properly configured and managed ERP system,there are direct links between the company's ____________________ and individual transactions that make up the statements,so that fraud and abuse can be detected more easily.

Accepted Answer

financial

Question 15

What is the advantage to credit management in SAP ERP?

Accepted Answer

A) Marketing and Sales get weekly reports. 
B) The data is in real-time. 
C) Payments are posted daily. 
D) There is no advantage. 
A) Marketing and Sales get weekly reports. 
B) The data is in real-time. 
C) Payments are posted daily. 
D) There is no advantage.

Question 16

An income statement shows a company's profit or loss in a period of time.

Accepted Answer

A) True 
 B)False

Question 17

SAP ERP has sophisticated user administration tools that allow different levels of authorization management,to ensure that employees can perform only the transactions required for their jobs.

Accepted Answer

A) True 
 B)False

Question 18

Another name for an income statement is a profit and loss statement.

Accepted Answer

A) True 
 B)False

Question 19

Another name for an income statement is a ____ statement.

Accepted Answer

A) credit 
B) profit and loss 
C) sales 
D) revenue 
A) credit 
B) profit and loss 
C) sales 
D) revenue

Question 20

Having ERP will require a company to restrict the number of cost allocation bases.

Accepted Answer

A) True 
 B)False

Why is developing product costs in a large company such a time-consuming task? Why is an integrated system an advantage?

How does ERP facilitate "drilling down" to see the details of transaction data?

ERP systems help in resolving conflicts in goals,standardizing basic processes,and controlling product costs.

If the cost of manufacturing NRG-A bars is $0.72 per bar,how much does FS need to charge to make a profit of $0.25?

Figure 1 -Figure 1 is Fitter Snacker's ____.

Assume a company has many foreign-based subsidiaries.In what ways can ERP improve preparation of consolidated financial statements?

Describe the general ledger with regard to SAP ERP.

If Fitter Snacker's cost of making a case of bars is $209.82.There are 24 bars to a box and 12 boxes to a case.How much money does it cost Fitter Snacker to make each individual bar?

What is the sum of direct materials,production overhead,and direct labor?

The key pieces of information for cost analysis is the direct material costs and the ____.

In activity-based costing,overhead costs are assigned to products based on the manufacturing activities that gave rise to the costs.

Any business events that occur between companies and their subsidiaries are known as ____________________.

The process of transferring balances for temporary or nominal accounts,such as revenue,expense,gain,and loss,to the retained earnings account is called ____.

With a properly configured and managed ERP system,there are direct links between the company's ____________________ and individual transactions that make up the statements,so that fraud and abuse can be detected more easily.

What is the advantage to credit management in SAP ERP?

An income statement shows a company's profit or loss in a period of time.

SAP ERP has sophisticated user administration tools that allow different levels of authorization management,to ensure that employees can perform only the transactions required for their jobs.

Another name for an income statement is a profit and loss statement.

Another name for an income statement is a ____ statement.

Having ERP will require a company to restrict the number of cost allocation bases.

Business Functions and Business Processes

The Development of Enterprise Resource Planning Systems

Marketing Information Systems and the Sales Order Process

Production and Supply Chain Management Information Systems

Human Resources Processes With Erp

Process Modeling, process Improvement, and ERP Implementation

RFID, business Intelligence Bi, mobile Computing, and the Cloud

Filters

Exam 5: Accounting in Erp Systems

Why is developing product costs in a large company such a time-consuming task? Why is an integrated system an advantage?

How does ERP facilitate "drilling down" to see the details of transaction data?

ERP systems help in resolving conflicts in goals,standardizing basic processes,and controlling product costs.

If the cost of manufacturing NRG-A bars is $0.72 per bar,how much does FS need to charge to make a profit of $0.25?

Figure 1 -Figure 1 is Fitter Snacker's ____.

Assume a company has many foreign-based subsidiaries.In what ways can ERP improve preparation of consolidated financial statements?

Describe the general ledger with regard to SAP ERP.

If Fitter Snacker's cost of making a case of bars is $209.82.There are 24 bars to a box and 12 boxes to a case.How much money does it cost Fitter Snacker to make each individual bar?

What is the sum of direct materials,production overhead,and direct labor?

The key pieces of information for cost analysis is the direct material costs and the ____.

In activity-based costing,overhead costs are assigned to products based on the manufacturing activities that gave rise to the costs.

Any business events that occur between companies and their subsidiaries are known as ____________________.

The process of transferring balances for temporary or nominal accounts,such as revenue,expense,gain,and loss,to the retained earnings account is called ____.

With a properly configured and managed ERP system,there are direct links between the company's ____________________ and individual transactions that make up the statements,so that fraud and abuse can be detected more easily.

What is the advantage to credit management in SAP ERP?

An income statement shows a company's profit or loss in a period of time.

SAP ERP has sophisticated user administration tools that allow different levels of authorization management,to ensure that employees can perform only the transactions required for their jobs.

Another name for an income statement is a profit and loss statement.

Another name for an income statement is a ____ statement.

Having ERP will require a company to restrict the number of cost allocation bases.

Business Functions and Business Processes

The Development of Enterprise Resource Planning Systems

Marketing Information Systems and the Sales Order Process

Production and Supply Chain Management Information Systems

Human Resources Processes With Erp

Process Modeling, process Improvement, and ERP Implementation

RFID, business Intelligence Bi, mobile Computing, and the Cloud

Filters