Question 1

A system of performance measures,including nonfinancial measures,used to assess company and division manager performance is:

Accepted Answer

A) Hurdle rate. 
B) Return on investment. 
C) Balanced scorecard. 
D) Residual income. 
E) Investment turnover. 
A) Hurdle rate. 
B) Return on investment. 
C) Balanced scorecard. 
D) Residual income. 
E) Investment turnover.

Question 2

The amount by which a department's revenues exceed its direct expenses is:

Accepted Answer

A) Net sales. 
B) Gross profit. 
C) Departmental profit. 
D) Contribution margin. 
E) Departmental contribution to overhead. 
A) Net sales. 
B) Gross profit. 
C) Departmental profit. 
D) Contribution margin. 
E) Departmental contribution to overhead.

Question 3

Using the information below,compute the manufacturing cycle time: $$\begin{array} { | l | r | } 
\hline \text { Process time } & 6.0 \text { hours } \
\hline \text { Inspection time } & .5 \text { hours } \
\hline \text { Move time } & .6 \text { hours } \
\hline \text { Wait time } & .9 \text { hours } \
\hline \text { Warehouse storage time } & 72.0 \text { hours } \
\hline
\end{array}$$

Accepted Answer

A) 7.5 hours. 
B) 6.5 hours. 
C) 8.0 hours. 
D) 80.0 hours. 
E) 7.1 hours. 
A) 7.5 hours. 
B) 6.5 hours. 
C) 8.0 hours. 
D) 80.0 hours. 
E) 7.1 hours.

A system of performance measures,including nonfinancial measures,used to assess company and division manager performance is:

The amount by which a department's revenues exceed its direct expenses is:

Using the information below,compute the manufacturing cycle time: Process time 6.0 hours Inspection time .5 hours Move time .6 hours Wait time .9 hours Warehouse storage time 72.0 hours

Accounting in Business

Analyzing and Recording Transactions

Adjusting Accounts and Preparing Financial Statements

Completing the Accounting Cycle

Accounting for Merchandising Operations

Accounting Information Systems

Cash and Internal Controls

Accounting for Receivables

Plant Assets, natural Resources, and Intangibles

Current Liabilities and Payroll Accounting

Accounting for Partnerships

Accounting for Corporations

Long-Term Liabilities

Investments and International Operations

Reporting the Statement of Cash Flows

Analysis of Financial Statements

Managerial Accounting Concepts and Principles

Job Order Costing

Process Costing

Cost-Volume-Profit Analysis

Master Budgets and Planning

Flexible Budgets and Standard Costs

Capital Budgeting and Managerial Decisions

Time Value of Money B

Activity-Based Costing C

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Exam 24: Performance Measurement and Responsibility Accounting

A system of performance measures,including nonfinancial measures,used to assess company and division manager performance is:

The amount by which a department's revenues exceed its direct expenses is:

Using the information below,compute the manufacturing cycle time: Process time 6.0 hours Inspection time .5 hours Move time .6 hours Wait time .9 hours Warehouse storage time 72.0 hours

Accounting in Business

Analyzing and Recording Transactions

Adjusting Accounts and Preparing Financial Statements

Completing the Accounting Cycle

Accounting for Merchandising Operations

Accounting Information Systems

Cash and Internal Controls

Accounting for Receivables

Plant Assets, natural Resources, and Intangibles

Current Liabilities and Payroll Accounting

Accounting for Partnerships

Accounting for Corporations

Long-Term Liabilities

Investments and International Operations

Reporting the Statement of Cash Flows

Analysis of Financial Statements

Managerial Accounting Concepts and Principles

Job Order Costing

Process Costing

Cost-Volume-Profit Analysis

Master Budgets and Planning

Flexible Budgets and Standard Costs

Capital Budgeting and Managerial Decisions

Time Value of Money B

Activity-Based Costing C

Filters