Answer the following questions using the information below: Cathfree Inc.expects to sell 35 000 athletic uniforms for $70 each in 2018.Direct materials costs are $20,direct manufacturing labour is $8,and manufacturing overhead is $6 for each uniform.The following inventory levels apply to 2017: \[\begin{array} { l r r } & \text { Beginning inventory } & \text { Ending inventory } \\ \text { Direct materials } & 12000 \text { units } & 10000 \text { units } \\ \text { Work-in-process inventory } & 0 \text { units } & 0 \text { units } \\ \text { Finished goods inventory } & 6000 \text { units } & 5000 \text { units } \end{array}\] -How many uniforms need to be produced in 2018?

A) 29 000 uniforms B) 34 000 uniforms C) 35 000 uniforms D) 26 000 uniforms A) 29 000 uniforms B) 34 000 uniforms C) 35 000 uniforms D) 26 000 uniforms

Exam 11: Budgeting, Management Control and Responsibility Accounting

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Answer the following questions using the information below: Cathfree Inc.expects to sell 35 000 athletic uniforms for $70 each in 2018.Direct materials costs are $20,direct manufacturing labour is $8,and manufacturing overhead is $6 for each uniform.The following inventory levels apply to 2017: Beginning inventory Ending inventory Direct materials 12000 units 10000 units Work-in-process inventory 0 units 0 units Finished goods inventory 6000 units 5000 units -How many uniforms need to be produced in 2018?

(Multiple Choice)

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Question 201

A limitation of comparing a company's performance against actual results of last year is that:

(Multiple Choice)

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Question 202

The fundamental purpose of responsibility accounting is to fix blame when budgets are not achieved.

(True/False)

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Question 203

At the end of the financial year,managers and management accountants take into account which of the following as they begin to make plans for the next period?

(Multiple Choice)

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Question 204

Vast quantities of information about the materials,machines and equipment,labour,power,maintenance and set-ups needed to manufacture different products can be stored in ________ systems.

(Multiple Choice)

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Question 205

________ is the usual starting point for budgeting.

(Multiple Choice)

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Question 206

A maintenance manager is MOST likely responsible for a(n):

(Multiple Choice)

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Question 207

Molonglo Industries produces two products,Deluxe and Supreme.Molonglo expects to sell 10 000 units of product Supreme and to have an inventory of 2000 units of Supreme on hand at the end of the period.Currently,Molonglo has 800 units of Supreme on hand.Supreme requires two labour operations,moulding and polishing.Each unit of Supreme requires one hour of moulding and two hours of polishing.The direct labour rate for moulding is $20 per moulding hour and the direct labour rate for polishing is $25 per polishing hour.The expected cost of direct labour for Supreme is:

(Multiple Choice)

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Question 208

Financing decisions PRIMARILY deal with:

(Multiple Choice)

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Question 209

Responsibility centres include all of the following EXCEPT:

(Multiple Choice)

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Question 210

The sales forecast is influenced by:

(Multiple Choice)

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Question 211

Molonglo Manufacturing produces two products,Deluxe and Supreme.Molonglo expects to sell 20 000 units of Deluxe and 10 000 units of Supreme.Molonglo plans on having an ending inventory of 4000 units of Deluxe and 2000 units of Supreme.Currently,Molonglo has 1000 units of Deluxe in its inventory and 800 units of Supreme.Each product requires two labour operations: moulding and polishing.Product Deluxe requires one hour of moulding time and one hour of polishing time.Product Supreme requires one hour of moulding time and two hours of polishing time.The direct labour rate for moulders is $20 per moulding hour,and the direct labour rate for polishers is $25 per polishing hour. Required: Prepare a direct labour budget in hours and dollars for each product.

(Essay)

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Question 212

Financial planning models:

(Multiple Choice)

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Question 213

Budgetary slack provides management with a hedge against unexpected adverse circumstances.

(True/False)

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Question 214

Which of the following do challenging budgets tend to do?

(Multiple Choice)

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Question 215

Showing 201 - 215 of 215

A limitation of comparing a company's performance against actual results of last year is that:

The fundamental purpose of responsibility accounting is to fix blame when budgets are not achieved.

At the end of the financial year,managers and management accountants take into account which of the following as they begin to make plans for the next period?

Vast quantities of information about the materials,machines and equipment,labour,power,maintenance and set-ups needed to manufacture different products can be stored in ________ systems.

________ is the usual starting point for budgeting.

A maintenance manager is MOST likely responsible for a(n):

Financing decisions PRIMARILY deal with:

Responsibility centres include all of the following EXCEPT:

The sales forecast is influenced by:

Financial planning models:

Budgetary slack provides management with a hedge against unexpected adverse circumstances.

Which of the following do challenging budgets tend to do?

Management Accounting in Context

Different Costs for Different Purposes

Determining How Costs Behave

Costvolumeprofit Analysis

Estimating the Cost of Producing Services

Estimating the Costs of Products and Inventory

Target Costing, Managing Activities and Managing Capacity

Activity-Based Management and Activity-Based Costing

Pricing and Customer Profitability

Decision Making and Relevant Information

Flexible Budgets, Direct Cost Variances and Management Control

Flexible Budgets, Overhead Cost Variances and Management Control

Allocation of Support-Department Costs, Common Costs and Revenues

Strategy Formation, Strategic Control and the Balanced Scorecard

Quality, Time and the Balanced Scorecard

Inventory Management, Just-In-Time and Simplified Costing Methods

Capital Budgeting and Cost Analysis

Management Control Systems, Transfer Pricing and Multinational Considerations

Performance Measurement, Compensation and Multinational Considerations

Measuring and Reporting Sustainability

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