Question 1

In a decision relating to the possible elimination of a department consideration needs to be given to all of the following except:

Accepted Answer

A)  unavoidable expenses. 
B)  alternative uses of the space currently occupied. 
C)  whether all of the direct operating expenses are avoidable. 
D)  adverse effects of the elimination on sales of other departments. 
A)  unavoidable expenses. 
B)  alternative uses of the space currently occupied. 
C)  whether all of the direct operating expenses are avoidable. 
D)  adverse effects of the elimination on sales of other departments.

Question 2

Which of the following could be cost objects?
I. A product
II. An activity
III. A department
IV. A specialised item of equipment

Accepted Answer

A)  II, III and IV only. 
B)  I, II, and IV only. 
C)  I, II, III and IV. 
D)  I and II only. 
A)  II, III and IV only. 
B)  I, II, and IV only. 
C)  I, II, III and IV. 
D)  I and II only.

Question 3

Compute the correct variances: budgeted sales $95 000: actual sales $79 000. Actual direct materials $33 000: budgeted direct materials $28 000.

Accepted Answer

A)  Sales variance $16 000 U: direct materials variance $5 000 U 
B)  Sales variance $16 000 U: direct materials variance $5 000 F 
C)  Sales variance $67 000 F: direct materials variance $46 000 F 
D)  Sales variance $67 000 U: direct materials variance $46 000 F 
A)  Sales variance $16 000 U: direct materials variance $5 000 U 
B)  Sales variance $16 000 U: direct materials variance $5 000 F 
C)  Sales variance $67 000 F: direct materials variance $46 000 F 
D)  Sales variance $67 000 U: direct materials variance $46 000 F

In a decision relating to the possible elimination of a department consideration needs to be given to all of the following except:

Which of the following could be cost objects? I. A product II. An activity III. A department IV. A specialised item of equipment

Compute the correct variances: budgeted sales $95 000: actual sales $79 000. Actual direct materials $33 000: budgeted direct materials $28 000.

Decision Making and the Role of Accounting

Financial Statements for Decision Making

Recording Transactions

Adjusting the Accounts and Preparing Financial Statements

Completing the Accounting Cycle Closing and Reversing Entries

Accounting for Retailing

Accounting for Systems

Partnerships: Formation, Operation and Reporting

Companies: Formation and Operations

Regulation and the Conceptual Framework

Cash Management and Control

Receivables

Inventories

Non-Current Assets: Acquisition and Depreciation

Non-Current Assets: Revaluation, Disposal and Other Aspects

Liabilities

Presentation of Financial Statements

Statement of Cash Flows

Analysis and Interpretation of Financial Statements

Accounting for Manufacturing

Cost Accounting Systems

Cost-Volume-Profit Analysis for Decision Making

Budgeting for Planning and Control

Differential Analysis, Profitability Analysis and Capital Budgeting

Filters

Exam 24: Performance Evaluation for Managers

In a decision relating to the possible elimination of a department consideration needs to be given to all of the following except:

Which of the following could be cost objects? I. A product II. An activity III. A department IV. A specialised item of equipment

Compute the correct variances: budgeted sales $95 000: actual sales $79 000. Actual direct materials $33 000: budgeted direct materials $28 000.

Decision Making and the Role of Accounting

Financial Statements for Decision Making

Recording Transactions

Adjusting the Accounts and Preparing Financial Statements

Completing the Accounting Cycle Closing and Reversing Entries

Accounting for Retailing

Accounting for Systems

Partnerships: Formation, Operation and Reporting

Companies: Formation and Operations

Regulation and the Conceptual Framework

Cash Management and Control

Receivables

Inventories

Non-Current Assets: Acquisition and Depreciation

Non-Current Assets: Revaluation, Disposal and Other Aspects

Liabilities

Presentation of Financial Statements

Statement of Cash Flows

Analysis and Interpretation of Financial Statements

Accounting for Manufacturing

Cost Accounting Systems

Cost-Volume-Profit Analysis for Decision Making

Budgeting for Planning and Control

Differential Analysis, Profitability Analysis and Capital Budgeting

Filters