Alberta School of Business Department of Accounting OPERATIONS and Information systems Accounting 523 Section X50 winter 2013 Midterm Exam Last Name First Name I.D. Number INSTRUCTIONS 1. Read these instructions carefully. 2. You must hand in this exam booklet before leaving the exam. 3. To answer the multiple choice questions‚ circle the letter of your answer. To change your answer‚ stroke through the old answer and circle the new response. You may write
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Multiple Choice Questions 16. Which terms would make the following sentence true? Manufacturing companies that benefit the most from activity-based costing are those where overhead costs are a _________ percentage of total product cost and where there is ___________ diversity among the various products that they produce. A) low‚ little B) low‚ considerable C) high‚ little D) high‚ considerable 17. Would factory security and assembly
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product costs is required. What implication does your answer have for developing a product costing system? L-S‚ T & H‚ page 131. Purpose Current / Future Product Costs Short-term decisions: product mix‚ pricing Future Longer-term strategic decisions Future Long-term pricing Future Plan future product-related costs Future Control of product costs Current Reimbursement contracts Current External reporting (inventory calculation) Current All the information cannot come from one source
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1.Managerial accounting vs financial accounting Managerial accounting information system is an information system that produces outputs using inputs and processes needed to satisfy specific managerial objectives. How do management accounting and financial accounting differ? Management Accounting Financial Accounting 1. Internally focused
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Chapter 01 The Changing Role of Managerial Accounting in a Dynamic Business Environment True / False Questions 1. Controlling involves the coordination of daily business functions within an organization. True False 2. Measuring the performance of managers and subunits is not an objective of managerial accounting. True False 3. Middle-level managers would likely be considered internal users of accounting information rather than external users. True False
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40‚500 54‚000 36‚000 36‚000 Total needs 75‚500 99‚000 96‚000 176‚000 Less beginning inventory 31‚500 40‚500 54‚000 31‚500 Required unit purchases 44‚000 58‚500 42‚000 144‚500 Unit cost × $5 × $5 × $5 × $5 Required dollar purchases $220‚000 $292‚500 $210‚000 $ 722‚500 *90% of the next month’s sales in units. Case 8-29 d. Budgeted cash disbursements for merchandise
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one year from now) the discount rate is 11%. What would be your choice? Will your answer change if Rs 2310 is paid in the beginning of each year for 5 years? Ans Option 1: Annuity Deferred: 2310*3.6959 = 8537.5 Option 2: Annuity Due 2310*3.6959 *1.11 = 9477 Both the options are better than paying lumpsum of Rs. 10‚000. Q3. Exactly twenty years from now Mr. Ahmed will start receiving a pension of Rs 10‚000 a year. The payment will continue for twenty years. How much is
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supporting to produce more- eco-friendly‚ low-coal goods. In contrast‚ Samsung also tries to have an eco-value status and has made plans to achieve environmental sustainability [pic]. Environmental Sustainability Strategy As can be seen from the above five strategies‚ Samsung SDI could manage to include suppliers and customers in this chain. Customer Satisfaction Producing reliable productions is the basic principle for both companies. In oreder to compete in the 21st century business
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to shops in airports and hotels. The finance manager has just returned from an ABC seminar and has been asked to assist in the development of an ABC system in the organization. The following data are as follows: |ACTIVITY |Estimated indirect activity cost|Allocation base |Estimated quantity of allocation| | |(cost pool) |(cost driver) |base | |Materials
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Cost Classifications and Estimation 2.0 Introduction Cost classification may be defined as ‘the arrangement of cost items in a logical sequence having regard to their nature and purpose to be fulfilled’. The term cost must be qualified when in use in order that its precise meaning is established in a particular situation; however‚ cost refers to the amount of resources that have been diverted from other uses or sacrificed so as to achieve the desired objective. But the term is used to refer to
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