Copy this link to your browser and download: http://www.finalexamguide.com/BUS-475-Final-Exam-3-227.htm 1) As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?
2) Managerial accounting __________.
3) What is value chain management best defined as?
4) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:
5) The standards and rules that are recognized as a general guide for financial reporting are called __________.
6) If a company reports a net loss, it __________.
7) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?
8) The cost principle requires that when assets are acquired, they be recorded at __________.
9) Which one of the following is a product cost?
10) What exists when budgeted costs exceed actual results?
11) The primary purpose of the statement of cash flows is to __________.
12) Multinational corporations __________.
13) What exists when budgeted costs exceed actual results?
14) A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $80; Second purchase $95; Third purchase $85. If the company sold two units for a total of $240 and used FIFO costing, the gross profit for the period would be _____.
15) Institutions in the economy that help to match one person's saving with another person's investment are collectively called the __________.
16) Which of the following statements about GDP is