Net Present Value and Following Describes Characteristics Essay Example
[pic]BUS/475 Sample Final Exam
1. Which of the following is NOT an element of manufacturing overhead? a. Factory employee’s salary
2. What accounts are NOT classified in the current assets section of the balance sheet? a. Accounts payable
3. The starting point of a master budget is the preparation of the a. sales budget.
4. What amounts are not included in Gross Margin? a. Operating expenses
5. At what rate is the income statement converted for US $ comparison? a. Average rate
6. Which list below best describes the major services performed by public accountants? a. Auditing, taxation, management consulting
7. Jaime Inc. manufactures 2 products, sweaters and jackets. The company has estimated its overhead in the order-processing department to be $180,000. The company produces 50,000 sweaters and 80,000 jackets each year. Sweater production requires 25,000 machine hours, jacket production requires 50,000 machine hours. The company places raw materials orders 10 times per month, 2 times for raw materials for sweaters and the remainder for raw materials for jackets. How much of the order-processing overhead should be allocated to jackets? a. $144,000
8. ABC Bread sells a box of bagels with a contribution margin of 62.5%. Its fixed costs are $150,000 per year. How much sales dollars does ABC Bread need to break-even per year if bagels are its only product? a. $240,000
9. What exists when budgeted costs exceed actual results? a. A favorable difference
10. Disclosures about inventory should include each of the following EXCEPT a. The quantity of inventory
11. Which of the following is NOT a part of the accounting process? a. Financial decision making
12. The cost principle is the basis for preparing financial statements because it is a. relevant and objectively measured, and verifiable.
1. Data is considered invalid when a. it does not measure the intended
1. Which of the following is NOT an element of manufacturing overhead? a. Factory employee’s salary
2. What accounts are NOT classified in the current assets section of the balance sheet? a. Accounts payable
3. The starting point of a master budget is the preparation of the a. sales budget.
4. What amounts are not included in Gross Margin? a. Operating expenses
5. At what rate is the income statement converted for US $ comparison? a. Average rate
6. Which list below best describes the major services performed by public accountants? a. Auditing, taxation, management consulting
7. Jaime Inc. manufactures 2 products, sweaters and jackets. The company has estimated its overhead in the order-processing department to be $180,000. The company produces 50,000 sweaters and 80,000 jackets each year. Sweater production requires 25,000 machine hours, jacket production requires 50,000 machine hours. The company places raw materials orders 10 times per month, 2 times for raw materials for sweaters and the remainder for raw materials for jackets. How much of the order-processing overhead should be allocated to jackets? a. $144,000
8. ABC Bread sells a box of bagels with a contribution margin of 62.5%. Its fixed costs are $150,000 per year. How much sales dollars does ABC Bread need to break-even per year if bagels are its only product? a. $240,000
9. What exists when budgeted costs exceed actual results? a. A favorable difference
10. Disclosures about inventory should include each of the following EXCEPT a. The quantity of inventory
11. Which of the following is NOT a part of the accounting process? a. Financial decision making
12. The cost principle is the basis for preparing financial statements because it is a. relevant and objectively measured, and verifiable.
1. Data is considered invalid when a. it does not measure the intended