Management Accounting Multiple Choice Questions (MCQ)

1. Managerial accounting information is generally prepared for

a. stockholders.

b. creditors.

c. managers.

d. regulatory agencies.

2. Managerial accounting information

a. pertains to the entity as a whole and is highly aggregated.

b. pertains to subunits of the entity and may be very detailed.

c. is prepared only once a year.

d. is constrained by the requirements of generally accepted accounting principles.

3. The major reporting standard for presenting managerial accounting information is

a. relevance.

b. generally accepted accounting principles.

c. the cost principle.

d. the current tax law.

4. Managerial accounting is also called

a. management accounting.

b. controlling.

c. analytical accounting.

d. inside reporting.

Management Accounting Questions (AC 330 Unit 2)

Economist salaries by educational attainment.

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1. Classify the items into the following categories: (a)direct materials (b)direct labor (c)manufacturing overhead: 1.salaries for assembly line inspectors 2.insurance on factory machines 3.property taxes on the factory building 4.factory repairs 5. upholstery used in manufacturing furniture 6.wages paid to assembly line workers 7.factory machinery depreciation 8.glue,nails,paint,and other small parts used in production 9.factory supervisors’ salaries 10.wood used in manufacturing furniture

2. Determine the total amt. of (a)delivery service (product) costs and (b) period costs: indirect materials $5400, depreciation on delivery equipment $11200, dispatchers salary $5000, property tax on building $870, CEO salary $12000, gas and oil $2200, drivers’ salaries $11000, advertising $1600, delivery repairs $300, supplies $650, utilities $990, equip repairs $180.

STRATEGIC INVESTMENT DECISIONS: Schweser Satellites Inc.

Cost-Volume-Profit diagram, decomposing Total ...

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STRATEGIC INVESTMENT DECISIONS: Schweser Satellites Inc.

Schweser Satellites Inc. Produces satellite earth stations that sell for $100,000 each. The firm’s fixed cost, F, are $2 million; 50 earth stations are produced and sold each year; profits total $500,000; and the firms assets (all equity financed) are $5million. The firm estimates that it can change its production process, adding $4million to investment and $500,000 to fixed operating costs. This change will (1) reduce variable costs per unit by $10,000 and (2) increase output by 20 units, but (3) sales price on all units will have to be lowered to $95,000 to permit sales of the additional output. The firm has tax loss carry forwards that cause its tax rate to be zero, its cost equity is 15 percent, and it uses no debt.

  1. Should the firm make the change?
  2. Would the firms operating leverage increase or decrease if it made the change? What about its breakeven point?
  3. Would the new situation expose the firm to more or less business risk than the old one?

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FIN200

Final Project Overview in $50 Only

FIN200

As students of finance and potential investors, you can estimate the financial health and profitability of a company using financial ratios and other industry tools. The tools and skills practiced in this course can be used to help you determine whether or not to invest money in a company. Research into the financial health of the company can help make the decision.

In the final project, you compute corporate performance ratios and compare them to industry averages. You also study portions of the company’s annual report to analyze the company’s operating and cash cycles, long-term debt, and cost of capital. Finally, you summarize your conclusions in an analysis from an investor perspective. Please summarize and explain the project listed in the syllabus here.

Final Project Timeline

ACC 561 Accounting Entire Class

ACC 561 Accounting Entire Class in $48 OnlyACC 561 Accounting Entire Class

Following files are available with the answer:

  1. ACC 561 Week 1 Wileyplus assignment BE 1-7, BE 1-8
  2. ACC 561 Week 1 Individual Assignment  Financial Statement Review
  3. ACC 561 Week 1 Wileyplus Practice Quiz
  4. ACC 561 Week 2 Individual Assignment  Sarbanes-Oxley Act of 2002
  5. ACC 561 Week 2  Learning Team Reflection ( comparative and ratio analysis)
  6. ACC 561 Week 2 Wileyplus Practice Quiz
  7. ACC 561 Week 3 Team Assignment American Corporation Analysis
  8. ACC 561 Week 3 Wileyplus Assignment (BE 13-8, BE 13-9, BE 13-4, BE 13-5, BE 13-10, BE 13-13)
  9. ACC 561 Week 3 Wileyplus Practice Quiz
  10. ACC 561 Week 4 WileyPLUS Assignment Paper Exercise 17-2
  11. ACC 561 Week 4  WileyPLUS Assignment (Exercise 15-5, 16-3, 17-1)
  12. ACC 561 Week 4 Learning Team Reflection (CVP Analysis)
  13. ACC 561 Week 4 Wileyplus Practice Quiz
  14. ACC 561 Week 5 Individual WileyPLUS Assignment Paper Exercise 18-1
  15. ACC 561 Week 5  WileyPLUS Assignment (BE 18-8, BE 18-10, BE 18-11, BE 19-16, Ex 19-17, BE 21-1, BE 21-4)
  16. ACC 561 Week 5 Individual Assignment  Costing Methods Paper (Exercise 19-17)
  17. ACC 561 Week 5 Wileyplus Practice Quiz
  18. ACC 561 Week 5 Learning Team Deliverables
  19. ACC 561 Week 6 Learning Team Reflection (Incremental analysis)
  20. ACC 561 Week 6  WileyPLUS Assignment (Exercise 20-3, Ex 22-1, BE 23-3, BE 23-4, BE 23-6)
  21. ACC 561 Week 6 Wileyplus Practice Quiz
  22. ACC 561 Final Exam Guide

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ACCT11059 Using Accounting for Decision Making

ACCT11059 Using Accounting for Decision Making in $12 Only

Read Chapter 8, Study Guide (‘We Have Got to Make Some Decisions’).
Have you got the idea of how to do your SPAs now? The key is to focus on your own reactions and responses to the reading. Don’t just give the marker what you think they might want to hear. We do not want anything; we want to hear what you think about the concepts of budgeting in the reading, and why.

This is so interesting to us. You can bring your own perspectives and reactions. And as we read your SPA we can learn from you; and find out what you think, and why.

While you are reading this chapter, note on your laptop, or on a piece of paper or on your copy of Chapter 8, key concepts that occur to you. That’s right; just write them down as you go along. Also, include any questions that occur to you as you are reading. What do you find confusing, difficult to understand or believe, boring, exciting or surprising? Then include a summary of your key concepts and questions (KCQs) in your SPA#3.
Make sure you use the words “I” and “me” a lot in your SPA#3. Different people will have different reactions to the readings. Tell me what your reactions actually are. This is what I am interested in. Do not tell me what you think I might want to hear. Be genuine and honest in your reactions to the readings. Give me something of yourself in your SPA#3.

  • Please submit your SPA#3 as a Word document.
  • Please allow 100 – 120 minutes to complete your SPA#3.

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Accounting 2016SP1-BM M7 Discussion Topic

Accounting 2016SP1-BM M7 Discussion Topic in $8 only

M7 Discussion Topic

At the beginning of the module there will be always a question you use as to start the discussion, then your professor will be adding at least three times each week new discussion question to expand your knowledge. Also you may contribute new question to ignite the discussion for better learning.

* Very often, an organization contracts auditors for services other than the traditional audit. Examples include the compilation, review and agreed upon procedure engagements. These other procedures do not provide the same assurance to statement users as does the audit. In many cases, this reduced assurance is not known or understood to investors until an issue results and litigation commences. Use the internet and find an article that discusses a case where there was a failure, and there was discussion as to the soundness of procedures other than a traditional audit. What was the outcome, and what are the circumstances?

* Many CPA firms now confirm bank balances electronically using a third-party intermediary. Do you believe this improves the confirmation process.

* Why attorneys are reluctant to provide auditors with unlimited statements about contingencies.

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Accounting Week 8 Quiz and Homework Question Latest 2016

Accounting Week 8 Quiz and Homework Question Latest 2016 in $21 only

The figure given below represents two indifference curves I1 and I2 of an individual.
Figure 7.2

Refer to Figure 7.2. Which of the following statements is true?

a. Point B yields a greater level of satisfaction than point C.

b. Point B yields a greater level of satisfaction than point D.

c. Points A and E yield the same level of satisfaction.

d. Point C yields a lower level of satisfaction than point D.

e. I2 represents a greater level of satisfaction than I1.

The figure given below shows three Short Run Average Total Cost (SRATC) curves and the Long Run Average Total Cost (LRATC) curve of a firm.
Figure 8.3

Accounting Misc. Problems Assignment

Accounting Misc. Problems Assignment in $8 only

Free Sample Answer is given below.

Problem 7-20 Claire Company produces Tablets and Books. Total overhead costs traditionally have been allocated on the basis of direct labor hours. After implementing activity-based costing, managers determined the following cost pools and cost drivers. They also decided that general costs should no longer be allocated to products.

Activity PoolDepartment CostsCost Driver
Binding$241,763Number of units
Printing820,821Machine hours
Product design185,198Change orders
General628,500None
Total overhead costs$1,876,282

Other information is as follows:

TabletsBooks
Units62,70020,300
Direct materials cost per unit$2.84$10.03
Direct labor cost per unit$4.02$8.08
Direct labor hours25,50016,400
Machine hours125,000121,000
Change orders1,4002,000
Calculate predetermined OH rate. (Round answer to 2 decimal places, e.g. 15.25.)

Predetermined OH rate$ /DLH
Determine the unit product cost for Tablets and Books using the traditional costing system. (Round overhead rate and final answers to 2 decmial places, e.g. 15.25.)

TabletsBooks
Unit product cost$$
Calculate ABC rates. (Round answers to 2 decimal places, e.g. 15.25.)

ABC rates
Binding$ /unit
Printing$ /machine hour
Product design$ /change order
Determine the unit product cost for Tablets and Books using the activity-based costing system. (Round all rates and final answers to 2 decmial places, e.g. 15.25.)

TabletsBooks
Total unit cost$$

Show that General cost is the difference between the total overhead costs allocated to products under the traditional system and the total cost allocated to products under the activity-based costing system.(Round answers to 0 decmial places, e.g. 1,525.)

TraditionalABCDifference
Total allocated overhead$$$

Sample Answer:

PREDETERMINED OVERHEAD RATE

= TOTAL OVERHEAD COST / TOTAL DIRECT LABOUR HOURS

= $1876282 / (25500 + 16400)

= $1876282 / 41900

= $44.78 PER DLH

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ACC 204 Chapter 1 Accounting Elements

ACC 204 Chapter 1 Accounting Elements – In class practice in $18 only

Is the account an Asset, Liability, Capital/Equity, Revenue, Expense?

On which financial statement does the account appear?

Land Rent Expense

Inventory Retained Earnings

Accounts Payable Accounts Receivable

Utilities Expense Common Stock

Wages Payable Wages Expense

Rent Expense Notes Payable

Equipment Sales

Supplies Supplies Expense

Service Revenue Fee Revenue

Dividends Dividend Income

Interest Expense Interest Payable

Interest Income Interest Receivable

Cost of Goods Sold Building

Income Tax Expense Income Tax Payable

Insurance Expense Cash

Prepaid Insurance Unearned Revenue

Version B Accounting 200

Version B Accounting 200

Third Hour Exam- Chapters 8,9, & 10 Name

I. For the year 2006 Kolar Company has the following information available. Use this information to answer questions A, B, C, & D.

Gross Credit Sales of $90,000

Sales Discounts of $4,000

Debit balance in Allowance for Doubtful Accounts (before adjusting entries) of $6,000

Balance in Accounts Receivable (before adjusting entries) of $22,000.

Answer each of the following questions INDEPENDENT of the other questions. (10 points)

Accounting Questions & Answers

Accounting Questions & Answers in $48 only

1.In the Wall Bricks, Inc.’s balance sheet lists net fixed asset as $18 million. The fixed assets could currently be sold for $14 million. Wall Bricks’ current balance sheet shows current liabilities of $7 million and current assets of $10 million. If all the current accounts were liquidated today, the company would receive $2 million cash after paying the $7 million in liabilities. What is the book value of Wall Bricks’ assets today? What is the market value of these assets?

2.Last year a firm had an ROA of 8% and a dividend payout ratio of 40%. What is the internal growth rate?
3.Last year a firm had an ROE of 6% and a dividend payout ratio of 80%. What is the sustainable growth rate?
4.What is the future value in 3 years of $1,000 deposited today, earning a 4% interest rate annually?
5.Approximately, how many years does it take to double a $2000 investment when interest rates are 6% per year?

ACC 380 Entire Course

ACC 380 Entire Course in $27 only

ACC 380 Entire Course / Accounting for Not-for-Profit Organizations

Accounting and Financial Reporting. From Chapter 1 complete Exercise 1-6 and Exercise 1-9. From chapter 2 complete Exercise 2-2 and post the answers to the discussion board. Do not forget to show all necessary steps and explain how you attained the outcome. Respond to at least two of your classmates’ postings.

GASB, CAFR ISSUES and Budgetary Comparison Schedule. From Chapter 2 complete Exercise 2-3 and from Chapter 3 complete Exercise 3-5 and Exercise 3-10 and post the answers to the discussion board. Do not forget to show all necessary steps and explain how you attained the outcome. Respond to at least two of your classmates’ postings.

Government-Wide Statements & Budgetary Comparison Schedule. Complete the following activities and submit your answers to your instructor in a Word document formatted to proper APA specifications. Include any relevant supporting computations and explanations.

Review the financial information pertaining to the City of Northern Pines in problem 2-8 on pages 52 and 53 of your text. Prepare, in good form, a Statement of Activities for the city of Northern Pines for the year ended June 30, 2012. Northern Pines has no component units.

ACC 310 Entire Course

ACC 310 Entire Course in $27 only (Instant Download)

ACC 310 Entire Course / Cost Accounting I

Following files are available with the answer:

  1. ACC 310 Week 1 DQ 1 Information for Decision Making and Cost Concepts and Behavior
  2. ACC 310 Week 1 DQ 2 Fundamentals of Cost-Volume-Profit Analysis
  3. ACC 310 Week 1 Assignment CVP Analysis and Price Changes
  4. ACC 310 Week 2 Assignment Special Orders
  5. ACC 310 Week 2 DQ 1 Fundamentals of Cost Accounting for Decision Making
  6. ACC 310 Week 2 DQ 2 Fundamentals of Product and Service Costing
  7. ACC 310 Week 3 Assignment Choosing an Activity- Based Costing System
  8. ACC 310 Week 3 DQ 1 Job and Process Costing
  9. ACC 310 Week 3 DQ 2 Activity Based Costing
  10. ACC 310 Week 4 Assignment Prepare Budgeted Financial Statements
  11. ACC 310 Week 4 DQ 1 Cost Management and Joint Allocation
  12. ACC 310 Week 4 DQ 2 Management Control Systems and Budgeting
  13. ACC 310 Week 5 Assignment Ethics and Standard Costs
  14. ACC 310 Week 5 Assignment Final Paper
  15. ACC 310 Week 5 DQ 1 Performance Measurement and Transfer Pricing
  16. ACC 310 Week 5 DQ 2 Fundamentals of Variance Analysis

Sample Answer of  Week 1 DQ 1 Information for Decision Making and Cost Concepts and Behavior:

1-18

Beige Computers operates retail stores in both downtown (City) and suburban (Mall) locations. The company has two responsibility centers: the City Division, which contains stores in downtown locations, and the Mall Division, which contains stores in suburban locations. Beige’s CEO is concerned about the profitability of the City Division, which has been operating at a loss for the last several years. The most recent income statement follows. The CEO has asked for your advice on shutting down the City Division’s operations. If the City Division is eliminated, corporate administration is not expected to change, nor are any other changes expected in the operations or costs of the Mall Division.

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PennFoster06155200 – Graded Project (J&L Accounting, Inc)

PennFoster06155200 – Graded Project (J&L Accounting, Inc) in $67 only (Instant Download)PennFoster06155200 - Graded Project (J&L Accounting, Inc)

J & L Accounting, Inc. Post-Closing Trial Balance December 31, 2012 BALANCE ACCOUNT TITLE DEBIT CREDIT Cash, Business Checking 20,500.00 Accounts Receivable – Prepaid Rent – Vehicles 48,000.00 Accumulated Depreciation, Vehicles 12,000.00 Equipment 3,600.00 Accumulated Depreciation, Equipment 600.00 Accounts Payable Common Stock 38,000.00 Retained Earnings 21,500.00 Dividends Service Revenue Advertising Expense Rent Expense Office Supplies Expense Telephone Expense Utilities Expense Depreciation Expense TOTALS $72,100.00 $72,100.00 J & L Accounting, Inc. Balance Sheet As of December 31, 2012 ASSETS Cash, Business Checking 20,500.00 Accounts Receivable – Prepaid Rent – Vehicles 48,000.00 Less: Accumulated Depreciation, Vehicles 12,000.00 36,000.00 Equipment 3,600.00 Less: Accumulated Depreciation, Equipment 600.00 3,000.00 TOTAL ASSETS $59,500.00 LIABILITIES Accounts Payable – TOTAL LIABILITIES – STOCKHOLDERS’ EQUITY Common Stock 38,000.00 Retained Earnings 21,500.00 TOTAL STOCKHOLDERS’ EQUITY 59,500.00 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $59,500.00 J & L Accounting, Inc. Income Statement For the Month Ending December 31, 2012 REVENUES Service Revenue 10,275.00 EXPENSES Advertising Expense 2,300.00 Rent Expense 1,000.00 Office Supplies Expense 300.00 Telephone Expense 750.00 Utilities Expense 3,200.00 Depreciation Expense 1,100.00 TOTAL EXPENSES 8,650.00 NET INCOME $1,625.00 J & L Accounting, Inc. Statement of Retained Earnings For the Month Ending December 31, 2012 Retained Earnings, December 1, 2012 19,875.00 Add: Net Income 1,625.00 Subtotal 21,500.00 Less: Dividends – Retained Earnings, December 31, 2012 $21,500.00

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Accounting Problem 1.6 and Problem 2.5

Accounting Problem 1.6 and Problem 2.5 in $11 only (Instant Download)

Free Sample Answer Given Below

1.6.
Based on Walmart’s success in the United States, many expected the company to quickly dominate the British market after it bought the Asda grocery chain in 1999. That did not happen; Walmart’s market share in groceries grew to a little more than half that of its biggest competitor, Tesco. Initially, Tesco’s sales and net income rose significantly while Walmart’s sales and net income increased at a much slower rate. More recently, Walmart has made small gains in market share, and Tesco has had small decreases.
Walmart found out that Tesco is a formidable worldwide competitor. Tesco operates almost 2,400 stores in Britain in four different formats. It has a very successful operation in Central Europe, and it expanded to the United States with Fresh & Easy stores. In Korea, Tesco’s 174 stores thrived while Walmart gave up after an eight-year effort to succeed and sold its 16 stores.
One of the biggest reasons for Tesco’s success is its use of technology. In 1995, Tesco started a loyalty card program, called Clubcard, and over 80% of its shoppers are members. Shoppers fill out an application in the store and receive a plastic card and a key fob in the mail that is scanned before they make a purchase. Tesco gathers massive amounts of data about its customers’ 15 million purchases each week. Sales data are analyzed and turned into information that provides Tesco with a significant competitive advantage.
As traditional advertising loses effectiveness, these large stores of data allow Tesco to find new and creative ways to market its products.
REQUIRED
• a. What kind of information do you think Tesco gathers?
• b. How do you think Tesco has motivated over 22 million customers to sign up for its Clubcard program?
• c. What can Tesco accomplish with the Clubcard data it collects? Think in terms of strategy and competitive advantage.
• d. What are some of the disadvantages to the Clubcard program?
• e. Do an Internet search to find out how Tesco is doing in comparison to Walmart and other grocers and retailers. Write a few paragraphs explaining your findings.

Sample Answer of e.

Meyers (2010) states that UK is yet to experience recession as consumers try to reduce their spending in order to maintain their lifestyle. There has however been increased competition though Tesco has ground against Walmart in Europe.

Study shows that Walmart operates on a larger base and offers a variety of products in United States. This has given the Walmart a stronger financial base as compared to Tesco. ….

2.5.
Match the following terms with their definitions.
Term Definition
• _____a. data processing cycle • 1. Contains summary-level data for every asset, liability, equity, revenue, and expense account
• _____b. source documents • 2. Items are numbered consecutively to account for all items; missing items cause a gap in the numerical sequence
• _____c. turnaround documents • 3. Path of a transaction through a data processing system from point of origin to final output, or backward from final output to point of origin
• _____d. source data automation • 4. List of general ledger account numbers; allows transaction data to be coded, classified, and entered into proper accounts; facilitates preparation of financial statements and reports
• _____e. general ledger • 5. Contents of a specific field, such as “George” in a name field
• _____f. subsidiary ledger • 6. Portion of a data record that contains the data value for a particular attribute, like a cell in a spreadsheet
• _____g. control account • 7. Company data sent to an external party and then returned to the system as input
• _____h. coding • 8. Used to record infrequent or nonroutine transactions
• _____i. sequence code • 9. Characteristics of interest that need to be stored
• _____j. block code • 10. The steps a company must follow to efficiently and effectively process data about its transactions
• _____k. group code • 11. Something about which information is stored
• _____l. mnemonic code • 12. Stores cumulative information about an organization; like a ledger in a manual AIS
• _____m. chart of accounts • 13. Contains detailed data for any general ledger account with many individual subaccounts
• _____n. general journal • 14. Contains records of individual business transactions that occur during a specific time period
• _____o. specialized journal • 15. Updating each transaction as it occurs
• _____p. audit trail • 16. Devices that capture transaction data in machine-readable form at the time and place of their origin
• _____q. entity • 17. Used to record large numbers of repetitive transactions
• _____r. attribute • 18. Set of interrelated, centrally coordinated files
• _____s. field • 19. Two or more subgroups of digits are used to code items
• _____t. record • 20. Updating done periodically, such as daily
• _____u. data value • 21. Systematic assignment of numbers or letters to items to classify and organize them
• _____v. master file • 22. Letters and numbers, derived from the item description, are interspersed to identify items; usually easy to memorize
• _____w. transaction file • 23. Initial record of a transaction that takes place; usually recorded on preprinted forms or formatted screens
• _____x. database • 24. Fields containing data about entity attributes; like a row in a spreadsheet
• _____y. batch processing • 25. Sets of numbers are reserved for specific categories of data
• _____z. online, real-time processing • 26. The general ledger account corresponding to a subsidiary ledger, where the sum of all subsidiary ledger entries should equal the amount in the general ledger account

  • Problem 1.6 (page 20) In comprehensive paragraphs, answer requirements a to e. You will have 5 paragraphs total of four to five sentences each.
  • Problem 2.5 (page 41) Match each term with its definition.

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ACC – The Accounting Clerk receives the Job Invoices

ACC – The Accounting Clerk receives the Job Invoices in $12

The Accounting Clerk receives the Job Invoices from the Job Supervisor, then completes and codes a Job Voucher for each Job Invoice. The Job Vouchers, with their attached Job Invoices, are sent to the Data Entry Clerk who enters the voucher information into the Job Costing Program which uses information from the Vendor Master file and enters new records into the Accounts Payable Transaction file. The Data Entry Clerk prints one copy of the Job Summary Report and two copies of the Job Detail Report using the Job Costing Program, the Vendor Master file, and the Accounts Payable Transaction file. Copy 1 of the Job Detail Report is sent to the Accounting Clerk along with the Job Vouchers and Job Invoices. Copy 2 of the Job Detail Report is sent to the Project Accountant. The Job Summary Report is sent to the Controller.

Accounting 211 Comprehensive Problem 4

Accounting 211 Comprehensive Problem 4 in $19 only

This problem has a value of 10% of the final grade.

Jumpin-JehoSaphats is owned by Jessica Jean (JJ) Saphats. Jessica wants to incorporate her business but is not sure of the differences between the current form of sole proprietorship and changing to a corporation. She has come to you to discuss the future of her company.

Part 1. 10% Discuss in detail the requirements of incorporating JJ’s company. What are the advantages and disadvantages of this plan? What must she do to become a corporation?