Quiz #3 Management Accounting

What Key Terminology Budget to Prepare Performance Analysis, except?

• Planning Budget

• Actual Budget

• Flexible Budget

• Variances Budget

How to determine the flexible budget?

• Budgeted Quantity x Budgeted Price

• Actual Quantity x Budgeted Price

• Actual Quantity x Actual Price

• Budgeted Quantity x Actual Price

What is Favorable (F)?

• Revenue Increased, Spending Increased

• Revenue Increased, Spending Decreased

• Revenue Decreased, Spending Increased

• Revenue Decreased, Spending Decreased

What is UnFavorable (U)?

• Revenue Increased, Spending Increased

• Revenue Increased, Spending Decreased

• Revenue Decreased, Spending Increased

• Revenue Decreased, Spending Decreased

To prepare a flexible budget can be adjusted to recognize multiple cost drivers, which cost driver may not be needed to adequately of the cost in organization?

• Wages and salaries

• Gasoline and supplies

• Office and shop rent

• Equipment maintenance

Decentralization is another form of organizational structure that functions by delegating decision-making capabilities to multiple teams across geographies.

• True

• False

What is responsibility accounting various types, except?

• Cost Center

• Asset Center

• Profit Center

• Investment Center

How to determine Return on Investment (RoI)?

• Margin : Turnover

• Net Operating Income : Sales

• Sales : Average Operating Assets

• Net Operating Income : Average Operating Assets

A TQM team at ABC Corp. has recorded the following average times for production:

•       Wait 3.0 days

•       Inspection 0.4 days

•       Process 0.2 days

•       Move 0.5 days

•       Queue 7.3 days

What is the delivery cycle time (DCT)?

• 0.5 days

• 0.7 days

• 10.4 days

• 13.4 days

What are the main elements of the balanced scorecard, except?

• Financial

• External business processes

• Customer

• Learning and growth