Acg2071 Exam 1 Fsu With Accurate
And Detailed Answers
planning finvolves f- fCORRECT✅✅setting fgoals fand fobjectives
pillars fof fmanagerial faccounting f- fCORRECT✅✅controlling, fdecision fmaking,
fplanning
business fmanagement fperspectives fthat fgo fbeyond fthe fnumbers fto fenable fintelligent
fplanning, fcontrolling, fand fdecision fmaking finclude: f- fCORRECT✅✅1. fenterprise
frisk fmanagement fperspective f
2. fcorporate fsocial fresponsibility fperspective f
3. fleadership fperspective
Adventure fHoliday fsells fthousands fof ftour fpackages feach fmonth fthrough fits fvarious
fbranches. fA fbranch fmanager's fsalary fwould fbe fa(n) f_________ fof fselling fa ftour
fpackage. f- fCORRECT✅✅indirect fcost
A f___________ fis fa fcost fthat fis fincurred fto fsupport fa fnumber fof fcost fobjects fbut
fcannot fbe ftraced fto fthem findividually. f- fCORRECT✅✅common fcost
Adventure fHoliday fsells fthousands fof ftour fpackages feach fmonth fthrough fits fvarious
fbranches. fA fbranch fmanager's fsalary fwould fbe fa(n) f_________ fof fthe fbranch. f-
fCORRECT✅✅direct fcost
manufacturing fcost fcategories finclude: f- fCORRECT✅✅direct flabor, fdirect fmaterials,
fmanufacturing foverhead
Materials fthat fbecome fan fintegral fpart fof fthe ffinished fproduct fand fwhose fcosts fcan
fbe fconveniently ftraced fto fthe ffinished fproduct fare fcalled f- fCORRECT✅✅direct
fmaterials
also fknown fas f"touch flabor" f- fCORRECT✅✅direct flabor
Items fsuch fas findirect fmaterials, findirect flabor, fmaintenance fand frepairs fon
fproduction fequipment, fdepreciation, fand finsurance fon fmanufacturing ffacilities fare
fincluded fin f- fCORRECT✅✅manufacturing foverhead fcosts
what fis fcommon fto fboth fprime fcost fand fconversion fcost? f- fCORRECT✅✅direct
flabor
, Property ftaxes fassociated fwith fa fcompany's fadministrative ffacility fare fconsidered f-
fCORRECT✅✅non fmanufacturing fcosts
The f_________ frequires fthat fthe fcosts fincurred fto fgenerate fa fparticular frevenue
fshould fbe frecognized fas fexpenses fin fthe fsame fperiod fthat fthe frevenue fis
frecognized. f- fCORRECT✅✅matching fprinciple
If fa ffirm fincreases fits factivity flevel, f- fCORRECT✅✅some fcosts fwill fchange, fother
fcosts fwill fremain fthe fsame
Cyber fDevices fmanufactures fPCTV fproducts fthat fenable fpeople fto fwatch ftelevision
fcontent fon ftheir fcomputers. fIt fsells fits fproduct fto fretailers ffor f$50. fA ftuner fcomponent
fthat fgoes finto feach fof fthese fdevices fcosts f$5 fto facquire. fThe ftotal fvariable fcost fat
fan factivity flevel fof f1,000 funits fequals f- fCORRECT✅✅$5,000 f
- ftotal fvariable fcost f- f$5 fx f1,000 f= f$5,000
A ffixed fcost fis fa fcost fwhich f- fCORRECT✅✅remains fconstant fin ftotal fwith fchanges
fin fthe flevel fof factivity
In fa fsmall fmanufacturing ffacility, fone fwelder fis fneeded ffor fevery f200 fhours fof
fmachine-hours for ffewer fin fa fmonth. fThe fwelder fis fpaid fa fmonthly fsalary fof f$2,500. fIf
fthe ftotal fmonthly frequirement fis f1,300 fmachine-hours, fthe ftotal fsalaried femployee
fexpense fis f- fCORRECT✅✅$17,500 f
- fThe fcompany fwould fneed f7 fwelders f(7 f× f$2,500 f= f$17,500) fto fcomplete fthe fwork.
fThe frelevant frange fhere fis f1,201 fto f1,400 fmachine-hours
In fthe fequation, fY f= fa f+ fbX, fX frepresents f- fCORRECT✅✅the flevel fof factivity
differential fcosts fare falways f- fCORRECT✅✅future fcosts fthat fdiffer fbetween
falternatives fand fare frelevant fin fmaking fbusiness fdecisions.
what fis falways fan firrelevant fcost? f- fCORRECT✅✅sunk fcosts
opportunity fcosts f- fCORRECT✅✅- fthe fpotential fbenefit fthat fis fgiven fup fwhen fone
falternative fis fselected fover fanother.
- fnot fusually ffound fin faccounting frecords.
- fmust fbe fexplicitly fconsidered fin fevery fdecision fa fmanager fmakes.
the ftraditional fincome fstatement fuses f- fCORRECT✅✅costs fof fgoods fsold fand
fselling f& fadministrative fexpenses
Audio fCorporation fpurchased f$20,000 fof fDVDs fduring fthe fcurrent fyear. fThe fcompany
fhad fDVD finventory fof f$15,000 fat fthe fbeginning fof fthe fyear. fAn fend fof fthe fyear faudit
frevealed fthat fthe fcompany fhad fDVD finventory fof f$10,000. fThe famount fthat fwould fbe
freported fas fcost fof fgoods fsold fin fthe fincome fstatement ffor fthe fcurrent fyear fis f-
fCORRECT✅✅$25,000 f
And Detailed Answers
planning finvolves f- fCORRECT✅✅setting fgoals fand fobjectives
pillars fof fmanagerial faccounting f- fCORRECT✅✅controlling, fdecision fmaking,
fplanning
business fmanagement fperspectives fthat fgo fbeyond fthe fnumbers fto fenable fintelligent
fplanning, fcontrolling, fand fdecision fmaking finclude: f- fCORRECT✅✅1. fenterprise
frisk fmanagement fperspective f
2. fcorporate fsocial fresponsibility fperspective f
3. fleadership fperspective
Adventure fHoliday fsells fthousands fof ftour fpackages feach fmonth fthrough fits fvarious
fbranches. fA fbranch fmanager's fsalary fwould fbe fa(n) f_________ fof fselling fa ftour
fpackage. f- fCORRECT✅✅indirect fcost
A f___________ fis fa fcost fthat fis fincurred fto fsupport fa fnumber fof fcost fobjects fbut
fcannot fbe ftraced fto fthem findividually. f- fCORRECT✅✅common fcost
Adventure fHoliday fsells fthousands fof ftour fpackages feach fmonth fthrough fits fvarious
fbranches. fA fbranch fmanager's fsalary fwould fbe fa(n) f_________ fof fthe fbranch. f-
fCORRECT✅✅direct fcost
manufacturing fcost fcategories finclude: f- fCORRECT✅✅direct flabor, fdirect fmaterials,
fmanufacturing foverhead
Materials fthat fbecome fan fintegral fpart fof fthe ffinished fproduct fand fwhose fcosts fcan
fbe fconveniently ftraced fto fthe ffinished fproduct fare fcalled f- fCORRECT✅✅direct
fmaterials
also fknown fas f"touch flabor" f- fCORRECT✅✅direct flabor
Items fsuch fas findirect fmaterials, findirect flabor, fmaintenance fand frepairs fon
fproduction fequipment, fdepreciation, fand finsurance fon fmanufacturing ffacilities fare
fincluded fin f- fCORRECT✅✅manufacturing foverhead fcosts
what fis fcommon fto fboth fprime fcost fand fconversion fcost? f- fCORRECT✅✅direct
flabor
, Property ftaxes fassociated fwith fa fcompany's fadministrative ffacility fare fconsidered f-
fCORRECT✅✅non fmanufacturing fcosts
The f_________ frequires fthat fthe fcosts fincurred fto fgenerate fa fparticular frevenue
fshould fbe frecognized fas fexpenses fin fthe fsame fperiod fthat fthe frevenue fis
frecognized. f- fCORRECT✅✅matching fprinciple
If fa ffirm fincreases fits factivity flevel, f- fCORRECT✅✅some fcosts fwill fchange, fother
fcosts fwill fremain fthe fsame
Cyber fDevices fmanufactures fPCTV fproducts fthat fenable fpeople fto fwatch ftelevision
fcontent fon ftheir fcomputers. fIt fsells fits fproduct fto fretailers ffor f$50. fA ftuner fcomponent
fthat fgoes finto feach fof fthese fdevices fcosts f$5 fto facquire. fThe ftotal fvariable fcost fat
fan factivity flevel fof f1,000 funits fequals f- fCORRECT✅✅$5,000 f
- ftotal fvariable fcost f- f$5 fx f1,000 f= f$5,000
A ffixed fcost fis fa fcost fwhich f- fCORRECT✅✅remains fconstant fin ftotal fwith fchanges
fin fthe flevel fof factivity
In fa fsmall fmanufacturing ffacility, fone fwelder fis fneeded ffor fevery f200 fhours fof
fmachine-hours for ffewer fin fa fmonth. fThe fwelder fis fpaid fa fmonthly fsalary fof f$2,500. fIf
fthe ftotal fmonthly frequirement fis f1,300 fmachine-hours, fthe ftotal fsalaried femployee
fexpense fis f- fCORRECT✅✅$17,500 f
- fThe fcompany fwould fneed f7 fwelders f(7 f× f$2,500 f= f$17,500) fto fcomplete fthe fwork.
fThe frelevant frange fhere fis f1,201 fto f1,400 fmachine-hours
In fthe fequation, fY f= fa f+ fbX, fX frepresents f- fCORRECT✅✅the flevel fof factivity
differential fcosts fare falways f- fCORRECT✅✅future fcosts fthat fdiffer fbetween
falternatives fand fare frelevant fin fmaking fbusiness fdecisions.
what fis falways fan firrelevant fcost? f- fCORRECT✅✅sunk fcosts
opportunity fcosts f- fCORRECT✅✅- fthe fpotential fbenefit fthat fis fgiven fup fwhen fone
falternative fis fselected fover fanother.
- fnot fusually ffound fin faccounting frecords.
- fmust fbe fexplicitly fconsidered fin fevery fdecision fa fmanager fmakes.
the ftraditional fincome fstatement fuses f- fCORRECT✅✅costs fof fgoods fsold fand
fselling f& fadministrative fexpenses
Audio fCorporation fpurchased f$20,000 fof fDVDs fduring fthe fcurrent fyear. fThe fcompany
fhad fDVD finventory fof f$15,000 fat fthe fbeginning fof fthe fyear. fAn fend fof fthe fyear faudit
frevealed fthat fthe fcompany fhad fDVD finventory fof f$10,000. fThe famount fthat fwould fbe
freported fas fcost fof fgoods fsold fin fthe fincome fstatement ffor fthe fcurrent fyear fis f-
fCORRECT✅✅$25,000 f
