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MN551 FINAL EXAM LATEST WITH ACTUAL
QUESTIONS AND CORRECT VERIFIED ANSWERS
ALREADY GRADED A+ 100%GUARANTEED
PASS
Management Accounting:
a. provides information about the company as a whole
b. focuses on estimating future revenues, costs, and other
measures to forecast activities and their results
c. provides information that is generally available only
on a quarterly or annual basis
d. reports information that has occurred in the past that
is verifiable and reliable - .....ANSWER ...✔✔ B
Planning consists of all of these areas EXCEPT:
a. selecting organizational goals
b. predicting results under various alternatives
c. evaluating performance
d. deciding how to attain the desired goals -
.....ANSWER ...✔✔ C
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Classifying a cost as either direct or indirect depends
upon:
a. whether the cost can be easily identified with the cost
object
b. the behavior of the cost in response to volume
changes
c. whether the cost is expensed in the period in which it is
incurred
d. whether an expenditure is avoidable or not in the
future - .....ANSWER ...✔✔ A
Cost assignment is:
a. finding the difference between budgeted and actual
costs
b. includes tracing and allocating
c. the same as cost accumulation
d. always arbitrary - .....ANSWER ...✔✔ B
A manufacturing plant produces two product lines:
football equipment and hockey equipment. An indirect
cost for the hockey equipment line is the:
a. shift supervisor for the hockey line
b. plant supervisor
c. material used to make the hockey sticks
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d. labor to bind the shaft to the blade of the hockey
stick - .....ANSWER ...✔✔ B
Cost behavior refers to:
a. how costs react to a change in the level of activity
b. classifying costs as either inventorial or period costs
c. whether a particular expense has been ethically
incurred
d. whether a cost is incurred in a manufacturing,
merchandising, or service company - .....ANSWER
...✔✔ A
Within the relevant range, if there is a change in the
level of the cost driver, then:
a. fixed and variable costs per unit will remain the same
b. fixed costs per unit will change and variable costs per
unit will remain the same
c. fixed costs per unit will remain the same and variable
costs per unit will change
d. fixed and variable costs per unit will change -
.....ANSWER ...✔✔ B
Inventorial costs:
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a. include administrative and marketing costs
b. are also referred to as non-manufacturing costs
c. are particularly useful in management accounting
d. are expensed in the accounting period in which the
products are sold - .....ANSWER ...✔✔ D
Cost-Volume-Profit analysis assumes all of the following
EXCEPT:
a. total variable costs remain the same over the relevant
range
b. units manufactured equal units sold
c. total fixed costs remain the same over the relevant
range
d. all costs are variable or fixed - .....ANSWER ...✔✔
A
The cost predicted is referred to as the:
a. cost driver
b. dependent variable
c. independent variable
d. regression - .....ANSWER ...✔✔ B
Variable Costing:
MN551 FINAL EXAM LATEST WITH ACTUAL
QUESTIONS AND CORRECT VERIFIED ANSWERS
ALREADY GRADED A+ 100%GUARANTEED
PASS
Management Accounting:
a. provides information about the company as a whole
b. focuses on estimating future revenues, costs, and other
measures to forecast activities and their results
c. provides information that is generally available only
on a quarterly or annual basis
d. reports information that has occurred in the past that
is verifiable and reliable - .....ANSWER ...✔✔ B
Planning consists of all of these areas EXCEPT:
a. selecting organizational goals
b. predicting results under various alternatives
c. evaluating performance
d. deciding how to attain the desired goals -
.....ANSWER ...✔✔ C
,2|Page
Classifying a cost as either direct or indirect depends
upon:
a. whether the cost can be easily identified with the cost
object
b. the behavior of the cost in response to volume
changes
c. whether the cost is expensed in the period in which it is
incurred
d. whether an expenditure is avoidable or not in the
future - .....ANSWER ...✔✔ A
Cost assignment is:
a. finding the difference between budgeted and actual
costs
b. includes tracing and allocating
c. the same as cost accumulation
d. always arbitrary - .....ANSWER ...✔✔ B
A manufacturing plant produces two product lines:
football equipment and hockey equipment. An indirect
cost for the hockey equipment line is the:
a. shift supervisor for the hockey line
b. plant supervisor
c. material used to make the hockey sticks
,3|Page
d. labor to bind the shaft to the blade of the hockey
stick - .....ANSWER ...✔✔ B
Cost behavior refers to:
a. how costs react to a change in the level of activity
b. classifying costs as either inventorial or period costs
c. whether a particular expense has been ethically
incurred
d. whether a cost is incurred in a manufacturing,
merchandising, or service company - .....ANSWER
...✔✔ A
Within the relevant range, if there is a change in the
level of the cost driver, then:
a. fixed and variable costs per unit will remain the same
b. fixed costs per unit will change and variable costs per
unit will remain the same
c. fixed costs per unit will remain the same and variable
costs per unit will change
d. fixed and variable costs per unit will change -
.....ANSWER ...✔✔ B
Inventorial costs:
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a. include administrative and marketing costs
b. are also referred to as non-manufacturing costs
c. are particularly useful in management accounting
d. are expensed in the accounting period in which the
products are sold - .....ANSWER ...✔✔ D
Cost-Volume-Profit analysis assumes all of the following
EXCEPT:
a. total variable costs remain the same over the relevant
range
b. units manufactured equal units sold
c. total fixed costs remain the same over the relevant
range
d. all costs are variable or fixed - .....ANSWER ...✔✔
A
The cost predicted is referred to as the:
a. cost driver
b. dependent variable
c. independent variable
d. regression - .....ANSWER ...✔✔ B
Variable Costing:
