Managerial Accounting Final
Exam 2 WileyPlus with
complete solution Latest
Update Graded A+
QUESTIONS AND ANSWERS
Similarity between financial and managerial accounting?. ANSWER -Both draw upon
data from an organization's basic accounting system.
Objective of managerial accounting:Assisting in controlling and evaluating
operations. Yes or no. ANSWER -Yes
Objective of managerial accounting:Providing info for decision making and planning.
Yes or no. ANSWER -Yes
Objective of managerial accounting:Measuring the performance of managers and sub-
units. Yes or No. ANSWER -Yes
Objective of managerial accounting:Motivating managers towards the organization's
goals. Yes or no. ANSWER -Yes
Who is responsible for raising capital and safeguarding the organization's assets?.
ANSWER -Treasurer
, Managerial accounting focuses primarily on?. ANSWER -The needs of managers
internal to the organization.
Variable costs are those costs that:. ANSWER -In total vary directly with changes in
activity level.
Total costs are $140,000 when a company produces 10,000 units. Of this amount,
variable costs are $4 per unit. What are the total costs when 8,000 units are
produced?. ANSWER -132,000
As a company begins to operate outside the relevant range, the accuracy of cost
estimates for fixed and variable costs:. ANSWER -Fixed Decrease and Variable
Decrease
Fixed costs are those costs that. ANSWER -Increase on a per unit basis as activity
decreases
What method of cost estimation fits a cost line using exactly two data points?.
ANSWER -High-low method
In regression analysis, the fixed cost component is represented by what variable on
the regression analysis output?. ANSWER -Intercept coefficient
The break-even point in sales dollars can be calculated by dividing. ANSWER -Fixed
expenses by the contribution margin ratio
Exam 2 WileyPlus with
complete solution Latest
Update Graded A+
QUESTIONS AND ANSWERS
Similarity between financial and managerial accounting?. ANSWER -Both draw upon
data from an organization's basic accounting system.
Objective of managerial accounting:Assisting in controlling and evaluating
operations. Yes or no. ANSWER -Yes
Objective of managerial accounting:Providing info for decision making and planning.
Yes or no. ANSWER -Yes
Objective of managerial accounting:Measuring the performance of managers and sub-
units. Yes or No. ANSWER -Yes
Objective of managerial accounting:Motivating managers towards the organization's
goals. Yes or no. ANSWER -Yes
Who is responsible for raising capital and safeguarding the organization's assets?.
ANSWER -Treasurer
, Managerial accounting focuses primarily on?. ANSWER -The needs of managers
internal to the organization.
Variable costs are those costs that:. ANSWER -In total vary directly with changes in
activity level.
Total costs are $140,000 when a company produces 10,000 units. Of this amount,
variable costs are $4 per unit. What are the total costs when 8,000 units are
produced?. ANSWER -132,000
As a company begins to operate outside the relevant range, the accuracy of cost
estimates for fixed and variable costs:. ANSWER -Fixed Decrease and Variable
Decrease
Fixed costs are those costs that. ANSWER -Increase on a per unit basis as activity
decreases
What method of cost estimation fits a cost line using exactly two data points?.
ANSWER -High-low method
In regression analysis, the fixed cost component is represented by what variable on
the regression analysis output?. ANSWER -Intercept coefficient
The break-even point in sales dollars can be calculated by dividing. ANSWER -Fixed
expenses by the contribution margin ratio
