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Arizona State University ACC 241 1)When management analyzes whether to move production to another country or to keep the production located where it currently is, which of the following management responsibilities is being performed? 2
Arizona State University
ACC 241
1)When management analyzes whether to move production to another country or to keep the production located where it currently is, which of the following management responsibilities is being performed?
2. Which of the following statements is true?
3. According to the textbook, managerial accountants often work on
4. Under SOX, a CPA firm is permitted to perform which of the following services for an audit client with pre – approval from the client’s audit committee?
5. What position is typically responsible for financial accounting, managerial accounting, and tax reporting?
6. Are owners of a company
7. Is designed to meet the needs of internal decision makers
8. Overseeing the day – to – day operations of a company is an example of which of the following management functions?
9. Preparing financial statements in accordance with GAAP is an example of
10. What is a system that requires suppliers to deliver materials at the exact time the materials are needed?
11. Which one of the following reports is most likely to be required to be audited by an outside entity?
12. Preparing financial statements in accordance with GAAP is an example of
13. A CFO would have all of the following responsibilities except
14. When management uses feedback to take corrective action on the budgets, which of the following management responsibilities are being fulfilled?
15. When management reviews hourly sales reports to determine the level of staffing needed to service customers, which of management’s three primary responsibilities is fulfilled?
16. ISO 9001:2008 is a(n)
17. Are owners of a company
18. According to the Sarbanes – Oxley Act, who is responsible for establishing and maintaining internal controls over financial reporting?
19. Which of the following persons or groups would be least likely to receive detailed managerial accounting reports?
20. An example of direct labor would be which of the following?
21. Schlabig & Associates, a public accounting firm, is what type of company?
22. Before these materials are used to manufacture cabinets, a woodworker classifies lumber, paint, and glue as:
23. How do variable costs per unit behave?
24. Which of the following represents a sunk cost?
Tuity Fruity Beverage Company’s operating activities for the year are listed below.
Purchases.............................. $140,000
Operating expenses............... $80,000
Beginning inventory............... $ 12,000
Ending inventory.................... $18,000
Sales revenue........................ $ 300,000
25. What is the cost of good sold for the year?
Country Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include:
Depreciation on sales office......................................... $9,000
Depreciation on factory equipment............................. $16,000
Factory supervisor salary............................................. $50,500
Sales commissions....................................................... $23,000
Lubricants used in factory equipment.......................... $3,000
Insurance costs for factory........................................... $21,000
Wages paid to maintenance workers........................... $115,000
Fabric used to upholster furniture................................ $10,000
Freight – in (on raw materials)...................................... $3,000
Costs of delivery to customers...................................... $9,000
Wages paid to assembly – line workers......................... $155,500
Lumber used to build product....................................... $82,000
Utilities in factory.......................................................... $54,500
Utilities in sales office.................................................... $26,500
26. Direct labor costs for Country Furniture Company totaled
27. Conversion costs for Country Furniture Company totaled
28. A salesperson’s salary would be classified as when determining the cost of a manufactured product.
29. Where would period costs be found on the financial statements?
30. For a merchandising company, the costs of shipping inventory to the retail outlet is associated with which element of the value chain?
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