BU 330 EXAM

Which of the following are a manager’s three primary responsibilities?

[removed]Planning, Directing, Controlling

[removed]Budgeting, Planning, Controlling

[removed]Budgeting, Directing, Controlling

[removed]Budgeting, Planning, Directing

All of the following are ethical principles identified in the IMA’s Statement of Ethical Professional Practice except:

[removed]honesty.

[removed]teamwork.

[removed]objectivity.

[removed]responsibility.

Which of the following companies would use a job costing system?

[removed]Health care provider

[removed]Crayon manufacturing company

[removed]Potato chip manufacturing corporation

[removed]Spring water bottling company

When selecting a manufacturing overhead allocation base, managers should select the:

[removed]number of products produced.

[removed]activity-based products.

[removed]cost driver of those manufacturing overhead costs.

[removed]same number used in prior years.

Conversion costs include:

[removed]direct labor and manufacturing overhead.

[removed]manufacturing overhead only.

[removed]direct materials and direct labor.

[removed]direct materials and manufacturing overhead.

If the sales price is $20 per unit, the variable cost is $12 per unit, total fixed costs are $12,000, and 15,000 units are produced, the contribution margin per unit is:

[removed]20

[removed]9

[removed]12

[removed]8

Which of the following budgets is the comprehensive planning document for the entire organization?

[removed]Sales budget

[removed]Capital expenditure budget

[removed]Master budget

[removed]Budgeting income statement

Which of the following is a true statement regarding fixed overhead volume variance?

[removed]If production volume is less than anticipated, then fixed overhead has been under allocated and the fixed overhead volume variance is favorable.

[removed]If production volume is less than anticipated, then fixed overhead has been under allocated and the fixed overhead volume variance is unfavorable.

[removed]If production volume is greater than anticipated, then fixed overhead has been under allocated and the fixed overhead volume variance is favorable.

[removed]If production volume is greater than anticipated, then fixed overhead has been over allocated and the fixed overhead volume variance is unfavorable.

Which of the following is a cash equivalent?

[removed]Accounts receivable

[removed]Certificates of deposit that mature in less than three months

[removed]Certificates of deposit that mature in one year or less

[removed]Prepaid expenses

All of the following are business reasons for adopting environmentally sustainable practices except:

[removed]cost reduction.

[removed]competitive strategy.

[removed]stakeholder influence.

[removed]historical orientation of accounting

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