BA 225 Managerial Accounting Final Exam

Managerial Accounting Final Exam

QUESTION 1

What is the difference between financial ACCOUNTING and managerial accounting?

10 points

QUESTION 2

Explain the two reasons why the shorter the payback period the more attractive the investment is when the payback technique is used?

10 points

QUESTION 3

Distinguish between a master budget and a sales forecast.

10 points

QUESTION 4

Explain the nature and importance of a JOB cost sheet.

10 points

QUESTION 4

Explain the nature and importance of a JOB cost sheet.

10 points

QUESTION 5

Distinguish among operating, investing, and FINANCING activities.

10 points

QUESTION 6

Managers’ activities and responsibilities can be classified into three broad functions. List and discuss each function.

10 points

QUESTION 7

Identify and discuss the relevant costs in accepting an order at a special price. 10 points

10 points

QUESTION 8

Smith & Company claims that the relevant range concept is only important for variable costs. Explain the relevant range concept and discuss whether you agree with Smith & Company. 10 points

10 points

QUESTION 9

What is a CVP analysis and how is it used in managerial accounting?

10 points

QUESTION 10

What is the difference between: unit-level, batch-level, product-level, and facility-level activities?

10 points