Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Managerial Accounting Expert

problem 1: Guido Guitar (GG) planned to sell 280,000 guitars at $400 each but actually sold 250,000 at $425 each. Which of the following is TRUE of GG's sales quantity variances?

a) $12 million U
b) $5.75 million F
c) $5.75 million U
d) $6.25 million U

problem 2: Which if the following statements is FALSE of Total Quality Management (TQM)?

a) TQM is focused on improving product and customer service quality.
b) TQM is expensive to initiate.
c) TQM requires top management support.
d) TQM requires ISO 9000 certification.

problem 3: The _________ perspective of the balanced scorecard focuses on the infrastructure of the organization.

a) financial
b) customer
c) internal business process
d) innovation and learning

problem 4: _________ provides consumer name recognition, which lowers the information cost of introducing new products.

a) Business capital
b) Brand-name capital
c) Marketing capital
d) Pricing capital

problem 5: Budgeted, standard, and actual volume measures differ in terms of when they are _________.

a) dispersed
b) computed
c) managed
d) tracked

problem 6: Cost of quality data for Zach's Zambonis (ZZ) appears below.
                                                      $ thou
Engineering tests at supplier's factory    18
Field testing new product                    12
Inspection cost                                 42
Process re-engineering                        50
Product redesign                                42
Rework                                             45
Sales returns (at cost)                       105
Scrap                                              22
Training employees on a new system     6
Warranty repairs                                60
Waste                                              14

For Zach's Zambonis, which of the following statements is TRUE?

a) Prevention costs are $116,000.
b) Prevention costs are $116,000.
c) Internal failure costs amount to $186,000.
d) External failure cost ZZ $105,000.

problem 7: CarloffCremes (CC) planned to sell 40,000 Queen size at $20 each and 20,000 King size at $15 each. Actual sales of the former were 45,000 and 25,000 of the latter, at $19 and $16 respectively. Which of the following is TRUE of CC's sales mix variance?

a) $0
b) $175,000 F
c) $28,333 F
d) $8,333 U

problem 8: Which of the following is TRUE?

a) Budgeted fixed factory overheads = Budgeted overheads per unit × actual volume
b) Budgeted fixed factory overheads = Budgeted overheads per unit × standard volume
c) Budgeted factory overheads = Budgeted fixed overheads per unit × budgeted volume + variable overheads
d) Budgeted factory overheads = Budgeted fixed overheads + planned variable overhead per unit × planned volume

problem 9: Which of the following statements is FALSE of Just-In-Time (JIT) manufacturing systems?

a) Demand pull means a closer relationship with the customer.
b) The power of suppliers is reduced.
c) Warehousing space and equipment needs are reduced.
d) After process re-engineering, time to complete the product is reduced.

problem 10: CarloffCremes (CC) planned to sell 40,000 Queen size at $20 each and 20,000 King size at $15 each. Actual sales of the former were 45,000 and 25,000 of the latter, at $19 and $16 respectively. Which of the following is TRUE of CC?

a) The sales price variance is $20,000 F
b) The sales variance is $175,000 F
c) The sales price variance is $20,000 U
d) The sales variance is $20,000 U

problem 11: The following information is for the third quarter of this year:
                                                 Planned               Actual
Production                                   92,000 units         87,000 units
Direct labor hours                          506,800 DL hrs     380,000 DL hrs
Fixed manufacturing overhead          $205,000             $182,400
Variable manufacturing overhead      $910,000             $841,500
Standard direct labor hour per unit    5.5   

find out the following three overhead variances.

a) Overhead volume variance
b) ?Overhead efficiency variance ?
c) Overhead spending variance

problem 12: The purchasing department of Bradley Inc. is responsible for companywide purchasing. Its total costs are assigned to each division based on the number of purchase orders the purchasing department processes for each division. The purchasing department's fixed costs are $300,000 per year, and it expects to process15, 000 purchase orders (POs) at a variable cost of $50 per purchase order. Purchasing costs do not include the cost of the items purchased.

Purchasing processed 16,000 POs during the year and incurred total costs (excluding the cost of the items purchased) of $1,180,000.

Answer all the problems below in full detail:

a) Design a performance evaluation report for the purchasing department.
b) Describe what each item in the report measures.
c) Evaluate the performance of the purchasing department.
d) What other performance measures would you want to collect and report for the purchasing department?

Managerial Accounting, Accounting

  • Category:- Managerial Accounting
  • Reference No.:- M9688

Have any Question? 


Related Questions in Managerial Accounting

Free cash flow you are considering an investment in cruise

Free Cash Flow: You are considering an investment in Cruise, Inc. and want to evaluate the firm's free cash flow. From the income statement, you see that Cruise earned an EBIT of $206 million, paid taxes of $47 million, ...

Managerial accounting-you have just been hired as a

Managerial Accounting- You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company's financial statement ...

Need research paper by december 5th 2016compose a research

Need Research Paper by December 5th, 2016 Compose a research paper that discusses the use of either the balanced scorecard or economic value added as a tool for improving organization performance. The paper must be doubl ...

Wyoming community college has three divisions liberal arts

Wyoming Community College has three divisions: Liberal Arts, Sciences, and Business Administration. The college's comptroller is trying to decide how to allocate the costs of the Admissions Department, the Registrar's De ...

Assignment managerial accounting projectabstractyou are the

ASSIGNMENT: Managerial Accounting Project Abstract: You are the owner of your own company. Fast growth and the need to expand have made it necessary for you to seek financing from a local bank. However, you need to show ...

May airlines is a leading business in travelling industry

May Airlines is a leading business in travelling industry and has experienced turbulent times during the past 10 years due to stiff competition and as a result of global slowdown in the world economy. It has now emerged ...

Managerial accountingvenus brewery is a craft brewery that

Managerial Accounting Venus Brewery is a craft brewery that produces a special light beer for ladies. The beer are processed sequentially in two departments (Department X and Department Y) before the final products are t ...

Suppose a firm has had the following historic sales

Suppose a firm has had the following historic sales figures: 2009: 1,450,000 2010: $ 1,710,000 2011 : $ 1,600,000 2012: $ 2,000,000 2013: $ 1,850,000 What would be the forecast for next year's sales using regression to e ...

Accounting assessment1 ohio corporation sells its product

Accounting Assessment 1. Ohio Corporation sells its product for $16 per unit and incurs variable costs of $10 per unit and total fixed costs of $12,000. What is Ohio Corporation's break-even point for sales of this produ ...

Accounting for managers- assignmentfinancial statement

Accounting for Managers- Assignment Financial Statement Analysis The following information relates to Harris Corporation. Account Current year Prior year Net sales (all credit) $520,125 $499,500 Cost of goods sold $375,9 ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro