Mgmt 650 Final Exam

MGMT 650 Final Exam  


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Question 1

A typical use of managerial accounting is to:

( ) help investors and creditors assess the financial position of the company.

( ) help management get a clean audit report

() help the marketing manager decide which product promotion to implement

( ) help the SEC decide whether management is in compliance of its policies.

Question 2

Three costs incurred by Pitt Company are summarized below:

1,000 units 2,000 units

Cost A $10,000 $15,000

Cost B $21,000 $21,000

Cost C $16,000 $32,000

Which of these costs are variable?

( ) A, B, and C

( ) A and B

( ) A only

() C only

Question 3

Bubba's Steakhouse has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: Materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,680; depreciation, $710; and other fixed costs, $590. Each steak dinner sells for $12.80 each. How much would Shula’s profit increase if 10 more dinners were sold?

Question 4

Bellfont Company produces door stoppers. August production costs are below:

Door Stoppers produced 74,000

Direct material (variable) $20,000

Direct labor (variable) 40,000

Supplies (variable) 20,000

Supervision (fixed) 25,900

Depreciation (fixed) 24,500

Other (fixed) 5,400

In September, Bellfont expects to produce 100,000 door stoppers. Assuming no structural changes, what is Bellfont’s production cost per door stopper for September?

Question 5

Aaron's chairs is in the process of preparing a production cost budget for August. Actual costs in July for 120 chairs were:

Materials cost $4,790

Labor cost 2,810

Rent 1,500

Depreciation 2,500

Other fixed costs 3,200

Materials and labor are the only variable costs. If production and sales are budgeted to change to 130 chairs in August, how much is the expected total variable...