Mgmt 640 Final Exam Answers Part 1 and Part 2

MGMT 640 Final Exam Answers Part 1 and Part 2

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Question

Attempt 1

Written: May 10, 2015 10:18 AM – May 10, 2015 11:12 AM

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Released: Aug 11, 2014 12:01 AM

Available until: May 17, 2015 9:51 AM

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Question 1 1 / 1 point

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 1 / 1 point

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

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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), $1,800; depreciation, $720; and other fixed costs, $450. Each steak dinner sells for $12.00 each. How much would Shula’s profit increase if 10 more dinners were sold?

Question 4 0 / 1 point

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

Door Stoppers produced 78,000

Direct material (variable) $20,000

Direct labor (variable) 40,000

Supplies (variable) 20,000

Supervision (fixed) 26,500

Depreciation (fixed) 22,500

Other (fixed) 6,000

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 1 / 1 point

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