This quiz works best with JavaScript enabled. Home > Finance > Accounting > Managerial Accounting > Managerial Accounting – Quiz 22 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Managerial Accounting Quiz 22 (22 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. All of the following can be differential cost except A) Opportunity Costs. B) Variable Costs. C) Sunk Costs. D) Fixed Costs. Show Answer Correct Answer: C) Sunk Costs. 2. High production volume; Highly standardizedCommodity products A) Batch. B) Continuous Flow. C) Job Shop. D) Assembly. Show Answer Correct Answer: B) Continuous Flow. 3. Fasai Tour Company Organized a trip to see cherry blossoms in Japan, but not all seats were sold yet. Therefore would like to issue a fire promotion for selling the last 2 seats. Therefore, he wanted students to help determine what price would be appropriate and make the company profitable. The company has provided relevant information as follows:Variable costs (airfare, accommodation, food, etc.) 20, 000 baht/person, fixed costs. (Operating expenses) 80, 000 baht. Normal tour selling price is 30, 000 baht/person. Total seats:15 seats. A) 17, 999 baht. B) 22, 999 baht. C) 15, 999 baht. D) 12, 999 baht. E) 19, 999 baht. Show Answer Correct Answer: B) 22, 999 baht. 4. Which of the following is not one of the IMA's credibility standards? A) To disclose all relevant information. B) To disclose deficiencies in internal control. C) To communicate information fairly and objectively. D) All of the above are part of IMA's credibility standard. Show Answer Correct Answer: D) All of the above are part of IMA's credibility standard. 5. The cost most closely proportional to factory overhead costs. A) Salaries. B) Base Activity. C) Materials. D) Utilities. Show Answer Correct Answer: B) Base Activity. 6. ..... accounting is emphasizes reporting to external users A) Business. B) Managerial. C) Management. D) Financial. Show Answer Correct Answer: D) Financial. 7. Which is a SIMILARITY of Managerial and Financial Accounting? A) They both follow GAAP guidelines. B) Reports information to help with future decisions. C) Focuses on different parts of the business instead of the whole. D) Reports on past business. Show Answer Correct Answer: B) Reports information to help with future decisions. 8. The management of an organization performs several broad functions. They are: A) Planning, directing, and selling. B) Planning, directing, and controlling. C) Planning, manufacturing, and controlling. D) Directing, manufacturing, and controlling. Show Answer Correct Answer: B) Planning, directing, and controlling. 9. PT Randevu in 2011 purchased a factory building for IDR 500 million, with a useful life of 20 years. Depreciation uses the straight line method. Costs and expenses in 2011 are: A) 500 million and 500 million. B) 500 million and 25 million. C) 25 million and 500 million. D) 500 million and 250 million. Show Answer Correct Answer: B) 500 million and 25 million. 10. Managerial accounting focuses on preparing the report for its internal users A) True. B) False. Show Answer Correct Answer: A) True. 11. Whether a cost is treated as direct or indirect depends on whether tracing the cost is either possible or feasible. A) T. B) F. Show Answer Correct Answer: A) T. 12. Internal cost and performance flows are billed using secondary cost elements in SAP ERP system A) True. B) False. Show Answer Correct Answer: A) True. 13. Fasai Tour Company A service for arranging Krabi sea tours on a One Day Trip basis and will make 50 lunch boxes for tourists per day, with raw material costs (rice, meat, eggs) 20 baht per box, labor costs for the cooks 5 baht per box, production costs. 7 baht per box (consisting of indirect raw materials, gas, water, and electricity costs of 2 baht per box and kitchen equipment depreciation of 5 baht per box). Later, a restaurant offered to produce boxed lunches for sale at a price of 30 baht/box, tour companies. clear sky Should you produce boxed lunches yourself or buy them from a store that offers them? A) Produce it yourself because it's cheaper than buying 3 baht/box. B) Buy from a restaurant Because it's cheaper than producing it yourself, 5 baht/box. C) Produce it yourself because it's cheaper than buying 5 baht/box. D) You can produce it yourself or buy it. Because the costs are not much different. E) Buy from a restaurant Because it's cheaper than producing it yourself, 2 baht/box. Show Answer Correct Answer: A) Produce it yourself because it's cheaper than buying 3 baht/box. 14. During March, Adams Company had sales of P5, 000, 000, variable expenses of P3, 000, 000 and fixed expenses of P1, 500, 000. Assume that cost behavior and unit selling price remain unchanged during April. In order for the company to realize net operating income of P300, 000 for April, sales would be: A) Pch, 500, 000. B) Sell, 750, 000. C) Pch, 800, 000. D) Pch, 050, 000. Show Answer Correct Answer: A) Pch, 500, 000. 15. Which of the Following three processes takes place at the beginning of a cost center accounting process? A) Create cost center. B) Cost centers are organizational units, in which costs occur. C) Differentiation of cost centers occur only spatially. D) None of above. Show Answer Correct Answer: A) Create cost center. 16. Managerial accounting does not encompass A) Calculating product cost. B) Profit planning. C) Determining cost behavior. D) Calculating earnings per share. Show Answer Correct Answer: D) Calculating earnings per share. 17. Which is considered a major area of managerial accounting? A) Planning and forcasting. B) Cost and tax accounting. C) Internal Auditing. D) All are considered major areas. Show Answer Correct Answer: D) All are considered major areas. 18. ..... total cost and total revenue are equal. A) Cash flow analysis. B) Break even analysis. C) Product costing and valuation. D) None of above. Show Answer Correct Answer: B) Break even analysis. 19. Management accounting reports are prepared A) To meet the needs of decision makers within the firm. B) Whenever shareholders request them. C) According to guideline& prepared by the shales and Financial Services Authority. D) According to financial accounting standards. Show Answer Correct Answer: A) To meet the needs of decision makers within the firm. 20. The COGS account is found on the report: A) Income Statement. B) Cash Flow. C) Balance Sheet. D) Capital Changes. Show Answer Correct Answer: A) Income Statement. 21. It is not important that the activity base and overhead costs be causally related when developing a flexible budget. A) False. B) True. Show Answer Correct Answer: A) False. 22. Which simplify the process of evaluating a company's financial performance? A) Comparative income statement. B) Ratios. C) Vertical Analysis. D) Cash inflow budget. Show Answer Correct Answer: B) Ratios. ← PreviousRelated QuizzesAccounting QuizzesFinance QuizzesManagerial Accounting Quiz 1Managerial Accounting Quiz 2Managerial Accounting Quiz 3Managerial Accounting Quiz 4Managerial Accounting Quiz 5Managerial Accounting Quiz 6Managerial Accounting Quiz 7Managerial Accounting Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books