Exam Review Acc 610 - 1521 Words

1) Both managerial and financial accounting are governed by GAAP a) True b) False 2) Management accounting information is only used by manufacturing organizations. a) True b) False 3) The managerial activity of monitoring a plan’s implementation and taking corrective action as needed is referred to as decision-making. a) True b) False 4) Expired costs are called assets. a) True b) False 5) A cost object is any item such as products, customers, departments, regions, and so on, for which costs are measured and assigned. a) True b) False 6) Period costs are those costs associated with the manufacture of goods or the providing of services. a) True b) False 7)†¦show more content†¦If Melody wants to earn an operating profit of $880, how many units must it sell? A) 1,480 B) 1,260 C) 1,040 D) 62 E) 247 Figure 1. Xeller Company makes electronic keyboards. The practice model price is $220 and variable expenses are $190. The deluxe model price is $340 and variable expenses are $250. The professional model price is $1,200 and variable expense per unit is $800. Total fixed expenses are $187,000. Generally, Xeller sells 6 practice models and 3 deluxe models for every professional model sold. 27) Refer to Figure 1. Using the sales mix stated in the facts from Figure 1 to form a package, what is the total package contribution margin? A) $850 B) $450 C) $520 D) $1,890 E) $587 28) Refer to Figure 1. What is the number of practice models sold at breakeven? A) 850 B) 220 C) 180 D) 1,320 E) 440 29) Refer to Figure 1. What is the number of deluxe models sold at breakeven A) 220 B) 660 C) 1,320 D) 850 E) 440 30) Refer to Figure 1. What is the number of professional models sold at breakeven? A) 220 B) 850 C) 400 D) 4,675 E) 440 31) Refer to Figure 1. What is the overall sales revenue at breakeven? A) $778,800 B) $387,200 C) $1,288,700 D) $2,067,800 E) $968,000 --Show MoreRelatedMath 5404111 Words   |  17 PagesFIN 534 – Financial Management (Prerequisite: ACC 557 or ACC 560) COURSE DESCRIPTION Introduces the concepts of finance. Reviews the basic tools and their use for making financial decisions. Explains how to measure and compare risks across investment opportunities. Analyzes how the firm chooses the set of securities it will issue to raise capital from investors as well as how the firm’s capital structure is formed. Examines how the choice of capital structure affects the value of the firm. PresentsRead MoreInternational Financial Accounting155754 Words   |  624 Pagesthe best strategies for studying for ACCA exams We highlight the most important elements in the syllabus and the key skills you will need We signpost how each chapter links to the syllabus and the study guide We provide lots of exam focus points demonstrating what the examiner will want you to do We emphasise key points in regular fast forward summaries We test your knowledge of what you ve studied in quick quizzes We examine your understanding in our exam question bank We reference all the imp ortantRead MoreBohlander/Snell-Managing Hr24425 Words   |  98 Pages†¢ Portugal INDEPENDENT †¢ Brazil †¢ India †¢ Japan †¢ Israel Source: Simcha Ronen and Oded Shenkar, â€Å"Clustering Countries on Attitudinal Dimensions: A Review and Synthesis,† Academy of Management Review 10, no. 3 (July 1985): 435–54. Copyright  © 1985 by Academy of Management Review. Reprinted with permission of the Academy of Management Review via Copyright Clearance Center. strong loyalty to their company, although this may be changing. Japanese companies no longer universally guarantee an