Final Sınavı - Cost And Management Accountıng

Soru 1:

Which of the following is not an objective of managers for budgeting?

A) informaing employees about the actual and budgeted results, and take corrective actions B) allocating the company’s resources to each operation effectively, C) communicating the objectives and goals to the subordinates, D) motivating the superiors and subordinates towards the goals E) providing coordination among all divisions or employees

Soru 2:

Which one of the following is the first stage of decision making activity?

A) Collecting all the data needed for decision making B) Identifying and explaining the problems C) Determining which basis to decide D) Formulating an application plan E) Reviewing the alternatives

Soru 3:

Which of the following reflects the production process that is as efficient as possible under normal conditions?

A) Ideal standards B) Currently achievable standards C) Fixed standards D) Kaizen standards E) Authoritative standards

Soru 4:

The direct labor efficiency variance is related to the difference between the actual and needed number of hours for the actual production.

A) Direct materials efficiency variance B) Direct materials price variance C) The direct labor efficiency variance D) Direct labor price variance E) Flexible budget variance

Soru 5:

which of the following is not a quality characteristic of good decision making?

A) Effective B) Efficient C) Practicable D) Made on time E) unsustainable

Soru 6:

Which is one of the disadvantages of CVP analysis?

A) It determines the lowest amount of production. B) It determines the activity volume that will meet the new investments. C) It evaluates the implemented managerial policies by comparing the planned and the actual breakeven point. D) It is assumed that the total revenue and total cost are linear. E) It helps to choose the most profitable production types and helps to generate product mix.

Soru 7:

How can we calculate the sales-volume variance?

A) (Actual sales volume + Budgeted sales volume) x Budgeted selling price B) (Actual sales volume - Budgeted sales volume) x Budgeted selling price C) (Actual sales volume + Budgeted sales volume) / Budgeted selling price D) (Actual sales volume - Budgeted sales volume) / Budgeted selling price E) (Actual sales volume + Budgeted sales volume) x Actual selling price

Soru 8:

Short-term budgets Long-term budgets Master budgets Static (fixed) budgets Flexible budgets Which of the above are the budget types depending on the classification according to capacity utilization?

A) I and II B) I and III C) II and III D) IV and V E) I, II and III

Soru 9:

I. Programmed Decisions II. Strategic Decisions III. Operational Decisions Which of the decision types above is related to management levels?

A) Only I B) Only III C) I and II D) II and III E) I, II and III

Soru 10:

Which type of budgets is the comprehensive set of schedules and budgets that covers all phases of the company’s operations and describes the company’s overall financial plans for the following period?

A) Short-term budgets B) Master budgets C) Functional budgets D) Operating budgets E) Static budgets

Soru 11:

The production budget describes how many units to produce in order to satisfy the ending inventory requirements, after selling the expected number of units. In order to plan the production, managers should consider expected sales volume, units of beginning inventory, and desired level of ending inventory. If the company is a merchandising company, no production budget is prepared. Instead of production budget, merchandising companies prepare Merchandise Purchase Budget to identify the needed units of merchandise inventory to purchase during the year. The basic format of Merchandise Purchase Budget budget is the same as the production budget, except that the bottom line represents “budgeted purchases”. Which of the statements above are correct?

A) I and II B) II and IV C) I, III and IV D) I, II, III and V E) I, II, III, IV and V

Soru 12:

Which of the following is the combination of operational and financial budgets covering all aspects of company’s operations for a period of time?

A) Financial budget B) Master budget C) Capital budgeting D) Operating budget E) Financial budget

Soru 13:

It is essential to make assumptions in CVP analysis so as to help managers while decision making. Managers should evaluate the results by taking these assumptions into consideration. Assumptions can be grouped under some heading which one is not one of them?

A) Expenses must be classified as fixed and variable. B) It must be assumed that total fixed expenses aren’t affected by the rise in the volume of activity and that variable expenses can change regarding the rise in the volume ofactivity. In other words, the cost function is assumed to be linear C) It is assumed that the efficiency of production factors are constant D) No extraordinary income or expenditure has emerged E) Risks and uncertain conditions are accepted

Soru 14:

In which method, are expenditures for all manufacturing related factors included in the product cost?

A) Direct Costing Method B) Variable Costing Method C) Throughput Costing Method D) Full Costing Method E) Normal Costing Method

Soru 15:

"Capital budgeting.........................." Which of the following best completes the statement above?

A) is a quantitative expression of the managements’ plans for a specific period oftime, either in physical or financial terms or both. B) should be backed by realities and depend on reasonable expectations and be applicable. C) is the process of evaluating the feasibility of a project, using some indicators such as rate of return and the time needed to pay back D) represents the detailed plan of how the company will acquire and use financial and other resources during the following budget period E) reflect the expected results of their planned actions and control the balance between their revenues and expenses

Soru 16:

I. Fixed standards II. Authoritative standards III. Kaizen standards Which of the above standards fall under the classification according to updating frequency?

A) Only II B) Only III C) I and II D) I and III E) I, II and III

Soru 17:

All fixed costs are considered as period expenses. Fixed costs would still exist even if there were no production and this makes those factors irrelevant for calculating the manufacturing cost. Variable non-manufacturing costs are excluded despite their variable nature. Which costing method by scope is defined above?

A) Full Costing Method B) Normal Costing Method C) Variable Costing Method D) Direct Costing Method E) Throughput Costing Method

Soru 18:

Which of the following is prepared considering the strategic goals and the mission of the company?

A) Static budget B) Master budget C) Long-term budget D) Functional Budget E) Financial budget

Soru 19:

Which of the following is not one of the budgeting techniques?

A) Incremental Budgeting B) Zero-Based Budgeting C) Activity-Based Budgeting D) Activity-Based Budgeting E) Profit-based budgeting

Soru 20:

Which of the following is not one of the contribution of the information produced by cost accounting?

A) Determination of unit cost B) Providing expense control C) Planning D) Contributing special purpose decisions E) Decreasing costs