Accounting 285 Final exam
Accounting 285 Final exam
Exam Length:you may take up to 90 minutes
Format: – 30 multiple choice questions (4 pts per question for a total of 120 points + 1 bonus question) – Questions are a mix of conceptual and computational.
CHAPTER 1 (1 question)
Understand the purpose of managerial accounting – 1 question
CHAPTER 2 (2 questions)
Understand the difference between manufacturing (product) costs and non-manufacturing (period) costs. – 1 question
Understand cost behavior patterns including variable, fixed, and mixed costs. – 1 question
CHAPTER 3 (2 questions)
Understand contribution margin and contribution margin ratio. – 1 question
Understand and determine the break-even point. – 1 question
CHAPTER 4 (1 question)
Understand pre-determined overhead rate: how to calculate it and why it is needed. – 1 question
CHAPTER 5 (1 question)
Determine cost (per unit and in total) and operating income using variable costing – 1 question
CHAPTER 6 (1 question)
Calculate product costs assigned to a cost object by using activity-based costing including first and second stage allocations – 1 question
CHAPTER 7 (2 questions)
Understand cost classifications used in making decisions and identify relevant costs in decision making –1 question
Make a special order decision –1 question
CHAPTER 8 (1 question)
Evaluate the acceptability of an investment project using net present value including even and uneven cash flows – 1 question
CHAPTER 9 (1 question)
Prepare a master budget – 1 question
CHAPTER 10 (1 questions)
Create a flexible budget including activity and spending variances – 1 question
CHAPTER 11 (7 questions)
Compute standard cost variances – 4 questions
Understand standard cost variances and their causes – 3 questions
CHAPTER 12 (8 questions)
Identify a rational transfer price – 1 question
Calculate return on investment – 1 question
Evaluate segment performance using return on investment – 1 question
Calculate residual income – 1 question
Evaluate segment performance using residual income – 1 question
Understand the balanced scorecard – 1 question
Understand how performance measures impact behavior – 1 question
Calculate delivery cycle time, throughput time, and manufacturing cycle efficiency – 1 question
APPENDIX A (3 questions)
Make a pricing decision using a cost based with market or find target cost for a new product – 3 questions