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ACCT2522-Management Accounting 1 - Semester 1,

2018
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Quiz 1

Question 1 One of the objectives of management accounting is to provide

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shareholders and potential investors with useful information for decision
making.

banks and other creditors with information useful in making credit

decisions.

management with information useful for planning and controlling

operations.

the Australian Tax O ce with information about taxable income.

Question 2 Which of the following statement/s is/are false? Management accountants

Not yet answered should:

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Select one:
i and ii
iii and iv

iii
iv

Question 3 Activity costs can be reduced by the following methods:

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Select one:
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activity elimination.

activity expansion.

activity selection.
Both A and C.

Question 4 Ine ciencies in a company include the following:

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storage of inventories.

rework.

inspection of WIP to identify defects.

all of the above.

 
 
 
               

Question 5  
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There are four main objectives in Process Analysis, what is the main objective
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Select one:
Understanding

Problem Solving

Prioritising
Monitoring

Question 6 From the following list of costs for a kitchen manufacturer, determine the amount
Not yet answered of value-added cost.
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Select one:
$57 000
$54 000

$58 000
$59 000

Question 7 If production increases, variable cost will:

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remain constant on a per unit basis
increase by a variable amount

vary on a per unit basis

remain unchanged

Question 8 Refer to the following data.

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The non-manufacturing costs are:

Select one:
$15 000

$70 000
$182 000
$372 000

Question 9 The variable costs per unit are $4 when a company makes 10 000 units. What are
Not yet answered the per unit variable costs when 8000 units are produced?

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Select one:
$6.00
$4.00

$4.50
$5.00

Question 10 Which of the following statement/s is/are true concerning cost estimation
Not yet answered methods?
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Select one:
Cost behaviour is always assumed to depend on more than one cost driver.
Cost behaviour patterns are curvilinear.

Costs and bene ts of using sophisticated and costly cost-estimation

methods must be evaluated.
Cost behaviour is always assumed to depend on more than one cost driver
AND costs and bene ts of using sophisticated and costly cost-estimation
methods must be evaluated.

Question 11 Consider the following statements about the two-stage cost allocation process.
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Which statement/s is/are correct?

Select one:
i, ii and iii

i and iii
iii
ii

Question 12 A cost pool is:

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a collection of costs to be assigned

the joint result of several subunit activities

the primary function of a responsibility accounting system

a performance report of the lowest level manager

Question 13 The production section of a rm is serviced by personnel and computing as

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Personnel costs are allocated on the number of employees and computing costs
on service hours. Overhead rates are based on labour hours. If the direct method
is used to allocate support department costs, what is the overhead rate for the
Assembly Department?

Select one:
$8
$9.25

$9.44

$10.69

Question 14 The Lots More Store has a Janitorial Department and a Personnel Department
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is allocated based on space and the Personnel Department cost is allocated
 is allocated based on space and the Personnel Department cost is allocated
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based on employees. The following information is available.

Using the direct method, calculate the amount of Janitorial Department cost
allocated to Sales Department #1.

Select one:
$5714

$5769

$6000
$6169

Question 15 The step/s used in cost allocation using departmental overhead rates include/s:
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Select one:
cost application based on consumption of cost drivers

cost traced and assigned to support departments

support department cost allocation

All of the given answers