MA Week 1 - Introduction

Question 1 of 13

1

This graph is an example of which kind of cost?

Select one of the following:

Fixed
Variable
Inventoriable
Period

Explanation

Question 2 of 13

1

This graph is an example of which kind of cost?

Select one of the following:

Fixed
Variable
Inventoriable
Period

Explanation

Question 3 of 13

1

Identify which of these costs are INVENTORIABLE?
Each of the following cost items pertains to one of these companies: Westinghouse (a manufacturing sector company), Kmart (a retail sector company) and Google (a service sector company)

Select one or more of the following:

Mineral water purchased by Kmart for sale to its customers
Electricity used to provide lighting for assembly line workers at a Westinghouse refrigerator assembly plant
Depreciation on Google's computer equipment used to update directories of websites
Electricity used to provide lighting for Kmart's store aisles
Depreciation on Westinghouse's computer equipment used for quality testing of refrigerator components during the assembly process
Salaries of Kmart's marketing personnel planning local newspaper advertising campaigns
Mineral water purchased by Google for consumption by its software engineers
Salaries of Google's marketing personnel selling banner advertising

Explanation

Question 4 of 13

1

What is the purpose of management accounting?

Select one of the following:

To help managers make decisions to fulfil an organisation's goals
To communicate organisation's financial position to investors, banks, regulators and other outside parties

Explanation

Question 5 of 13

1

Which is the correct value chain?

Select one of the following:

Research and Development
Design of products, services or processes
Production
Marketing
Distribution
Customer Service
Design of products and services
Production
Marketing
Distribution
Review and Assess
Research and Development
Design of products, services or processes
Assembly
Distribution
Research and Development
Production
Advertising
Distribution
Customer Service

Explanation

Question 6 of 13

1

Which of these is NOT a Management Accounting Principles (CIMA)? (2)

Select one or more of the following:

Integrity
Objectivity
Competence and due care
Confidentiality
Professional behaviour
Respect
Responsibility

Explanation

Question 7 of 13

1

Which of these can be cost objects?

Select one or more of the following:

Product
Services
Project
Customers
Activity
Department

Explanation

Question 8 of 13

1

Overhead is any manufacturing cost that is not direct materials or direct labour

Select one of the following:

True
False

Explanation

Question 9 of 13

1

How much does it cost to produce 2,000 boxes?

Select one of the following:

$5,500
$5,000
$10,000
$10,500

Explanation

Question 10 of 13

1

How much does it cost to produce one box?

Select one of the following:

$502.50
$2.75
$500
$2.50

Explanation

Question 11 of 13

1

Budget for 1,000 units
How much of lighting should be distributed to each unit?

Select one of the following:

$0.50
$500
$2.50
$3

Explanation

Question 12 of 13

1

Budget for 1,000 units
What is the value of 2,000 units in the Finished Goods inventory?

Select one of the following:

$6,000
$5,500
$5,000
$6,500

Explanation

Question 13 of 13

1

Budget for 1,000 units
What is the value of 1 unit in the Finished Goods inventory?

Select one of the following:

$3
$2.50
$2.75
$0.5

	Created by Alexis Wyatt over 6 years ago

Management Accounting Quiz on MA Week 1 - Introduction, created by Alexis Wyatt on 11/04/2018.

MA Week 1 - Introduction

Question 1 of 13

This graph is an example of which kind of cost?

Select one of the following:

Explanation

Question 2 of 13

This graph is an example of which kind of cost?

Select one of the following:

Explanation

Question 3 of 13

Identify which of these costs are INVENTORIABLE? Each of the following cost items pertains to one of these companies: Westinghouse (a manufacturing sector company), Kmart (a retail sector company) and Google (a service sector company)

Select one or more of the following:

Explanation

Question 4 of 13

What is the purpose of management accounting?

Select one of the following:

Explanation

Question 5 of 13

Which is the correct value chain?

Select one of the following:

Explanation

Question 6 of 13

Which of these is NOT a Management Accounting Principles (CIMA)? (2)

Select one or more of the following:

Explanation

Question 7 of 13

Which of these can be cost objects?

Select one or more of the following:

Explanation

Question 8 of 13

Overhead is any manufacturing cost that is not direct materials or direct labour

Select one of the following:

Explanation

Question 9 of 13

How much does it cost to produce 2,000 boxes?

Select one of the following:

Explanation

Question 10 of 13

How much does it cost to produce one box?

Select one of the following:

Explanation

Question 11 of 13

Budget for 1,000 units How much of lighting should be distributed to each unit?

Select one of the following:

Explanation

Question 12 of 13

Budget for 1,000 units What is the value of 2,000 units in the Finished Goods inventory?

Select one of the following:

Explanation

Question 13 of 13

Budget for 1,000 units What is the value of 1 unit in the Finished Goods inventory?

Select one of the following:

Explanation

Identify which of these costs are INVENTORIABLE?
Each of the following cost items pertains to one of these companies: Westinghouse (a manufacturing sector company), Kmart (a retail sector company) and Google (a service sector company)

Budget for 1,000 units
How much of lighting should be distributed to each unit?

Budget for 1,000 units
What is the value of 2,000 units in the Finished Goods inventory?

Budget for 1,000 units
What is the value of 1 unit in the Finished Goods inventory?