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Problem 1: Which of the following statements is correct?
A. A financial controller is only responsible for financial accounting.B. The primary role of the finance function of an organisation is to liaise with banks and financial intuitions to obtain finance to fund operations.C. In some organisations, management accountants are located in factories.D. Management accountants are responsible for external reporting as well as providing information to internal managers.
Problem 2: The 'vision' of an organisation
A. refers to the desired future state of an organisation.B. refers to a statement that defines the purpose of the organisation.C. refers to specific statements of objective, upon which goals can be set.D. is only useful for non-profit organisations.
A produce distributor uses 760 packing crates a month, which it purchases at a cost of $10 each. How much could the firm save annually in ordering and carrying costs by using the EOQ?
The standard hours allowed for the definite output of the month totaled 7,070 machine-hours. Evaluate what was the variable overhead efficiency variance for month?
The beginning balance of Accounts Receivable is $ 400,000 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June.
Enter the beginning account balances and post the effects to the appropriate Taccounts and determine ending account balances.
Explain the customer level cost and where would that cost fall in customer cost hierarchy - what is the cost driver to be used as allocation base?
Compute the amount of the inventory at December 31, 2008, under the dollar-value LIFO method and compute the inventory on that date under the dollar-value LIFO method.
Earnings (net income) $188,000 Preferred stock (11,900 shares at $40 par, 2%) $476,000 Common stock (45,000 shares no par, market value $48)
Using the above information, prepare a cost of goods manufactured statement. Using the above information, prepare a cost of goods sold statement.
What would be the APR (Nominal rate per year) if the card compounds monthly? What would be the APR if the card compounds every quarter?
Identify at least three methods for allocating costs? When is each method used? What are the pros and cons of each? How is it related to cost allocation?
Let's assume that both direct material costs and plant leasing costs are for the production of 1,800,000 units. What would be the direct material cost of each of these units produced?
Suggest and calculate performance indicators that could be calculated for each of the four perspectives on the balanced scorecard. Suggest how this information would be interpreted.
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