Download UGBA 102B Final Exam Questions And Answers and more Exams Entrepreneurship in PDF only on Docsity!
Answers
Prime Cost - correct answer ✅DM + DL Conversion Cost - correct answer ✅DL + MOH Cost Per Equivalent Unit - correct answer ✅Applicable Cost/ Applicable Equivalent Units of Production Production Units - correct answer ✅Total Production Units= Budgeted Sales in Units + Desired in Ending FIG inventory - Desired in Beginning FIG Inventory General Production Needs Formula - correct answer ✅FG1= FG0+ Production - Sales Total Budgeted DL Cost - correct answer ✅Estimated Total DL hours x Estimated DL per hour
Answers
Spending Variance - correct answer ✅Actual Results - Budget Flexible Budget - correct answer ✅Budgeted FC + (Units x Budgeted VC per unit) MQV - correct answer ✅SP(AQ-SQ) MPV - correct answer ✅AQ(AP-SP) LRV/ VOH Rate Variance - correct answer ✅AH(AR-SR) LEV/ VOH Efficiency - correct answer ✅SR(AH-SH)
Answers
FIFO: Applicable Units - correct answer ✅Equivalent Units to Complete Beg. WIP + Units started & finished in the month + Equivalent units in ending WIP **Beg. WIP(1-Completed %)+ (Units Started- End WIP) + End WIP(Completed %) FIFO: Applicable Costs - correct answer ✅Costs during period only General Inventory Count - correct answer ✅i1 = i0 + inflow - outflow or WIP1= WIP0 + Costs Added - Costs Transferred Out WAM: Costs Transferred Out - correct answer ✅(Costs in Beginning Inventory + Costs during the month) / (Ending Inventory + Units Finished) FIFO: Costs Transferred Out - correct answer ✅Costs in Beg. Inventory + Costs to complete/ Beg. Inventory + Cost of Units started & Finished
Answers
Operating Income - correct answer ✅EBIT or Gross Margin-(SG&A, Marketing, Distribution Costs) Residual Income - correct answer ✅Operating Income- Capital Charge **Capital Charge also means Min. Required Return Capital Charge - correct answer ✅Avg. Operating Assets x Company Cost of Capital Economic Value Added - correct answer ✅After-Tax Operating Income x Cost of Capital After-Tax Operating Income - correct answer ✅Total Assets - Current Liabilities
Answers
Transfer Pricing (Ex.) - correct answer ✅Retail: Sales Price- Transfer Price Production: Transfer Price- Contribution Margin Contribution Margin - correct answer ✅Selling Price- Variable Cost Gross Margin - correct answer ✅Revenue - COGS Balanced Scorecard - correct answer ✅Financial, Customer, Internal Biz Process, Learning & Growth Transfer Pricing (Idle Capacity) - correct answer ✅Min: VC Max: Cost of buying the good externally
Answers
Transfer Pricing (General) - correct answer ✅Min: VC + Contribution Margin on Foregone Sales Max: Cost of buying good externally Tax Savings from Depreciation - correct answer ✅Tax Rate * Depreciation Journal Entries for Raw Materials - correct answer ✅Debit: Cost of Purchase Credit: DM-WIP, Indirect-MOH Journal Entries for MOH - correct answer ✅Debit: Underapplied--
add to COGS; Actual OH incurred Credit: Overapplied--> Subtract from COGS; Applied OH WIP Journal Entries for Salaries and Wages Payable - correct answer ✅Credit: DL-WIP; Indirect Labor- MOH
Answers
can also be calculated as (NOI-RI)/AOA **Note: No TVM or CF; add back depreciation to NOI to get Inflows Payback Period - correct answer ✅Initial Investment/ Annual Net Cash Inflow **Note: No TVM or CF after Payback Ranking Prouducts - correct answer ✅1. Identify Constraint
- Get CM
- CM/Constraint
- Rank by whichever has the highest Annual Net Cash Inflow - correct answer ✅Add back Depreciation to Net Operating Income
Answers
Financial Advantage - correct answer ✅CM- Avoidable Costs Markup - correct answer ✅(Selling Price - Cost)/ Cost Markup on Absorption - correct answer ✅(Required ROI x Investment) + SG&A/ (Unit Product Costs x Sales) ROI - correct answer ✅Net Operating Income/ Average Operating Assets Value Based Pricing or Economic Value to Customer - correct answer ✅Reference Value + Differentiation Value Target Costing - correct answer ✅Anticipated Selling Price- Desired Profit
Answers
Target Profit - correct answer ✅(Target Profit +FE)/ CM Ratio CM Ratio - correct answer ✅1. CM Sales/ Sales
- CM Per Unit/ Price Per Unit
- 1- Variable Expense Ratio Change in Profit - correct answer ✅CM Ratio x Change in Sales - Fixed Expenses Operating Leverage - correct answer ✅Total CM/ Net Operating Income *The higher, the more sensitive to change Margin of Safety - correct answer ✅(Sales-BE Sales)/ Sales
Answers
Actual - Applied MOH - correct answer ✅Use POHR to calculate (If + = Under, - = Over) Units Produced> Units Sold - correct answer ✅Inventories Increase, Absorption Costing NOI> Variable Costing NOI Process Costing - correct answer ✅Better for Homogeneous Products Delivery Cycle - correct answer ✅Wait + Throughput Time Samples of Irrelevant Costs - correct answer ✅Cost of Acquiring Accumulated Depreciation Book Value Special Order Pricing - correct answer ✅Include:
Answers
Relevant Range - correct answer ✅the range of activity in which the assumptions about variable and fixed cost behavior are valid Linear assumption of costs and volume - correct answer ✅The linear assumption is reasonably valid providing that the cost formula is used only within the relevant range y=mx+b - correct answer ✅B= fixed costs M or the Slope = Variable Costs Journal Entry for Labor - correct answer ✅Debit: Direct or Indirect Labor Credit: Salaries Payable Journal Entry for Requisitioning Raw Materials - correct answer ✅Debit: WIP inventory or MOH Applied Credit: Raw Materials
Answers
Journal Entry for associated costs are transferred to an expense (cost) account - correct answer ✅Debit: COGS Credit: FG Variable Costing - correct answer ✅Period: DM+DL+VMOH Product: FMOH+SG&A Absorption Costing - correct answer ✅Period: DM+DL+VMOH+FMOH Product:SG&A Journal Entry for Depreciation - correct answer ✅Debit: Depreciation Expense or MOH Credit: Accumulated Depreciation Journal Entry for Completing WIP - correct answer ✅Debit: FG
Answers
Workers who touch items (Salaries) Insurance for DL Employees Anything related to Equipment (Rent) Packaging Depreciation on anything workers use (even lunchtables) POHR - correct answer ✅Total Estimated Cost/ Total Estimated Units in Allocation Base Resolving Underapplied MOH - correct answer ✅Debit: COGS Credit: MOH Activity Rates - correct answer ✅Total Cost/ Total Activity Journal Entry for Inter-department Transfer - correct answer ✅Debit & Credit WIP
Answers
Journal Entry for MOH - correct answer ✅Debit: WIP Credit: MOH Journal Entry for Sold Item - correct answer ✅Debit: COGS Credit: Finished Goods Contribution Margin at BE - correct answer ✅Fixed Expenses Incremental Change or Financial Impact on Sales - correct answer ✅Multiply New CF by CM margin OR Incremental Revenue- Incremental Costs First Stage Allocation - correct answer ✅$Cost * %Consumption
