ACC 227 ACC227 Module 4 Check Your Understanding Answers (AAU Online)
1.Characteristics of good personal budgeters include:
2.Research has shown that several behavioral factors determine how successful the budgeting process will be, these include:
3.To ensure that a budget is most likely to integrate the goals of the segments of a company, management should make sure that the company’s budgeting:
4.Another term for participative budgeting is:
5.In a manufacturing firm, the master budget begins with a forecast of:
6.To examine management’s goals and plans for revenues, production, expenses, and cash, the budget you would most likely examine is the:
7.The factors that must be considered in preparing a production budget are:
8.The direct materials budget is usually expressed in terms of:
9.If Blanchard Company plans to sell 1,000 calculators during the month of October, has 150 calculators on hand on October 1, and wants to maintain an inventory at month-end of 120 calculators, how any calculators must Blanchard Company produce during October?
10.What two things is a production manager responsible for controlling?
11.Which type of center is usually found at the highest levels in a firm?
12.Decentralization refers to the concept of having decision-making authority in the hands of:
13.A variance should be investigated when:
14.A materials quantity variance is favorable when:
15.Mossyrock Manufacturing Company established the standard labor rate as $11.20 and the standard hours as 200 labor hours. During June, 205 actual labor hours were incurred at a rate of $11.40 per hour. The labor rate variance is:
16.The type of responsibility center that is best measured by a segment-margin statement is a(n):
17.The variance computed by multiplying the difference between the expected quantity sold by the expected or standard price is the:
18.The type of responsibility center that would be measured by residual income is a(n):
19.Broomfield Company, which has total assets of $200,000, has an opportunity to invest $200,000 in a new project that will generate $32,000 in net income. Given this information, what is the return on this investment?
20.Variable manufacturing overhead includes which type of costs?
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(TCO 3) Managers are often required to make decisions about the future based