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Guide for BUS105: Saylor Managerial Accounting

Quiz BUS105: Saylor Managerial Accounting

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/ 10

Quiz

1/10
Wycliff Corporation manufactures several different styles of bicycles. Managers appropriately record
direct materials and direct labor into work-in-process accounts during production. To apply
manufacturing overhead, managers consider cost pools for assembly and shipping to calculate a
predetermined overhead rate for each department. Which of the following best describes the
method used by Wycliff Corporation for allocating manufacturing overhead costs?
Select the answer
1 correct answer
A.
Activity-based
B.
Departmental
C.
Plantwide
D.
Process

Quiz

2/10
Cash collections and payments for purchases would be included in which of the following budgets as
part of the overall master budget?
Select the answer
1 correct answer
A.
Cash budget
B.
Budgeted income statement
C.
Manufacturing overhead budget
D.
Direct materials purchases budget

Quiz

3/10
This is select financial statement data for the three divisions of Technology Goods, Inc. Assuming all
assets are operating assets, what is the return on investment for each division?
Certification Exam BUS105: Saylor Managerial Accounting Saylor Saylor-BUS105 1-3687893217
Select the answer
1 correct answer
A.
17.8%, 10.0%, 15.9%
B.
33.1%, 31.3%, 31.2%
C.
53.0%, 32.0%, 50.9%
D.
82.2%, 39.0%, 66.0%

Quiz

4/10
These tables pertain to the blending department of Martinez Corporation, a paint manufacturer, for
the month of August.


Units accounted for in the mixing department:

Certification Exam BUS105: Saylor Managerial Accounting Saylor Saylor-BUS105 2-3591111972



Total costs to be accounted for in the mixing department:

Certification Exam BUS105: Saylor Managerial Accounting Saylor Saylor-BUS105 3-1719929311

What is the cost per equivalent unit for direct labor, and what is the cost of direct labor to be
assigned to ending work in process inventory?
Select the answer
1 correct answer
A.
$14 per equivalent unit; $7,000 direct labor cost assigned to ending WIP inventory
B.
$14 per equivalent unit; $8,400 direct labor cost assigned to ending WIP inventory
C.
$101 per equivalent unit; $60,600 direct labor cost assigned to ending WIP inventory
D.
$101 per equivalent unit; $85,850 direct labor cost assigned to ending WIP inventory

Quiz

5/10
Cost behavior patterns tend to be reliable within which of the following?
Select the answer
1 correct answer
A.
Free cash flow
B.
A relevant range
C.
The current ratio
D.
A contribution margin

Quiz

6/10
A potential lender is investigating Wyatt Corporation's leverage. This is select balance sheet data for


Wyatt Corporation as of December 31. What is the company's debt to assets ratio?

Certification Exam BUS105: Saylor Managerial Accounting Saylor Saylor-BUS105 4-3321919016
Select the answer
1 correct answer
A.
14%
B.
23%
C.
74%
D.
86%

Quiz

7/10
Wycliff Corporation manufactured Job #3 during the month of May. On May 29, 100% of the product
was finished and sold on account for $150. These journal entries were recorded during production:
Certification Exam BUS105: Saylor Managerial Accounting Saylor Saylor-BUS105 5-683939369

On May 31, Wycliff determined that the amount remaining in the manufacturing overhead account
was immaterial and closed it out. What was the amount of gross profit before closing the
manufacturing account, and what effect did closing the manufacturing account have on gross profit?
Select the answer
1 correct answer
A.
Gross profit was $44; gross profit decreased by $1.00 after closing manufacturing overhead.
B.
Gross profit was $44; gross profit increased by $1.00 after closing manufacturing overhead.
C.
Gross profit was $75; gross profit decreased by $1.00 after closing manufacturing overhead.
D.
Gross profit was $75; gross profit increased by $1.00 after closing manufacturing overhead.

Quiz

8/10
Ladron Candies uses activity-based costing to allocate variable factory overhead costs. Which of the
following statements best represents the excerpted activity data for indirect materials?


Indirect Materials:

Certification Exam BUS105: Saylor Managerial Accounting Saylor Saylor-BUS105 6-3011584817
Select the answer
1 correct answer
A.
There is a $500 favorable spending variance
B.
There is a $1,000 favorable spending variance
C.
There is a $500 unfavorable efficiency variance
D.
There is a $1,000 unfavorable efficiency variance

Quiz

9/10
This is select financial statement data for Binks Corporation. What is the inventory turnover ratio for
year 2?
Certification Exam BUS105: Saylor Managerial Accounting Saylor Saylor-BUS105 9-1249200888
Select the answer
1 correct answer
A.
2.3
B.
4.4
C.
4.7
D.
7.2

Quiz

10/10
Valley Manufacturing uses a process costing system. Which of the following journal entries would
correctly record $3,180 of manufacturing overhead to the assembly department?
Select the answer
1 correct answer
A.
Certification Exam BUS105: Saylor Managerial Accounting Saylor Saylor-BUS105 7-954432879
B.
Certification Exam BUS105: Saylor Managerial Accounting Saylor Saylor-BUS105 8-401424157
C.
Certification Exam BUS105: Saylor Managerial Accounting Saylor Saylor-BUS105 10-2176209301
D.
Certification Exam BUS105: Saylor Managerial Accounting Saylor Saylor-BUS105 11-261039222
A. Option A
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  • Quiz name:BUS105: Saylor Managerial Accounting
  • Total number of questions:50
  • Number of questions for the test:50
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