Questions and Answers of Managerial Accounting 12th

Medallion Star Corporation prepares its statement of cash flows using the indirect method. Which of the following items would be deducted from net income when calculating the net cash from
The 2023 and 2022 balance sheets of Rabb Corporation follow. The 2023 income statement is also provided. Rabb had no noncash investing and financing transactions during 2023. During the year, the
Marshall Sign Company, Inc., has the following comparative balance sheet as of March 31, 2023.Selected transaction data for the year ended March 31, 2023, include the following:Requirements1. Prepare
Prepare a statement of cash flows using the indirect method. The income statement for 2023 and the balance sheets for 2023 and 2022 are presented for Harding Industries, Inc.Additional information
The comparative balance sheet for Coastal Travel Services, Inc., for December 31, 2023 and 2022, is as follows:The following information is taken from the records of Coastal Travel Services, Inc.:a.
The comparative balance sheet for Seaway Travel Services, Inc., for December 31, 2023 and 2022, is as follows:The following information is taken from the records of Seaway Travel Services, Inc.:a.
Prepare the statement of cash flows using the indirect method. The income statement for 2023 and the balance sheets for 2023 and 2022 are presented for Hall Industries.Additional information
The 2023 and 2022 balance sheets of Gibson Corporation follow. The 2023 income statement is also provided. Gibson had no noncash investing and financing transactions during 2023. During the year, the
Lagoon Marine Company makes a variety of boating supplies. The controller is preparing its statement of cash flows for the most recent calendar year. A sample of the pivot table the controller
The Longbow-Miller Company uses the indirect method to prepare its statement of cash flows. When calculating the net cash provided (used) by operations, which of the following items would be deducted
Robbins Company uses the indirect method to prepare its statement of cash flows. If the “net cash provided by operations” on its statement was $55,000, what would the net cash provided by
Indicate which type of analytics, predictive or prescriptive, is most likely being described by each of the following independent statements.1. Provides insights on how to deal with expected cash
What type of analytics answers the question “What action should be taken?”a. Descriptiveb. Diagnosticc. Predictived. Prescriptive
What does a slicer do when used in a pivot table in Excel?a. The slicer will filter results that are shown in the pivot table based on user choice.b. The slicer will remove results from the data.c.
Graphic Company, Inc., has the following comparative balance sheet as of March 31, 2023.Selected transaction data for the year ended March 31, 2023, include the following:a. Net income, $76,800b.
Compute six ratios that measure Spenser Corporation’s ability to earn profits. The company’s comparative income statement follows. The data for 2021 are given as needed. Did the company’s
Compute six ratios that measure Tomloff Corporation’s ability to earn profits. The company’s comparative income statement follows. The data for 2021 are given as needed.Did the company’s
McKay Frames has asked you to determine whether the company’s ability to pay current liabilities and total liabilities improved or deteriorated during 2023. To answer that question, compute these
This case is a continuation of the Burburr Resorts & Hotels Corporation serial case that began in Chapter 1. The components of the Burburr serial case can be completed in any order. Burburr
Compute the dollar amount of change and the percentage of change in Gambol News Group’s working capital each year during 2022 and 2023. Is this trend favorable or unfavorable? Total current
Compute trend percentages for Elsie Snyder Realtors’ net revenue and net income for the following five-year period, using 2019 as the base year.Which grew faster during the period, net revenue or
Compute trend percentages for Barb Sayre Realtors’ net revenue and net income for the following five-year period, using 2019 as the base year.Which grew faster during the period, net revenue or net
Prepare a comparative common-size income statement for Wolf Corporation. To an investor, how does 2023 compare with 2022? Explain your reasoning. dodaj 12345 Wolf Corporation Income Statement 6 Sales
Compute the dollar amount of change and the percentage of change in Crocker News Group’s working capital each year during 2022 and 2023. Is this trend favorable or unfavorable? Total current
Using a base year as 100% and expressing other years as a percentage of the base year is an example ofa. Comparison analysis.b. Benchmarking.c. Trend analysis.d. Vertical analysis.
In its 2023/2024 Sustainable Business Report and its annual report, Green Footwear, Inc., describes several sustainability goals and commitments it has made. In the following list, categorize each
This case is a continuation of the Burburr Resorts & Hotels Corporation serial case that began in Chapter 1. The components of the Burburr serial case can be completed in any order. Burburr
The comparison of sales over a five-year period would be an example of analysis.a. Profitabilityb. Horizontalc. Verticald. Capital
In vertical analysis, the base used for comparison on the balance sheet isa. Total stockholders’ equity.b. Total liabilities.c. Net sales.d. Total assets.
Comparing the horizontal analysis of Macy’s financial statements to the horizontal analysis of Dillard’s financial statements in percentages of increase or decrease from 2023 to 2024 would bea.
For each of the following data needs, specify whether a static data connection or live data connection would be most appropriate.a. Population demographics from 2010b. Dividends paid in 2020c.
Which of the following data needs would most likely be best served by a live data connection?a. Stock price on July 3, 1991b. Population demographics from 2010c. Current P/E ratiod. Total assets as
Which of the following items is an advantage of using Excel sparklines?a. Sparklines can be formatted as line charts, column charts, or win/loss charts.b. Sparklines don’t take up much room in the
Porterville Steel Parts produces parts for the automobile industry. The company has monthly fixed expenses of $750,000 and a contribution margin of 75% of revenues.Requirements1. Compute Porterville
Mariah DeLozier sells homemade knit scarves for $15 each at local craft shows. Her contribution margin ratio is 60%. Currently, the craft show entrance fees cost Mariah $900 per year. The craft shows
Raven Spahr is evaluating a business opportunity to sell premium car wax at vintage car shows. The wax is sold in 64-ounce tubs. Raven can buy the premium wax at a wholesale cost of $32 per tub. She
This case is a continuation of the Burburr Resorts & Hotels Corporation serial case that began in Chapter 1. The components of the Burburr serial case can be completed in any order. Burburr
When making decisions, managers should considera. Revenues that differ between alternatives.b. Sunk costs.c. Only variable costs.d. Costs that do not differ between alternatives.
When pricing a product, managers must consider which of the following costs?a. All costsb. Only variable costsc. Only period costsd. Only manufacturing costs
Which of the following costs is relevant to Paper Mart’s decision to accept a special order at a lower sales price from a large customer?a. The cost of shipping the order to the customerb. Paper
Kent Embroidery Company has received a special sales order from Mahoney County for a large order. The incremental fixed costs that will be incurred to create a new pattern that can only be used for
When deciding whether to drop its CD label line, Avery Products Corporation would considera. The revenues it would lose from dropping the product line.b. How dropping the CD label product line would
Common fixed costs that are allocated among departments are generallya. Relevant to the decision of whether to discontinue the department.b. Direct fixed costs of other departments.c. Irrelevant to
To maximize its total contribution margin when it has a limited supply of the mineral nickel, Tesla, Inc., should focus on producing the car model that has the highesta. Profit per unit of product.b.
When making outsourcing decisionsa. Expected use of the freed capacity is irrelevant.b. Avoidable fixed costs are irrelevant.c. The manufacturing full unit cost of making the product in house is
Calculating sales totals for each of the company’s product lines would be an example ofa. Predictive analytics.b. Diagnostic analytics.c. Descriptive analytics.d. Adaptive and autonomous analytics.
What does the V in Excel’s VLOOKUP function stand for?a. Variableb. Verticalc. Volumed. Velocity
Budget committees would include all of the following people except aa. Chief financial officer.b. Product manager.c. Human resources manager.d. Shareholder.
Budgets area. Required by U.S. Generally Accepted Accounting Principles (GAAP).b. Future oriented.c. Only used by large corporations.d. Prepared by the controller for the entire organization.
In each of the following scenarios, indicate which type of forecasting model, qualitative or quantitative, would likely be most suitable and feasible for the situation.1. Highton Department Stores is
Which is one of the potential disadvantages of decentralization?a. Decreases customer relationsb. Struggle to achieve goal congruencec. Reduces motivation and job retentiond. Does not value the use
Johnson & Johnson’s Consumer Healthcare Division that manufactures and sells products including Band-Aid, Neutrogena, and Listerine is most likely treated as a(n)a. Cost center.b. Revenue
Decentralization would typically not be based ona. Customer base.b. Geographic line.c. Total revenues.d. Product line.
What will happen to return on investment (ROI) if total assets decrease while everything else remains the same?a. ROI will decrease over time.b. ROI will not be affected by the decrease in total
Which of the following is a disadvantage of financial performance measures such as return on investment (ROI) and residual income?a. Not readily understood by managersb. Focus on short-term
Which performance measurement tool is most likely to cause goal incongruence between division managers and the corporate headquarters?a. Return on investment (ROI)b. Residual incomec. Balanced
What strategies might be used to determine a transfer price?a. Costb. Market pricec. Negotiated priced. All of the above
The Ford Motor Company operates three segments (Ford refers to its segments as “sectors”). Using the company’s website, locate sector information for 2020 in the company’s 2020 annual report.
For each of the following situations, indicate which type of chart would be most appropriate (line chart, column chart, bar chart, or scatter plot.)1. A manager thinks that marketing dollars spent is
The controller wants to prepare a chart of monthly operating income from the past two years. What chart would likely be most appropriate?a. Line chartb. Bar chartc. Scatter plotd. Pie chart
Hosbach Corporation expects no waste and no inefficiencies in the production process. This type of standard is referred to as a(n)a. Realistic standard.b. Practical standard.c. Ideal standard.d.
On March 31, the purchasing manager at Reynold Plastics purchased a greater quantity of raw materials than budgeted and paid the standard price for the raw materials. Which variance is directly
Mitchell Bakery uses butter in producing its pies. If the price of butter doubles, which variance is directly impacted?a. Direct materials price varianceb. Direct materials quantity variancec. Direct
A company receives an unusually high number of orders. To complete all the orders on time, the company pays employees an extra $10 per hour for every hour of overtime the employees work. Which of the
The unemployment rate has increased over the past year. Allison Company finds that it is able to pay new employees a lower wage per hour than when the unemployment rate was lower a year ago. Which of
At lean companies, employees tend to be multiskilled and cross-trained to perform a variety of tasks. These workers are valued by management and are considered to be part of the team rather than a
The recommendations in the “Similar items you may like” section that displays when you look at an item on the Walmart website most likely are derived by analysis.a. Fraud detectionb. Clusteringc.
What feature in Excel will automatically color cells based on each cell’s value?a. Fill Colorb. AutoSumc. Format as Tabled. Conditional Formatting
After a company has made an investment in a capital asset, what will it conduct to compare the actual net cash inflows to the projected net cash inflows?a. Internal cash auditb. Post-auditc.
Examples of capital budgeting investments include all of the following excepta. Paying bonuses to the sales force.b. Customizing a fleet of new delivery vehicles.c. Installing a new computer
A retailer is considering whether to invest in a warehouse routing system that costs $1,200,000, has a $100,000 residual value, and should lead to cost savings of $275,000 per year for its five-year
This case is a continuation of the Burburr Resorts & Hotels Corporation serial case that began in Chapter 1. The components of the Burburr serial case can be completed in any order. Burburr
When a company is operating at its breakeven pointa. Its fixed expenses will be equal to its variable expenses.b. Its total revenues will be equal to its total expenses.c. Its selling price will be
Total contribution margin less total fixed expenses equalsa. Gross profit.b. Sales revenue.c. Contribution margin ratio.d. Operating income.
If the sales price of a product increases while everything else remains the same, what happens to the breakeven point?a. The breakeven point will increase.b. The breakeven point will decrease.c. The
Target profit analysis is used to calculate the sales volume that is needed toa. Cover all fixed expenses.b. Cover all expenses.c. To avoid a loss.d. Earn a specific amount of net operating income.
The process of experimenting with base case, best case, and worst case scenarios to see what would happen to company profits under those conditions would be an example ofa. Sequencing analysis.b.
Bricker Frames has asked you to determine whether the company’s ability to pay current liabilities and total liabilities improved or deteriorated during 2023. To answer this question, compute these
In its 2023/2024 Sustainable Business Report and its annual report, Green Athletics Inc., describes several sustainability goals and commitments it has made. In the following list, categorize each
Shareholders, special interest groups, employees, customers, bankers, suppliers, policy makers, and community members can all be considered to bea. Constraints.b. Regulators.c. Stakeholders.d. None
Which of the following is a reason an organization would pursue sustainability initiatives?a. To improve competitive positionb. To reduce costsc. To satisfy shareholder demandsd. All of the above
Extended producer responsibility (EPR) laws that require manufacturers to take back a large percentage of their products at the end of the products’ life is an example of which type of reason to
When a large hotel chain integrated sustainability practices within one of its floors at one of its hotels, it experienced significantly reduced costs related to laundry, housekeeping, and personal
Which of the following factors is not part of the triple bottom line?a. Peopleb. Profitc. Productivityd. Planet
Which of the following organizations is working to develop and/or improve sustainability reporting?a. GRIb. IMAc. FASBd. AICPA
The topic of child labor would address sustainability by which of the GRI standpoints?a. Economicb. Environmentalc. Sociald. Financial
The topic of energy would address sustainability by which of the GRI standpoints?a. Economicb. Environmentalc. Sociald. Financial
Which of the following tools can be used to help justify investments in sustainability?a. Social return on investment (SROI)b. Life-cycle assessment (LCA)c. Investment appraisals that include
Which of the following is a reason that managers in an organization would use dashboards?a. Insights can be gained through charts and other visuals.b. Teams can be focused on the same goals as
What are the steps needed to create a column chart in Excel?a. Select the data, click on Insert in the ribbon, select Column Chart, and then customize the chart title.b. Right-click the first cell in
Sebastian Wilmer operates Wilmer’s Cricket Farm in Fairview, Georgia. Wilmer’s raises about 18 million crickets a month. Most are sold to pet stores at $10.26 for a box of 1,000 crickets. Pet
The Gertz Gummy Bear Company manufactures a variety of gummy bear candies. The gummy bears are available in the following packages: a 6-ounce bag, a 1.6-pound bag, a 5-pound bag, and a 4.5-pound
Old Salty’s Pretzels sells its gourmet pretzels to grocery stores throughout the United States. An excerpt from a data set of sales transactions from the past year is displayed below.For each of
The accounting manager is gathering data to form a cost allocation pool and cost allocation rate for materials handling costs at the Markleton Company, which makes outdoor furniture and signage from
Jamillah Miracle has her own chain of music stores, Miracle Music. Her stores sell musical instruments, sheet music, and other related items. Music lessons and instrument repair are also offered
In a data set containing order number, city, customer, product, quantity sold, and gross profit, a pivot table would be an appropriate tool to answer which of the following questions?a. What is the
In general, transferred-in costs include costs incurred when?a. In the current periodb. In all prior periodsc. In only the previous periodd. In all prior processes
Which of the following is a step in the data cleaning process?a. Remove irrelevant data.b. Filter out data outliers.c. Standardize data.d. All the listed choices are correct.
Which of the following companies would most likely use process costing?a. Accenture, a management consulting firmb. Pace Foods, producer of Pace Chunky Salsac. Kobe Digital, a digital marketing
Which of the following companies would most likely use job costing?a. A dairy farmb. An oil refineryc. A paint manufacturerd. A hospital

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