managerial Accounting

For each multiple-choice question there is only one correct answer. Select the answer you believe to be most correct. Each multiple-choice question is worth 2 points for a total of 18 points on the exam. The exam is worth 150 points in total. 1. Which of the following does not lead to a direct labor efficiency variance? a. Lack of training for newly hired manufacturing employees. b. 'Unexpected changes in the price of materials. C. Poor scheduling of jobs. d. Equipment breakdowns. 2. The receivables turnover ratio is a measure of: a. Leverage b. Sales performance C. Profitability d. Liquidity 3. Which costing system is required by GAAP? a. Variable costing b. Full costing C . Fixed costing d. Dual costing 4. Which one of the following is a productivity measure that focuses on the relationship between only one of the inputs and the output attained? a. Total productivity b. Operational productivity C. Financial productivity d. Partial productivity 5. Operational control focuses on: a. Higher-level managers and long-term, strategic issues. b. Detailed short-term performance measures. C. Costs incurred during operations. d. The control system around finished products