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Saylor BUS105 Exam Syllabus Topics:
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NEW QUESTION # 31
Managers have several different methods from which to choose when evaluating long-term investments. Which method disregards the time value of money as a factor?
- A. Internal rate of return
- B. Annuity tables
- C. Payback
- D. Net present value
Answer: C
NEW QUESTION # 32
Which of the following employees of ABC Corporation is most likely to receive the report regarding the internal audit committee's control findings?
- A. Managerial accountant
- B. Chief financial officer
- C. Plant manager
- D. Payroll clerk
Answer: B
NEW QUESTION # 33
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?
- A. Departmental
- B. Activity-based
- C. Plantwide
- D. Process
Answer: A
NEW QUESTION # 34
Cash collections and payments for purchases would be included in which of the following budgets as part of the overall master budget?
- A. Cash budget
- B. Manufacturing overhead budget
- C. Budgeted income statement
- D. Direct materials purchases budget
Answer: A
NEW QUESTION # 35
This is select financial statement data for Binks Corporation. What is the inventory turnover ratio for year 2?
- A. 2.3
- B. 4.7
- C. 7.2
- D. 4.4
Answer: B
NEW QUESTION # 36
Ladron Candies is analyzing sales and production data for the holiday boxes they produced last year. The company expected to use 0.10 direct labor hours to produce one box of specialty candy, and the variable overhead rate was $2.00 per hour. According to payroll records, the company paid for a total of 104,000 hours of direct labor wages. The actual variable overhead costs totaled $200,000. They sold 800,000 boxes of candy to retailers. What is the variable overhead efficiency variance?
- A. $8,000 favorable variable overhead efficiency variance
- B. $8,000 unfavorable variable overhead efficiency variance
- C. $48,000 unfavorable variable overhead efficiency variance
- D. $48,000 favorable variable overhead efficiency variance
Answer: C
NEW QUESTION # 37
Wycliff Corporation practices activity-based management at their manufacturing facility. Which of the following events would most likely be the result of a decision made using activity-based management theory?
- A. Plant managers assisted in calculating a plant-wide overhead rate
- B. The packaging department was moved closer to the shipping department
- C. Customer service representatives responded to vendor complaints
- D. Direct labor costs were assigned to work-in-process accounts
Answer: B
NEW QUESTION # 38
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?
- A. 14%
- B. 86%
- C. 74%
- D. 23%
Answer: A
NEW QUESTION # 39
What is the formula to calculate working capital?
- A. Current assets - Current liabilities
- B. Total assets - Current liabilities
- C. Total assets - Total liabilities
- D. Current assets + Current liabilities
Answer: A
NEW QUESTION # 40
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:
Total costs to be accounted for in the mixing department:
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?
- A. $14 per equivalent unit; $7,000 direct labor cost assigned to ending WIP inventory
- B. $101 per equivalent unit; $85,850 direct labor cost assigned to ending WIP inventory
- C. $101 per equivalent unit; $60,600 direct labor cost assigned to ending WIP inventory
- D. $14 per equivalent unit; $8,400 direct labor cost assigned to ending WIP inventory
Answer: A
NEW QUESTION # 41
You are the financial accountant for Antioch Ski Resort. Managers have been promised end-of-year bonuses if profits for the year increase by 10%. At the end of the year, you determine that profits increased by only 8%, and the managers ask you to "fudge the numbers a bit" so they can still receive their bonuses. What should you do?
- A. Consider inflating the profits for the year, since it is only a 2% difference
- B. Check whether the company has a policy on resolving ethical conflicts
- C. Report the managers to the CEO
- D. Resign from the company
Answer: B
NEW QUESTION # 42
Thompson Dental is deciding between two lease options for a new copier. They anticipate making 22,500 copies spread evenly over the course of the year. Which of the following options should they choose if they want to save the most money on an annual basis, and how much money will they save?
Option 1: Monthly lease: $225, Included copies: 1,500/month, Additional copies: $0.15 per copy Option 2: Monthly lease: $250, Included copies: 1,800/month, Additional copies: $0.02 per copy
- A. Option 1; $300 annual savings
- B. Option 2; $357 annual savings
- C. Option 1; $16 annual savings
- D. Option 2; $189 annual savings
Answer: B
NEW QUESTION # 43
Strang Tax provides tax consulting services to its clients whom they charge on an hourly basis. They would like to use differential analysis to determine whether profits would change if they dropped certain clients. Which of the following items should be excluded from this analysis?
- A. Rent expenses
- B. Wages payable
- C. Project management costs
- D. Consulting fees
Answer: A
NEW QUESTION # 44
This is the balance sheet for Swinney Services. Using trend analysis, what does this information tell us about the trends for current assets and current liabilities?
- A. Current assets increased at a rate nearly 4x higher than current liabilities
- B. Current assets increased at a rate nearly 10x higher than current liabilities
- C. Current assets increased at a rate nearly 6x higher than current liabilities
- D. Current assets increased at a rate nearly 2x higher than current liabilities
Answer: B
NEW QUESTION # 45
What is the balance in the manufacturing overhead account after these transactions were recorded, assuming the beginning balance was zero?
- A. $4,780
- B. $6,000
- C. $6,700
- D. $700
Answer: D
NEW QUESTION # 46
Which of the following might a capital budget decision consider?
- A. Minimum wage requirements
- B. Historical cash flows
- C. Customer satisfaction surveys
- D. Future cash inflows vs. future cash outflows
Answer: D
NEW QUESTION # 47
Myer Inc. achieved their goal of reducing their employee turnover rate by 15%. Which of the following perspectives of their balanced scorecard is most likely to include this measure?
- A. Learning and growth
- B. Financial performance
- C. Internal business process
- D. Customer satisfaction
Answer: A
NEW QUESTION # 48
The manager of Ladron Candies is deciding whether or not to invest in new equipment with a purchase price of $10,500 and a required rate of return of 7%. Given this calculation of the present value of cash inflows and outflows for the next three years, what should he decide, based on the internal rate of return?
- A. Accept the investment, because the internal rate of return is approximately 6% and results in a profit after three years.
- B. Reject the investment, because the internal rate of return cannot be determined with the information given.
- C. Accept the investment, because the internal rate of return is approximately 7%, which equals the required rate of return.
- D. Reject the investment, because the internal rate of return is approximately 7% and results in a loss after three years.
Answer: C
NEW QUESTION # 49
Archer Corporation manufactures coffee cups in the Midwest. Using this data, calculate the total current period manufacturing costs for the Schedule of Cost of Goods Manufactured for the year ending on December 31, 2021.
- A. $925,000
- B. $554,000
- C. $679,000
- D. $604,000
Answer: D
NEW QUESTION # 50
Which of the following activities would be included in the cash flows from the financing section of the statement of cash flows?
- A. Purchase of property and equipment
- B. Increase in accounts receivable
- C. Cash receipts from customers
- D. Cash dividends paid to noncontrolling interests
Answer: D
NEW QUESTION # 51
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