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York University
Administrative Studies
ADMS 2510
John Kucharczuk

Fall 2005 York University Atkinson Faculty of Liberal and Professional Studies School of Administrative Studies ADMS # 2510 Introduction to Management Accounting MID-TERM EXAMINATION # 2 Chapters 4, 5, 6 1 Hour SECTION C Thursday 7:00 – 10:00 pm Professor: Joe Nemi Marks CATEGORY A: Question # 1 10 Question # 2 10 CATEGORY B: Question # 3 20 40 === Please write on the FRONT pages of your EXAMINATION BOOKLET ONLY. Please ensure that you read the notes on the next page. 1 NOTES REGARDING TEST ADMINISTRATION: Read carefully, THINK about your approach, and Good Luck! Answers must be submitted in numerical order. (I.e. Your attempted clearly laid out solution to Question # 1 should be first, then follow with solutions to Question # 2, and # 3.) Examination Booklets are provided for your organized responses, THE TEST PAPER IS YOURS TO KEEP. IF YOU CANNOT FOLLOW THESE INSTRUCTIONS YOUR PROFESSOR WILL NOT GRADE YOUR PAPER. This midterm consists of 3 questions over 2 category types; i). Category A type: MULTIPLE CHOICE; Select th“best answer” for each of the followiunrelated multiple choice questions. For example, if (a) is the best answer for item (1), WRITE DOWN “ 1). a" in yourExamination Booklet . Failure to WRITE DOWN your answers as above in your Examination Booklet for whatever reason will result in a zero grade in the multiple choice section. If more than one answer is given for any question, that question will not be marked. Incorrect answers will be marked as zero. No account will be taken of any explanations you offer. ii). Category B type: A Comprehensive analytical and theoretical problem. 2 Question # 1: (1 Mark Each) 1). A normal cost system: a). Is more accurate than a standard cost system. b). Requires less information prior to production than an actual cost system. c). Allows the determination of product cost at an earlier time than does an actual cost system. d). Records norms in the accounting records against which actual costs can be compared. 2). A process costing system would most likely be found in which of the following businesses? a). A defense contractor that makes tanks, stun guns, and laser weapons as well as other commercial products. b). A soft-drink manufacturer that makes six types of colas. c). A software firm that designs programs for specific customer demands. d). An oil exploration firm. 3). In a department that uses process costing, equivalent units of production represent the: a). Units completed plus the units in ending work in process inventory. b). Units transferred out. c). Units remaining in work in process at the end of the period. d). Number of units that could have been completed if all work would have been used to produce whole units. 3 4). An operations flow document: a). Traces the quantity and cost of materials flowing through an operation. b). Specifies the tasks needed to make a product and the times allowed for each task. c). Flowcharts the shortest path by which to arrange machinery for completion of a product. d). Traces the network of control points from receipt of a customer's order to delivery of the product. 5). The traditional labour efficiency variance calculation motivates managers to: a). Ignore quality concerns by minimizing the time spent in production. b). Empower workers to learn to perform multiple tasks. c). Employ the most skilled workers so tasks can be performed in the least amount of time. d). All of the above are true. 6). A process map: a). Depicts the set of instructions by which customers make their post- delivery assembly of a product. b). Shows the process by which a product is created during product planning, preliminary design, and the detailed design phase. c). Presents a product’s flow through its distribution channel distribution. d). Indicates all steps taken in producing a product. 4 7). Which of the following is a non-value-added activity in a manufacturing company? a). Inspecting. b). Assembling. c). Fabricating. d). Polishing. 8). Activity drivers are used to: a). Accumulate costs in an activity centre. b). Allocate costs from an activity centre to the centre’s output. c). Predict the organization-level costs that should be assigned to administrative expenses. d). Measure the total long-term variable costs incurred in an organization. 9 ). Product variety refers to the number of: a). Features a particular product provides for customers. b). Components or processes included in a product. c). Different types of products produced or services rendered. d). Engineering change orders made on a product’s design since originally being placed into production. 10 ). Which of the following techniques is commonly used to assign costs to c
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