CMA（P1）——Performance

信息来源：金融范      2014-09-30 10:05     knroman

1、Lee manufacturing uses a standard cost system with overhead applied based on direct labor hours. The manufacturing budget for the production of 5,000 units for the month of June included 10,000 hours of direct labor at $15 per hour, $150,000. During June, 4,500 units were produced, using 9,600 direct labor hours, incurring $39,360 of variable overhead, and showing a variable overhead efficiency variance of $2,400 unfavorable. The standard variable overhead rate per direct labor hour was
A. $3.85.
B. $4.00.
C. $4.10.
D. $6.00.

2、MinnOil performs oil changes and other minor maintenance services (e.g., tire pressure checks) for cars. The company advertises that all services are completed within 15 minutes for each service. On a recent Saturday, 160 cars were serviced resulting in the following labor variances: rate, $19 unfavorable; efficiency, $14 favorable. If MinnOil’s standard labor rate is $7 per hour, determine the actual wage rate per hour and the actual hours worked.
 

3、The following information is from the accounting records of St. Charles Enterprises.
 

A staff assistant performed a comparison of budget and actual data, and calculated an unfavorable operating income variance of $65,750. The assistant concluded that performance did not meet expectations because there was an unfavorable variance in operating income. Which one of the following is the best evaluation of this preliminary conclusion?
A. Both the conclusion and the variance calculation are correct.
B. The conclusion is incorrect, but the variance calculation is informative.
C. The conclusion is correct, but the variance calculation could be more informative.
D. Both the conclusion and the variance calculation are incorrect.

4、For a given time period, a company had a favorable material quantity variance, a favorable direct labor efficiency variance, and a favorable fixed overhead volume variance. Of the following, the one factor that could not have caused all three variances is
A. the purchase of higher quality materials.
B. the use of lower-skilled workers.
C. the purchase of more efficient machinery.
D. an increase in production supervision.

5、 Marten Company has a cost-benefit policy to investigate any variance that is greater than $1,000 or 10% of budget, whichever is larger. Actual results for the previous month indicate the following.
 

The company should investigate
A. neither the material variance nor the labor variance.
B. the material variance only.
C. the labor variance only.
D. both the material variance and the labor variance.

6、 Brannen Videotronics uses a four-way allocation of overhead, machine hours to allocate overhead, and years of experience as the main determinant for wage increases. The standards are set and revised on an annual basis.
Due to a surge in competitive pressures, Brannen’s management decided to undertake downsizing. Brannen offered incentives that permitted a large number of senior employees to opt in the middle of the year for early retirement. As a result, Brannen had to bring in temporary replacements who were paid entry-level wages to see that work deadlines were met. Which one of the following is most likely to result from this situation?
A. Unfavorable efficiency variances and favorable price variances.
B. Unfavorable efficiency variances and unfavorable price variances.
C. Favorable efficiency variances and unfavorable price variances.
D. Favorable efficiency variances and favorable price variances.

7、Richter Company has an unfavorable materials efficiency (usage) variance for a particular month. Which one of the following is least likely to be the cause of this variance?
A. Inadequate training of the direct labor employees.
B. Poor performance of the shipping employees.
C. Poor design of the production process or product.
D. Poor quality of the raw materials.

8、Which one of the following best describes the performance elements contained in most balanced scorecards?
 

9、Which one of the following allocation approaches will ensure that the production departments do not underestimate their planned usage of service at the start of the budget period as well as make the service departments cost efficient?
A. The use of actual rates and actual hours for both fixed and variable costs.
B. Budgeted rates and standard hours allowed for output attained for variable costs and budgeted rates and capacity available for fixed costs.
C. The use of rates and quantities based on long-term historical averages for both variable and fixed costs.
D. The use of a budgeted lump-sum amount based on estimates provided by the production departments for both variable and fixed costs.

10、 Which one of the following is an incorrect description of transfer pricing?
A. It measures the value of goods or services furnished by a profit center to other responsibility centers within a company.
B. If a market price exists, this price may be used as a transfer price.
C. It measures exchanges between a company and external customers.
D. If no market price exists, the transfer price may be based on cost.

11、Manhattan Corporation has several divisions that operate as decentralized profit centers. At the present time, the Fabrication Division has excess capacity of 5,000 units with respect to the UT-371 circuit board, a popular item in many digital applications. Information about the circuit board follows.
 

Manhattan’s Electronic Assembly Division wants to purchase 4,500 circuit boards either internally, or else use a similar board in the marketplace that sells for $46. The Electronic Assembly Division’s management feels that if the first alternative is pursued, a price concession is justified, given that both divisions are part of the same firm. The best process to determine the price ultimately charged by the Fabrication Division to the Assembly Division for the circuit board is to
A. establish the price by top management.
B. establish the price by an arbitration committee.
C. establish the price through negotiations between the Fabrication’s and Electronic Assembly’s Division management.
D. set the price equal to the price that would be charged if the Fabrication Department had no excess capacity.

12、 Which one of the following should be used for evaluating the performance of the Repair and Maintenance Department that repairs production equipment in a firm devoted to making keyboards for computers?
A. The variance between the firm’s budgeted and actual net income.
B. The total factory overhead variances.
C. The fixed overhead volume variances.
D. The response time and degree of satisfaction among the production departments.

13、 Albert Hathaway recently joined Brannen University as the chief information officer of the University Computing Services Department. His assigned task is to help reduce the recurrent problem of cost overruns due to uncontrolled computer usage by the user community, while at the same time not curtailing the use of information technology for research and teaching. To ensure goal congruence, which one of the following algorithms should be used to allocate the cost of the University Computing Services Department to other departments within the university?
A. Actual rate times actual hours of computer usage.
B. Actual rate times budgeted hours of computer usage.
C. Budgeted rate times actual hours of computer usage.
D. Budgeted rate times budgeted hours of computer usage.

14、For several years, Northern Division of Marino Company has maintained a positive residual income. Northern is currently considering investing in a new project that will lower the division’s overall return on investment (ROI) but increase its residual income. What is the relationship between the expected rate of return on the new project, the firm’s cost of capital, and the division’s current ROI?
A. The expected rate of return on the new project is higher than the division’s current return on investment, but lower than the firm’s cost of capital.
B. The firm’s cost of capital is higher than the expected rate of return on the new project, but lower than the division’s current return on investment.
C. The division’s current return on investment is higher than the expected rate of return on the new project, but lower than the firm’s cost of capital.
D. The expected rate of return on the new project is higher than the firm’s cost of capital, but lower than the division’s current return on investment.

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