Management Accounting in the Asia-Pacific Region Exam Review
Course Introduction
This course explores the principles and practices of management accounting as applied within the diverse economic, cultural, and regulatory environments of the Asia-Pacific region. Students will examine topics such as budgeting, performance measurement, cost management, and decision-making techniques, with a focus on how regional factors influence accounting strategies and managerial control systems. Case studies and real-world examples from various Asia-Pacific countries will illustrate the challenges and opportunities faced by organizations operating in this dynamic part of the world, fostering a comparative understanding of management accounting practices across different national contexts.
Recommended Textbook
ACCT Managerial Asia Pacific Edition 1st Edition by Prabhu Sivabalan
Available Study Resources on Quizplus
15 Chapters
1304 Verified Questions
1304 Flashcards
Source URL: https://quizplus.com/study-set/3287 Page 2
Chapter 1: Introduction to Managerial Accounting
Available Study Resources on Quizplus for this Chatper
51 Verified Questions
51 Flashcards
Source URL: https://quizplus.com/quiz/65270
Sample Questions
Q1) Which manager activity would address the decision on whether or not to accept a special order within the next few days?
A) Sales activity
B) Strategic planning activity
C) Operating activity
D) Controlling activity
Answer: C
Q2) Relevant costs are costs that:
A) do not differ between alternatives.
B) differ between alternatives.
C) have already been incurred.
D) may not be eliminated by choosing one alternative over another.
Answer: B
Q3) An example of qualitative data is:
A) product cost.
B) customer satisfaction.
C) net income.
D) operating costs.
Answer: B
To view all questions and flashcards with answers, click on the resource link above.
Page 3
Chapter 2: Product Costing: Manufacturing Processes, cost
Terminology and Cost Flows
Available Study Resources on Quizplus for this Chatper
84 Verified Questions
84 Flashcards
Source URL: https://quizplus.com/quiz/65263
Sample Questions
Q1) What is net income for 2009? (ignore taxes)
A) $1 920 000
B) $2 025 000
C) $1 890 000
D) $2 045 000
Answer: A
Q2) Which of the following is not an example of a manufacturing overhead cost?
A) Shipping charges on finished products
B) Indirect materials
C) Indirect labour
D) Depreciation on factory equipment
Answer: A
Q3) Lean production is focused on eliminating waste associated with all of the following except:
A) moving products farther than required.
B) down time caused by people waiting for work to do.
C) providing excessive customer service.
D) over-processing a product.
Answer: C
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Cost Behaviour
Available Study Resources on Quizplus for this Chatper
106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/65262
Sample Questions
Q1) Bixby Inc.expects total costs to be $2500 when 80 units are sold and the variable cost is $10 per unit.Bixby expects to sell 90 units in July.What will be expected total costs in July?
A) $3400.00
B) $2600.00
C) $2812.50
D) $4200.00
Answer: B
Q2) Which of the following statements is true regarding regression analysis?
A) It is often less accurate than the high/low method.
B) It is a better predictor of fixed costs than variable costs.
C) It can not be used to predict the effect that a change in volume of production has on net income.
D) It uses statistical methods to fit a cost line through a number of data points.
Answer: D
To view all questions and flashcards with answers, click on the resource link above.
5
Chapter 4: Job Costing and Overhead Costing Systems
Available Study Resources on Quizplus for this Chatper
60 Verified Questions
60 Flashcards
Source URL: https://quizplus.com/quiz/65261
Sample Questions
Q1) Which of the following types of costs would be classified as a product cost in a job order costing system? Check those that apply.
\[\begin{array} { l l l }
\text { indirect materials } &\underline{\quad\quad\quad\quad}& \text { direct materials }&\underline{\quad\quad\quad\quad} \\
\text { administrative coerhead } &\underline{\quad\quad\quad\quad}& \text { manufacturing overhead }&\underline{\quad\quad\quad\quad} \\
\text { direct labour } &\underline{\quad\quad\quad\quad}& \text { advertising costs }&\underline{\quad\quad\quad\quad} \\
\text { indirect labour } &\underline{\quad\quad\quad\quad}& \text { sales commissions }&\underline{\quad\quad\quad\quad} \end{array}\]
Q2) The predetermined overhead rate for the month of June is:
A) $ 0.125 per direct labour dollar
B) $12.50 per direct labour dollar
C) $ 1.50 per direct labour dollar
D) $ 8.00 per direct labour dollar
Q3) Explain the term 'cost driver' and give several examples.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 5: Process Costing Systems
Available Study Resources on Quizplus for this Chatper
60 Verified Questions
60 Flashcards
Source URL: https://quizplus.com/quiz/65260
Sample Questions
Q1) What are the total equivalent units worked on this period?
A) 9800
B) 10 200
C) 11 000
D) 9500
Q2) Hudson Manufacturing uses process costing.The following information was available for the current year: \[\begin{array} { l r r }
\text { Number of units in bepinnine wark-in-pracess inventary } & 5000 & \text { (20\% complete) } \\
\text { Number of urits started in the curent period } & \text { 60 000 } & \\
\text { Number of units in endine wark-in-process inventary } & 8000 & \text { (60\% complete) }
\end{array}\]
Required:
A. If Hudson uses the first-in, first-dut (FIFO) method, calculate tatal equivalent units far the year.
B. If Hudson uses the weighted-average method calculate total equivalent units for the year.
To view all questions and flashcards with answers, click on the resource link above.
Page 7
Chapter 6: Service and Operations Costing
Available Study Resources on Quizplus for this Chatper
60 Verified Questions
60 Flashcards
Source URL: https://quizplus.com/quiz/65259
Sample Questions
Q1) Audrey Cleaners is a large cleaning business.They use operations costing to measure and track the costs incurred for specific product lines.While most of the products do require some machine time,managers have determined that total labour hours drive its manufacturing overhead costs.Traditionally,indirect labour hours are one fifth of total direct labour hours.During the month of June,the following data is provided for the time worked on a large job: Direct labaur\(\quad \) \(\quad \)3000 hours at \(\$ 10\) per hour If total overhead costs during the month was $16 000 when a total of 20 000 total labour hours were worked,what is the overhead allocated to the large job?
A) $3600
B) $3000
C) $2880
D) $2560
Q2) Which of the following costs is most likely not applicable in a service costing environment?
A) Rent
B) Direct materials
C) Utilities expenses
D) Direct labour
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Departmental Overhead Costing
Available Study Resources on Quizplus for this Chatper
61 Verified Questions
61 Flashcards
Source URL: https://quizplus.com/quiz/65258
Sample Questions
Q1) Maximilian Cinemas has three departments.Of these,Department E occupies 55 machine hours of time per day while Department F occupies 25 machine hours per day.Department G occupies 20 machine hours.If overhead costs are allocated on the basis of machine hours,how much in overhead should be allocated to Department G if overheads are $10 500 per week?
A) $300
B) $100
C) $400
D) $600
Q2) Assuming that Motlop Manufacturing Company uses the direct method of allocating service costs,the amount of service department 1 costs allocated to producing 1 would be: (If necessary,round your answer to the nearest whole number. )
A) $5250
B) $3000
C) $4800
D) $3333
Q3) When might the plantwide overhead rate be equally effective as departmental overhead rates?
Q4) How are departmental overhead rates superior to plantwide overhead rates?
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Activity-Based Costing
Available Study Resources on Quizplus for this Chatper
78 Verified Questions
78 Flashcards
Source URL: https://quizplus.com/quiz/65257
Sample Questions
Q1) Which of the following statements is true regarding activities?
A) An activity that drives overhead costs should only take place within the physical manufacturing facility.
B) Activities can be consumed by resources.
C) Overhead costs can be traced to more than one activity.
D) Activities seldom cause work to be accomplished.
Q2) Which of the following is not a benefit of activity-based costing (ABC)?
A) Increased product cost information
B) Increased accuracy in the budgeting process
C) Increased implementation costs
D) Increased understanding of activities that drive overhead costs
Q3) Herndon Brothers Inc.produces a variety of 'all natural' household cleaning supplies that it manufactures and distributes to various grocery stores along the west coast.Which of the following types of costs would most likely be a product-level cost?
A) A package product design cost
B) A machine setup cost
C) Depreciation on the factory building
D) Utility costs for factory machinery
Q4) What are the benefits and limitations of activity-based costing (ABC)systems?
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Cost-Volume-Profit Analysis
Available Study Resources on Quizplus for this Chatper
117 Verified Questions
117 Flashcards
Source URL: https://quizplus.com/quiz/65256
Sample Questions
Q1) If Joe's sells 500 more cups of coffee per month,net income will:
A) increase by $850.
B) increase by $100.
C) increase by $150.
D) increase by $1500.
Q2) In a multiproduct environment,what are the four assumptions used in CVP analysis? a. b. c.
Q3) Floyd's Barbershop has fixed costs of $3000 per month.Floyd currently breaks even when it performs 400 haircuts a month.Floyd charges customers $10 per cut.What are Floyd's variable costs per cut?
A) $ 2.50
B) $ 7.50
C) $17.50
D) $ 1.33
Q4) What does operating leverage reveal about a company?
Q5) How is contribution margin ratio computed?
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Relevant Costs and Product Planning Decisions
Available Study Resources on Quizplus for this Chatper
75 Verified Questions
75 Flashcards
Source URL: https://quizplus.com/quiz/65269
Sample Questions
Q1) What are the relevant costs per unit of Henderson manufacturing the motors themselves?
A) $16.80
B) $15.20
C) $20.00
D) $12.00
Q2) If demand were strong for both sets and the company could sell an unlimited number of either style,what is the maximum total contribution margin the company could have?
A) $ 875 000
B) $ 281 250
C) $1 125 000
D) $1 750 000
Q3) Which of the following statements regarding resource utilisation is not true?
A) Resource utilisation decisions are usually short-term in nature.
B) Resource utilisation decisions require the identification of a constraint.
C) Resource utilisation decisions require an analysis of which fixed costs are unavoidable.
D) Resource utilisation decisions require managers to compute a product's contribution margin.
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Long-Term Capital Investmentdecisions
Available Study Resources on Quizplus for this Chatper
97 Verified Questions
97 Flashcards
Source URL: https://quizplus.com/quiz/65268
Sample Questions
Q1) Finch Corporation purchased an asset costing $10 000.Annual operating cash inflows generated from the asset are expected to be $1610 each year for eight years.No salvage value is expected at the end of the asset's life.Using time value of money tables,which of the following rates is closest to the internal rate of return on the project?
A) 8 per cent
B) 6 per cent
C) 10 per cent
D) 16 per cent
Q2) The time value of money concept focuses on:
A) revenues.
B) expenses.
C) cash flows.
D) net income.
Q3) If an investment's net present value is positive,then:
A) the investment provides a return greater than the discount rate.
B) the investment provides a return less than the discount rate.
C) the present value of the cash outflows must have been greater than the present value of the cash inflows.
D) the investment should be deemed as unacceptable.
To view all questions and flashcards with answers, click on the resource link above.
Page 13
Chapter 12: Fixed and Rolling Budgets for Planning and Decision Making
Available Study Resources on Quizplus for this Chatper
115 Verified Questions
115 Flashcards
Source URL: https://quizplus.com/quiz/65267
Sample Questions
Q1) The total required production of water fountains for the first quarter of 2009 is:
A) 4320 units
B) 4560 units
C) 4640 units
D) 4480 units
Q2) In 2008,Wingen Inc.sold 650 000 units at $3 each.Sales volume is expected to increase by 20 per cent in 2009 while the price of each unit is expected to decrease by 20 per cent.The expected sales revenue for 2009 is:
A) $ 780 000
B) $1 872 000
C) $1 950 000
D) $1 560 000
Q3) Which of the following budgets is often more of a focus for a service company than a manufacturing company?
A) Sales budget
B) Direct materials budget
C) Labour budget
D) Cash receipts budget
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Management Accounting for Cost Control and Performance Evaluation Flexible
Budgets and Variance Analysis
Available Study Resources on Quizplus for this Chatper
108 Verified Questions
108 Flashcards
Source URL: https://quizplus.com/quiz/65266
Sample Questions
Q1) What is 'task analysis' and how is it used in the context of variance analysis?
Q2) What is Mary's flexible budget variance?
A) $14 475 F
B) $28 950 U
C) $42 267 F
D) $13 317 U
Q3) Carlton's direct labour efficiency variance is:
A) $ 562.50 F
B) $2 137.50 U
C) $1 187.50 U
D) $2 025.00 F
Q4) The direct materials price variance for 2009 was:
A) $2040 F
B) $2040 U
C) $1650 F
D) $1650 U
Q6) Harkin Ltd.has a $5000 unfavourable variable overhead spending variance.Give two Page 15
Q5) What is the difference between a static and a flexible budget? Which one is most often used in variance analysis and why?
possible reasons for this variance.
To view all questions and flashcards with answers, click on the resource link above. Page 16
Chapter 14: Decentralisation and Modern Performance
Management Systems the Balanced Scorecard
Available Study Resources on Quizplus for this Chatper
168 Verified Questions
168 Flashcards
Source URL: https://quizplus.com/quiz/65265
Sample Questions
Q1) When a few individuals at the top of an organisation retain decision-making authority,the organisation is referred to as a(n):
A) investment centre.
B) decentralised organisation.
C) profit centre.
D) centralised organisation.
Q2) What is the segment margin of the R-100 product line?
A) $650 000
B) $900 000
C) $525 000
D) $400 000
Q3) Which of the following would be the best measure of performance for a profit centre?
A) Residual income
B) Return on investment (ROI)
C) Segment margin
D) Economic value added (EVA)
Q4) Under what type of situation would return on investment (ROI)be a better performance measure than residual income and vice versa?
17
To view all questions and flashcards with answers, click on the resource link above.
Chapter 15: Accounting for Sustainability Social
Reporting,environmental Reporting and Management
Accounting
Available Study Resources on Quizplus for this Chatper
64 Verified Questions
64 Flashcards
Source URL: https://quizplus.com/quiz/65264
Sample Questions
Q1) Which of the following expenses is most likely to be an external failure cost?
A) Regulatory fine
B) Salary expense
C) Quality control expenses
D) GHG monitoring expense
Q2) Companies focusing on sustainability value chains tend to consider which of the following concerns?
A) Environmental and psychological
B) Managerial and psychological
C) Investment and managerial
D) Environmental and social
Q3) What are appraisal costs? How are they different to prevention costs?
Q4) Explain how external costs might impact the management of Nike Inc. ,the world famous clothing brand,and how accounting systems might help better understand these challenges.
Q5) What are external failure costs? Please provide two examples of types of external failure costs.
Q6) How might the R&D,sourcing and production stages of a value chain be considered from a sustainability perspective? Please use Coca-Cola Amatil (CCA)to illustrate Page 18
examples.
To view all questions and flashcards with answers, click on the resource link above.
Page 19