Practice exam questions, managerial accounting
Not what you're looking for?
1. Olivier Framing's cost formula for its supplies cost is $2,960 per month plus $19 per frame. For the month of January, the company planned for activity of 545 frames, but the actual level of activity was 546 frames. The actual supplies cost for the month was $12,997. The spending variance for supplies cost in January would be closest to:
a.$337 F
b.$318 U
c.$337 U
d.$318 F
Crose Inc. is working on its cash budget for November. The budgeted beginning cash balance is $23,100. Budgeted cash receipts total $118,700 and budgeted cash disbursements total $115,500. The desired ending cash balance is $41,900.
2. To attain its desired ending cash balance for November, the company needs to borrow:
a.$41,900
b.$0
c.$68,200
d.$15,600
Purchase this Solution
Solution Summary
Your tutorial completes a variable budget and cash budget in Excel (click in cells to see computations) so you can have a template for solving similar problems.
Education
- BSc, University of Virginia
- MSc, University of Virginia
- PhD, Georgia State University
Recent Feedback
- "hey just wanted to know if you used 0% for the risk free rate and if you didn't if you could adjust it please and thank you "
- "Thank, this is more clear to me now."
- "Awesome job! "
- "ty"
- "Great Analysis, thank you so much"
Purchase this Solution
Free BrainMass Quizzes
Team Development Strategies
This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.
Organizational Leadership Quiz
This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.
Cost Concepts: Analyzing Costs in Managerial Accounting
This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.
Accounting: Statement of Cash flows
This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.