ACC 561 Final Exam 6

May 8th, 2015
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ACC 561 Final Exam 6

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ACC 561 Final Exam1) Which of the following is not a major factor causing changes in management accounting today? A. Declining work ethic is not a major factor. B. Increasing importance of the service sector of the economy is not a major factor. C. E-commerce is not a major factor. D. Increased global competition is not a major factor. 2) The primary users of management accounting information are _______ A. bankers B. suppliers C. internal decision makers D. governmental regulatory authorities 3) The _____ is also called the statement of financial position. A. income statement B. statement of cash flows C. statement of retained earnings D. balance sheet 4) Costs are allocated for all the following purposes except to A. determine inventory levels B. obtain reimbursement C. predict the economic effects of planning and control decisions D. compute income and asset valuation 5) Martinez Company has two service departments, Maintenance and Personnel, as well as two production departments, Mixing and Finishing. Maintenance costs are allocated based on square footage while personnel costs are allocated based on number of employees. The following information has been gathered for the current year: Maintenance Personnel Mixing Finishing Direct dept. costs $50,400 $33,600 $42,000 $5,600 Square footage 1,600 800 3,200 2,400 Number of employees 16 24 48 64 If the step down method is used to allocate costs and the Maintenance Department is allocated first, the

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