You are on page 1of 4

VIETNAM NATIONAL UNIVERSITY, HANOI

Socialist Republic of Vietnam

UNIVERSITY OF ECONOMICS AND BUSINESS

Independence - Freedom - Happiness

Management Accounting
Short-term examination
TEST 01

Question 1. Maintenance costs at a Neller Corporation factory are listed below:

Management believes that maintenance cost is a mixed cost that depends on machine-hours.
Using the high-low method to estimate the variable and fixed components of this cost, these
estimates would be closest to:
A. $1.85 per machine-hour; $21,325 per month
B. $3.77 per machine-hour; $15,648 per month
C. $9.07 per machine-hour; $26,762 per month
D. $0.27 per machine-hour; $26,071 per month
Required:
1. Translate the question into Vietnamese language.
2. Show your work

Question 2. Golebiewski Inc. bases its manufacturing overhead budget on budgeted direct laborhours. The direct labor budget indicates that 4,900 direct labor-hours will be required in
November. The variable overhead rate is $8.40 per direct labor-hour. The company's budgeted
fixed manufacturing overhead is $78,400 per month, which includes depreciation of $10,290. All
other fixed manufacturing overhead costs represent current cash flows. The company recomputes
its predetermined overhead rate every month. The predetermined overhead rate for November
should be:
A. $22.30
B. $16.00
C. $24.40
D. $8.40
Required:
1. Translate the question into Vietnamese language.
2. Show your work

Question 3.
Justin's Plant Store, a retailer, started operations on January 1. On that date, the only assets were
$16,000 in cash and $3,500 in merchandise inventory. For purposes of budget preparation,
assume that the company's cost of goods sold is 60% of sales. Expected sales for the first four
months appear below.

The company desires that the merchandise inventory on hand at the end of each month be equal
to 50% of the next month's merchandise sales (stated at cost). All purchases of merchandise
inventory must be paid in the month of purchase. Sixty percent of all sales should be for cash;
the balance will be on credit. Seventy-five percent of the credit sales should be collected in the
month following the month of sale, with the balance collected in the following month. Variable
selling and administrative expenses should be 10% of sales and fixed expenses (all depreciation)
should be $3,000 per month. Cash payments for the variable selling and administrative expenses
are made during the month the expenses are incurred.
a. In a budgeted income statement for the month of February, net income would be:
A. $9,000
B. $1,800
C. $0
D. $4,200
b. In a budgeted balance sheet, the Merchandise Inventory on February 28:
A. $4,800
B. $7,500
C. $9,600
D. $3,200
c. The Accounts Receivable balance that would appear in the March 31 budgeted balance sheet
would be:
A. $15,000
B. $16,000
C. $8,800
D. $12,400

d. In a cash budget for March, the total cash receipts would be:
A. $17,800
B. $8,200
C. $20,200
D. $16,000
e. In a cash budget for March, the total cash disbursements would be:
A. $11,200
B. $13,900
C. $22,300
D. $16,900

Required:
1. Translate the question into Vietnamese language.
2. Show your work

You might also like