W8 “Final Exam” BA225 Managerial Accounting
Question 1
What is the difference between financial accounting and managerial accounting?
Question 2
Explain the two reasons why the shorter the payback period the more attractive the investment is when the payback technique is used?
Question 3
Distinguish between a master budget and a sales forecast.
Question 4
Explain the nature and importance of a job cost sheet.
Question 5
Distinguish among operating, investing, and financing activities.
Question 6
Managers’ activities and responsibilities can be classified into three broad functions. List and discuss each function.
Question 7
Identify and discuss the relevant costs in accepting an order at a special price.
Question 8
Smith & Company claims that the relevant range concept is only important for variable costs. Explain the relevant range concept and discuss whether you agree with Smith & Company.
Question 9
What is a CVP analysis and how is it used in managerial accounting?
Question 10
What is the difference between: unit-level, batch-level, product-level, and facility-level activities?
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