Saylor Managerial Accounting BUS105 Exam Practice Test

SJ Candles subscribes to a management theory known as management by exception. Which of the following best describes a situation where management by exception would be applied?

Myer Inc. achieved their goal of reducing their employee turnover rate by 15%. Which of the following perspectives of their balanced scorecard is most likely to include this measure?

SJ Candles should expect the absorption costing and variable costing methods to result in the same 4th quarter operating profit when which of the following is true?

Wycliff Corp. had an immaterial credit balance of $1,250 in the manufacturing overhead account after $21,750 was applied to the WIP inventory account. To close the manufacturing overhead account at the end of the period, assuming no further transactions took place, what should Wycliff do?

A potential lender is investigating Wyatt Corporation's leverage. This is select balance sheet data for Wyatt Corporation as of December 31. What is the company's debt to assets ratio?

Thompson Dental is deciding between two lease options for a new copier. They anticipate making 22,500 copies spread evenly over the course of the year. Which of the following options should they choose if they want to save the most money on an annual basis, and how much money will they save?

Option 1: Monthly lease: $225, Included copies: 1,500/month, Additional copies: $0.15 per copy

Option 2: Monthly lease: $250, Included copies: 1,800/month, Additional copies: $0.02 per copy

You are the financial accountant for Antioch Ski Resort. Managers have been promised end-of-year bonuses if profits for the year increase by 10%. At the end of the year, you determine that profits increased by only 8%, and the managers ask you to "fudge the numbers a bit" so they can still receive their bonuses. What should you do?