Professional Documents
Culture Documents
University of Southeastern Philippines College of Business Administration
University of Southeastern Philippines College of Business Administration
General Instruction: Do not write anything on this test questionnaire. Return this questionnaire
upon submission of your answer sheet/s. Use the FRONT PAGE ONLY of your answer sheet.
I. Matching Type
Match the description of the items in Column with the concepts/theories in Column
B. Write the LETTER that correspond to your answer.
l. Responsible officer in-charge of decisions in relation to A. Management Accounting
product pricing, product distribution, budgeting, and giving
B. Scope of Management
discounts to customers
2. Together with management accountants, they are tasked to Accounting
properly account and control the cost of product or service
C. Monetary and Non-monetary
3. Reporting entity as far as management accounting is
concerned D. Cost Accountants
4. Process within an organization that provides information used by
E. Accounting and Finance
organizations' managers in planning,
implementing, and controlling the organization's activities F. Responsibility Centers
5. Quantitative information used by managers in making sound business
G. The Controller
decisions
6. Branches of Accounting that are important in management H. Ethical Conduct
decision making include financial accounting, cost accounting, inflation
I. Management Accountants
accounting
7. Information content of management accounting reports J. Relevant Accounting
8. The top management accountant of a firm
Information
9. The department that management accountants supervise
10. As part of the management team, the management K. Variable Cost
accountant is required to be a person of integrity and know how to handle
L. Prime Cost
confidential information
l l . What it is called after the raw material is entered into the M. Direct Material
production process
N. Sunk Cost
12. Cost incurred in the past and is not considered in
incremental analysis O. Cost Object
13. Cost that is fixed per unit
P. Mixed Cost
14. Any item such as product, department, customer, or
project for which is cost is determined and assigned Q. Sales Mix
15. Represents both direct material and direct labor
16. The difference between revenues and variable cost R. Fixed Cost
17. Cost per unit decreases as the level of activity increases within the
S. Contribution Margin
relevant range
18. Also called semi-variable cost T. Margin of Safety
19. Excess of actual (or budgeted) sales over the break-even sales
20. Relative proportions in which a company's products are sold
Il. Problems (Show your FINAL ANSWERS only. Use separate sheets as scratch papers.)
1-15. Given the following data of Your Business, prepare a statement of cost of goods
sold:
16-30. Given are data of Your Corporation. If you have a target profit of PI 50,000, how
much should the sales revenue be?
31-40. Given the following information, identify the relevant items and determine the total
relevant cost:
56-75. Using the following information for The Company, prepare: (a) Sales Budget
and (b) Production Budget.
Product X Product Y
Forecast sales (units) 8,500 1,600
Selling price per unit P400 P560
Required ending inventory units 1,870 90
Beginning inventory (units) 170 85
Ill. Discussion
1-5. Illustrate by way of a framework the relationship of the components of a master budget.
k