The question below is based on the following information. Chem King uses a standard costing system in the manufacture of its single product. The 35,000 units of raw material purchased and used cost $105,000, and two units of raw material are required to produce one unit of final product. In November, the company produced 12,000 units of product. The flexible budget for material was $60,000, and there was an unfavorable static budget variance of $35,000.  The number of outputs planned for in Chem King’s static budget was

Which of the following items is reported on a cash flow statement prepared by the direct method?

Discussion Question 1: (15 points)     You are the Controller of Kilgore and Ferino Company. Three of your company’s division managers have presented potential expansion project proposals to you. Based upon you analysis of available capital project funds for the upcoming year, you determine that the company will only be able to fund two of the three projects.       Required: As the Controller, describe that analyses, processes and procedures that you would complete in determining which two projects to fund. (Make references to topics we have discussed in class from either the Management Accounting text, the Controllership text, or both.)  

The beginning balance in accounts receivable is $44,000, the ending balance in accounts receivable is $42,000, and sales during the period are $129,000. What are cash receipts from customers?

What type of analysis is indicated by the following:                                                                        Amount         Percent Current assets                                               $100,000           20% Property, plant & equip.                                   400,000           80% Total assets                                                    $500,000         100%

Which of the following techniques would be best for evaluating the management performance of a department that is operated as a cost center?

The basic difference between a master budget and a flexible budget is that a master budget is:

Which of the following measures indicates the ability of a firm to pay its current liabilities?

Jaspar Company has a payback goal of 3 years on new equipment acquisitions. A new sorter is being evaluated that costs $450,000 and has a 5-year life. Straight-line depreciation will be used; no salvage value is anticipated. Jaspar is subject to a 40% income tax rate. To meet the company’s payback goal, the sorter must generate reductions in annual cash operating costs of

A measure useful in evaluating the efficiency in the measurement of inventories is: