Managerial Accounting Quiz

Managerial Accounting Quiz

Q1. Discus how static budget failed to analyze cost and revenues variances and how flexible budget has overcame static budgets’ deficiencies and explain how does the flexible budget actually work?
[15 marks]
Note: do not copy and paste from other sources, you can use other sources but formulate your own answers.
Q2. Hamed Company is preparing budgets for the quarter ending June 30, 2019.
Budgeted sales in units for the next five months are:
April May June July
20,000 50,000 30,000 25,000

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Required:
a. Prepare Sales budget for April, May & June assuming selling price per unit is SR 15.
[10 marks]

b. Prepare production budget for April, May & June if the company wishes ending inventory as
10 % of next month sales units. [10 marks]

Q3.Oraby Industries is a division of a major corporation. Last year the division had total sales of SAR 23,380,000, operating income of SAR 2,828,980, and invested assets of SAR 10,000,000.
Required:
a. What is the division’s profit margin? [5 marks]
b. What is the division’s investment turnover? [5 marks]
c. What is the division’s return on investment (ROI) using DuPont formula? [5 marks]
d. What is the residual income if investors require a minimum return of 20%? [5 marks]

Q4. Taha Company produces joint three products: Product A, Product B, and Product C.
During the year, joint costs of processing the three products were SAR400, 000. The following information were given to you as follows:

Product Units
Produced Selling price per unit at split-off point(SR) Expenses per unit after split-off point ( (SR) Selling price per unit after split-off point(SR)
A 400,000 20 20 40
B 400,000 18 15 28
C 800,000 12 14 17
Required:
a. Allocate the joint costs using the physical output method. [15 marks]
b. Allocate the joint costs using the net realizable value method. [15 marks]
c. Allocate the joint costs using sales value at split-off point method. [15 marks] Format your paper according to APA style

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