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Free Saylor Managerial Accounting Exam BUS105 Exam Questions

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Question 1

You are the Controller for Healthcare Technology LLC, and you have been tasked with evaluating an upgraded enterprise resource planning system. Which of the following details would be relevant to your decision-making process?

Correct Answer: C. The company needs a cloud-based document storage system

Question 2

Archer Corporation manufactures coffee cups in the Midwest. Using this data, calculate the total current period manufacturing costs for the Schedule of Cost of Goods Manufactured for the year ending on December 31, 2021.

Correct Answer: B. $604,000

Question 3

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?

Correct Answer: B. Debit cost of goods sold $1,250; credit manufacturing overhead $1,250

Question 4

This is select financial statement data for Binks Corporation. What is the inventory turnover ratio for year 2?

Correct Answer: C. 4.7

Question 5

You are the newly hired manager of an individual restaurant chain. Which of the following responsibilities for your responsibility center would you be evaluated on?

Correct Answer: C. Revenues, costs, and resulting profits

Question 6

Use the following relevant data to assign costs to units transferred out and units in ending WIP inventory. Total Units Accounted For:

Cost per Equivalent Unit:

What is the total cost of production?

Correct Answer: C. $4,500