Business Management Accounting Worksheet

1.ATB Pty Ltd is one of the largest companies in mining industry. Which of the following is an example of ‘planning’?Select one:a.Creating operation targets for the firm’s brand-new mines.b.Taking legal actions to protect the mining areas from invasion of environmental activists.c.Making corrective actions to respond to lower-than-expected production levels in the existing mines.d.Setting and presenting bonuses to ATB Pty Ltd’s top performing executives.(S) studentcom:Include2.What is an example of a discretionary cost for a furniture manufacturer?Select one:a.screws and glue.b.research cost of a new product.c.wages of assemblers.d.processed wood.(S) studentcom:Include3.Within the relevant range of an activity in a business:Select one:a.management may find it unimportant to consider the related costs.b.variable costs per unit remain unchanged.c.the firm may not be operated normally.d.the expected costs exceed the benefits from the activity.(S) studentcom:Include4.On the debit side of the manufacturing overhead account, we will record:Select one:a.Actual manufacturing overhead costs incurred in the period and over-applied manufacturing overhead for the period.b.Actual manufacturing overhead costs incurred in the accounting period.c.Applied manufacturing overhead applied to operation activities.d.Over-applied manufacturing overhead for the period.