In management accounting the terms 'cost' and 'expense' can be accurately used interchangeably?

A company wishes to evaluate a division which has the following extracts from income statement and statement of financial position. Income statement: $’000 Sales 500 Gross profit 200 Net profit 120 Statement of financial position: $’000 Non current assets 750 Current assets 350 Current liabilities (450) Net assets 650 What is the residual income for the division if the company has a cost of capital of 18%?

Which of the following bases is more an activity-based cost driver rather than a volume based cost driver in relation to applying overheads?

In a manufacturing overhead variance, which is excluded from a two-way variance, as opposed to a three-way?

Which of the following does NOT describe 'Backflush Costing'?

Operating Leverage Indicates

If sale is 1000, fixed cost is 200, and profit is 500, what is contribution margin ratio?

Which of the following is NOT used as a treatment of fixed manufacturing costs in management accounting?

Which of the following is *NOT* a benefit likely to arise from the implementation of a ‘just in time’ cost approach?

Rolling budgets are useful when

Which of the following would NOT be treated as a period cost in management accounting?