Question 1

For Fitter Snacker,the sum of direct materials,production overhead,and direct labor is the ____.

Accepted Answer

The answer of For Fitter Snacker,the sum of direct materials,production...

Question 2

With a properly configured and managed ERP system,there are direct links between the company's ____________________ and individual transactions that make up the statements,so that fraud and abuse can be detected more easily.

Accepted Answer

The answer of With a properly configured and managed ERP...

Question 3

This is Fitter Snacker's ____.

Accepted Answer

The answer of This is Fitter Snacker's ____. 
...

Question 4

The two key pieces of information for a cost analysis is the direct material and the direct ____.

Accepted Answer

Direct labor is the other key cost component, along with direct materials. Direct labor refers to the cost of the wages and benefits for the employees who directly work on the product or service being produced. Overhead, selling costs, and drivers may also be important cost components, but they are not the two key pieces of information for a cost analysis.

Question 5

What is the following? ____________________

Accepted Answer

The answer of What is the following? ____________________ ...

Question 6

Another name for an income statement is a ____.

Accepted Answer

A profit and loss statement is another term for an income statement. The other options (credit, sales, revenue) are either different financial statements or components of an income statement.

Question 7

What is the following? ____________________

Accepted Answer

The answer of What is the following? ____________________ ...

Question 8

This is Fitter Snacker's ____.

Accepted Answer

Fitter Snacker's 11ea6384_5532_63fd_8970_4da75f010376_TB6204_00 is likely a reference number or code for their balance sheet. A balance sheet provides a snapshot of a company's financial position at a given point in time, showing assets, liabilities, and equity.

Question 9

Given that the cost of manufacturing NRG-A bars is $0.72 per bar,how much does FS need to charge to make a profit of $0.25?

Accepted Answer

The answer of Given that the cost of manufacturing NRG-A...

Question 10

If Fitter Snacker's cost of making a case of bars is $209.82,and there are 24 bars to a box and 12 boxes to a case,how much money does it cost Fitter Snacker to make each individual bar?

Accepted Answer

To find the cost of making each individual bar we need to divide the cost of making a case ($209.82) by the total number of bars in a case (24 bars per box x 12 boxes per case = 288 bars).

$209.82 ÷ 288 = $0.728819 ~ $0.72

So it costs Fitter Snacker $0.72 to make each individual bar. The correct choice is D.

Question 11

Any business events that occur between companies and their subsidiaries are known as ____________________.

Accepted Answer

The answer of Any business events that occur between companies...

Question 12

Describe the general ledger with regard to SAP ERP.

Accepted Answer

The answer of Describe the general ledger with regard to...

Question 13

How does ERP facilitate "drilling down" to see the details of transaction data?

Accepted Answer

The answer of How does ERP facilitate "drilling down" to...

Question 14

In a company that has an ERP system the accountants talk in terms of "data flows between modules" and "sharing data between modules".Why are the accountants speaking imprecisely? I.e.,why are "data flows between modules" and "sharing data between modules" misnomers if an ERP system is used?

Accepted Answer

The answer of In a company that has an ERP...

Question 15

The following screen in SAP is an example of ____.

Accepted Answer

The screen shown in the given code is related to Document Flow, which displays the entire document history of a transaction in chronological order. The other options, such as Production Planning, MRP, and Configuration Settings, are different modules in SAP and have different screens.

Question 16

A manufactured item has three cost elements.State what they are and briefly explain the nature of each.

Accepted Answer

The answer of A manufactured item has three cost elements.State...

Question 17

In an ERP system,the balance sheet and P&L statements are: ____.

Accepted Answer

In an ERP system, the balance sheet and P&L statements are generated through reports which can be viewed and accessed as needed. They are not separate modules, and they are not generated yearly by default.

Question 18

Assume Fitter Snacker's existing information systems are in place.FS has a customer called First State TastyBars.Here is the background data on FS and First State TastyBars:  An order has come in from First State TastyBars:  There are some documents in FS's system as follows:  
a. Given the state of FS's systems, will credit be granted or denied on the current order (purchase order FST 1003)?
b. What is the actual First State TastyBars accounts receivable balance (without considering the current order)?
c. If the FS systems processed transaction data in a more timely way would credit be granted or denied? Why?

Accepted Answer

The answer of Assume Fitter Snacker's existing information systems are...

Question 19

Assume a company has many foreign-based subsidiaries.In what ways can ERP improve preparation of consolidated financial statements?

Accepted Answer

The answer of Assume a company has many foreign-based subsidiaries.In...

Question 20

What is the advantage to credit management in SAP ERP?

Accepted Answer

The advantage to credit management in SAP ERP is that the data is in real-time, allowing for more accurate and timely decision-making related to credit limits, payment terms, and collections. This can ultimately improve cash flow and reduce credit risks for the company.

Quiz 5: Accounting in ERP Systems

For Fitter Snacker,the sum of direct materials,production overhead,and direct labor is the ____.

With a properly configured and managed ERP system,there are direct links between the company's ____________________ and individual transactions that make up the statements,so that fraud and abuse can be detected more easily.

This is Fitter Snacker's ____.

The two key pieces of information for a cost analysis is the direct material and the direct ____.

What is the following? ____________________

Another name for an income statement is a ____.

What is the following? ____________________

This is Fitter Snacker's ____.

Given that the cost of manufacturing NRG-A bars is $0.72 per bar,how much does FS need to charge to make a profit of $0.25?

If Fitter Snacker's cost of making a case of bars is $209.82,and there are 24 bars to a box and 12 boxes to a case,how much money does it cost Fitter Snacker to make each individual bar?

Any business events that occur between companies and their subsidiaries are known as ____________________.

Describe the general ledger with regard to SAP ERP.

How does ERP facilitate "drilling down" to see the details of transaction data?

In a company that has an ERP system the accountants talk in terms of "data flows between modules" and "sharing data between modules".Why are the accountants speaking imprecisely? I.e.,why are "data flows between modules" and "sharing data between modules" misnomers if an ERP system is used?

The following screen in SAP is an example of ____.

A manufactured item has three cost elements.State what they are and briefly explain the nature of each.

In an ERP system,the balance sheet and P&L statements are: ____.

Assume a company has many foreign-based subsidiaries.In what ways can ERP improve preparation of consolidated financial statements?

What is the advantage to credit management in SAP ERP?