1 Management Accounting Create a title page following the APA format Save the file as "Exam 1_Management Accounting_Name(Student N.)" Question 1-6 for 1 mark 1. Question: Budgeted financial statements are sometimes called pro forma statements. True False 2. A standard is a carefully predetermined price, cost, or quantity used for judging performance. True False 3. Centralized organizational structures allow a freedom of decision making to its managers. True False 4. Flexible budget not adjusted or altered after it is set. True/False 5. Management Accounting is responsible to make strategic decisions directly True False 6. The breakeven point is the level of production at which the costs of production are lower than the revenues for a product. True/False 7. What is a cash budget? (Marks 2) 8. What are Two attributes of performance? Define them (Marks 2) 9. What are 7 types of wastes in Lean management? (Marks 2) 10. Define product overcosting and product undercosting? (Marks 23 True False 5. Management Accounting is responsible to make strategie decisions directly True/False 6. The breakeven point is the level of production at which the costs of production are lower than the revenues for a product. True False 7. What is a cash budget? (Marks 2) 8. What are Two attributes of performance? Define them (Marks 2) 9. What are 7 types of wastes in Lean management? (Marks 2) 10. Define product overcosting and product undercosting? (Marks 2) 11. Define Pull manufacturing System. (Marks 2) 12. Define a responsibility centre. (Marks 2) 13. Describe industrial engineering method and give an example. (Marks 2) 14. Define customer-response time. (Marks 2) 15. Define the categories of Costs of quality. (Marks 5) (Marks 6) 16. Sales price per unit S450 Variable cost per unit $ 270 Monthly fixed cost $50,000 Calculate break-even point in units and in Samount Calculate CM Ratio o Prepare a contribution income statement if 5500 units are sold