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Management Accounting_CH_2_MCQS

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Question;Multiple Choice Quiz;Top of Form;1;All of the following would be classified as manufacturing overhead except;the;A);wages of supervisor of the machining shop.;B);depreciation of the equipment in the machining;shop.;C);property taxes relating to the building that;houses the machining shop.;D);All of the above would be classified as;manufacturing overhead.;2;All of the following would be classified as product costs except;A);the cost of air-conditioning the factory;foreman's office.;B);depreciation on the machinery in the factory.;C);the cost of shipping units of product to one of;the company's customers.;D);All of the above would be classified as product;costs.;3;Within the relevant range;A);both total variable costs and total fixed costs;will remain constant.;B);both total variable costs and total fixed costs;fluctuate.;C);fixed costs per unit will remain constant and;variable costs per unit will fluctuate.;D);variable costs per unit will remain constant and;fixed costs per unit will fluctuate.;4;An analysis of a particular cost incurred in a factory revealed that the cost;is averages $0.40 per machine-hour at an activity level of 20,000 machine;hours and increases to an average of $0.50 per machine hour at an activity;level of 16,000 machine hours. Assuming that this activity is within the;relevant range, what is the total expected cost if the activity level is;17,300 machine hours?;A);$1,600;B);$6,960;C);$8,000;D);$9,000;5;Given the cost formula Y = $30,000 + $5X, total cost at an activity level of;16,000 units would be;A);$30,000.;B);$46,000.;C);$80,000.;D);$110,000.;6;The Sante Company incurred $40,000 to ship 19,000 pounds and $34,000 to ship;16,000 pounds. If the company ships 18,000 pounds, its expected shipping;expense is closest to;A);$37,000.;B);$37,895.;C);$38,000.;D);$38,250.;7;The following information was summarized from the records of the Muentes;Company for the first quarter of the year;The company's gross margin for the quarter was;A);$280,000.;B);$380,000.;C);$420,000.;D);$440,000.;8;The following information was summarized from the records of the Muentes;Company for the first quarter of the year;The company's contribution margin for the quarter;was;A);$280,000.;B);$380,000.;C);$420,000.;D);$600,000.;9;Which one of the following costs would not be considered an indirect cost of;serving a particular customer at a delicatessen?;A);The salary of the manager.;B);The cost of the tables and chairs used to furnish;the restaurant.;C);The cost of the bread used to make the sub;sandwich that is ordered.;D);The cost of lighting and heating the restaurant.;10;An opportunity cost is;A);the difference between the total cost of one;alternative and the total cost of another alternative.;B);the benefit forgone when one alternative is;selected rather than another.;C);a cost that is saved by not adopting a given;alternative.;D);a cost that continues to be incurred even when;there is no activity.

 

Paper#37309 | Written in 18-Jul-2015

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