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ACC Wiley Plus Assignment Quiz 3 Solution

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Question;Multiple Choice Question 62Manor Company had the following department data:Physical UnitsWork in process, July 1Completed and transferred out Work in process, July 3130,000135,00035,000Materials are added at the beginning of the process. What is the total number of equivalent units for materials in July?135,000.140,000.200,000.170,000.Multiple Choice Question 63Corsica Company had the following department data:Physical UnitsWork in process, beginningCompleted and transferred outWork in process, ending-060,0007,000Materials are added at the beginning of the process. What is the total number of equivalent units for materials during the period?67,000.7,000.60,000.53,000.Multiple Choice Question 64Gardaner Company had the following department information about physical units and percentage of completion:Physical UnitsWork in process, May 1 (60%)60,000Completed and transferred out Work in process, May 31 (40%)150,00040,000If materials are added at the beginning of the production process, what is the total number of equivalent units for materials during May?190,000.202,000.166,000.210,000.Multiple Choice Question 66In the month of June, a department had 20,000 units in beginning work in process that were 70% complete. During June, 70,000 units were transferred into production from another department. At the end of June there were 10,000 units in ending work in process that were 40% complete. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. How many units were transferred out of the process in June?70,000 units.80,000 units.90,000 units.100,000 units.Multiple Choice Question 67In the month of June, a department had 30,000 units in beginning work in process that were 70% complete. During June, 80,000 units were transferred into production from another department. At the end of June there were 10,000 units in ending work in process that were 40% complete. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. The equivalent units of production for materials for June were100,000 equivalent units.114,000 equivalent units.110,000 equivalent units.80,000 equivalent units.Multiple Choice Question 68In the month of June, a department had 30,000 units in beginning work in process that were 70% complete. During June, 80,000 units were transferred into production from another department. At the end of June there were 10,000 units in ending work in process that were 40% complete. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. The equivalent units of production for conversion costs for June were110,000 equivalent units.80,000 equivalent units.90,000 equivalent units.104,000 equivalent units.Multiple Choice Question 69A process with no beginning work in process, completed and transferred out 28,000 units during a period and had 12,000 units in the ending work in process that were 50% complete. How much is equivalent units of production for the period for conversion costs?22,000 equivalent units.34,000 equivalent units.46,000 equivalent units.40,000 equivalent units.Multiple Choice Question 70A process with 1,600 units of beginning work in process, completed and transferred out 20,000 units during a period. There were 10,000 units in the ending work in process that were 50% complete as to conversion costs. Materials are added 80% at the beginning of the process and 20% when the units are 90% complete. How much is equivalent units of production for the period for material costs?24,000 equivalent units.22,000 equivalent units.30,000 equivalent units.28,000 equivalent units.Multiple Choice Question 71Haley Company had the following department data on physical units: Work in process, beginning3,000Completed and transferred out6,600Work in process, ending2,400Materials are added at the beginning of the process. What is the total number of equivalent units for materials during the period?9,000.3,600.2,400.7,200.Multiple Choice Question 72Meca-Tech Industries had the following department information about physical units and percentage of completion:Physical UnitsWork in process, June 1 (75%)8,000Completed and transferred out15,000Work in process, June 30 (50%)12,000If materials are added at the beginning of the production process, what is the total number of equivalent units for materials during June?27,000.15,000.21,000.11,000.Multiple Choice Question 79Taylon's Seafood used high-low data from June and July to determine its variable cost of $18 per unit. Additional information follows:Month Units producedTotal costsJune2,000$48,000July1,00030,000If Tommy?s produces 2,200 units in August, how much is its total cost expected to be?$57,600$51,600$39,600$52,800Multiple Choice Question 85To which function of management is CVP analysis most applicable?DirectingMotivatingControllingPlanningMultiple Choice Question 86Kelly Company produces flash drives for computers, which it sells for $20 each. Each flash drive costs $15 of variable costs to make. During April, 1,000 drives were sold. Fixed costs for March were $2 per unit for a total of $1,000 for the month. How much is the contribution margin ratio?20%75%80%%Multiple Choice Question 88If a company had a contribution margin of $750,000 and a contribution margin ratio of 40%, total variable costs must have been$1,875,000.$300,000.$450,000.$1,125,000.Multiple Choice Question 90A company has contribution margin per unit of $60 and a contribution margin ratio of 40%. What is the unit selling price?Cannot be determined$150.00$24.00$100.00Multiple Choice Question 91Sales are $500,000 and variable costs are $200,000. What is the contribution margin ratio?40%60%Cannot be determined because amounts are not expressed per unit50%Multiple Choice Question 92Hansen's variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $33,000. If sales are expected to increase $70,000, by how much will the company's net income increase?$37,000$16,000$49,000$12,000Multiple Choice Question 93Fowlen, Inc. has a product with a selling price per unit of $200, the unit variable cost is $90, and the total monthly fixed costs are $300,000. How much is Fessler?s contribution margin ratio?45%55%150%222%Multiple Choice Question 94Grave Company has a contribution margin of $500,000 and a contribution margin ratio of 40%.How much are total variable costs?$1,250,000$300,000$200,000$750,000Multiple Choice Question 95ISSAC Company has a contribution margin per unit of $21 and a contribution margin ratio of 60%. How much is the selling price of each unit?$12.60$52.50Cannot be determined without more information$35.00Multiple Choice Question 96A division sold 100,000 calculators during 2014:Sales$2,000,000Variable costs:Materials$380,000Order processing 110,000Billing labor 150,000Selling expensesTotal variable costsFixed costs60,000700,0001,000,000How much is the contribution margin per unit?$2$7$17$13Multiple Choice Question 97At the break-even point of 2,000 units, variable costs are $120,000, and fixed costs are $64,000. How much is the selling price per unit?$92$32$28Not enough informationMultiple Choice Question 72The following information is taken from the production budget for the first quarter: Beginning inventory in unitsSales budgeted for the quarterCapacity in units of production facility1,800678,000708,000How many finished goods units should be produced during the quarter if the company desires 4,800 units available to start the next quarter?682,800675,000681,000711,000Multiple Choice Question 73An overly optimistic sales budget may result ininsufficient inventories.increased sales during the year.excessive inventories.increases in selling prices late in the year.Multiple Choice Question 74In a production budget, total required units are the budgeted sales units plusdesired ending finished goods units plus beginning finished goods units.desired ending finished goods units minus beginning finished goods units.beginning finished goods units.desired ending finished goods units.Multiple Choice Question 75The direct materials budget details1. the quantity of direct materials to be purchased.2. the cost of direct materials to be purchased.neither 1 nor 212both 1 and 2Multiple Choice Question 76The production budget shows expected unit sales of 65,000. Beginning finished goods units are 11,200. Required production units are 67,200. What are the desired ending finished goods units?12,80013,4009,00011,200Multiple Choice Question 77The production budget shows expected unit sales are 100,000. The required production units are 104,000. What are the beginning and desired ending finished goods units, respectively? Beginning UnitsEnding Units10,0006,0006,00010,0004,00010,00010,0004,000Multiple Choice Question 78The production budget shows that expected unit sales are 80,000. The total required units are 90,000. What are the required production units?10,000Cannot be determined from the data provided15,00030,000Multiple Choice Question 79The direct materials budget shows:Units to be producedTotal pounds needed for productionTotal materials required6,00030,00026,400What are the direct materials per unit?.44 pounds4.4 poundsCannot be determined from the data provided5.0 poundsMultiple Choice Question 80The direct materials budget shows:Desired ending direct materialsTotal materials requiredDirect materials purchases74,000 pounds108,000 pounds94,800 poundsThe total direct materials needed for production is34,000 pounds.13,200 pounds.20,800 pounds.202,800 pounds.Multiple Choice Question 81If the required direct materials purchases are 36,000 pounds, the direct materials required for production is three times the direct materials purchases, and the beginning direct materials are three and a half times the direct materials purchases, what are the desired ending direct materials in pounds?36,00090,00018,00054,000Multiple Choice Question 81In the Palm Company, indirect labor is budgeted for $108,000 and factory supervision is budgeted for $36,000 at normal capacity of 160,000 direct labor hours. If 180,000 direct labor hours are worked, flexible budget total for these costs is $148,500.$144,000.$157,500.$162,000.Multiple Choice Question 82Kettler Company uses flexible budgets. At normal capacity of 16,000 units, budgeted manufacturing overhead is: $64,000 variable and $180,000 fixed. If Kettler had actual overhead costs of $246,000 for 18,000 units produced, what is the difference between actual and budgeted costs?$4,000 favorable.$6,000 unfavorable.$6,000 favorable.$4,000 unfavorable.Multiple Choice Question 83A company's planned activity level for next year is expected to be 200,000 machine hours. At this level of activity, the company budgeted the following manufacturing overhead costs:VariableIndirect materialsIndirect laborFactory suppliesFixed$240,000320,00040,000Depreciation $100,000Taxes 20,000Supervision 80,000A flexible budget prepared at the 190,000 machine hours level of activity would show total manufacturing overhead costs of$760,000.$570,000.$600,000.$770,000.Multiple Choice Question 84Casey Industries produced 256,000 units in 120,000 direct labor hours. Production for the period was estimated at 264,000 units and 132,000 direct labor hours. A flexible budget would compare budgeted costs and actual costs, respectively, at 132,000 hours and 120,000 hours.128,000 hours and 120,000 hours.120,000 hours and 120,000 hours.128,000 hours and 132,000 hours.Multiple Choice Question 85A company's planned activity level for next year is expected to be 200,000 machine hours. At this level of activity, the company budgeted the following manufacturing overhead costs:VariableIndirect materialsIndirect laborFactory suppliesFixed$180,000240,00030,000Depreciation $75,000Taxes 15,000Supervision 70,000A flexible budget prepared at the 180,000 machine hours level of activity would show total manufacturing overhead costs of$565,000.$450,000.$405,000.$550,000.Multiple Choice Question 86Lampim Industries produced 320,000 units in 160,000 direct labor hours. Production for the period was estimated at 330,000 units and 165,000 direct labor hours. A flexible budget would compare budgeted costs and actual costs, respectively, at160,000 hours and 160,000 hours.165,000 hours and 165,000 hours.165,000 hours and 150,000 hours.165,000 hours and 160,000 hours.Multiple Choice Question 87At zero direct labor hours in a flexible budget graph, the total budgeted cost line intersects the vertical axis at $40,000. At 20,000 direct labor hours, a horizontal line drawn from the total budgeted cost line intersects the vertical axis at $120,000. Fixed and variable costs may be expressed as:$80,000 fixed plus $4 per direct labor hour variable.$80,000 fixed plus $2 per direct labor hour variable.$40,000 fixed plus $4 per direct labor hour variable.$40,000 fixed plus $6 per direct labor hour variable.Multiple Choice Question 88At 18,000 direct labor hours, the flexible budget for indirect materials is $36,000. If $37,600 are incurred at 18,400 direct labor hours, the flexible budget report should show the following difference for indirect materials:$800 favorable.$1,600 favorable.$800 unfavorable.$1,600 unfavorable.

 

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