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Acct 202 final exam




Question;Acc 202 Final exam On connectI am pasting 4 question rest in the attachmet1.;Packer Company, which has only one;product, has provided the following data concerning its most recent month of;operations;Selling price;$;81;Units in beginning;inventory;300;Units produced;1,800;Units sold;1,600;Units in ending;inventory;500;Variable costs per;unit;Direct;materials;$;19;Direct;labor;$;16;Variable;manufacturing overhead;$;1;Variable;selling and administrative;$;11;Fixed costs;Fixed;manufacturing overhead;$;34,200;Fixed;selling and administrative;$;3,200;The company produces the same;number of units every month, although the sales in units vary from month to;month. The company's variable costs per unit and total fixed costs have been;constant from month to month.;Required;a.;What is the unit product cost for;the month under variable costing?;Unit product cost;$;b.;Prepare a contribution format;income statement for the month using variable costing.(Input all amounts as positive values.);Variable;costing income statement;(Click to select);Sales;Variable selling and administrative;Variable cost of good sold;Fixed manufacturing overhead;Fixed selling and adminstrative;$;Variable expenses;(Click to select);Fixed manufacturing overhead;Sales;Fixed selling and adminstrative expenses;Variable selling and administrative expenses;Variable cost of goods sold;$;(Click to select);Fixed manufacturing overhead;Variable cost of goods sold;Sales;Fixed selling and adminstrative expenses;Variable selling and administrative expenses;Contribution margin;Fixed expenses;(Click to select);Fixed manufacturing overhead;Variable cost of goods sold;Fixed selling and adminstrative expenses;Sales;Variable selling and administrative expenses;(Click to select);Fixed selling and adminstrative expenses;Fixed manufacturing overhead;Variable selling and administrative expenses;Variable cost of goods sold;Sales;(Click to select);Net operating income;Net operating loss;$;c.;Without preparing an income;statement, determine the absorption costing net operating income for the;month. (Hint: Use the reconciliation method.);Net operating income;$;2.;Camren Corporation has;two major business segments-Apparel and Accessories. Data concerning those;segments for December appear below;Sales;revenues, Apparel;$;680,000;Variable;expenses, Apparel;$;299,000;Traceable;fixed expenses, Apparel;$;102,000;Sales;revenues, Accessories;$;770,000;Variable;expenses, Accessories;$;424,000;Traceable;fixed expenses, Accessories;$;100,000;Common fixed expenses;totaled $357,000 and were allocated as follows: $161,000 to the Apparel;business segment and $196,000 to the Accessories business segment.;Required;Prepare a segmented;income statement in the contribution format for the company.(Input all amounts as positive values.);Total;Apparel;Accessories;(Click to select);Cost of goods sold;Common fixed expenses;Traceable fixed expenses;Sales;Direct materials;$;$;$;(Click to select);Common fixed expenses;Traceable fixed expenses;Variable expenses;Direct materials;Cost of goods sold;Contribution;margin;(Click to select);Cost of goods sold;Traceable fixed expenses;Common fixed expenses;Variable expenses;Direct materials;Segment;margin;$;$;(Click to select);Traceable fixed expenses;Cost of goods sold;Direct materials;Common fixed expenses;Variable expenses;(Click to select);Net operating loss;Net operating income;$.;Wartenberg Corporation uses;customers served as its measure of activity. The company bases its budgets on;the following information: Revenue should be $3.80 per customer served. Wages;and salaries should be $38,800 per month plus $1.00 per customer served.;Supplies should be $0.60 per customer served. Insurance should be $7,100 per;month. Miscellaneous expenses should be $5,100 per month plus $0.30 per;customer served.;The company reported the following;actual results for January;Customers served;30,000;Revenue;$;115,500;Wages and salaries;$;66,900;Supplies;$;15,900;Insurance;$;6,800;Miscellaneous;$;15,500;Required;Prepare a report showing the;company's revenue and spending variances for January.(Input all amounts as positive;values. Leave no cells blank - be certain to enter "0";wherever required. Indicate the effect of each variance by selecting;F" for favorable, "U" for unfavorable, and;None" for no effect (i.e., zero variance).;Wartenberg;Corporation;Revenue and Spending Variances;For the Month Ended January 31;Revenue;$;(Click to select);F;U;None;Expenses;Wages and salaries;(Click to select);F;U;None;Supplies;(Click to select);F;U;None;Insurance;(Click to select);F;U;None;Miscellaneous;(Click to select);F;U;None;Total expenses;(Click to select);F;U;None;Net operating income;$;(Click to select);F;U;None;4.;Vera Corporation bases;its budgets on the activity measure customers served. During September, the;company planned to serve 28,000 customers, but actually served 27,000;customers. The company has provided the following data concerning the;formulas it uses in its budgeting;Fixed;element;per month;Variable;element;per customer;Revenue;-;$;5.00;Wages and;salaries;$;35,800;$;1.90;Supplies;$;0;$;0.60;Insurance;$;13,000;$;0.00;Miscellaneous;$;7,500;$;0.20;Required;Prepare the company's;flexible budget for September based on the actual level of activity for the;month.(Input all amounts as;positive values.);Vera Corporation;Flexible Budget;For the Month Ended September 30;Revenue;$;Expenses;Wages and;salaries;Supplies;Insurance;Miscellaneous;Total;expenses;Net;operating income;$


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