Question;Question 1;5 out of 5 points;Although;depreciation is always a period cost in a merchandising firm, it can be a;product cost in a manufacturing firm.;Question 2;5 out of 5 points;Even;departmental overhead rates will not ly assign overhead costs in situations;where a company has a range of products that differ in volume, lot size, or;complexity of production.;Question 3;5 out of 5 points;An;increase in the number of units sold will decrease the break-even point.;Question 4;5 out of 5 points;Fixed;cost per unit increases as activity decreases and decreases as activity;increases.;Question 5;5 out of 5 points;The;usual starting point in budgeting is to make a forecast of cash receipts and;cash disbursements.;Question 6;5 out of 5 points;Which;of the following comparisons best isolates the impact that changes in prices of;inputs and outputs have on performance?;Question 7;5 out of 5 points;If the;actual labor hours worked exceed the standard labor hours allowed, what type of;variance will occur?;a. Favorable labor efficiency variance.;b. Favorable labor rate variance.;c. Unfavorable labor efficiency variance.;d. Unfavorable labor rate variance.;Question 8;5 out of 5 points;Which of the following performance measures will decrease if;there is an increase in the accounts receivable?;Return on Investment Residual;Income;A) Yes Yes;B) No Yes;C) Yes No;D) No No;A;B;C;D;Question 9;5 out of 5 points;Which;of the following will not result in an increase in return on investment (ROI);assuming other factors remain the same?;a. A reduction in expenses.;b. An increase in net operating income.;c. An increase in operating assets.;d. An increase in sales.;Question 10;10 out of 10 points;Lyons;Company consists of two divisions, A and B. Lyons Company reported a;contribution margin of $50,000 for Division A, and had a contribution margin;ratio of 30% in Division B, when sales in Division B were $200,000. Net;operating income for the company was $25,000 and traceable fixed expenses were;$40,000. Lyons Company's common fixed expenses were;a. $85,000;b. $70,000;c. $45,000;d. $40,000;Question 11;10 out of 10 points;The PDQ Company makes;collections on credit sales according to the following schedule;25% in month of sale;70% in month following sale;4% in second month following sale;1% uncollectible;The following sales have been budgeted;Month Sales;April $100,000;May $120,000;June $110,000;Cash collections in June would be;a. $113,400;b. $110,000;c. $111,000;d. $115,500;Question 12;5 out of 5 points;Misemer;Corporation is developing standards for its products. One product requires an;input that is purchased for $57.00 per kilogram from the supplier. By paying;cash, the company gets a discount of 8% off this purchase price. Shipping costs;from the supplier's warehouse amount to $3.60 per kilogram. Receiving costs are;$0.26 per kilogram. The standard price per kilogram of this input should be;a. $57.70;b. $56.30;c. $65.42;d. $57.00;Question 13;10 out of 10 points;Vodopich Corporation;has provided the following data from its activity-based costing system;Activity Cost Pool Total;Cost Total Activity;Assembly;$698,950.00 35,000 machine-hours;Processing orders;$85,101.00 1,900 orders;Inspection;$107,440.00 1,580 inspection-hours;Data concerning the;company's product P58Z appear below;Annual unit production and sales 400;Annual machine-hours 1,000;Annual number of orders 90;Annual inspection-hours 30;Direct material cost;$34.78 per unit;Direct labor cost;$23.52 per unit;According to the activity-based costing system, the unit;product cost of product P58Z is closest to;a. $113.33 per unit;b. $58.30 per unit;c. $123.40 per unit;d. $118.30 per unit;Question 14;5 out of 5 points;Green;Company's costs for the month of August were as follows: direct materials;$27,000, direct labor, $34,000, selling, $14,000, administrative, $12,000, and;manufacturing overhead, $44,000. The beginning work in process inventory was;$16,000 and the ending work in process inventory was $9,000. What was the cost;of goods manufactured for the month?;a. $105,000;b. $132,000;c. $138,000;d. $112,000;Question 15;5 out of 5 points;Placek Hospital bases;its budgets on patient-visits. The hospital's static budget for October appears;below;Budgeted number of patient visits 6,800;Budgeted variable overhead costs;Supplies $2.60 per;patient visit $17,680;Laundry $5.60 per patient visit $38,080;Total variable overhead cost;$55,760;Budgeted fixed overhead costs;Wages and salaries;$21,080;Occupancy costs;$44,880;Total fixed overhead costs;$65,960;Total budgeted overhead costs $121,720;The total overhead cost at an activity level of 7,700;patient-visits per month should be;a. $129,550;b. $121,720;c. $129,100;d. $137,830;Question 16;5 out of 5 points;Carver;Company produces a product which sells for $30. Variable manufacturing costs;are $15 per unit. Fixed manufacturing costs are $5 per unit based on the;current level of activity, and fixed selling and administrative costs are $4;per unit. A selling commission of 10% of the selling price is paid on each unit;sold. The contribution margin per unit is;a. $3;b. $15;c. $8;d. $12;Question 17;0 out of 5 points;In;The following materials standards have been established for;a particular product;Standard quantity per unit of output 5.1 grams;Standard price $11.95 per;gram;The following data pertain to operations concerning the;product for the last month;Actual materials purchased 6,800 grams;Actual cost of materials purchased $86,360;Actual materials used in production 6,300 grams;Actual output;1,000;units;What is the materials quantity variance for the month?;a. $15,240 U;b. $6,350 U;c. $14,340 U;d. $5,975 U;Question 18;10 out of 10 points (Extra Credit);What is;the most important concept you have learned from this course? Will you be able;to use this in your current job or in the future. How?
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