Under absorption costing and variable costing, how are variable manufacturing costs treated? \[\begin{array} { l l l } & \text { Absorption } & \text { Variable } \\ \text { a. } & \text { Product Cost } & \text { Product Cost } \\ \text { b. } & \text { Product Cost } & \text { Period Cost } \\ \text { c. } & \text { Period Cost } & \text { Product Cost } \\ \text { d. } & \text { Period Cost } & \text { Period Cost } \end{array}\]

The answer of Under absorption costing and variable costing, how...

Under absorption costing and variable costing, how are direct labor costs treated? \[\begin{array} { l l l } & \text { Absorption } & \text { Variable } \\ \text { a. } & \text { Product Cost } & \text { Product Cost } \\ \text { b. } & \text { Product Cost } & \text { Period Cost } \\ \text { c. } & \text { Period Cost } & \text { Product Cost } \\ \text { d. } & \text { Period Cost } & \text { Period Cost } \end{array}\]

The answer of Under absorption costing and variable costing, how...

Use the following information for questions MacCloud Industries has two divisions-Standard and Premium. Each division has hundreds of different types of tennis racquets and tennis products. The following information is available: $\begin{array}{lrr}&\text { Standard Division }&\text { Premium Division }&\text { Total }\\ \text { Sales } & \$ 400,000 & \$ 600,000 &\$1,000,000\\ \text { Variable costs } & 280,000 & 360,000\\ \text { Contribution margin }&\$120,000&\$240,000\\\text { Total fixed costs }&&&\$300,000 \end{array}$ -What is the weighted-average contribution margin ratio?

A) 34% B) 35% C) 36% D) 50% A) 34% B) 35% C) 36% D) 50%

Greg's Breads can produce and sell only one of the following two products: $\begin{array}{lll}&\text { Oven } & \text { Contribution } \\ &\text { Hours Required } & \text { Margin Per Unit }\\ \text { Muffins } & 0.2 & \$ 3 \\ \text { Coffee Cakes } & 0.3 & \$ 4 \end{array}$ The company has oven capacity of 1,500 hours.How much will contribution margin be if it produces only the most profitable product?

A) $15,000 B) $20,000 C) $22,500 D) $30,000 A) $15,000 B) $20,000 C) $22,500 D) $30,000

Under absorption costing and variable costing, how are fixed manufacturing costs treated? \[\begin{array} { l l l } & \text { Absorption } & \text { Variable } \\ \text { a. } & \text { Product Cost } & \text { Product Cost } \\ \text { b. } & \text { Product Cost } & \text { Period Cost } \\ \text { c. } & \text { Period Cost } & \text { Product Cost } \\ \text { d. } & \text { Period Cost } & \text { Period Cost } \end{array}\]

The answer of Under absorption costing and variable costing, how...

Exam 6: Reporting and Analyzing Inventory

Under absorption costing and variable costing, how are variable manufacturing costs treated? Absorption Variable a. Product Cost Product Cost b. Product Cost Period Cost c. Period Cost Product Cost d. Period Cost Period Cost

(Short Answer)

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Question 81

Under absorption costing and variable costing, how are direct labor costs treated? Absorption Variable a. Product Cost Product Cost b. Product Cost Period Cost c. Period Cost Product Cost d. Period Cost Period Cost

(Short Answer)

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Question 82

Fixed selling expenses are period costs

(Multiple Choice)

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Question 83

Ramirez Corporation sells two types of computer hard drives.The sales mix is 30% (Q-Drive) and 70% (Q-Drive Plus).Q-Drive has variable costs per unit of $90 and a selling price of $150.Q-Drive Plus has variable costs per unit of $105 and a selling price of $195.The weighted-average unit contribution margin for Ramirez is

(Multiple Choice)

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Question 84

For Franklin, Inc., sales is $2,000,000, fixed expenses are $600,000, and the contribution margin ratio is 36%.What is net income?

(Multiple Choice)

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Question 85

Use the following information for questions MacCloud Industries has two divisions-Standard and Premium. Each division has hundreds of different types of tennis racquets and tennis products. The following information is available: Standard Division Premium Division Total Sales \ 400,000 \ 600,000 \1 ,000,000 Variable costs 280,000 360,000 Contribution margin \1 20,000 \2 40,000 Total fixed costs \3 00,000 -What is the weighted-average contribution margin ratio?

(Multiple Choice)

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Question 86

Greg's Breads can produce and sell only one of the following two products: Oven Contribution Hours Required Margin Per Unit Muffins 0.2 \ 3 Coffee Cakes 0.3 \ 4 The company has oven capacity of 1,500 hours.How much will contribution margin be if it produces only the most profitable product?

(Multiple Choice)

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Question 87

For the three years 2015-2017,

(Multiple Choice)

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Question 88

When units sold exceed units produced, income under absorption costing is higher than income under variable costing.

(True/False)

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Question 89

Woolford's CVP income statement included sales of 5,000 units, a selling price of $50, variable expenses of $30 per unit, and net income of $25,000.Fixed expenses are

(Multiple Choice)

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Question 90

What is the key factor in determining sales mix if a company has limited resources?

(Multiple Choice)

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Question 91

For Franklin, Inc., sales is $2,000,000, fixed expenses are $600,000, and the contribution margin ratio is 36%.What are the total variable expenses?

(Multiple Choice)

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Question 92

Some fixed manufacturing overhead costs of the current period are deferred to future periods under

(Multiple Choice)

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Question 93

Use the following information for questions Swanson Company has two divisions; Sporting Goods and Sports Gear. The sales mix is 65% for Sporting Goods and 35% for Sports Gear. Swanson incurs $6,660,000 in fixed costs. The contribution margin ratio for Sporting Goods is 30%, while for Sports Gear it is 50%. -What will be the total contribution margin at the break-even point?

(Multiple Choice)

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Question 94

Net income under variable costing is contribution margin less

(Multiple Choice)

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Question 95

Under absorption costing and variable costing, how are fixed manufacturing costs treated? Absorption Variable a. Product Cost Product Cost b. Product Cost Period Cost c. Period Cost Product Cost d. Period Cost Period Cost

(Short Answer)

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Question 96

The weighted-average contribution margin of all the products is computed when determining the break-even sales for a multi-product firm.

(True/False)

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Question 97

For Buffalo Co., at a sales level of 4,000 units, sales is $75,000, variable expenses total $50,000, and fixed expenses are $21,000.What is the contribution margin per unit?

(Multiple Choice)

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Question 98

Hinge Manufacturing's cost of goods sold is $420,000 variable and $240,000 fixed.The company's selling and administrative expenses are $300,000 variable and $360,000 fixed.If the company's sales is $1,580,000, what is its net income?

(Multiple Choice)

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Question 99

The difference between absorption costing and variable costing is the treatment of fixed manufacturing overhead.

(True/False)

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Question 100

Under absorption costing and variable costing, how are variable manufacturing costs treated? Absorption Variable a. Product Cost Product Cost b. Product Cost Period Cost c. Period Cost Product Cost d. Period Cost Period Cost

Under absorption costing and variable costing, how are direct labor costs treated? Absorption Variable a. Product Cost Product Cost b. Product Cost Period Cost c. Period Cost Product Cost d. Period Cost Period Cost

Fixed selling expenses are period costs

For Franklin, Inc., sales is $2,000,000, fixed expenses are $600,000, and the contribution margin ratio is 36%.What is net income?

Greg's Breads can produce and sell only one of the following two products: Oven Contribution Hours Required Margin Per Unit Muffins 0.2 \ 3 Coffee Cakes 0.3 \ 4 The company has oven capacity of 1,500 hours.How much will contribution margin be if it produces only the most profitable product?

For the three years 2015-2017,

When units sold exceed units produced, income under absorption costing is higher than income under variable costing.

Woolford's CVP income statement included sales of 5,000 units, a selling price of $50, variable expenses of $30 per unit, and net income of $25,000.Fixed expenses are

What is the key factor in determining sales mix if a company has limited resources?

For Franklin, Inc., sales is $2,000,000, fixed expenses are $600,000, and the contribution margin ratio is 36%.What are the total variable expenses?

Some fixed manufacturing overhead costs of the current period are deferred to future periods under

Net income under variable costing is contribution margin less

Under absorption costing and variable costing, how are fixed manufacturing costs treated? Absorption Variable a. Product Cost Product Cost b. Product Cost Period Cost c. Period Cost Product Cost d. Period Cost Period Cost

The weighted-average contribution margin of all the products is computed when determining the break-even sales for a multi-product firm.

For Buffalo Co., at a sales level of 4,000 units, sales is $75,000, variable expenses total $50,000, and fixed expenses are $21,000.What is the contribution margin per unit?

Hinge Manufacturing's cost of goods sold is $420,000 variable and $240,000 fixed.The company's selling and administrative expenses are $300,000 variable and $360,000 fixed.If the company's sales is $1,580,000, what is its net income?

The difference between absorption costing and variable costing is the treatment of fixed manufacturing overhead.

Introduction to Financial Statements

A Further Look at Financial Statements

The Accounting Information System

Accrual Accounting Concepts

Merchandising Operations and the Multiple-Step Income Statement

Fraud, Internal Control, and Cash

Reporting and Analyzing Receivables

Reporting and Analyzing Long-Lived Assets

Reporting and Analyzing Liabilities

Reporting and Analyzing Stockholders Equity

Statement of Cash Flows

Financial Analysis: the Big Picture

Managerial Accounting

Time Value of Money

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