Rom Generators is in the process of preparing a production cost budget for August.Actual costs in July for the production of 60 generators were: $\begin{array}{lr} \text { Materials cost } & 5,200 \\ \text { Labor cost } & 2,600 \\ \text { Rent } & 1,200 \\ \text { Depreciation } & 1,700 \\ \text { Other fixed costs } & 4,600\\ \text { Total }&\$15,300 \end{array}$ Materials and labor are the only variable costs.If production and sales are budgeted to increase to 70 generators in August, how much is the expected total variable cost on the August budget?

A) $17,850 B) $16,600 C) $9,100 D) $15,300 A) $17,850 B) $16,600 C) $9,100 D) $15,300

Hurricane Wings has budgeted the following costs for a month in which 24,000 wings will be cooked and sold. \[\begin{array}{l} \text { Wings, breading, and }\\ \begin{array} { l r } \text { sauce } & \$ 4,900 \\ \text { Direct labor (Variable) } & 3,500 \\ \text { Rent } & 1,100 \\ \text { Depreciation } & 900 \\ \text { Other fixed costs } & 400 \end{array} \end{array}\] Each wing sells for $0.80 each.What is the budgeted fixed cost per unit?

A) $0.35 B) $0.80 C) $0.10 D) $0.17 A) $0.35 B) $0.80 C) $0.10 D) $0.17

Hurricane Wings has budgeted the following costs for a month in which 24,000 wings will be cooked and sold. \[\begin{array}{l} \text { Wings, breading, and }\\ \begin{array} { l r } \text { sauce } & \$ 4,900 \\ \text { Direct labor (Variable) } & 3,500 \\ \text { Rent } & 1,100 \\ \text { Depreciation } & 900 \\ \text { Other fixed costs } & 400 \end{array} \end{array}\] Each wing sells for $0.80 each.What is the budgeted total fixed cost?

A) $7,300 B) $2,400 C) $8,400 D) $10,800 A) $7,300 B) $2,400 C) $8,400 D) $10,800

Hurricane Wings has budgeted the following costs for a month in which 24,000 wings will be cooked and sold. \[\begin{array}{l} \text { Wings, breading, and }\\ \begin{array} { l r } \text { sauce } & \$ 4,900 \\ \text { Direct labor (Variable) } & 3,500 \\ \text { Rent } & 1,100 \\ \text { Depreciation } & 900 \\ \text { Other fixed costs } & 400 \end{array} \end{array}\] Each wing sells for $0.80 each.What is Hurricane Wings' budgeted profit?

A) $8,400 B) $19,200 C) $10,800 D) $13,200 A) $8,400 B) $19,200 C) $10,800 D) $13,200

Exam 1: Managerial Accounting in the Information Age

Rincon Gifts had the following costs in May when 400 ceramic pots were produced: materials, $4,200; labor cost, $1,600; depreciation, $800; rent, $700; and other fixed costs, $500.Which one of the following is the correct cost for Rincon?

(Multiple Choice)

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Question 61

Which of the following terms involves calculating the difference in revenue and the difference in cost between decision alternatives?

(Multiple Choice)

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Question 62

Managerial accounting is directed at internal users of accounting information.

(True/False)

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Question 63

Since a manager can influence noncontrollable costs, they should be considered when evaluating a manager's performance.

(True/False)

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Question 64

In most organizations, the controller is the top managerial accountant.

(True/False)

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Question 65

Rom Generators is in the process of preparing a production cost budget for August.Actual costs in July for the production of 60 generators were: Materials cost 5,200 Labor cost 2,600 Rent 1,200 Depreciation 1,700 Other fixed costs 4,600 Total \1 5,300 Materials and labor are the only variable costs.If production and sales are budgeted to increase to 70 generators in August, how much is the expected total variable cost on the August budget?

(Multiple Choice)

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Question 66

Vita Boost Pets produces a line of cat food.In August, it produced and sold 1,000 bags of food.Total fixed costs were $19,000.In September, it produced 2,000 bags of food.Which of the following statements is true for September?

(Multiple Choice)

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Question 67

Hurricane Wings has budgeted the following costs for a month in which 24,000 wings will be cooked and sold. Wings, breading, and sauce \ 4,900 Direct labor (Variable) 3,500 Rent 1,100 Depreciation 900 Other fixed costs 400 Each wing sells for $0.80 each.What is the budgeted fixed cost per unit?

(Multiple Choice)

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Question 68

The organization which administers the Certificate in Management Accounting program is the

(Multiple Choice)

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Question 69

Hanover Binding plans to produce 40,000 books next year at a total cost of $1,640,000 with a selling price per book of $66.00.The fixed costs total $280,000.Management is considering lowering the price to $60.00 per book, and feels that this action will cause sales to climb to 50,000 books.What is the amount of incremental profit if 50,000 books are sold?

(Multiple Choice)

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Question 70

The fundamental difference between managerial and financial accounting is that

(Multiple Choice)

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Question 71

Hurricane Wings has budgeted the following costs for a month in which 24,000 wings will be cooked and sold. Wings, breading, and sauce \ 4,900 Direct labor (Variable) 3,500 Rent 1,100 Depreciation 900 Other fixed costs 400 Each wing sells for $0.80 each.What is the budgeted total fixed cost?

(Multiple Choice)

4.8/5

(36)

Question 72

A good single measure of performance for a sales force would be the ratio of sales to new customers to total sales.

(True/False)

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Question 73

Leah Berry is entering her senior year as an accounting major and has a number of options for her summer break.Her options for the 3-month break follow: (1) Work full time at a local accounting firm making $3,200 per month. (2) Take a summer class which will cost $600 and work half time making $1,600 per month. (3) Take two classes at a cost of $1,200 and not work at all during the summer. Leah's incremental revenue if she chooses option 1 over option 2 would be

(Multiple Choice)

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Question 74

Hurricane Wings has budgeted the following costs for a month in which 24,000 wings will be cooked and sold. Wings, breading, and sauce \ 4,900 Direct labor (Variable) 3,500 Rent 1,100 Depreciation 900 Other fixed costs 400 Each wing sells for $0.80 each.What is Hurricane Wings' budgeted profit?

(Multiple Choice)

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Question 75

A cost which is directly traceable to a product, activity, or department is a(n)

(Multiple Choice)

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Question 76

The treasurer usually reports to the controller.

(True/False)

4.7/5

(30)

Question 77

Hanover Binding plans to produce 40,000 books next year at a total cost of $1,640,000 with a selling price per book of $66.00.The fixed costs total $280,000.Management is considering lowering the price to $60.00 per book, and feels that this action will cause sales to climb to 50,000 books.What will be the incremental costs incurred if 50,000 books are sold?

(Multiple Choice)

4.8/5

(41)

Question 78

One aspect of the value chain involves information flows between a company and its customers.

(True/False)

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(30)

Question 79

ProLight plans to sell 1,600 white lights that enhance indoor plant growth next year with total budgeted sales of $48,000 and estimated profit of $8,000.Variable costs are projected to be $17.50 per unit.Customer A offers to pay $10,000 to buy 400 lights from ProLight.Total fixed costs are $12,000 per year.This offer does not affect ProLight's other planned operations.How much is the incremental revenue associated with the offer from Customer A?

(Multiple Choice)

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Question 80

Showing 61 - 80 of 140

Rincon Gifts had the following costs in May when 400 ceramic pots were produced: materials, $4,200; labor cost, $1,600; depreciation, $800; rent, $700; and other fixed costs, $500.Which one of the following is the correct cost for Rincon?

Which of the following terms involves calculating the difference in revenue and the difference in cost between decision alternatives?

Managerial accounting is directed at internal users of accounting information.

Since a manager can influence noncontrollable costs, they should be considered when evaluating a manager's performance.

In most organizations, the controller is the top managerial accountant.

Vita Boost Pets produces a line of cat food.In August, it produced and sold 1,000 bags of food.Total fixed costs were $19,000.In September, it produced 2,000 bags of food.Which of the following statements is true for September?

Hurricane Wings has budgeted the following costs for a month in which 24,000 wings will be cooked and sold. Wings, breading, and sauce \ 4,900 Direct labor (Variable) 3,500 Rent 1,100 Depreciation 900 Other fixed costs 400 Each wing sells for $0.80 each.What is the budgeted fixed cost per unit?

The organization which administers the Certificate in Management Accounting program is the

The fundamental difference between managerial and financial accounting is that

Hurricane Wings has budgeted the following costs for a month in which 24,000 wings will be cooked and sold. Wings, breading, and sauce \ 4,900 Direct labor (Variable) 3,500 Rent 1,100 Depreciation 900 Other fixed costs 400 Each wing sells for $0.80 each.What is the budgeted total fixed cost?

A good single measure of performance for a sales force would be the ratio of sales to new customers to total sales.

Hurricane Wings has budgeted the following costs for a month in which 24,000 wings will be cooked and sold. Wings, breading, and sauce \ 4,900 Direct labor (Variable) 3,500 Rent 1,100 Depreciation 900 Other fixed costs 400 Each wing sells for $0.80 each.What is Hurricane Wings' budgeted profit?

A cost which is directly traceable to a product, activity, or department is a(n)

The treasurer usually reports to the controller.

One aspect of the value chain involves information flows between a company and its customers.

Job-Order Costing for Manufacturing and Service Companies

Process Costing

Cost-Volume-Profit Analysis

Variable Costing

Cost Allocation and Activity-Based Costing

The Use of Cost Information in Management Decision Making

Pricing Decisions

Capital Budgeting Decisions

Budgetary Planning and Control

Standard Costs and Variance Analysis

Decentralization and Performance Evaluation

Statement of Cash Flows

Analyzing Financial Statements: a Managerial Perspective

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