Question 1

Fassino Corporation reported the following data for the month of November:   The prime cost for November was:

Accepted Answer

A)  $136,000 
B)  $60,000 
C)  $105,000 
D)  $112,000 
A)  $136,000 
B)  $60,000 
C)  $105,000 
D)  $112,000

Question 2

At a sales volume of 38,000 units, Tirri Corporation's property taxes (a cost that is fixed with respect to sales volume) total $733,400.To the nearest whole dollar, what should be the total property taxes at a sales volume of 37,200 units? (Assume that this sales volume is within the relevant range.)

Accepted Answer

A)  $725,680 
B)  $733,400 
C)  $749,172 
D)  $717,960 
A)  $725,680 
B)  $733,400 
C)  $749,172 
D)  $717,960

Question 3

Salomon Marketing, Incorporated a merchandising company, reported sales of $1,555,500 and cost of goods sold of $1,025,100 for December. The company's total variable selling expense was $96,900; its total fixed selling expense was $34,300; its total variable administrative expense was $71,400; and its total fixed administrative expense was $100,100. The cost of goods sold in this company is a variable cost.The gross margin for December is:

Accepted Answer

A)  $530,400 
B)  $227,700 
C)  $362,100 
D)  $1,421,100 
A)  $530,400 
B)  $227,700 
C)  $362,100 
D)  $1,421,100

Question 4

Fiori Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its average costs per unit are as follows:   The incremental manufacturing cost that the company will incur if it increases production from 5,000 to 5,001 units is closest to:

Accepted Answer

A)  $16.20 
B)  $10.80 
C)  $13.80 
D)  $14.30 
A)  $16.20 
B)  $10.80 
C)  $13.80 
D)  $14.30

Question 5

Perteet Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its average costs per unit are as follows:   If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to:

Accepted Answer

A)  $18,100 
B)  $28,000 
C)  $21,400 
D)  $14,800 
A)  $18,100 
B)  $28,000 
C)  $21,400 
D)  $14,800

Question 6

Fasheh Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its average costs per unit are as follows:   If 10,000 units are produced, the total amount of manufacturing overhead cost is closest to:

Accepted Answer

A)  $180,500 
B)  $134,500 
C)  $157,500 
D)  $146,000 
A)  $180,500 
B)  $134,500 
C)  $157,500 
D)  $146,000

Question 7

Kesterson Corporation has provided the following information:   If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to:

Accepted Answer

A)  $16,300 
B)  $25,600 
C)  $19,400 
D)  $13,200 
A)  $16,300 
B)  $25,600 
C)  $19,400 
D)  $13,200

Question 8

Property taxes on a company's factory building would be classified as a(n):

Accepted Answer

A)  product cost. 
B)  opportunity cost. 
C)  period cost. 
D)  variable cost. 
A)  product cost. 
B)  opportunity cost. 
C)  period cost. 
D)  variable cost.

Question 9

Direct costs:

Accepted Answer

A)  are incurred to benefit a particular accounting period. 
B)  are incurred due to a specific decision. 
C)  can be easily traced to a particular cost object. 
D)  are the variable costs of producing a product. 
A)  are incurred to benefit a particular accounting period. 
B)  are incurred due to a specific decision. 
C)  can be easily traced to a particular cost object. 
D)  are the variable costs of producing a product.

Question 10

Schonhardt Corporation's relevant range of activity is 2,000 units to 6,000 units. When it produces and sells 4,000 units, its average costs per unit are as follows:   If 5,000 units are produced, the total amount of fixed manufacturing cost incurred is closest to:

Accepted Answer

A)  $16,800 
B)  $14,000 
C)  $12,600 
D)  $11,200 
A)  $16,800 
B)  $14,000 
C)  $12,600 
D)  $11,200

Question 11

The University Store, Incorporated is the major bookseller for four nearby colleges. An income statement for the first quarter of the year is presented below:   On average, a book sells for $40.00. Variable selling expenses are $3.00 per book; the remaining selling expenses are fixed. The variable administrative expenses are 5% of sales; the remainder of the administrative expenses are fixed.The net operating income computed using the contribution approach for the first quarter is:

Accepted Answer

A)  $30,000 
B)  $180,000 
C)  $140,000 
D)  $0 
A)  $30,000 
B)  $180,000 
C)  $140,000 
D)  $0

Question 12

Which of the following is correct concerning reactions to INCREASES in activity?

Accepted Answer

A)  Choice A 
B)  Choice B 
C)  Choice C 
D)  Choice D 
A)  Choice A 
B)  Choice B 
C)  Choice C 
D)  Choice D

Question 13

Shelp Corporation has provided the following information:   For financial reporting purposes, the total amount of period costs incurred to sell 9,000 units is closest to:

Accepted Answer

A)  $33,000 
B)  $9,000 
C)  $40,500 
D)  $49,500 
A)  $33,000 
B)  $9,000 
C)  $40,500 
D)  $49,500

Question 14

A partial listing of costs incurred during March at Febbo Corporation appears below:   The total of the product costs listed above for March is:

Accepted Answer

A)  $516,000 
B)  $68,000 
C)  $293,000 
D)  $223,000 
A)  $516,000 
B)  $68,000 
C)  $293,000 
D)  $223,000

Question 15

For an automobile manufacturer, the cost of a driver's side air bag purchased from a supplier and installed in every automobile would best be described as a:

Accepted Answer

A)  fixed cost. 
B)  mixed cost. 
C)  step-variable cost. 
D)  variable cost. 
A)  fixed cost. 
B)  mixed cost. 
C)  step-variable cost. 
D)  variable cost.

Question 16

Kogler Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its average costs per unit are as follows:   If the selling price is $29.00 per unit, the contribution margin per unit sold is closest to:

Accepted Answer

A)  $15.80 
B)  ($0.80) 
C)  $5.75 
D)  $18.10 
A)  $15.80 
B)  ($0.80) 
C)  $5.75 
D)  $18.10

Question 17

Glew Corporation has provided the following information:   For financial reporting purposes, the total amount of period costs incurred to sell 4,000 units is closest to:

Accepted Answer

A)  $6,400 
B)  $9,600 
C)  $4,000 
D)  $5,600 
A)  $6,400 
B)  $9,600 
C)  $4,000 
D)  $5,600

Question 18

Differential costs can:

Accepted Answer

A)  only be fixed costs. 
B)  only be variable costs. 
C)  be either fixed or variable. 
D)  be sunk costs. 
A)  only be fixed costs. 
B)  only be variable costs. 
C)  be either fixed or variable. 
D)  be sunk costs.

Question 19

Kneeland Corporation has provided the following information:   If 10,000 units are produced, the total amount of manufacturing overhead cost is closest to:

Accepted Answer

A)  $186,000 
B)  $138,000 
C)  $162,000 
D)  $150,000 
A)  $186,000 
B)  $138,000 
C)  $162,000 
D)  $150,000

Question 20

Asplund Corporation has provided the following information:
   Required:a. For financial reporting purposes, what is the total amount of product costs incurred to make 5,000 units?b. For financial reporting purposes, what is the total amount of period costs incurred to sell 5,000 units?

Accepted Answer

The answer of Asplund Corporation has provided the following information:
...

Fassino Corporation reported the following data for the month of November: The prime cost for November was:

Fiori Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its average costs per unit are as follows: The incremental manufacturing cost that the company will incur if it increases production from 5,000 to 5,001 units is closest to:

Perteet Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its average costs per unit are as follows: If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to:

Fasheh Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its average costs per unit are as follows: If 10,000 units are produced, the total amount of manufacturing overhead cost is closest to:

Kesterson Corporation has provided the following information: If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to:

Property taxes on a company's factory building would be classified as a(n):

Direct costs:

Schonhardt Corporation's relevant range of activity is 2,000 units to 6,000 units. When it produces and sells 4,000 units, its average costs per unit are as follows: If 5,000 units are produced, the total amount of fixed manufacturing cost incurred is closest to:

Which of the following is correct concerning reactions to INCREASES in activity?

Shelp Corporation has provided the following information: For financial reporting purposes, the total amount of period costs incurred to sell 9,000 units is closest to:

A partial listing of costs incurred during March at Febbo Corporation appears below: The total of the product costs listed above for March is:

For an automobile manufacturer, the cost of a driver's side air bag purchased from a supplier and installed in every automobile would best be described as a:

Kogler Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its average costs per unit are as follows: If the selling price is $29.00 per unit, the contribution margin per unit sold is closest to:

Glew Corporation has provided the following information: For financial reporting purposes, the total amount of period costs incurred to sell 4,000 units is closest to:

Differential costs can:

Kneeland Corporation has provided the following information: If 10,000 units are produced, the total amount of manufacturing overhead cost is closest to:

Asplund Corporation has provided the following information: Required:a. For financial reporting purposes, what is the total amount of product costs incurred to make 5,000 units?b. For financial reporting purposes, what is the total amount of period costs incurred to sell 5,000 units?

Job-Order Costing: Calculating Unit Product Costs

Job-Order Costing: Cost Flows and External Reporting

Process Costing

Cost-Volume-Profit Relationships

Variable Costing and Segment Reporting: Tools for Management

Activity-Based Costing: a Tool to Aid Decision Making

Master Budgeting

Flexible Budgets and Performance Analysis

Standard Costs and Variances

Responsibility Accounting Systems

Strategic Performance Measurement

Differential Analysis: the Key to Decision Making

Capital Budgeting Decisions

Statement of Cash Flows

Financial Statement Analysis

Filters

Exam 1: Managerial Accounting and Cost Concepts

Fassino Corporation reported the following data for the month of November: The prime cost for November was:

Fiori Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its average costs per unit are as follows: The incremental manufacturing cost that the company will incur if it increases production from 5,000 to 5,001 units is closest to:

Perteet Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its average costs per unit are as follows: If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to:

Fasheh Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its average costs per unit are as follows: If 10,000 units are produced, the total amount of manufacturing overhead cost is closest to:

Kesterson Corporation has provided the following information: If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to:

Property taxes on a company's factory building would be classified as a(n):

Direct costs:

Schonhardt Corporation's relevant range of activity is 2,000 units to 6,000 units. When it produces and sells 4,000 units, its average costs per unit are as follows: If 5,000 units are produced, the total amount of fixed manufacturing cost incurred is closest to:

Which of the following is correct concerning reactions to INCREASES in activity?

Shelp Corporation has provided the following information: For financial reporting purposes, the total amount of period costs incurred to sell 9,000 units is closest to:

A partial listing of costs incurred during March at Febbo Corporation appears below: The total of the product costs listed above for March is:

For an automobile manufacturer, the cost of a driver's side air bag purchased from a supplier and installed in every automobile would best be described as a:

Kogler Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its average costs per unit are as follows: If the selling price is $29.00 per unit, the contribution margin per unit sold is closest to:

Glew Corporation has provided the following information: For financial reporting purposes, the total amount of period costs incurred to sell 4,000 units is closest to:

Differential costs can:

Kneeland Corporation has provided the following information: If 10,000 units are produced, the total amount of manufacturing overhead cost is closest to:

Asplund Corporation has provided the following information: Required:a. For financial reporting purposes, what is the total amount of product costs incurred to make 5,000 units?b. For financial reporting purposes, what is the total amount of period costs incurred to sell 5,000 units?

Job-Order Costing: Calculating Unit Product Costs

Job-Order Costing: Cost Flows and External Reporting

Process Costing

Cost-Volume-Profit Relationships

Variable Costing and Segment Reporting: Tools for Management

Activity-Based Costing: a Tool to Aid Decision Making

Master Budgeting

Flexible Budgets and Performance Analysis

Standard Costs and Variances

Responsibility Accounting Systems

Strategic Performance Measurement

Differential Analysis: the Key to Decision Making

Capital Budgeting Decisions

Statement of Cash Flows

Financial Statement Analysis

Filters