Exam 1: Managerial Accounting and Cost Concepts

Glew Corporation has provided the following information: -If 3,000 units are produced,the total amount of direct manufacturing cost incurred is closest to:

The following cost data pertain to the operations of Quinonez Department Stores, Inc., for the month of September. The Northridge Store is just one of many stores owned and operated by the company. The Cosmetics Department is one of many departments at the Northridge Store. The central warehouse serves all of the company's stores. -What is the total amount of the costs listed above that are direct costs of the Cosmetics Department?

In a traditional format income statement,the gross margin minus selling and administrative expenses equals net operating income.

Product costs that have become expenses can be found in:

Bolka Corporation, a merchandising company, reported the following results for October: -The gross margin for October is:

Lagle Corporation has provided the following information: -If 5,000 units are sold,the variable cost per unit sold is closest to:

Bowering Corporation has provided the following information: -For financial reporting purposes,the total amount of product costs incurred to make 9,000 units is closest to:

Committed fixed costs represent organizational investments with a one-year planning horizon.

Comparative income statements for Boggs Sports Equipment Company for the last two months are presented below: All of the company's costs are either fixed,variable,or a mixture of the two (i.e.,mixed).Assume that the relevant range includes all of the activity levels mentioned in this problem. Which of the selling and administrative expenses of the company is variable?

A cost incurred in the past that is not relevant to any current decision is classified as a(n):

One full-time clerical worker is needed for every 750 accounts receivable.The total wages of the accounts receivable clerks is an example of a:

Within the relevant range,a difference between variable costs and fixed costs is:

Depreciation is always considered a period cost for external financial reporting purposes in a manufacturing company.

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 $25.00 per unit,the contribution margin per unit sold is closest to:

Which of the following production costs,if expressed on a per unit basis,would be most likely to change significantly as the production level varies?

A partial listing of costs incurred at Archut Corporation during September appears below: -The total of the period costs listed above for September is:

Lagle 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:

Fixed costs expressed on a per unit basis do not change with changes in activity.

What would be the average fixed cost per unit at an activity level of 5,200 units? Assume that this level of activity is within the relevant range.