- Although depreciation is always a period cost in a merchandising firm, it can be a product cost in a manufacturing firm
- Even departmental overhead rates will not correctly assign overhead costs in situations where a company has a range of products that differ in volume, lot size, or complexity of production.
- An increase in the number of units sold will decrease the break-even point.
- Fixed cost per unit increases as activity decreases and decreases as activity increases.
- The usual starting point in budgeting is to make a forecast of cash receipts and cash disbursements.
- Which of the following comparisons best isolates the impact that changes in prices of inputs and outputs have on performance?
- If the actual labor hours worked exceed the standard labor hours allowed, what type of variance will occur?
- Which of the following performance measures will decrease if there is an increase in the accounts receivable?
- Which of the following will not result in an increase in return on investment (ROI), assuming other factors remain the same?
- 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:
- The PDQ Company makes collections on credit sales according to the following schedule:
- 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:
- Vodopich Corporation has provided the following data from its activity-based costing system:
- 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?
- Placek Hospital bases its budgets on patient-visits. The hospital’s static budget for October appears below:
- 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:
- The following materials standards have been established for a particular product:
- 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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