post acc211 final exam

Question 1
5 out of 5 points
Although
depreciation is always a period cost in a merchandising firm, it can be a
product cost in a manufacturing firm.
Question 2
5 out of 5 points
Even
departmental overhead rates will not ly assign overhead costs in situations
where a company has a range of products that differ in volume, lot size, or
complexity of production.
Question 3
5 out of 5 points
An
increase in the number of units sold will decrease the break-even point.
Question 4
5 out of 5 points
Fixed
cost per unit increases as activity decreases and decreases as activity
increases.
Question 5
5 out of 5 points
The
usual starting point in budgeting is to make a forecast of cash receipts and
cash disbursements.
Question 6
5 out of 5 points
Which
of the following comparisons best isolates the impact that changes in prices of
inputs and outputs have on performance?
Question 7
5 out of 5 points
If the
actual labor hours worked exceed the standard labor hours allowed, what type of
variance will occur?
a. Favorable labor efficiency variance.
b. Favorable labor rate variance.
c. Unfavorable labor efficiency variance.
d. Unfavorable labor rate variance.
Question 8
5 out of 5 points

Which of the following performance measures will decrease if
there is an increase in the accounts receivable?

Return on Investment Residual
Income
A) Yes Yes
B) No Yes
C) Yes No
D) No No

A
B
C
D
Question 9
5 out of 5 points
Which
of the following will not result in an increase in return on investment (ROI),
assuming other factors remain the same?
a. A reduction in expenses.
b. An increase in net operating income.
c. An increase in operating assets.
d. An increase in sales.
Question 10
10 out of 10 points
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:

a. $85,000
b. $70,000
c. $45,000
d. $40,000

Question 11
10 out of 10 points

The PDQ Company makes
collections on credit sales according to the following schedule:

25% in month of sale
70% in month following sale
4% in second month following sale
1% uncollectible

The following sales have been budgeted:

Month Sales
April $100,000
May $120,000
June $110,000
Cash collections in June would be:

a. $113,400
b. $110,000
c. $111,000
d. $115,500
Question 12
5 out of 5 points
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:
a. $57.70
b. $56.30
c. $65.42
d. $57.00
Question 13
10 out of 10 points

Vodopich Corporation
has provided the following data from its activity-based costing system:

Activity Cost Pool Total
Cost Total Activity
Assembly
$698,950.00 35,000 machine-hours
Processing orders
$85,101.00 1,900 orders
Inspection
$107,440.00 1,580 inspection-hours
Data concerning the
company’s product P58Z appear below:

Annual unit production and sales 400
Annual machine-hours 1,000
Annual number of orders 90
Annual inspection-hours 30
Direct material cost
$34.78 per unit
Direct labor cost
$23.52 per unit
According to the activity-based costing system, the unit
product cost of product P58Z is closest to:

a. $113.33 per unit
b. $58.30 per unit
c. $123.40 per unit
d. $118.30 per unit

Question 14
5 out of 5 points
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?
a. $105,000
b. $132,000
c. $138,000
d. $112,000

Question 15
5 out of 5 points

Placek Hospital bases
its budgets on patient-visits. The hospital’s static budget for October appears
below:

Budgeted number of patient visits 6,800
Budgeted variable overhead costs:
Supplies $2.60 per
patient visit $17,680
Laundry $5.60 per patient visit $38,080
Total variable overhead cost
$55,760
Budgeted fixed overhead costs:
Wages and salaries
$21,080
Occupancy costs
$44,880
Total fixed overhead costs
$65,960
Total budgeted overhead costs $121,720
The total overhead cost at an activity level of 7,700
patient-visits per month should be:

a. $129,550
b. $121,720
c. $129,100
d. $137,830

Question 16
5 out of 5 points
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:

a. $3
b. $15
c. $8
d. $12
Question 17
0 out of 5 points
In
The following materials standards have been established for
a particular product:

Standard quantity per unit of output 5.1 grams
Standard price $11.95 per
gram
The following data pertain to operations concerning the
product for the last month:

Actual materials purchased 6,800 grams
Actual cost of materials purchased $86,360
Actual materials used in production 6,300 grams
Actual output

1,000
units

What is the materials quantity variance for the month?

a. $15,240 U
b. $6,350 U
c. $14,340 U
d. $5,975 U
Question 18
10 out of 10 points (Extra Credit)
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?