Reference no: EM13745079
A company has sales of $100,000, ending finished goods inventory of $9,000 variable manufacturing costs of $50,000 and fixed manufacturing costs of $28,000 for the year. Assuming the company uses direct costing, the manufacturing margin for the year is:
(A) 22,000
(B) 31,000
(C) 59,000
(D) 13,000
A segment of a business reported a contribution margin of $36,000 and controllable fixed costs of $12,000. If the segment had been eliminated the company-wide net income would gave been:
(A) 12,000 higher
(B) 24,000 lower
(C) 36,000 lower
(D) 24,000 higher
If a decision must be made to close a warehouse non-refundable prepaid rent on the warehouse is a (n) ----- cost.
(A) opportunity
(B) common
(C) sunk
(D) variable
When the balance in ending finished goods inventory increases, net income under absorption costing is:
(A) lower than under direct costing
(B) higher than under direct costing
(C) the same under direct costing
(D) unaffected by the increase
Which of the following costs amounts can be found in a firm's accounting records?
(A) opportunity costs
(B) differential costs
(C) incremental costs
(D) sunk costs
Which of the following is not true of the direct costing procedure?
(A) variable and fixed costs are considered as part of the cost of goods manufactured
(B) the cost of goods sold based solely on variable costs, is subtracted from net sales to arrive at the manufacturing margin
(C) variable selling expenses are deducted from the manufacturing margin
(D) variable administrative expenses are deducted from the manufacturing margin
How revolutionary was the reagan revolution
: How revolutionary was the Reagan Revolution and how was it revolutionary? Consider the following topics and look at one or two in detail.
|
Firm uses absorption costing
: Data for a firm's first year of operation is given below. The firm uses absorption costing.
|
Sarbanes-oxley act of 2002
: Because this is your first week as vice president (VP) of finance at Apix, several members of the top management team have stopped by your office. Timothy Russell, chair of the audit committee, comes in first to talk with you about the Sarbanes-Ox..
|
Determine the partial pressure of nitrogen in the air
: You begin your expedition at the mouth of the Brisbane River at sea level (barometric pressure = 760 mmHg). The temperature is 20oC and the relative humidity is 78%. What is the partial pressure of nitrogen in the air
|
Costs amounts can be found in a firms accounting records
: If a decision must be made to close a warehouse non-refundable prepaid rent on the warehouse is a (n) ----- cost. When the balance in ending finished goods inventory increases, net income under absorption costing is: Which of the following costs amou..
|
List the dollar amount of debt disney proposed to sell
: List the dollar amount of debt Disney proposed to sell to the public. Indicate whether this amount has increased or decreased from 2008 to 2010. Discuss some potential causes of this increase or decrease.
|
What is offshoring
: You will research and find an example of a firm that is going through the transformational change of offshoring much of its production activities.
|
Plan to manufacture engine blocks for classic cars
: The managers of PonchoParts, Inc. plan to manufacture engine blocks for classic cars from the 1960s era. They expect to sell 250 blocks annually for the next five years. The necessary foundry and machining equipment will cost a total of $800,000 and ..
|
Fixed manufacturing costs are written off as current expense
: Fixed manufacturing costs are written off as current expenses of the period in which they occurred when using -------- costing. When inventory costing system is NOT acceptable for financial reporting purposes? Which of the following would Not be rele..
|