Ac505 Midterm

953 WordsMar 21, 20124 Pages
1. (TCO A) The variable portion of advertising costs is a: (Points : 6) Conversion YES... Period NO Conversion YES .... Period YES Conversion NO.... Period YES Conversion NO.... Period NO | 2. (TCO A) Fixed costs expressed on a per unit basis: (Points : 6) will increase with increases in activity. will decrease with increases in activity. are not affected by activity. should be ignored in making decisions since they cannot change. | 3. (TCO A) Property taxes on a company's factory building would be classified as a(n): (Points : 6) sunk cost opportunity cost period cost variable cost manufacturing cost | 4. (TCO A) When…show more content…
(TCO A) The following data (in thousands of dollars) have been taken from the accounting records of Larop Corporation for the just completed year: | Sales................................................................................. | $910 | | Purchases of raw materials................................................ | $225 | | Direct labor....................................................................... | $245 | | Manufacturing overhead.................................................... | $265 | | Administrative expenses.................................................... | $150 | | Selling expenses................................................................ | $140 | | Raw materials inventory, beginning..................................... | $15 | | Raw materials inventory, ending......................................... | $45 | | Work in process inventory, beginning................................. | $20 | | Work in process inventory, ending..................................... | $55 | | Finished goods inventory, beginning................................... | $100 | | Finished goods inventory, ending....................................... | $135 | Required: Prepare a Schedule of Cost of Goods Manufactured in the text box below.(Points : 15) | 2.

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