Accounting: Costs and Multiple Choice

975 Words Aug 30th, 2013 4 Pages
Accounting 2082 Managerial Accounting
Exam 1 Sample Exam Questions

Printed Name: Date:

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Instructions: Circle your answers for the multiple choice questions on the exam. Fill out the scantron sheet carefully, using a #2 pencil. Your name (last, then first) and M number must be on the scantron sheet.

Type of Question Number of Questions Points per question Suggested Time Total Points
Multiple Choice 20 questions 3 points each 50 mins. 60 points

You may not use any notes, books, cell phones, other media devices or programmable calculators while
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What amounts should be considered product and period costs respectively for the first year of coverage?

A. Option A
B. Option B
C. Option C
D. Option D

15. At an activity level of 9,200 machine-hours in a month, Nooner Corporation 's total variable production engineering cost is $761,300 and its total fixed production engineering cost is $154,008. What would be the total production engineering cost per unit, both fixed and variable, at an activity level of 9,300 machine-hours in a month?
A. $98.42
B. $99.49
C. $99.31
D. $98.96

16. Given the cost formula, Y = $9,000 + $2.50X, total cost for an activity level of 3,000 units would be:
A. $9,750
B. $12,000
C. $16,500
D. $7,500

17. Holzhauer Corporation, a merchandising company, reported the following results for March:

The contribution margin for March is:
A. $922,600
B. $1,120,000
C. $1,962,600
D. $1,360,000

18. An example of a committed fixed cost is:
A. a training program for salespersons.
B. executive travel expenses.
C. property taxes on the factory building.
D. new product research and development

19. When a decision is made among a number of alternatives, the benefit that is lost by choosing one alternative over another is the:
A. realized cost.
B. opportunity cost.
C. conversion cost.
D. accrued cost. 20. The following would typically be considered indirect costs of manufacturing a particular Boeing 747 to be delivered to Singapore Airlines:

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