Accounting: Costs and Multiple Choice

2.) For each expense that is variable with respect to revenue hours, calculate the cost per revenue hour.

1. For financial accounting purposes, what is the total amount of product costs incurred to make 10,000 units?

Please answer all questions in this exam. Answers to the multiple choice questions need to be filled in on the scantron sheets (remember to use pencil to fill in the circles) and also circled on the exam itself. Answers to the short answer questions should go in the exam booklet provided. All three components (scantron sheets, exam booklets, paper copy of exam) should be turned in at the conclusion of the exam.

If necessary, use the back of the exam pages for the rest of your answers. Do not use other sheets of paper. Please write legibly; if I cannot read your answer, I will count it wrong.

16. The existence of both economies of scale and diseconomies of scale would have what effect on the LRAC curve?

The standard costs and variances for direct materials, direct labor, and factory overhead for the month of May are as follows:

There are one hundred questions on this exam which makes up forty-five percent of your overall grade. I would suggest that you also write your answers on your exam in addition to your Scantron as you will be allowed to keep the

Tax rates other than the current tax rate may be used to calculate the deferred income tax amount on the balance sheet if

120 multiple choice questions in 3 hours and enter your answers using the Scantron sheet that had been provided to you. You will get 1 point for every correct answer. You will lose 0.25 points for every incorrect answer or for making multiple answers to a question. You will not get or lose any points for leaving a question blank.

2. What is the total cost? How much of the total cost are labor costs? Capital costs?

3) Using the budget Data, what was the total expected cost per unit if all manufacturing and shipping overhead (both variable and fixed) were allocate to planned production? What was the actual cost per unit of production and shipping?

Would factory security and assembly activities be best classified at an appliance manufacturing plant as unit-level, batch-level, product-level, or organization-sustaining?

On 1 July 2011, Kookaburra Ltd acquired an item of plant at a cost of $200 000. The plant has an

Feedback: Management accounting is the preparation and use of accounting information systems to achieve the organization's objectives by supporting decision makers inside the enterprise. LO 4

Variable Cost per Unit = ( $59,000 − $38,000 ) ÷ ( 3,000 − 1,250 ) = $12 per unit