# Accounting: Costs and Multiple Choice

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

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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
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: