Accounting: Costs and Multiple Choice

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.

12. If 12,500 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production? What is the total amount expressed on a per unit basis?

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

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:

Springfield Express has an opportunity to obtain a new route that would be traveled 20 times per month. The company believes it can sell seats at $ 175 on the route, but the load factor would be only 60 percent. Fixed cost would increase by $ 250,000 per month for additional personnel, additional passenger train cars, maintenance, and so on. Variable cost per passenger would remain at $ 70.

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

uses budgeted fleet hours to allocate variable manufacturing overhead. The following information pertains to the company 's manufacturing overhead data:

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?

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

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

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

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.