Question1 Performance reports often compare current period performance with?
2 A company has a cost that is $2.00 per unit at a volume of 12,000 units and $2.00 per unit at a volume of 16,000 units. What type of cost is this?
3 Which of the following is a manufacturing cost?
4 An allocation base is?
5 Equivalent units are calculated by?
6 In the assembly department, all the direct materials are added at the beginning of the processing. Beginning Work in Process inventory consists of 2,000 units with a direct materials cost of $31,860. During the period, 15,000 units are started and direct materials costing $250,000 are charged to the department. If there are 1,000 units in ending inventory, what is the cost per equivalent unit?
7 The range of activity for which estimates of cost behavior are likely to be accurate is the?
8 Beaudreaux Motors is operating at its break-even point of 16,000 units. Which of the following statements is not true?
9 Which of the following is treated as a product cost in variable costing?
10 When the number of units sold is equal to the number of units produced, net income using full costing will be?
11 A major problem with cost-plus contracts is that they?
12 Which of the following steps is not involved in the ABC approach?
1 Distinguish managerial accounting from financial accounting. Include a brief discussion of the differences in the types of information provided to users as well as the differences of the users of the accounting information.
2 Pacific Airlines has three service departments; ticketing, baggage handling, and aircraft maintenance. Costs of these departments are allocated to two revenue producing departments, domestic and international flights. Costs for the service departments are not separated into fixed and variable and the totals are as follows:
3 Gina's Boutique makes custom jewelry. One item, the guru necklace, is a best seller and sales in units for the first quarter are as follows:
4 Coyote Trading uses a predetermined manufacturing overhead rate of $12 per machine hour. Last year the company had actual overhead of $898,000 and 75,000 machine hours
1 An investment of $185,575 is expected to generate returns of $65,000 per year for each of the next four years. What is the investment's internal rate of return?
2 Legal Beagals Inc. is a legal services firm that files incorporation papers for small businesses. They charge $1,000 per application. This year's income statement shows the following:
3 The following data has been taken from Air-Tite company in its first year of business.