accounting quiz

TB MC Qu. 03-89 Closser Corporation produces and sells two...

Closser Corporation produces and sells two products. In the most recent month, Product M50S had sales of $36,000 and variable expenses of $11,280. Product H50G had sales of $49,000 and variable expenses of $17,620. The fixed expenses of the entire company were $46,110. The break-even point for the entire company is closest to: (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.)

 

$69,864

$46,110

$75,010

$69,824

 6.

 

 

 

TB MC Qu. 04-87 Acton Corporation, which applies manufacturing...

Acton Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations.  

Estimated manufacturing overhead	$80,080
Estimated machine-hours	1,100
Actual manufacturing overhead	$76,800
Actual machine-hours	1,060

The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year. The applied manufacturing overhead for the year is closest to:

$77,168

$75,807

$76,450

$75,089

 7.

 

 

 

TB MC Qu. 02-88 Gambino Corporation is...

Gambino Corporation is a wholesaler that sells a single product. Management has provided the following cost data for two levels of monthly sales volume. The company sells the product for $168.60 per unit.

 

Sales volume (units)		7,700		8,700
Cost of sales	$	599,060	$	676,860
Selling and administrative costs	$	431,900	$	444,400

The best estimate of the total monthly fixed cost is:

$335,650

$1,121,260

$1,076,110

$1,030,960

TB Problem 4-130 Job 397 was recently completed. The....

Job 397 was recently completed. The following data have been recorded on its job cost sheet:

 

Direct materials	$	46,000
Direct labor-hours		690	DLHs
Direct labor wage rate	$	12	per DLH
Number of units completed		3,500	units

 

The company applies manufacturing overhead on the basis of direct labor-hours. The predetermined overhead rate is $10 per direct labor-hour.

 

Required:

Compute the unit product cost that would appear on the job cost sheet for this job. (Round your answer to 2 decimal places.)

 

 9.

 

 

 

TB MC Qu. 03-111 A manufacturer of cedar shingles...

A manufacturer of cedar shingles has supplied the following data:  

Bundles of cedar shakes produced and sold		272,000
Sales revenue	$	2,203,200
Variable manufacturing expense	$	985,200
Fixed manufacturing expense	$	497,000
Variable selling and administrative expense	$	262,500
Fixed selling and administrative expense	$	286,000
Net operating income	$	172,500

 

The company's contribution margin ratio is closest to: (Do not round intermediate calculations. Round your answer to whole percentage.)

57%

35%

43%

65%

10.

 

 

 

TB MC Qu. 03-52 Dybala Corporation produces and sells...

Dybala Corporation produces and sells a single product. Data concerning that product appear below:  

	Per Unit		Percent of Sales
Selling price	$	120				100	%
Variable expenses		84				70	%
Contribution margin		36				30	%

The company is currently selling 6,500 units per month. Fixed expenses are $190,000 per month. The marketing manager believes that a $6,400 increase in the monthly advertising budget would result in a 210 unit increase in monthly sales. What should be the overall effect on the company's monthly net operating income of this change?

rev: 08_18_2016_QC_CS-57562

increase of $1,160

increase of $7,560

decrease of $6,400

decrease of $1,160