Question Details

(Solved) QUESTION 1 Current trends in manufacturing cost structure include less direct labor and more overhead.


QUESTION 1

  1. Current trends in manufacturing cost structure include less direct labor and more overhead.

    True

    False

2 points

QUESTION 2
  1. When overhead is properly assigned in ABC, it will usually decrease the unit cost of high-volume products vs. that in in a traditional costing system

    True

    False

2 points

QUESTION 3
  1. An activity that has a direct cause-effect relationship with the resources consumed is a cost driver

    True

    False

2 points

QUESTION 4
  1. A variable cost remains constant per unit at various levels of activity

    True

    False

2 points

QUESTION 5
  1. Fixed Cost remain constant in total, but changes inversely to volume on a per unit basis

    True

    False

2 points

QUESTION 6
  1. Contribution margin is the amount of revenues remaining after deducting cost of goods sold.

    True

    False

2 points

QUESTION 7
  1. In CVP analysis, cost includes manufacturing costs but not selling and administrative expenses.

    True

    False

2 points

QUESTION 8
  1. The margin of safety tells a company how far sales can drop before it will be operating at a loss.

    True

    False

2 points

QUESTION 9
  1. If Conan Corporation sells two products with a sales mix of 75% : 25%, and the respective contribution margins are $80 and $240, then weighted-average unit contribution margin is $120

    True

    False

2 points

QUESTION 10
  1. The CVP income statement classifies costs

    a. as variable or fixed and computes contribution margin.
    b. by function and computes a contribution margin.
    c. as variable or fixed and computes gross margin.

    d. by function and computes a gross margin

2 points

QUESTION 11
  1. Buerhrle's CVP income statement included sales of 3,000 units, a selling price of $100, variable expenses of $60 per unit, and fixed expenses of $66,000. Contribution margin is

    a. $300,000

    b. $180,000

    c. $120,000

    d. $54,000

2 points

QUESTION 12
  1. Jones company has a plan for the following year as follows:

    Expected Volume 15,000

    Selling Price $80

    Variable Cost Per unit $30

    Fixed Cost $450,000

    What is the break even point in units?

    7,500
    9,000
    12,000
    15,000

2 points

QUESTION 13
  1. Jones company has a plan for the following year as follows:

    Expected Volume 15,000

    Selling Price $80

    Variable Cost Per unit $30

    Fixed Cost $450,000

    If desired profits are $100,000 how many units will need to be sold?

    18,000
    11,000
    21,000
    14,000

2 points

QUESTION 14
  1. Buerhrle's CVP income statement included sales of 3,000 units, a selling price of $100, variable expenses of $60 per unit, and fixed expenses of $66,000. Net income is

    a. $300,000.00

    b. $120,000.00

    c. $114,000.00

    d. $54,000.00

2 points

QUESTION 15
  1. Buerhrle's CVP income statement included sales of 3,000 units, a selling price of $100, variable expenses of $60 per unit, and fixed expenses of $66,000. If desired profit is $100,000 the number of units that needs to be sold is

    a. 3,500

    b. 5,150

    c. 4,150

    d. none of the above

2 points

QUESTION 16
  1. What insights did you derive after reading the article Measure Cost Right in the essential reading folder?


QUESTION 17
  1. Briefly discuss some key decisions that organizations make that rely on cost information. What are the implications of getting cost wrong?


 


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