1.Product A requires 5 machine hours per unit to be produced, Product B requires only 3 machine hours per unit, and the company’s productive capacity is limited to 240,000 machine hours. Product A sells for $16 per unit and has variable costs of $6 per unit. Product B sells for $12 per unit and has variable costs of $5 per unit. Assuming the company can sell as many units of either product as it produces, the company should:
2.Parker Plumbing has received a special one-time order for 1,500 faucets (units) at $5 per unit. Parker currently produces and sells 7,500 units at $6.00 each. This level represents 75% of its capacity. Production costs for these units are $4.50 per unit, which includes $3.00 variable cost and $1.50 fixed cost. To produce the special order, a new machine needs to be purchased at a cost of $1,000 with a zero salvage value. Management expects no other changes in costs as a result of the additional production. Should the company accept the special order?
3.The break-even time (BET) method is a variation of the:
4.After-tax net income divided by the annual average investment in an investment, is the:
5.The following data concerns a proposed equipment purchase: Cost…………………$144,000 Salvage value…………..$4,000 Estimated useful life……. 4years Annual net cash flows……$46,100 Depreciation method……..straight-line Assuming that net cash flows are received evenly throughout the year, the accounting rate of return is:
6.The rate that yields a net present value of zero for an investment is the:
7.Select cost information for Winfrey Enterprises is as follows: For 1000 units of output Total Cost/unit Direct material $5,000 $5.00 Utilities expense $1,000 $1.00 Rent expense $4,000 $4.00 For 5,000 units of output Total Cost/unit Direct materials $25,000 $5.00 Utilities expense $3,750 $0.75 Rent expense $4,000 $0.80 Based on this information:
8.The margin of safety is the excess of:
9.Use the following information to determine the margin of safety in dollars:
Unit sales………………..50,000 units
10.Total contribution margin in dollars divided by pretax income is the:
11.Brown Company’s contribution margin ratio is 24%. Total fixed costs are $84,000. What is Brown’s break-even point in sales dollars?
12.A company manufactures and sells a product for $120 per unit. The company’s fixed costs are $68,760, and its variable costs are $90 per unit. The company’s break-even point in units is:
13.Yamaguchi Company’s break even point in units is 1,000. The sales price per unit is $10 and variable cost per unit is $7. If the company sells 2,500 units, what will net income be?
14.A firm sells two products, A and B. For every unit of A the firm sells, two units of B are sold. The firm’s total fixed costs are $1,612,000. Selling prices and cost information for both products follow: Product Unit sales price Veriable costs per Unit A… $20 $8 B… $24 $4 The contribution margin per composite unit is:
15.Wayward Enterprises manufactures and sells three distinct styles of bicycles: the Youth model sells for $300 and has a unit contribution margin of $105; the Adult model sells for $850 and has a unit contribution margin of $450; and the Recreational model sells for $1,000 and has a unit contribution margin of $500. The company’s sales mix includes: 5 Youth models; 9 Adult models; and 6 Recreational models. If the firm’s annual fixed costs total $6,500,000, calculate the firm’s break-even point in sales dollars.
16.The master budget includes:
17.A plan that lists the types and amounts of operating expenses expected that are not included in the selling expenses budget is a:
18.A plan showing the units of goods to be sold and the revenue to be derived from sales, that is the usual starting point in the budgeting process, is called the:
19.Ecology Co. sells a biodegradable product called Dissol and has predicted the following sales for the first four months of the current year:
Sales in units…. Jan.1,700; Feb.1,900; March 2,100; April1,600
Ending inventory for each month should be 20% of the next month’s sales, and the December 31 inventory is consistent with that policy. How many units should be purchased in February?
20.A quantity of merchandise or materials over the minimum needed reduce the risk of running short is called:
21.A plan that shows the expected cash inflows and cash outflows during the budget period, including receipts from loans needed to maintain a minimum cash balance and repayments of such loans, is called a(n):
22.Long-term liability data for the budgeted balance sheet is derived from:
23.The Palos Company expects sales for June, July, and August of $48,000, $54,000, and $44,000, respectively. Experience suggests that 40% of sales are for cash and 60% are on credit.
The company collects 50% of its credit sales in the month following sale, 45% in the second month following sale, and 5% are not collected. What are the company’s expected cash receipts for August from its current and past sales?
24.Which of the following budgets is part of the manufacturing budget?
25.A process of examining the differences between actual and budgeted costs and describing them in terms of the amounts that resulted from price and quantity differences is called:
26.A report based on predicted amounts of revenues and expenses corresponding to the actual level of output is called a:
27.Sales analysis is useful for:
28.Product A has a sales price of $10 per unit. Based on a 10,000-unit production level, the variable costs are $6 per unit and the fixed costs are $3 per unit. Using a flexible budget for 12,500 units, what is the budgeted operating income from Product A?
29.A job was budgeted to require 3 hours of labor per unit at $8.00 per hour. The job consisted of 8,000 units and was completed in 22,000 hours at a total labor cost of $198,000. What is the total labor cost variance?
30.A company has determined that its standard costs to produce a single unit of output is as follows: Direct material 6 pounds at $0.90 per pound=$5.40 Direct labor 0.5 hour at $12.00 per hour=$6.00 Manyfacturing overhead 0.5 hour at $4.80 per hour=$2.40 During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $56,350 based on 4,900 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15,000 and fixed manufacturing overhead incurred was $10,400. Based on this information, the direct materials quantity variance for the month was
31.The difference between the total budgeted overhead cost and the overhead applied to production using the predetermined overhead rate is the:
32. Regarding overhead costs, as volume increases:
Why Work with Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
24/7 Customer Support
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission Essays & Business Writing Help
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.