Quiz
Managerial Accounting - Midterm exam
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Questions in this quiz (20)
11- Manufacturing overhead consists of:
- Aall manufacturing costs.
- Bindirect materials but not indirect labor.
- Call manufacturing costs, except direct materials and direct labor.
- Dindirect labor but not indirect materials
22- In describing the cost formula equation Y = a + bX, which of the following statements is correct?
- Ain the high-low method, "b" equals change in activity divided by change in costs.
- BAs "X" increases "Y" decreases.
- C"a" is the fixed component.
- D"X" is the dependent variable.
33- Amman Company produces a single product. Last year, the company had a net operating income of $80,000 using absorption costing and $74,500 using variable costing. The fixed manufacturing overhead cost was $5 per unit. There were no beginning inventories. If 21,500 units were produced last year, then sales last year were:
- A22,600 units
- B27,000 units
- C20,400 units
- D16,000 units
4
4- Johnson Company operates two plants, Plant A and Plant B. Last year, Johnson Company reported a contribution margin of $40,000 for Plant A. Plant B had sales of $200,000 and a contribution margin ratio of 40%. Net operating income for the company was $27,000 and traceable fixed expenses for the two stores totaled $50,000. Johnson Company's common fixed expenses were- A43000gh
- B43000
- C53000
- D55000
55- One of the following is NOT a management Functions in Managerial Accounting
- APlanning.
- BDirecting.
- CStaffing
- DControlling
6Direct labor cost is a part of :
Conversion cost Prime cost
A) No No
B) No Yes
C) Yes Yes
D) Yes No- AA
- BB
- CC
- DD
77- The following costs were incurred in January:
Direct materials .............................$39,000
Direct labor ....................................$26,000
Manufacturing overhead ...............$21,000
Selling expenses .............................$14,000
Administrative expenses ................$27,000
Calcuate the Prime costs:- A$86,000
- B$65,000
- C$47,000
- D$127,000
8During the month of February, direct labor cost totaled $13,000 and direct labor cost
was 40% of prime cost. If total manufacturing costs during February were $80,000,
the manufacturing overhead was:- A$32,500
- B$19,500
- C$67,000
- D$47,500
9At an activity level of 5,000 units in a month, Red Corporation’s total variable maintenance and repair cost is $400,000 and its total fixed maintenance and repair cost is $200,250. Assume that this level of activity is within the relevant range, what would be the total maintenance and repair cost, both fixed and variable, at an activity level of 7,000 units in a month?
- A$760,250
- B$860,000
- C$250,000
- Dnone of the answers is correct
10If sales were $1,500,000, variable expenses $700,000, fixed expenses $320,000 and net operating income $80,000 and sales increased by 8%.
Using the operating leverage, net operating income should increase by?- A%80
- B%60
- C%85
- D%74
11 Which of the following is the correct formula to compute the predetermined overhead rate?
- AEstimated total units in the allocation base divided by estimated total manufacturing overhead costs.
- BEstimated total manufacturing overhead costs divided by estimated total units in the allocation base.
- CActual total manufacturing overhead costs divided by estimated total units in the allocation base.
- DEstimated total manufacturing overhead costs divided by actual total units in the allocation base.
12A company produces a single product. Last year, fixed manufacturing overhead was $30,000, variable production costs were $48,000, fixed selling and administration costs were $20,000, and variable selling administrative expenses were $9,600. There was no beginning inventory. During the year, 3,000 units were produced and 2,400 units were sold at a price of $40 per unit. Under variable costing, net operating income would be:
- Aprofit of $6,000
- Bprofit of $4,000
- Closs of $4,400
- Dloss of $2,000
13King Company produces a single product. During March, the company had net operating income under absorption costing that was $3,500 lower than under variable costing. The company sold 7,000 units in March, and its variable costs were $7 per unit, of which $3 was variable selling expense. If fixed manufacturing overhead was $2 per unit under absorption costing, then how many units did the company produce during March?
- A5250
- B5500
- C3600
- D5200
14. Conversion cost does not include
- Adirect material.
- Bfactory depreciation.
- Csupervisors' salaries.
- Ddirect labor.
15Gore Corporation has two divisions: the Business Products Division and the Export Products
Division. The Business Products Division's divisional segment margin is $55,700 and the Export
Products Division's divisional segment margin is $70,600. The total amount of common fixed
expenses not traceable to the individual divisions is $107,400. What is the company's net
operating income?- A$233,700
- B$(126,300)
- C$126,300
- D$18,900
16a partial listing of costs incurred during December at Gagnier Corporation appears below:
Factory supplies......................................... $8,000
Administrative wages and salaries............ $105,000
Direct Materials....................................... $153,000
Sales staff salaries................................... $68,000
Factory depreciation............................... $49,000
Corporate headquarters building rent..... $34,000
Indirect labor.......................................... $32,000
Marketing............................................... $103,000
Direct labor............................................ $83,000
The total of the manufacturing overhead costs listed above for December is:- A89,000
- B91,000
- C57,000
- D45,000
17Selling price: $75 per unit
Variable exp: $45 per unit
CM: $30 per unit
Fixed expenses are $75,000 per month and the company is selling 3,000 units per month
The marketing manager believes that an $8,000 increase in the monthly advertising budget would increase monthly sales by $15,000. Calculate the increase or decrease in net operating income.- Adecreases by $2,000
- Bincreases by $2,000
- Cdecreases by $3,000
- Dincreases by $3,000
18Liman Corporation has a single product whose selling price is $140 and whose variable expense is $60 per unit. The company's monthly fixed expense is $40,000.
Determine the unit sales that are required to earn a target profit of $,6000.- A600 units
- B575 units
- C375 units
- Dnone of the answers is correct
19sales: $30,000
variable expenses: $23,400
fixed expenses: $6,800
net operating loss: ($200)
calculate the break even point in sales dollars- A$40,900
- B$33,909
- C$30,909
- D$30,000
20Sales salaries and commissions are $10,000 when 80,000 units are sold, and $14,000 when 120,000 units are sold. Using the high-low method, what is the variable portion of sales salaries and commission?
- A$10
- B$0.10
- C$0.90
- D$9
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- امتحان تجريبي لمادة المحاسبة الادارية يتكون الامتحان من 20 سؤال اختيار من متعدد Done by: Layth Rabyaa & Yazan Melhim
- Author
- Layth A. Al-Rabayaa
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- English
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