Econ 139 - Final Review Session

Econ 139 - Final Review Session - Final REVIEW SESSION...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Final REVIEW SESSION Friday, March 14, 2008 7:02 PM 100 points 50 questions 20 theory 30 problem   Flexible budget Ch.11 (3 questions)   I. Pre Mid-Term (theory) a. When will you use following cost systems: i. Job Order Costing ii. Process Costing iii. Activity-Based Costing b. Fixed Cost and Variable Cost c. Managerial Accounting vs. Financial Accounting d. Job Cost Sheet e. Activity Level (Activity Based Costing)   II. Post Mid-Term (Theory) a. Hi-Lo Method b. Flexible Budget c. Contribution Approach Income Statements     Problems: 1. Answer: C 2. Answer: B 3. Answer: A 4. Answer: A 5. Answer: B 6. Answer: D 7. Answer: A 8. Answer: C   Profit = Sale - Cost = PQ -VQ-FC = (P-V)Q-F Cost = variable cost + fixed cost   9. Answer: B Sale-TVC = 200,000 - (50000+26000) = 124000
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
10. Answer: A 500000-35000 / 5000 = 3 11. Answer: C Sales = 640 contribution margin = 160 vc = 480 f= 160+40 = 200  NI = (40) ==>0 Make cm => 200 sales => 800 quantity needs to go up by (200/160) = 1.25 so vc *1.25  and sales *1.25 ON EXAM! 12. Answer: 
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 4

Econ 139 - Final Review Session - Final REVIEW SESSION...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online