BUS/475 Integrated Business Topics: Sample Final Exam
What amounts are not included in Gross Margin?
Cost of goods sold
At what rate is the income statement converted for US $ comparison?
First day of the month rate
It is not appropriate to convert to US $
Which list below best describes the major services performed by public accountants?
Bookkeeping, mergers, and budgets
Employee training, auditing, and bookkeeping
Auditing, taxation, management consulting
Cost accounting, production scheduling, recruiting
Jaime Inc. manufactures 2 products, sweaters and jackets. The company has estimated its overhead
in the order-processing department to be $180,000. The company produces 50,000 sweaters and
80,000 jackets each year. Sweater production requires 25,000 machine hours, jacket production
requires 50,000 machine hours. The company places raw materials orders 10 times per month, 2
times for raw materials for sweaters and the remainder for raw materials for jackets. How much of the
order-processing overhead should be allocated to jackets?
ABC Bread sells a box of bagels with a contribution margin of 62.5%. Its fixed costs are $150,000 per
year. How much sales dollars does ABC Bread need to break-even per year if bagels are its only