Accounting_203_Chapter_5_Test

Accounting_203_Chapter_5_Test - ACCOUNTING 203 Chapter 5...

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ACCOUNTING 203 Chapter 5 Practice Test 1. Shipping costs at Fisheries Inc. are a mixed cost with variable and fixed cost components. Records indicate the company shipped 6,000 tons of halibut for $5,000 in March and 9,000 tons for $7,400 in April. Assuming that this activity is within the relevant range, the expected shipping cost for shipping 7,800 tons would be: A) $6,240. B) $9,750. C) $6,440. D) $6,200. 2. At an activity level of 20,000 units produced, fixed costs total $30,000 and variable costs total $67,000. Assuming that this activity is within the relevant range if 25,000 units are produced, then: A) total fixed costs are expected to be $37,500. B) variable cost per unit is expected to equal $2.68. C) fixed cost per unit is expected to equal $1.20. D) total cost per unit is expected to equal $3.88. Use the following to answer questions 3-6 Buffo Company fabricates metal folding chairs. Data concerning the company’s revenue and cost structure follow: Selling price per unit………………………. . $35
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This note was uploaded on 05/17/2011 for the course ACCT 203 taught by Professor Mac during the Spring '11 term at Chicago State.

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Accounting_203_Chapter_5_Test - ACCOUNTING 203 Chapter 5...

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