ACC 225finalexstdyshtch9-10-2

ACC 225finalexstdyshtch9-10-2 - ACCOUNTNG 225 FINAL EXAM...

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ACCOUNTNG 225 FINAL EXAM STUDY SHEET 1.The cost to be predicted is referred to as the a. independent variable b. dependent variable c. cost driver d. regression 2The independent variable a. is also referred to as the cost driver. b. may also be called the cost-allocation base if referring to an indirect cost. c. should have an economically plausible relationship with the dependent variable. d. includes all of the above. 3. Peggy's Pillows produces and sells a decorative pillow for $75.00 per unit. In the first month of operation, 2,000 units were produced and 1,750 units were sold. Actual fixed costs are the same as the amount budgeted for the month. Other information for the month includes: Variable manufacturing costs $20.00 per unit Variable marketing costs $ 3.00 per unit Fixed manufacturing costs $ 7.00 per unit Administrative expenses, all fixed $15.00 per unit Ending inventories: Direct materials -0- WIP -0- Finished goods 250 units What is cost of goods sold per unit using variable costing? a. $20 b. $23 c. $30 d. $45 4. Peggy's Pillows produces and sells a decorative pillow for $75.00 per unit. In the first month of operation, 2,000 units were produced and 1,750 units were sold. Actual fixed costs are the same as the amount budgeted for the month. Other information for the month includes: Variable manufacturing costs $20.00 per unit Variable marketing costs $ 3.00 per unit Fixed manufacturing costs $ 7.00 per unit Administrative expenses, all fixed $15.00 per unit Ending inventories: Direct materials -0- WIP -0- Finished goods 250 units What is cost of goods sold using variable costing? a. $35,000 b. $40,000 c. $47,250 d. $54,000 5. Peggy's Pillows produces and sells a decorative pillow for $75.00 per unit. In the first month of operation,
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2,000 units were produced and 1,750 units were sold. Actual fixed costs are the same as the amount budgeted for the month. Other information for the month includes: Variable manufacturing costs $20.00 per unit Variable marketing costs $ 3.00 per unit Fixed manufacturing costs $ 7.00 per unit Administrative expenses, all fixed $15.00 per unit Ending inventories: Direct materials -0- WIP -0- Finished goods 250 units What is contribution margin using variable costing? a. $96,250 b. $91,000 c. $104,000 d. $110,000 6. Peggy's Pillows produces and sells a decorative pillow for $75.00 per unit. In the first month of operation, 2,000 units were produced and 1,750 units were sold. Actual fixed costs are the same as the amount budgeted for the month. Other information for the month includes: Variable manufacturing costs $20.00 per unit Variable marketing costs $ 3.00 per unit Fixed manufacturing costs $ 7.00 per unit Administrative expenses, all fixed $15.00 per unit Ending inventories: Direct materials -0- WIP -0- Finished goods 250 units What is operating income using variable costing? a.
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This note was uploaded on 07/17/2011 for the course ACC 225 taught by Professor Jones during the Summer '11 term at Fayetteville Technical CC.

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ACC 225finalexstdyshtch9-10-2 - ACCOUNTNG 225 FINAL EXAM...

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