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QUIZ 1_ACC312-Platt-Spr07_SOLUTION

QUIZ 1_ACC312-Platt-Spr07_SOLUTION - 4 BevoCo reports...

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ACC 312 QUIZ #1 NAME V ERSION A Section (circle): 11:00 12:30 2:00 1. Which of the following graphs represents Total Variable Cost, under the assumptions we discussed in class? 2. Conversion costs are… a. Fixed cost + Variable cost b. Fixed cost + Prime cost c. Direct material + Direct labor d. Direct labor + Manufacturing overhead e. Opportunity cost + Sunk cost 3. Which of the following Manufacturing Overhead costs is not accurately described? a. Depreciation on production machinery b. Production supervisors’ salaries c. Plant accountants’ benefits d. Production workers’ total idle time e. Production workers’ total overtime wages
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Unformatted text preview: 4. BevoCo reports profits of $50,000 on sales of 100 units priced at $1500 per unit. If fixed costs are $40,000, what would we predict as profits on 110 units? a. $50,000 b. $55,000 c. $59,000 d. $65,000 e. $69,000 5. What is the term in process costing that is used to describe the amount of production activity that has been applied to a batch of physical units? a. Equivalent units b. Production valance c. Prime cost d. Normed unit assignment e. Marginal cost Q $ Q $ Q $ Q $ Answers Here a. b. c. d. c b d e a Solution Note : Graphs have been reordered on each version of quiz....
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