QUIZ 1_ACC312-Platt-Spr07_SOLUTION

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

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
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
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

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....
View Full Document

This note was uploaded on 09/26/2011 for the course ACC 312 taught by Professor Welsh during the Spring '08 term at University of Texas at Austin.

Ask a homework question - tutors are online