Practice Exam 3

Practice Exam 3 - Practice Exam 3 Student: _ 1. Cox...

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Practice Exam 3 Student: ___________________________________________________________________________ 1. Cox Company's direct material costs for the month of January were as follows: For January there was a favorable direct materials quantity variance of: A. $3,360 B. $3,375 C. $3,400 D. $3,800 2. In October, 5,000 meters of raw material were purchased at an actual cost of $4.50 per meter. During October, 4,850 meters of the raw material were used to produce 2,400 units of the completed product. Standards call for 2 meters of the raw material for each unit of the completed product. The standard price of the raw material is $4.70 per meter. The materials variances for October were: A. Option A B. Option B C. Option C D. Option D
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3. Rodenberger Corporation keeps careful track of the time required to fill orders. The times recorded for a particular order appear below: The delivery cycle time was: A. 30.8 hours B. 8.8 hours C. 31.9 hours D. 2.7 hours 4. In a certain standard costing system the following results occurred last period: labor rate variance, $1,000 U; labor efficiency variance, $2,800 F; and the actual labor rate was $0.20 more per hour than the standard labor rate. The number of actual direct labor-hours used last period was: A. 9,000 B. 5,400 C. 5,000 D. 4,800 5. The following labor standards have been established for a particular product: The following data pertain to operations concerning the product for the last month: What is the labor efficiency variance for the month? A. $5,955 U B. $9,240 U C. $9,240 F D. $6,090 U
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6. Marazzi Corporation keeps careful track of the time required to fill orders. The times recorded for a particular order appear below: The throughput time was: A. 5.3 hours B. 20.7 hours C. 15.4 hours D. 9.5 hours 7. Reifsnyder Corporation keeps careful track of the time required to fill orders. The times recorded for a particular order appear below: The manufacturing cycle efficiency (MCE) was closest to: A. 0.73 B. 0.06 C. 0.15 D. 0.02 8. Denner Company has two divisions, A and B, that reported the following results for October: If common fixed expenses were $31,000, total fixed expenses must have been: A. $31,000 B. $62,000 C. $93,000 D. $52,000
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The following information is available on Company A: 9. Company A's residual income is: A. $9,000 B. $21,000 C. $45,000 D. $24,000 10. Company A's return on investment (ROI) is: A. 4% B. 15% C. 20% D. 36% The Axle Division of LaBate Company makes and sells only one product. Annual data on the Axle Division's single product follow: 11. If Axle sells 15,000 units per year, the residual income should be: A. $30,000 B. $100,000 C. $50,000 D. $10,000
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The Holmes Division recorded operating data as follows for the past year: 12. For the past year, the margin was: A. 12.50% B. 13.00% C. 14.75% D. 15.00% 13. For the past year, the turnover was: A. 25 B. 10 C. 4 D. 2 14. (Ignore income taxes in this problem.) Arthur operates a part-time auto repair service. He estimates that a new diagnostic computer system will result in increased cash inflows of $2,100 in Year 1, $3,200 in Year 2, and
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Practice Exam 3 - Practice Exam 3 Student: _ 1. Cox...

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