$0.50 x 800,000b
$0.50 x 806,000a
a. Budgeted volume = $403,000 $0.50 per unit = 806,000 units.
b. Overhead applied
Ch 21 Practice Questions Answers
1. Marshall Cabinet Manufacturers uses flexible budgets that are based on the following
manufacturing data for the month of July:
$8 per unit
$5 per unit
Electric power (variable)$0.3
CHAPTER 17 PRACTICE QUESTIONS ANSWERS
1. The Thomlin Company forecasts that total overhead for the current year will be $15,000,000
and that total machine hours will be 200,000 hours. Year to date, the actual overhead is
$15,500,000 and the actua
CHAPTER 15 PRACTICE QUESTIONS ANSWERS
1. If a company's return on assets is substantially higher than its cost of borrowing, then the
common stockholders would normally want the company to have a relatively high debt/equity
TRUE Because th
PRACTICE PROBLEMS CHAPTER 23 - Answers
1. Rag-O-Muffin Corporation had $2,000,000 in invested assets, sales of $1,500,000,
income from operations amounting to $270,000, and a desired minimum rate of return
of 12%. The rate of return on investment
CH 16 PRACTICE QUESTIONS ANSWERS
1. Managerial accounting
is prepared according to GAAP.
is prepared according to management needs.
is prepared periodically only.
is related to the entire business entity only.
uses only objectively de
CHAPTER 24 PRACTICE QUESTIONS - ANSWERS
1. A study has been conducted to determine if Product A should be dropped. Sales of the
product total $200,000 per year; variable expenses total $140,000 per year. Fixed
expenses charged to the product tota
CHAPTER 14 PRACTICE QUESTIONS ANSWERS
1. The sale of a long-term investment for cash would be classified as an investing activity in the
statement of cash flows.
2. Paying cash to retire bonds payable would be considered a financing activity
Ch 22 Practice Problems Answers
1. Ruby Company produces a chair that requires 5 yards of material per unit. The standard
price of one yard of material is $7.50. During the month, 8,500 chairs were manufactured,
using 43,600 yards at a cost of $7.55 per y
Acct 350 Outlines of Chapters
Wahlen, First Edition
Ch. 1 & 2
Will not be on the final
Know all aspects of the accounting cycle including reversing entries.
Cash to/from accrual basis accounting
Ch. 4 - The Balance Sheet
Know all aspects of
$20a x 1.5 x
$20a x 92,000
CHAPTER 19 PRACTICE QUESTIONS - ANSWERS
Given the following cost and activity observations for Smithson Companys utilities,
use the high-low method to calculate Smithsons fixed costs per month. Round
variable cost per unit to two decimal place