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Exam 1: Managerial Accounting and Cost Concepts

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Question 41

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A contribution format income statement separates costs into fixed and variable categories, first deducting variable expenses from sales to obtain the contribution margin.

A) True
B) False

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Question 42

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The total of the product costs listed above for March is:

A) $516,000
B) $68,000
C) $293,000
D) $223,000

E) A) and C)
F) B) and C)

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Question 43

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Product costs are also known as inventoriable costs.

During the month of May, direct labor cost totaled $10,000 and direct labor cost was 40% of prime cost.If total manufacturing costs during May were $86,000, the manufacturing overhead was:

If 6,000 units are produced, the total amount of direct manufacturing cost incurred is closest to:

Product costs that have become expenses can be found in:

Depreciation on a personal computer used in the marketing department of a manufacturing company would be classified as:

What would be the average fixed cost per unit at an activity level of 5,200 units? Assume that this level of activity is within the relevant range.

The total of the period costs listed above for September is:

Within the relevant range, a change in activity results in a change in variable cost per unit and total fixed cost.

Haack Inc.is a merchandising company.Last month the company's cost of goods sold was $84,000.The company's beginning merchandise inventory was $20,000 and its ending merchandise inventory was $18,000.What was the total amount of the company's merchandise purchases for the month?

Saxbury Corporation's relevant range of activity is 3,000 units to 7,000 units.When it produces and sells 5,000 units, its average costs per unit are as follows: Required: a.For financial reporting purposes, what is the total amount of product costs incurred to make 5,000 units? b.For financial reporting purposes, what is the total amount of period costs incurred to sell 5,000 units? c.If 6,000 units are sold, what is the variable cost per unit sold? d.If 6,000 units are sold, what is the total amount of variable costs related to the units sold? e.If 6,000 units are produced, what is the average fixed manufacturing cost per unit produced? f.If 6,000 units are produced, what is the total amount of fixed manufacturing cost incurred? g.If 6,000 units are produced, what is the total amount of manufacturing overhead cost incurred? What is this total amount expressed on a per unit basis? h.If the selling price is $22.90 per unit, what is the contribution margin per unit sold? i.If 4,000 units are produced, what is the total amount of direct manufacturing cost incurred? j.If 4,000 units are produced, what is the total amount of indirect manufacturing cost incurred? k.What incremental manufacturing cost will the company incur if it increases production from 5,000 to 5,001 units?

Dobosh Corporation has provided the following information: Required: a.For financial reporting purposes, what is the total amount of product costs incurred to make 9,000 units? b.For financial reporting purposes, what is the total amount of period costs incurred to sell 9,000 units? c.If 10,000 units are sold, what is the variable cost per unit sold? d.If 10,000 units are sold, what is the total amount of variable costs related to the units sold? e.If 10,000 units are produced, what is the total amount of manufacturing overhead cost incurred? f.If the selling price is $21.60 per unit, what is the contribution margin per unit sold? g.If 8,000 units are produced, what is the total amount of direct manufacturing cost incurred? h.If 8,000 units are produced, what is the total amount of indirect manufacturing costs incurred? i.What incremental manufacturing cost will the company incur if it increases production from 9,000 to 9,001 units?

To the nearest whole dollar, what should be the total property taxes at a sales volume of 37,200 units? (Assume that this sales volume is within the relevant range.)

The total of the manufacturing overhead costs listed above for September is:

To the nearest whole cent, what should be the average cost of operating the helpline per call at a volume of 25,300 calls in a month? (Assume that this call volume is within the relevant range.)

If 4,000 units are sold, the variable cost per unit sold is closest to:

The incremental manufacturing cost that the company will incur if it increases production from 5,000 to 5,001 units is closest to:

Macy Corporation's relevant range of activity is 4,000 units to 8,000 units.When it produces and sells 6,000 units, its average costs per unit are as follows: If the selling price is $23.50 per unit, the contribution margin per unit sold is closest to:

The following data pertains to activity and costs for two months: Assuming that these activity levels are within the relevant range, the other production costs for July were: