it is managerial accounting , please help me with these question
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35,multiple choicepomts each for a total point of 100. Select the BEST questions. Questions 1-30 worth 3 Actual quantity of direct materials used 12,000 gallonsStandard price of direct materials $5 per gallonMaterial quantity variance $2,000 favorable The standard quantity of direct material allowed for April production is: A. 12,700 gallons lEGOOX E _: 60000 # 1000 : QDGC3- 12,400 gallons © 11,600 gallonsD. 11,700 gallons 2. Alka Corporation manufactures industrial-sized gas furnaces and uses budgeted machine-hours to allocate variable manufacturing overhead. The following information pertains to thecompany’s manufacturing overhead data: Budgeted output units 29,000 units “3133/ 2.11am? _ ; O‘K gi , 8 ‘Budgeted machine-hours 10,150 hours %looo w o. t 3: : 1 .’> K 52%0/10‘"? .Budgeted variable manufacturing overhead costs for 10,150 hours $324,800 Actual output units produced 31,000 unitsActual machine—hours used 14,400 hoursActual variable manufacturing overhead costs $333,250 What is the standard variable overhead cost rate per machine hour? A. $11.20B. $23.14£332.00 ‘D.’ $22.56 3. The flexible budget contains A budgeted amounts for actual outputbudgeted amounts for budgeted output C. actual costs for actual outputD. actual costs for budgeted output
ATTACHMENT PREVIEWDownload attachmentmodel and the regular model. Theperiod is shown below by productequally betWeen each of the threesuperior model? Sales Variable CostsContribution MarginFacility Sustaining CostNet Income (Loss) Deluxe$25 0,0001’70 000$80,000 40,000 $40,000 es of intercom systems, the deluxe model, the superiorprofit report for these intercom systems for the most recentline. The facility sustaining costs are fixed and allocatedproduct lines. Should Transcorn Corporation drop the Superior Regular$95,000 $145,00060,000 105 000$35,000 $40,00040,000 40 000$(5,000) $~0~ A. Yes. The superior model is operating at a loss. B. Yes. The regular model should also be dropped. C. No. The superior model is generating revenue of $95,000.D. No. The revenues lost are greater than the costs saved. Use the following information to answer questions 5-8: A company produces a single product. Last year, fixed manufacturing overhead was $30,000,variable production costs were $48,000, fixed selling and administration costs were $20,000, andvariable selling expenses were $9,600. There was no beginning inventory. During the year, 3,000 units were produced and 2,400 units were sold at a price of $40 per unit.5. Under variable costing, contribution margin would be: A. $52,300(133 $48,0000. $49,920D. $57,600 6. Under variable costing, net operating income (loss) would be: A. a profit of $4,000. B. a loss of$80.C. a profit of $2,000. @321 loss of $2,000. 7. Under absorption costing, gross margin would be: A. $33,600B. $27,600C. $49,920D. $57,600 8. Under absorption costing, net operating income (loss) would be: A. a profit of $4,000.B. a profit of $8,920. C. a profit of $2,120.D. a loss of $2,000.
ATTACHMENT PREVIEWDownload attachment’A. $1,325 U |’3. $1,755 F Cm WW €2,911 :C. $1,325 FD. $1,755 U 14. Which of the following is a reason for a favorable material price variance? (g; the purchasing manager bargaining effectively with suppliers. the purchasing manager giving orders for small quantity to reduce storage costC. the purchasing manager accepting a bid from the highest-priced supplier to ensure the quality of materialD. the personnel manager hiring underslcilled workers Use the following information to answer questions 15 and 16: Animent Industries, Inc. (All), developed standard costs for direct material and direct labor. In2015, All estimated the following standard costs for one of their major products, the lO—gallon plastic container. A IStandard Quantity per unit Standard price “9:00) X L (2 – if"?Direct materials 0.10 pounds $60 per poundDirect labor 0.05 hours $30 per hour During June, All produced and sold 20,000 containers using 1,900 pounds of direct materials at acost of $64 per pound and 1,000 direct manufacturing labor-hours at $30.50 per hour. ’? 15. The direct material price variance during June is E $7,600 unfavorableB. $1,600 favorableC. $1,600 unfavorable D. $7,600 favorable 16. The direct manufacturing labor usage variance during June is A. $125 unfavorablea," $500 favorableC. $1,600 unfavorable D. $0toot"? [7205′ g”)
ATTACHMENT PREVIEWDownload attachmenttotal variable manufacturing overhead was $20,21 0 and the actual level of activi fo th ‘ ,for “131110; th: period was 4,700 DLHs. What was the variable overhead spending variance g Corporation has a standard cost system in which it applies A. $400 unfavorable . $1,880 favorable . $1,880 unfavorableD. $400 favorable 18. A company-had income of $60,000 using absorption costing for a given period. Beginningand ending inventories for that period were 13,000 units and 18,000 units, respectively.Ignoring meome taxes, if the fixed overhead application rate was $3.00 per unit, what wasthe income using variable costing? A. $75,000B. $60,000C. $45,000D. Not sufficient information to determine. Use the following information to answer questions 19 and 20 Dosier Corporation has a standard cost system in which it applies manufacturing overhead toproducts on the basis of standard machine-hours (MI-ls). The company has provided the following data for the most recent month: Normal level of activity 5,100 MI-IsActual level of activity 5,000 MHsStandard activities allowed for the actual output 5,200 MHsStandard variable manufacturing overhead rate $6.10 per Ml-IBudgeted fixed manufacturing overhead cost $65,000Actual variable manufacturing overhead $28,500Actual total fixed manufacturing overhead $63,000 19. What was the fixed overhead budget variance for the month? A. $2,000 unfavorableB. $2,000 favorableC. $610 unfavorableD. $610 favorable 20. What was the fixed overhead volume variance for the month? A. $1,275 unfavorableB. $1,275 favorable ‘C. $610 unfavcrabl-e D. $61’0‘faVorabIe
ATTACHMENT PREVIEWDownload attachment1 would be elnmnated 1f Mason accepted the offer. By how much Mason accepts this offer and purchases 3,000 gear mechanisms?A. $9,900 increase B. $9,900 decreaseC. $5,400 increaseD. $300 increase Use the following information to answer questions 22—24:Plzza For Everyone is considering replacing its existing delivery van with a new one. The new van can offer considerable savings in operating costs. Information about the existing van and thenew van follow: Existing van New van Original purchase cost $50,000 $90,000Annual operating cost $17,500 $10,000Accumulated depreciation $30,000 —Current book value $20,000 —Current salvage value of the existing van $22,500 —-Remaining life 10 years 10 yearsSalvage value in 10 years $ 0 $ 0 22. Sunk costs include"’-‘ é the accumulated depreciation of the existing vanB. the original cost of the new van C. the current salvage value of the existing van D. the annual operating cost of the new van 23. Relevant costs for this decision include A. the original cost of the existing van B. accumulated depreciation of the existing vanC. the annual operating cost I). the book value of the existing van 24. Should Pizza For Everyone replaces the existing delivery van with the new one? 7 g; A. Yes. The annual operating cost of the new van is lower than that of the existing van.‘ ‘ ‘ B. Yes. The total cost saving from the new van is greater than the initial investment.C. No. The total cost saving from the new van is lower than the initial investmentD. No. Replacing the existing van with the new van will lead to a lower net operating income every year.
ATTACHMENT PREVIEWDownload attachment(B. $15,000;$17,500L5) $20,000; $22,500D. $20,000;$17,500 26′ Routsong COmpany had the following sales and production data for the past four years: | _ 6,000 9,000 4,000 5 0006,000 6,000 5,000 7,000 Selling price per unit, direct material per unit, direct labor per unit, variable overhead cost perHula-and fined overhead cost are the same in each year. Ignoring the selling andadministrative costs, Which of the following statements is not correct? 6 Under variable costing, net operating income for Year 1 and Year 2 would be the same. B Because of the changes in production levels, under variable costing the unit product cost will change each year. C. The total net operating income for all four years combined would be the same undervariable and absorption costing. D. Under absorption costing, net operating income in Year 1 would be less than the netoperating income in Year 2. 27. Meacham Company has traditionally made a subcomponent of its major product. Annualproduction of 20,000 subcomponents results in the following costs: Direct materials …………………………… $200,000Direct labor ………………. . ………………. $180,000Variable manufacturing overhead ….. $150,000Fixed manufacturing overhead ……. -. .. $00,000 Meacham has received an offer from an outside supplier who is willing to provide 20,000units of this subcomponent each year at a price of $28 per subcomponent. Meacham knowsthat the facilities now being used to make the subcomponent would be rented to anothercompany for $75,000 per year if the subcomponcnt were purchased from the outside supplier.Otherwise, the fixed overhead would be unaffected. What is the impact on net operating income of purchasing the subcomponent rather than making it‘? Increase by $45,000 Increase by $70,000C. ”Decrease by $30,000D. Decrease by $70,000
ATTACHMENT PREVIEWDownload attachmentmaterial qUantity al entry m r. CCOrd favora ‘ -variances are me (meet ”men“ quantity variances, the direct A’ always Credits ;_____.3′ aIWays debits C. debited to the Work-in- D. de . Process Inventor accountbited to the Raw Material Inventory azcount Use t – .Th fhe followmg information to answer questions 29 and 30_e 01 ‘ .10Wlng matenals standards have been established for a particular product: ……………………………… 7.3 Pounds…………………. $14.45 per pound Standard quantit -y erunt fStandard Price____……3 ……………. l if.) Output """" The fOHOWing data Pertain to operations concerning the product for the last month: Actual materials purchasedm __________________________ _6,600 PoundsActual cost of materials purch “$91,740 IActual materials used in production …… 5,900 PoundsActual output“29. What is the materials quantity variance for the month?A. $10,] 15 Fj «13. $20,230U §r7¢o~ (Maw 14:4er‘ 0. $10,115 U ‘i’ ‘- D. $20,230F 17W "933% ‘ 30. What is the materials price variance for the month, assuming the company records rawmaterial inventory at standard costs of raw materials? A. $3,630 F L13 $3,630U WOW. 5 : Ho:(3. 3,245 UD. $3,245 F W“? "72”" "WW “(421/ Answer questions 51-55 based on the reading of ethical issues. Indicate your answers toquestions 51-55 on the back of the scantron. 51. One should never counsel a spouse or other family member for work—related situations. A. TrueB. False resentation can be corrected much easier if it is addressed 52. Any misunderstanding or misrepmore difficult and costly to correct the problem. early. As time passes, it becomes much A. TrueB. False
ATTACHMENT PREVIEWDownload attachment3130 have fu – o etthal :5311 Info – lies, One Sho l .I‘Tnat U d considA. True 1011. or how the other part Would feel if they3- False 54~ Which oft Sometimes .It costs us three times what we receive in fees to do a quality job-39 13. “The 5st ‘leaveyouji aefglwwe attic developing has many modules to handle various contingencies. We canOpportunit t mo ules, or make it difficult to handle some contingencies. This gives us any o sell add-on work, which is good for us, but I’m not sure it is fair for the client.” C. “W -the elhave regular Progress reports With the client. The project group leader continues to tellC rent We are on schedule and will complete the project by the specified date wheneveryone on the team knows it will not be achieved. When the client asks me how things are 30mg, What should I say?"D. “There are a lot of costs associated with your work as a consultant. Frequently, it is difficultto know which I should cover out of my own money, which should be charged to the client, and which should be charged to new business development. For example, i took a group ofclient employee to lunch to improve our working relationships and to report project status. How should I handle the cost of the lunch?” 55. Which of the following situations represents the ethical issue of accurate expense reporting? A. “We commit to something and then we try to figure out how to do it. It seems like thereought to be some parameters that outline what we do and use as a basis to other accept or reject an engagement. This is not only an ethical issue of quality, it is also a profit issue.Sometimes it costs us three times what we receive in fees to do a quality job.” B. “They system we are developing has many modules to handle various contingencies. We canleave out a few modules, or make it diffiCult to handle some contingencies. This gives us anrtunity to sell add—on work, which is good for us, but l’rn not sure it is fair for the client.” C. “The secretary bought an airplane ticket for my weekend trip home. However, because i hadto work late, I personally rebooked my ticket. Since it was a later flight, the airfare was less and I was reimbursed for the difference. What should I do with the money?”The project group leader continues to tell 6 and will complete the project by the specified date whent will not be achieved. When the client asks me how things are oppo D. “We have regular progress reports with the client. the client we are on scheduleveryone on the team knows 1 going, what should I say?”
Read moreName: (Please print)35,multiple choicepomts each for a total point of 100. Select the BEST questions. Questions 1-30 worth 3 Actual quantity of direct materials used 12,000 gallonsStandard price of direct materials $5 per gallonMaterial quantity variance $2,000 favorable The standard quantity of direct material allowed for April production is: A. 12,700 gallons lEGOOX E _: 60000 # 1000 : QDGC3- 12,400 gallons © 11,600 gallonsD. 11,700 gallons 2. Alka Corporation manufactures industrial-sized gas furnaces and uses budgeted machine-hours to allocate variable manufacturing overhead. The following information pertains to thecompany’s manufacturing overhead data: Budgeted output units 29,000 units “3133/ 2.11am? _ ; O‘K gi , 8 ‘Budgeted machine-hours 10,150 hours %looo w o. t 3: : 1 .’> K 52%0/10‘"? .Budgeted variable manufacturing overhead costs for 10,150 hours $324,800 Actual output units produced 31,000 unitsActual machine—hours used 14,400 hoursActual variable manufacturing overhead costs $333,250 What is the standard variable overhead cost rate per machine hour? A. $11.20B. $23.14£332.00 ‘D.’ $22.56 3. The flexible budget contains A budgeted amounts for actual outputbudgeted amounts for budgeted output C. actual costs for actual outputD. actual costs for budgeted output
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