Homework Answers
1) OPTION - C. III.
Fixed cost remains constant irrespective of the level of production.
2)OPTION - C.
Financial Accounting Information System is primarily concerned with producing outputs with the external users.
3)OPTION - B.
The range of an activity within which a linear cost function is valid is called the Relavant range.
4)OPTION - A.
Cost behaviour analysis focuses on how cost reacts to change in activity level.
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The management of River Corporation is considering the purchase of a new machine costing $380,000 The company's desired rate of return is 6%. The present value factor for an annuity of $1 at interest of 6% for 5 years is 4.212. In addition to the foregoing information, use the following data in determining the acceptability of this investment: ncome from Net Cash Year Flow $20,000 20,000 20,000 20,000 20,000 $95,000 95,000 95,000 95,000 95,000 4...
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The following unit data were assembled for the assembly process of the Super Co. for the month of April. Direct materials are added at the beginning of the process. Conversion costs are added uniformly over the production process. The company uses the FIFO method. Units Beginning work in process, (60% completed) Units started in April Ending work in process, (30% completed) 5,000 48,000 ,000 The number of equivalent units produced with respect to conversion costs...
2. 3. 4. 5. 6. 7. 8. A firm's average fixed cost (AFC) is 10 when...
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A firm's average fixed cost (AFC) is 10 when it produces Q=2. Then at Q=5, AFC is ... ОА. 8 Ов. 2 ос. 20 In a perfectly competitive market, the demand for a single firm's product is always O A. perfectly inelastic. O B. exactly as elastic as the market demand curve. O C. inelastic, but not perfectly inelastic. O D. perfectly elastic. As a firm's output increases: O A. average variable cost...
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1.Which of the following statements is CORRECT? A. Prime costs are those costs that are expensed...
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Page 1: Which of the following costs is least likely to be relevant in deciding whether...
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Which of the following is a major subsystem of the cost accounting information system? Oa. ERP Ob. EDI Oc. Operational control information system Od. OLAP C Which of the following is a cost management subsystem designed to assign costs to individual products and services and other objects, as specified by management? Oa, cost accounting information system Ob, financial accounting information system Oc operational control information system Od. All of these choices are correct. In a company that supplies muffins to...
Which of the following is true of a profit-volume graph? Oa. It is a graph of the real income equation. Ob. It is a graph of the operating income equation. Oc. It is a graph of the total income equation. Od. It is a graph of the net income equation. Rawlings, Inc. manufactures a product that passes through two processes: mixing and molding. All manufacturing costs are added uniformly in the Mixing Department. Information for the Mixing Department for January...
1)
2)
3)
4)
5)
The Botosan Factory has determined that its budgeted factory overhead budget for the year is $615,420 and budgeted direct labor hours are 473,400. If the actual direct labor hours for the period are 430,800, how much overhead would be allocated to the period? Oa, $576,841 Ob. $560,040 Oc. $476,034 Od. $677,648 Blue Ridge Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead rate for allocating overhead to...
1)
2)
3)
4)
5)
The management of River Corporation is considering the purchase of a new machine costing $380,000 The company's desired rate of return is 6%. The present value factor for an annuity of $1 at interest of 6% for 5 years is 4.212. In addition to the foregoing information, use the following data in determining the acceptability of this investment: ncome from Net Cash Year Flow $20,000 20,000 20,000 20,000 20,000 $95,000 95,000 95,000 95,000 95,000 4...
1)
2)
3)
4)
5)
The following unit data were assembled for the assembly process of the Super Co. for the month of April. Direct materials are added at the beginning of the process. Conversion costs are added uniformly over the production process. The company uses the FIFO method. Units Beginning work in process, (60% completed) Units started in April Ending work in process, (30% completed) 5,000 48,000 ,000 The number of equivalent units produced with respect to conversion costs...
2.
3.
4.
5.
6.
7.
8.
A firm's average fixed cost (AFC) is 10 when it produces Q=2. Then at Q=5, AFC is ... ОА. 8 Ов. 2 ос. 20 In a perfectly competitive market, the demand for a single firm's product is always O A. perfectly inelastic. O B. exactly as elastic as the market demand curve. O C. inelastic, but not perfectly inelastic. O D. perfectly elastic. As a firm's output increases: O A. average variable cost...
10) Which of the following costs are most likely to be classified as a variable cost? A) Insurance B) Straight-line depreciation C) Direct materials D) Factory rent The term describing a firm's normal range of operating activities is called the A) Relevant range of operations B) Break-even level of operations C) Margin of safety of operations D) None of the above 11) 12) A budget can be an effective means of communicating management's plans to the employees of 1buALSS a...
Firt Page test 3 (Subseqaent Pages) Which of the following can be fousd on the statement of cash flows O a oa changes la stockholders' eqaity Ob.changes la retalsed earnings с.toe" asse" d. cash flows from operating activises Which of the following stadements is false? OManagerial accoustiag docs not aced to confors to GAAP O b. Managerilal accounding soetimes relles ce past inormaskoe. O c. Rnancial accounting anast oeoms to GAAP. O d. There is no overlap betwen fieancial and...
Page 1: Which of the following costs is least likely to be relevant in deciding whether to accept a special order? 1 3 2 ✓ ✓ a) Variable direct material costs 4 5 6 b) Unavoidable fixed overhead 7 8 9 Oc) Variable direct labor costs d) Selling price 10 11 12 13 14 15 Question 12 (Mandatory) (5 points) In deciding whether to drop its electronics product line, a company's manager should ignore 16 17 18 A) the amount...
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