Question

UNITS PRODUCED AND SOLD 50,000 100,000 200,000 TOTAL COSTS VARIABLE COSTS FIXED COSTS 50,000 TOTAL COSTS COST PER UNIT VARIABLE COST FIXED COST 50.25 TOTAL COST PER UNIT ASSUME THE COMPANY SELLS 200,000 UNITS FOR S1/UNIT PREPARE A CONTRIBUTION FORMAT INCOME STATEMENT 1 cost behavior patterns include: (aj variable costs (b)fixed costs (c) mixed costs (d) all of the above 2 fixed costs: (a) remain the same in total (b) vary per unit (c) remain constant per unit (d) vary in total fe) a and b (f) c and d 3 variable costs: (a) remain the same in total (b) vary per unit (c) remaitn constant per unt (d) vary in total (e) a and b (t cand d 4 a car lease that specified a $100 fee per month plus $.30 per mile would be an example of a: (a) fixed cost (b) variable cost (c) mixed cost 5 supervisors' salaries of $3,000 per month would be an example ot a: (aj tixed cost (b) variable cost (c) mixed cost 6 direct materials is an example of a: (a) fixed cost (b) variable cost (c) mixed cost NVENTORY PRODUCED UMTS INVENTORY SOLD IUNIrs UNIT SALES PRKE VARINBLE UNIT COST DL VARIABLI SELLING/ADM 40,000 30 000 $ T0 S 10 5 20 S 10 FIXED MEG OH 120,000 100,000 PREPARE AN ABSORPTION INCOME STATEMENT ABLE INCOME STATEMEN PERTAINING TO ABORPTION/VARIABLE INCOME STATEMENTS ANSWER THE FOLLOWING F UNIT SALES ARE LESS THAN UNITS PRODUCED IN A GIVEN MONTH THEN NET INCOME IS GREATER EQUAL İF UNIT SALES ARE MORE THAN UNITS PRODUCED IN A GNEN MONTH THEN NET INCOME IS GREATER/EQUAL F UNIT SALES ARE EQUAL TO UNITS PRODUCED IN A GIVEN MONTH THEN NET INCOME NET INCOME IS GREATER/EQUAL wNCH ǐNCOME STATEMENT PRESENTATION is usED roR EXTERNAL PİNANCİAL RERRrwG WHICH NCOME STATEMENT PRESENTATION IS USED FOR INTERNAL MANAGEMENT USE BUDGETED UNITS S COST $10,000/UNIT MATERIAL LABOR 10,000 HRS $22/HR ACTUAL UNITS COST MATERIAL 6$9,s00/UNT ABOR 12.000 HRS CONTRACT PRICE PREPARE A BUDGETED AND ACTUAL INCOME STATEMENT $20/HR $350,000 WHAT IS THE GROSS PROFIT AND GROSS PROFIT % COMPUTE THE PRICE VARIANCE THE QUANTITY VARIANCE THE RATE VARIANCE THE EFFICIENCY VARIANCE THE TOTAL VARIANCES FOR LABOR MATERIAL STD HOURS STD RATE ACTUAL HOURS WORKED ACTUAL RATE LABOR RATE VARIANCE LABOR EFFICIENCY VARIANCE TOTAL VARIANCE $2,400 FAVORABLE 550 STD QTY REQUIRED STD PRICE ACTUAL QTY USED ACTUAL PRICE PRICE VARIANCE QTY VARIANCE TOTAL VARIANCE 600 10 1,200 FAVORABLE 2

Answer 1

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