Which of the following is a product cost? A. Glass in an automobile. B. Advertising. C. The salary of the vice president-finance. D. Rent on a factory. E. Both "A" and "D."

Which of the following is a product cost?
 
A. Glass in an automobile.
 
B. Advertising.
 
C. The salary of the vice president-finance.
 
D. Rent on a factory.
 
E. Both "A" and "D."
                                 


CLICK HERE TO GET THE ANSWER !!!!

Which of the following statements is true? All organizations incur the same types of costs. Different cost concepts and classifications are used for different purposes. The word "cost" has the same meaning in all situations in which it is used. Costs incurred in one year are always meaningful in the following year. Cost data, once classified and recorded for a specific application, are appropriate for use in any application.

Which of the following statements is true?
 
All organizations incur the same types of costs.
 
Different cost concepts and classifications are used for different purposes.
 
The word "cost" has the same meaning in all situations in which it is used.
 
Costs incurred in one year are always meaningful in the following year.
 
Cost data, once classified and recorded for a specific application, are appropriate for use in any application.
                                        


CLICK HERE TO GET THE ANSWER !!!!

The variable costs per unit are $22 when a company produces 28,000 units of product. What are the variable costs per unit when 30,000 units are produced? $21.50. $22.00. $20.50. None of these. $21.00.

The variable costs per unit are $22 when a company produces 28,000 units of product. What are the variable costs per unit when 30,000 units are produced?
 
$21.50.

$22.00.
 
$20.50.
 
None of these.
 
$21.00.
                                        


CLICK HERE TO GET THE ANSWER !!!!

The accounting records of Bronco Company revealed the following information: Raw materials used $ 75,000 Direct labor 140,000 Manufacturing overhead 375,000 Work-in-process inventory, 1/1 65,000 Finished-goods inventory, 1/1 204,000 Work-in-process inventory, 12/31 91,000 Finished-goods inventory, 12/31 155,000 Bronco's cost of goods manufactured is: $613,000. $564,000. $616,000. $567,000. None of these.

The accounting records of Bronco Company revealed the following information:
 Raw materials used    $ 75,000  
 Direct labor    140,000  
 Manufacturing overhead    375,000  
 Work-in-process inventory, 1/1    65,000  
 Finished-goods inventory, 1/1    204,000  
 Work-in-process inventory, 12/31    91,000  
 Finished-goods inventory, 12/31    155,000  

Bronco's cost of goods manufactured is:
 
$613,000.

$564,000.
 
$616,000.
 
$567,000.
 
None of these.
                                        


CLICK HERE TO GET THE ANSWER !!!!

The accounting records of Bronco Company revealed the following information: Raw materials used $ 75,000 Direct labor 140,000 Manufacturing overhead 375,000 Work-in-process inventory, 1/1 65,000 Finished-goods inventory, 1/1 204,000 Work-in-process inventory, 12/31 91,000 Finished-goods inventory, 12/31 155,000 Bronco's cost of goods manufactured is: $613,000. $564,000. $616,000. $567,000. None of these.

The accounting records of Bronco Company revealed the following information:
 Raw materials used    $ 75,000  
 Direct labor    140,000  
 Manufacturing overhead    375,000  
 Work-in-process inventory, 1/1    65,000  
 Finished-goods inventory, 1/1    204,000  
 Work-in-process inventory, 12/31    91,000  
 Finished-goods inventory, 12/31    155,000  

Bronco's cost of goods manufactured is:
 
$613,000.

$564,000.
 
$616,000.
 
$567,000.
 
None of these.
                                        


CLICK HERE TO GET THE ANSWER !!!!

The accounting records of Diego Company revealed the following costs, among others: Factory insurance $ 34,000 Raw material used 258,000 Customer entertainment 17,000 Indirect labor 47,000 Depreciation on salespersons' cars 24,000 Production equipment rental costs 74,000 Calculate the total manufacturing overhead for the company. $179,000. $155,000. $196,000. None of these. $454,000.

The accounting records of Diego Company revealed the following costs, among others:
 
 Factory insurance    $ 34,000 
 Raw material used    258,000 
 Customer entertainment    17,000 
 Indirect labor    47,000 
 Depreciation on salespersons' cars    24,000 
 Production equipment rental costs    74,000 

Calculate the total manufacturing overhead for the company.
 
$179,000.

$155,000.
 
$196,000.
 
None of these.
 
$454,000.
 

CLICK HERE TO GET THE ANSWER !!!!

Lake Appliance produces washers and dryers in an assembly-line process. Payroll costs incurred during a recent period were: corporate executives, $530,000; assembly-line workers, $210,000; security guards, $48,000; and plant supervisor, $140,000. The total of Lake's direct labor cost was: $732,000. $188,000. $140,000. $202,000. $210,000.

Lake Appliance produces washers and dryers in an assembly-line process. Payroll costs incurred during a recent period were: corporate executives, $530,000; assembly-line workers, $210,000; security guards, $48,000; and plant supervisor, $140,000. The total of Lake's direct labor cost was:
 
$732,000.
 
$188,000.
 
$140,000.
 
$202,000.
 
$210,000.
                                        


CLICK HERE TO GET THE ANSWER !!!!

Supply costs at Lattea Corporation's chain of gyms are listed below: Client-Visits Supply Cost March 11,672 $28,586 April 11,468 $28,420 May 12,000 $28,844 June 14,500 $28,942 July 11,732 $28,647 August 11,218 $28,246 September 12,012 $28,845 October 11,703 $28,603 November 11,851 $28,728 Management believes that supply cost is a mixed cost that depends on client-visits. Using the high-low method to estimate the variable and fixed components of this cost, those estimates would be closest to: (Round your Variable cost per unit to 2 decimal places.) $0.25 per client-visit; $25,392 per month $0.21 per client-visit; $25,897 per month $1.90 per client-visit; $28,648 per month $.79 per client-visit; $18,839 per month

Supply costs at Lattea Corporation's chain of gyms are listed below:
     Client-Visits    Supply Cost
  March    11,672         $28,586     
  April    11,468         $28,420     
  May    12,000         $28,844     
  June    14,500         $28,942     
  July    11,732         $28,647     
  August    11,218          $28,246     
  September    12,012         $28,845     
  October    11,703         $28,603     
  November    11,851         $28,728     

Management believes that supply cost is a mixed cost that depends on client-visits. Using the high-low method to estimate the variable and fixed components of this cost, those estimates would be closest to: (Round your Variable cost per unit to 2 decimal places.)
 
$0.25 per client-visit; $25,392 per month
 
$0.21 per client-visit; $25,897 per month
 
$1.90 per client-visit; $28,648 per month
 
$.79 per client-visit; $18,839 per month
 

CLICK HERE TO GET THE ANSWER !!!!

The following costs were incurred in September: Direct materials $41,000 Direct labor $32,900 Manufacturing overhead $22,100 Selling expenses $17,500 Administrative expenses $32,600 Prime costs during the month totaled: $146,100 $96,000 $73,900 $55,000

The following costs were incurred in September:
 
  Direct materials    $41,000  
  Direct labor    $32,900  
  Manufacturing overhead    $22,100  
  Selling expenses    $17,500  
  Administrative expenses    $32,600  

Prime costs during the month totaled:
 
$146,100
 
$96,000
 
$73,900
 
$55,000


CLICK HERE TO GET THE ANSWER !!!!

The following costs were incurred in September: Direct materials $41,000 Direct labor $32,900 Manufacturing overhead $22,100 Selling expenses $17,500 Administrative expenses $32,600 Prime costs during the month totaled: $146,100 $96,000 $73,900 $55,000

The following costs were incurred in September:
 
  Direct materials    $41,000  
  Direct labor    $32,900  
  Manufacturing overhead    $22,100  
  Selling expenses    $17,500  
  Administrative expenses    $32,600  

Prime costs during the month totaled:
 
$146,100
 
$96,000
 
$73,900
 
$55,000


CLICK HERE TO GET THE ANSWER !!!!

The following costs were incurred in September: Direct materials $45,200 Direct labor $31,000 Manufacturing overhead $23,400 Selling expenses $19,100 Administrative expenses $33,700 Conversion costs during the month totaled: $152,400 $68,600 $54,400 $76,200

  The following costs were incurred in September:
  Direct materials    $45,200   
  Direct labor    $31,000   
  Manufacturing overhead    $23,400   
  Selling expenses    $19,100   
  Administrative expenses    $33,700   

Conversion costs during the month totaled:
 
$152,400
 
$68,600
 
$54,400
 
$76,200
 

CLICK HERE TO GET THE ANSWER !!!!

Variable cost: increases on a per unit basis as the number of units produced increases. decreases on a per unit basis as the number of units produced increases. remains constant on a per unit basis as the number of units produced increases. remains the same in total as production increases.

Variable cost:
 
increases on a per unit basis as the number of units produced increases.
 
decreases on a per unit basis as the number of units produced increases.
 
remains constant on a per unit basis as the number of units produced increases.
 
remains the same in total as production increases.
                                        


CLICK HERE TO GET THE ANSWER !!!!

Conversion costs do NOT include: direct materials. indirect materials. depreciation. indirect labor.

Conversion costs do NOT include:
 
direct materials.
 
indirect materials.
 
depreciation.
 
indirect labor.


CLICK HERE TO GET THE ANSWER !!!!

Conversion cost consists of which of the following? Direct labor and manufacturing overhead cost. Manufacturing overhead cost. Direct materials and direct labor cost. Direct labor cost.

Conversion cost consists of which of the following?
 
Direct labor and manufacturing overhead cost.
 
Manufacturing overhead cost.
 
Direct materials and direct labor cost.
 
Direct labor cost.
                                        


CLICK HERE TO GET THE ANSWER !!!!

Which of the following should NOT be included as part of manufacturing overhead at a company that makes office furniture? Idle time for direct labor. Taxes on a factory building. Manufacturing equipment depreciation. Sheet steel in a file cabinet made by the company.

Which of the following should NOT be included as part of manufacturing overhead at a company that makes office furniture?
 
Idle time for direct labor.
 
Taxes on a factory building.
 
Manufacturing equipment depreciation.
 
Sheet steel in a file cabinet made by the company.
                                        


CLICK HERE TO GET THE ANSWER !!!!

costing $470,000 or a new model 240 machine costing $428,000 to replace a machine that was purchased 6 years ago for $455,000. The old machine was used to make product M25A until it broke down last week. Unfortunately, the old machine cannot be repaired. Management has decided to buy the new model 240 machine. It has less capacity than the new model 370 machine, but its capacity is sufficient to continue making product M25A. Management also considered, but rejected, the alternative of simply dropping product M25A. If that were done, instead of investing $428,000 in the new machine, the money could be invested in a project that would return a total of $461,000. In making the decision to buy the model 240 machine rather than the model 370 machine, the differential cost was: $15,000 $6,000 $42,000 $27,000

costing $470,000 or a new model 240 machine costing $428,000 to replace a machine that was purchased 6 years ago for $455,000. The old machine was used to make product M25A until it broke down last week. Unfortunately, the old machine cannot be repaired.
 
Management has decided to buy the new model 240 machine. It has less capacity than the new model 370 machine, but its capacity is sufficient to continue making product M25A.
 
Management also considered, but rejected, the alternative of simply dropping product M25A. If that were done, instead of investing $428,000 in the new machine, the money could be invested in a project that would return a total of $461,000.

In making the decision to buy the model 240 machine rather than the model 370 machine, the differential cost was:
 
$15,000
 
$6,000
 
$42,000
 
$27,000

                                        


CLICK HERE TO GET THE ANSWER !!!!

Management of Modugno Corporation is considering whether to purchase a new model 370 machine costing $459,000 or a new model 240 machine costing $405,000 to replace a machine that was purchased 9 years ago for $414,000. The old machine was used to make product M25A until it broke down last week. Unfortunately, the old machine cannot be repaired. Management has decided to buy the new model 240 machine. It has less capacity than the new model 370 machine, but its capacity is sufficient to continue making product M25A. Management also considered, but rejected, the alternative of simply dropping product M25A. If that were done, instead of investing $405,000 in the new machine, the money could be invested in a project that would return a total of $445,000. In making the decision to invest in the model 240 machine, the opportunity cost was: $414,000 $405,000 $445,000 $459,000

Management of Modugno Corporation is considering whether to purchase a new model 370 machine costing $459,000 or a new model 240 machine costing $405,000 to replace a machine that was purchased 9 years ago for $414,000. The old machine was used to make product M25A until it broke down last week. Unfortunately, the old machine cannot be repaired.
 
Management has decided to buy the new model 240 machine. It has less capacity than the new model 370 machine, but its capacity is sufficient to continue making product M25A.
 
Management also considered, but rejected, the alternative of simply dropping product M25A. If that were done, instead of investing $405,000 in the new machine, the money could be invested in a project that would return a total of $445,000.

In making the decision to invest in the model 240 machine, the opportunity cost was:
 
$414,000
 
$405,000
 
$445,000
 
$459,000
                                        


CLICK HERE TO GET THE ANSWER !!!!

Salvadore Inc., a local retailer, has provided the following data for the month of September: Merchandise inventory, beginning balance $ 47,700 Merchandise inventory, ending balance $ 44,200 Sales $264,500 Purchases of merchandise inventory $136,900 Selling expense $ 24,100 Administrative expense $ 58,700 The net operating income for September was: $41,300 $44,000 $128,600 $127,600

Salvadore Inc., a local retailer, has provided the following data for the month of September:

  Merchandise inventory, beginning balance    $  47,700  
  Merchandise inventory, ending balance    $  44,200  
  Sales    $264,500  
  Purchases of merchandise inventory    $136,900  
  Selling expense    $  24,100  
  Administrative expense    $  58,700  

The net operating income for September was:
 
$41,300
 
$44,000
 
$128,600
 
$127,600 


CLICK HERE TO GET THE ANSWER !!!!

Nikkel Corporation, a merchandising company, reported the following results for July: Sales $418,000 Cost of goods sold (all variable) $175,500 Total variable selling expense $ 23,700 Total fixed selling expense $ 21,800 Total variable administrative expense $ 16,200 Total fixed administrative expense $ 34,300 The contribution margin for July is: $146,500 $361,900 $202,600 $242,500

Nikkel Corporation, a merchandising company, reported the following results for July:

  Sales    $418,000   
  Cost of goods sold (all variable)    $175,500   
  Total variable selling expense    $  23,700   
  Total fixed selling expense    $  21,800   
  Total variable administrative expense    $  16,200   
  Total fixed administrative expense    $  34,300   

The contribution margin for July is:
 
$146,500
 
$361,900
 
$202,600
 
$242,500


                                        


CLICK HERE TO GET THE ANSWER !!!!

Nikkel Corporation, a merchandising company, reported the following results for July: Sales $444,000 Cost of goods sold (all variable) $177,500 Total variable selling expense $ 22,400 Total fixed selling expense $ 24,100 Total variable administrative expense $ 10,500 Total fixed administrative expense $ 32,900 The gross margin for July is: $266,500 $176,600 $387,000 $233,600

Nikkel Corporation, a merchandising company, reported the following results for July:

  Sales    $444,000   
  Cost of goods sold (all variable)    $177,500   
  Total variable selling expense    $  22,400   
  Total fixed selling expense    $  24,100   
  Total variable administrative expense    $  10,500   
  Total fixed administrative expense    $  32,900   


The gross margin for July is:
 
$266,500
 
$176,600
 
$387,000

$233,600

 


                                        


CLICK HERE TO GET THE ANSWER !!!!

John owns a hot dog stand. He has found that his profit can be represented by the equation P(x)=-x^2+76x+84 where as P represents profits and x represents the number of hot dogs sold. How many hot dogs must he sell to earn the most profit? Bob owns a watch repair shop. He has found that the cost of operating his shop is given by C(x)=4x^2-200x+83 where c is the cost and x is the number of watches repaired. How many watches must he repair to have the lowest cost. A projectile is thrown upward so that its distance above the ground after T seconds is H(T)=-11T^2+308Tafter how many seconds does it reach it maximum height?

John owns a hot dog stand. He has found that his profit can be represented by the equation P(x)=-x^2+76x+84 where as P represents profits and x represents the number of hot dogs sold. How many hot dogs must he sell to earn the most profit?

Bob owns a watch repair shop. He has found that the cost of operating his shop is given by C(x)=4x^2-200x+83 where c is the cost and x is the number of watches repaired. How many watches must he repair to have the lowest cost.

A projectile is thrown upward so that its distance above the ground after T seconds is H(T)=-11T^2+308Tafter how many seconds does it reach it maximum height?

CLICK HERE TO GET THE ANSWER !!!!

Exercise 8-9 Impact of transactions involving operating assets on statement of cash flows. (“O” Operating activities), (“I” Investing activities), (“F” financing activities), (“N” not separately reported). Purchase of land: Proceeds from sale of land: Gain on sale of land: Purchase of equipment: Depreciation expense: Proceeds from sale of equipment: Loss on sale of equipment: Exercise 8-10 Impact of transactions involving intangible assets on statement of cash flows. (“O” Operating activities), (“I” Investing activities), (“F” financing activities), (“N” not separately reported). Cost incurred to acquire copyright Proceeds from sale of patent Gain on sale of patent Research and development costs Amortization of patent

Exercise 8-9 Impact of transactions involving operating assets on statement of cash flows.

(“O” Operating activities), (“I” Investing activities), (“F” financing activities), (“N” not separately reported).

Purchase of land:

Proceeds from sale of land:

Gain on sale of land:

Purchase of equipment:

Depreciation expense:

Proceeds from sale of equipment:

Loss on sale of equipment:

Exercise 8-10 Impact of transactions involving intangible assets on statement of cash flows.

(“O” Operating activities), (“I” Investing activities), (“F” financing activities), (“N” not separately reported).

Cost incurred to acquire copyright

Proceeds from sale of patent

Gain on sale of patent

Research and development costs

 

Amortization of patent

 

CLICK HERE TO GET THE ANSWER !!!!