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# 5. (TCO 3) Equivalent units are calculated by (Points : 4)

### Resolved Question:

5. (TCO 3) Equivalent units are calculated by (Points : 4)
taking the units needed to complete the beginning inventory, adding units started and taking the equivalent units in ending inventory
taking the units completed plus the equivalent units in ending inventory.
taking the total units to account for and subtracting equivalent units in ending inventory
taking units started plus units transferred out.

6. (TCO 3) The Nazareth Company’s mixing department incurred conversions costs of \$650,820 during January, after recording a beginning Work in Process inventory of \$30,430 for conversion costs. Fifty-four thousand units were transferred out of the department and the ending inventory consisted of 2,500 units that are 20% complete with respect to conversion. What is the conversion cost per equivalent unit? (Points : 4)
\$12.50
\$12.05
\$12.17
\$12.62

7. (TCO 4) The range of activity for which estimates of cost behavior are likely to be accurate is the (Points : 4)
incremental range
margin of safety
relevant range
range of opportunity

8. (TCO 4) Beaudreaux Motors is operating at its break-even point of 16,000 units. Which of the following statements is not true? (Points : 4)
The amount of the company’s total costs equals the amount of its revenues.
The company’s fixed costs equal its variable costs.
The company’s profit equals zero.
Assuming no other changes, if the company sold more units, it would earn a profit.

9. (TCO 5) Full costing (Points : 4)
is the same as absorption costing.
considers fixed manufacturing overhead as part of the cost of inventory.
often does not provide the information needed for C-V-P analysis.
All of the above choices are correct.

10. (TCO 5) If the number of units sold is less than the number of units produced (Points : 4)
full costing and variable costing will yield the same net income.
full costing will assign some fixed manufacturing overhead to the units in the ending inventory.
net income will be higher under variable costing than under full costing.
inventory levels will decrease.

11. (TCO 6) Cost-plus contracts are common in which of the following industries? (Points : 4)
Manufactured home builders
Soft drink bottlers
Defense contractors
Newspaper publishers

12. (TCO 6) Which of the following steps is not involved in the ABC approach? (Points : 4)
Identify activities which cause costs to be incurred.
Allocate costs to products based on activity usage.
Group costs of activities into cost pools.
Improve processes based on benchmarking

13. (TCO 7) Fixed costs that will be eliminated if a particular course of action is undertaken are called (Points : 4)
optional costs
opportunity costs
direct costs
avoidable costs

3. (TCO 8) Which of the following are relevant in deciding whether to accept or reject a special order? (Points : 4)
The impact the order will have on existing business.
The price that will be charged on the special order.
The incremental cost of filling the special order.
All of the above.
6. (TCO 10) In a bottom-up approach to budgeting (Points : 4)
the CFO alone determines the budget.
only the budget for the next month is prepared.
lower level managers are the primary source of budget information.
the production budget is prepared before the sales budget.

7. (TCO 10) The amount of direct material that must be purchased during a period depends on the amount of direct material (Points : 4)
needed for production.
available in the beginning inventory.
desired as ending inventory.
All of the above are correct.
Submitted: 2 years ago.
Category: Multiple Problems
Expert:  Mr. Gregory White replied 2 years ago.

Hello and thanks so much for requesting me again for your business homework needs.

I am working on these right now and will have back to you in just a short bit.

:-)

Customer: replied 2 years ago.

Thank you, XXXXX XXXXX fit these other ones, they are the last. can you do these too?

 8. (TCO 10) The difference between standard costs and budgeted costs is that standard costs (Points : 4)

refer to a single unit while
budgeted costs refer to the cost, at standard, for the total number of budgeted
units.

are calculated under ideal
conditions, while budgeted costs are calculated for attainable
conditions.

are calculated for material
while budgeted costs are calculated for labor.

are part of the management
accounting system, while budgets are part of the financial accounting
system.

 9. (TCO 10) In general, an unfavorable material variance arises from (Points : 4)

using more material than
planned.

paying a higher price for
material than planned.

Both A and
B

None of the above

 10. (TCO 10) Which of the following is a responsibility that distinguishes an investment center manager from a profit center manager? (Points : 4)

Setting prices for
products

Controlling
costs

Generating
revenues

Significant influence over
investment decisions

 11. (TCO 10) Which of the following is not an advantage of decentralization for a company? (Points : 4)

Subunit managers have better
information.

Subunit managers will act to
benefit the organization as a whole.

Subunit managers can respond
quicker to changing circumstances.

training to move into top level management
positions.

 12. (TCO 10) Asset turnover is a measure of (Points : 4)

how quickly a company is moving
its inventory.

how quickly a company is turning
it accounts receivable into cash.

the overall efficiency with
which the company uses its assets to generate
revenues.

how rapidly the market believes
the company will grow.
Expert:  Mr. Gregory White replied 2 years ago.
Got them.. no problem
Expert:  replied 2 years ago.

All the best in your studies. Again, feel free to request me anytime for your business/finance homework needs.

:-)

Mr. Gregory White, Master's Degree
Satisfied Customers: 4786
Experience: M.A., M.S. Education / Educational Administration

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