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When 10,000 units are produced, fixed costs are $14 per unit. Therefore, when 20,000 units are produced fixed costs will
A. remain at $14 per unit
B. increase to $28 per unit
C. total $280,000
D. decrease to $7 per unit
If the Manufacturing Overhead account has a debit balance at the end of a period, it means that
A. Actual overhead costs were less than overhead costs applied to jobs
B. Actual overhead costs were greater than overhead costs applied to jobs
C. Actual overhead costs were equal to overhead costs applied to jobs
D. No jobs have been completed
Kym Manufacturing provided the following information for last month
Sales $12,000
Variable costs 4,000
Fixed costs 1,000
Operating income $7,000
If sales double next month, what is the projected operating income?
A. $14,000
B. $15,000
C. $18,000
D. $19,000
SHOW WORK –
Sales $12,000 x2= 24,000
Variable costs 4,000 x2= 8,000
Fixed costs 1,000= 1,000
24,000-8,000-1,000= 15,000
The formula for the materials price variance is
A. (AQ × SP) – (SQ × SP)
B. (AQ × AP) – (AQ × SP)
C. (AQ × AP) – (SQ × SP)
D. (AQ × SP) – (SQ × AP)
Elston Corporation sells 200 shares of common stock being held as an investment. The shares were acquired six months ago at a cost of $30 a share. Elston sold the shares for $40 a share. The entry to record the sale is
OR
Beak Corporation, Eck Corporation, Ramos Corporation.
ANSWER – C
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