1.) A supervisor's salary is an example of: A.) Direct labor. B.) Variable factory overhead. C.) A...
Question:
1.) A supervisor's salary is an example of:
A.) | Direct labor. |
B.) | Variable factory overhead. |
C.) | A standard cost. |
D.) | Fixed manufacturing costs. |
2.) If the hourly wage rate actually paid during January ishigher than the standard rate, the result is:
A.) | An unfavorable labor rate variance. |
B.) | A favorable labor rate variance. |
C.) | An unfavorable labor efficiency variance. |
D.) | A favorable total labor variance. |
3.) A standard cost is the per unit cost incurred under:
A.) | Ideal operating conditions. |
B.) | Perfect operating conditions. |
C.) | Normal, but efficient operating conditions. |
D.) | Minimally acceptable operating conditions. |
4.) The total overhead variance is the difference between:
A.) | Budgeted overhead and applied overhead. |
B.) | Actual overhead and budgeted overhead. |
C.) | Actual overhead and applied overhead. |
D.) | Applied overhead and budgeted overhead. |
5.) The Parry company's breakeven point in units is 20,000.Assuming that variable costs are 30% and fixed costs are $100,000,what is the company's projected operating income if sales are$750,000?
A.) | $125,000. |
B.) | $100,000. |
C.) | $250,000. |
D,) | $400,000. |
6.) The document that provides information for the cost of goodsmanufactured is:
A.) | The job cost sheet. |
B.) | Time cards. |
C.) | Material requisition. |
D.) | Payroll check. |
7.) In a "pump-and-dump" scheme, the owners of the company:
A.) | Falsely claim the business has high growth potential. |
B.) | Artificially raise the price of the stock. |
C.) | Sell the stock at a high price. |
D.) | Falsely claim the business has high growth potential,artificially raise the price of the stock, and sell the stock at ahigh price. |
8.) Which of the following items would be included in thediscontinued operations section of the income statement?
A.) | Income or loss from operating the segment prior to itsdisposal. |
B.) | The gain or loss on disposal of the segment. |
C.) | Both the income or loss from operating the segment prior to itsdisposal, and the gain or loss on disposal of the segment. |
D.) | Only losses and not gains on the disposal of a segment. |
Expert Answer:
The detailed answer for the above question is provided below 1 D Fixed manufacturing costs Fixed manufacturing costs are costs that remain relatively constant regardless of production volume These cos... View the full answer
