28 12.Which of the following represents the normal sequence in which the below budgets are prepared?...
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28 12.Which of the following represents the normal sequence in which the below budgets are prepared? A Budgeted Income Statement, Sales Budget, Budgeted Balance Sheet B. Budgeted Balance Sheet, Sales Budget, Budgeted Income Statement C. Sales Budget, Budgeted Income Statement, Budgeted Balance Sheet D. Sales Budget, Budgeted Balance Sheet, Budgeted Income Statement 13.Spartan Systems reported total sales of $300,000, at a price of $20 and per unit variable expenses of $12, for the sales of their single product. Sales Variable expenses Contribution margin..... Fixed expenses. Net operating income. Total Per Unit $20 12 $.8 A $156,000 B. $15,000 C. $19,500 D. $120,000 $300,000 180,000 120,000 100,000 $20.000 What is the amount of contribution margin if sales volume increases by 30% ? Page 5 14.Lepage Corporation has provided its contribution format income statement for January. The company produces and sells a single product. Sales (4,400 units). Variable expenses Contribution margin........ Fixed expenses. Net operating income...... $211,200 127.600 83,600 66,400 $17.200 If the company sells 4,700 units, its total contribution margin should be closest to: A $18,373 B. $89.300 C. $98,000 D. $83,600 15.Assembling a product is an example of a: A. Product-level activity. B. Unit-level activity. C. Batch-level activity. D. Organization-sustaining. 16.A company that produces a single product had a net operating income of $75,000 using variable costing and a net operating income of $95,000 using absorption costing. Total fixed manufacturing overhead was $50,000 and production was 10,000 units both this year and last year. Last year was the first year of operations. Between the beginning and the end of the year, the inventory level: A. increased by 4,000 units B. decreased by 20,000 units C. increased by 20,000 units D. decreased by 4,000 units Summer 2016 28 12.Which of the following represents the normal sequence in which the below budgets are prepared? A Budgeted Income Statement, Sales Budget, Budgeted Balance Sheet B. Budgeted Balance Sheet, Sales Budget, Budgeted Income Statement C. Sales Budget, Budgeted Income Statement, Budgeted Balance Sheet D. Sales Budget, Budgeted Balance Sheet, Budgeted Income Statement 13.Spartan Systems reported total sales of $300,000, at a price of $20 and per unit variable expenses of $12, for the sales of their single product. Sales Variable expenses Contribution margin..... Fixed expenses. Net operating income. Total Per Unit $20 12 $.8 A $156,000 B. $15,000 C. $19,500 D. $120,000 $300,000 180,000 120,000 100,000 $20.000 What is the amount of contribution margin if sales volume increases by 30% ? Page 5 14.Lepage Corporation has provided its contribution format income statement for January. The company produces and sells a single product. Sales (4,400 units). Variable expenses Contribution margin........ Fixed expenses. Net operating income...... $211,200 127.600 83,600 66,400 $17.200 If the company sells 4,700 units, its total contribution margin should be closest to: A $18,373 B. $89.300 C. $98,000 D. $83,600 15.Assembling a product is an example of a: A. Product-level activity. B. Unit-level activity. C. Batch-level activity. D. Organization-sustaining. 16.A company that produces a single product had a net operating income of $75,000 using variable costing and a net operating income of $95,000 using absorption costing. Total fixed manufacturing overhead was $50,000 and production was 10,000 units both this year and last year. Last year was the first year of operations. Between the beginning and the end of the year, the inventory level: A. increased by 4,000 units B. decreased by 20,000 units C. increased by 20,000 units D. decreased by 4,000 units Summer 2016
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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