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In the graph below, which depicts the relationship between units produced and total cost, the dotted line depicts which type of total cost?

Question 2 options:

a)	Variable cost

b)	Fixed cost

c)	Mixed cost

d)

None of these

For 2013, Winchester Company sold 80,000 units at a selling price of $20 per unit. Variable cost per unit was $15, and Winchester's net income for the year was $40,000. What was the amount of Winchester's fixed costs?

Question 8 options:

a)

$360,000

b)

$440,000

c)	$1,160,000

d)

$400,000

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Question 9 (3 points)

Acme Company has variable costs equal to 30% of sales. The company is considering a proposal that will increase sales by $10,000 and total fixed costs by $7,000. By what amount will net income increase?

Question 9 options:

	$0
	$3,000
	$7,000
	$4,000

Bank's Department Store has three departments: Men's, Women's and Children's. The store incurred $50,000 of store rental costs in 2013. The departments identified the following cost drivers for 2013:

Using the most appropriate cost driver, how much rental cost (rounded to the nearest dollar) should be allocated to the Women's Department? (Do not round your intermediate calculations.)

Question 11 options:

a)

$33,333

b)

$29,412

c)

$25,081

d)

$34,884

Which of the following activity costs should usually be ignored when making a decision regarding whether to eliminate a product?

Question 13 options:

a)	Product-level costs

b)	Batch-level costs

c)	Unit-level costs

d)

Facility-level costs

The costs and revenues associated with two alternatives are listed below:

Which alternative should be selected based on this information?

Question 17 options:

a)	Alternative 2 because it has a higher profit.

b)	Alternative 2 because it has the same product- & facility-level costs.

c)	Alternative 1 because it has fewer unit-level costs.

d)	Alternative 1 because it has a higher profit.

The Russell Company provides the following standard cost data per unit of product:

During the period, the company produced and sold 22,000 units incurring the following costs:

The direct labor usage variance was:

Question 20 options:

a)	$15,000 unfavorable

b)	$15,000 favorable

c)	$14,625 unfavorable.

d)

$14,625 favorable

The Russell Company provides the following standard cost data per unit of product:

During the period, the company produced and sold 22,000 units incurring the following costs:

The direct labor usage variance was:

Question 20 options:

a)	$15,000 unfavorable

b)	$15,000 favorable

c)	$14,625 unfavorable.

d)	$14,625 favorable

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Question 21 (3 points)

The Russell Company provides the following standard cost data per unit of product:

During the period, the company produced and sold 22,000 units incurring the following costs:

The direct labor price variance was:

Question 21 options:

a)	$11,000 unfavorable.

b)	$11,000 favorable

c)	$11,375 unfavorable

d)	$11,375 favorable.

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Question 22 (3 points)

The Russell Company provides the following standard cost data per unit of product:

During the period, the company produced and sold 22,000 units incurring the following costs:

The direct material usage variance was:

Question 22 options:

a)	$12,000 unfavorable

b)	$12,000 favorable

c)	$11,800 unfavorable

d)	$11,800 favorable.

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Question 23 (4 points)

Young Corporation is considering purchasing equipment that costs $80,000 and is expected to provide the following cash inflows over its five-year useful life:

What is the payback period of this investment project (rounded to the nearest year)?

Question 23 options:

a)

2 years

b)

4 years

c)

3 years

d)

6 years

The Poole Company reported the following income for 2014:

What is the company's net margin?

Question 29 options:

a)

73%

b)

40%

c)

18%

d)

27%

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Question 30 (3 points)

The following partial balance sheet is provided for Groome Company:

What is the company's debt to assets ratio?

Question 30 options:

a)

49%

b)

16%

c)

33%

d)	Cannot be determined with the information given.