Homework 4

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School

Louisiana State University, Shreveport *

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Course

700

Subject

Accounting

Date

May 20, 2024

Type

xlsx

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42

Uploaded by JessicaRasco

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Question 1 CORRECT a. $1.78 b. $0.83 X c. $1.84 d. $1.81 $ 0.83 A soft drink bottler incurred the following factory utility cost: $9,246 for 5,200 cases bottled and $8,997 for 4,900 cases bottled. Factory utility cost is a mixed cost containing both fixed and variable components. The variable factory utility cost per case bottled is closest to: Variable factory utility cost per case bottled = change in costs at both points / change in number of cases bottled at both points
$ 9,246.00 5200 $ 8,997.00 4900
Question 2 Sales (6,000 units) Variable expenses Contribution margin Fixed expenses Net operating income a. $1,000.00 b. $3.33 c. $200.00 d. $800.00 Contribution margin per unit = contribution margin / sale units Contribution margin for increased units = increased units * contribution margin per unit Net Operating Income = contribution margin increased units - fixed expenses Net Operating Income = contribution margin original units - fixed expenses Difference increase in operating income = New NOI - Old NOI Remmel Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. If sales increase to 6,020 units, the increase in net operating income would be closest to:
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$ 300,000.00 6000 240,000 60,000 59,000 $1,000.00 6,020 X 10 60,200 1,200 1,000 200
Question 3 Sales Variable expenses Contribution margin Fixed expenses Net operating income What is total contribution margin if sales volume increases by 20%? a. $80,000 b. $200,000 c. $158,400 d. 144,000 Contribution margin ratio = Contribution margin / sales New sales = current sales * (100% + % increase in sales) Total contribution margin = new sales * contirbution margin ratio Schister Systems uses the following data in its Cost-Volume-Profit analyses:
Total $ 400,000.00 280,000 120,000 100,000 $ 20,000.00 20% X 30% $ 480,000.00 $ 144,000.00
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Question 4 a. Absorption Costing = Variable Costing Income b. Variable Costing Income > Absorption Costing Income c. Absorption Costing Income < Variable Costing Income d. Absorption Costing Income > Variable Costing Income When Number of Units Produced > Number of Units Sold,
X
Question 5 Zee Corporation operated at 100% of its capacity during the first year of its operat Selling price is $800 per unit. 800 Production costs (2,000 units): 2,000 $180,000 240,000 280,000 100,000 Operating expenses: $130,000 50,000 If 1500 units are sold during the month, what is the amount of gross profit reported 1500 a. $400,000 b. $800,000 c. $600,000 X d. $200,000 Cost per unit = Total cost / Units $ 400.00 Gross Profit = Cost per unit * new units $ 600,000.00 Direct materials Direct labor Variable factory overhead Fixed factory overhead Variable operating expenses Fixed operating expenses
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tions. Additional data is provided below: $800,000 180,000 d under Absorption Costing?
Question 6 Sales (9,000 units) Variable expenses Contribution margin Fixed expenses Net operating income The margin of safety percentage is closest to: a. 1% b. 75% c. 24% d. 6% Contribution margin ratio=Contribution margin/Sales breakeven=Fixed cost/Contribution margin ratio MOS=Total sales-Breakeven sales MOS%=MOS/Total sale Hedman Corporation has provided the following contribution format income the following information is within the relevant rang
$ 270,000.00 9000 202,500 67,500 63,750 $ 3,750.00 X 25% $ 255,000.00 $ 15,000.00 5.56% e statement. Assume that ge.
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Question 7 Sales (3,000 units) Variable expenses Contribution margin Fixed expenses Net operating income If sales decline to 2,900 units, the net operating income would be closest to: a. $1,000.00 b. $8,000.00 c. $29,000 d. $8,700 Contribution margin per Unit = contribution margin / sales units Contribution margin = new units * contribution margin per unit fixed cost net operating income Nocum Corporation has provided the following contribution format income sta following information is within the relevant range.
CORRECT $ 120,000.00 3000 90,000 30,000 21,000 $ 9,000.00 2,900 X $ 10.00 $ 29,000.00 -21,000 $ 8,000.00 atement. Assume that the
Question 8 a. 40.00% b. 4.00% c. 50.00% d. 33.33% Increase in Profitability = degree of operating leverage * increase in sales The degree of operating leverage for Zee Corporation is 4, sales are $600,000 and fixed costs increase in Zee’s sales by 10% will increase the corporation’s profitability by:
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MAYBE? 4 $ 60,000.00 $ 10,000.00 10% X 40% are $100,000. An :
Question 9 Supply costs at Coulthard Corporation's chain of gyms are listed below: March April May June July August September October November a. $0.550 per client-visit; $16,579 per month b. $1.850 per client-visit; $23,547 per month c. $0.565 per client-visit; $16,338 per month d. $1.700 per client-visit; $557 per month Variable cost per unit using high-low method = (Highest Cost - Lowest Cost) / (Highest Activity - Lowest Activity) Total Fixed Cost = (Total Mixed Cost) - (Total Variable Cost) Management believes that supply cost is a mixed cost that depends on clien estimate the variable and fixed components of this cost. Compute the var using three decimal places. Then compute the fixed component, rounding o estimates are closest to:
Client-Visits Supply Cost 12,855 $ 23,598.00 12,283 $ 23,278.00 L 13,104 $ 23,742.00 H 12,850 $ 23,607.00 12,493 $ 23,415.00 12,794 $ 23,562.00 12,686 $ 23,496.00 12,765 $ 23,541.00 13,018 $ 23,687.00 X $ 0.565 $ 16,336 nt-visits. Use the high-low method to riable component first, rounding off off to the nearest whole dollar. Those
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Question 9 Inspection costs at one of Ratulowski Corporation's factories are listed below April May June July August September October November December a. $12.89 b. $8.14 c. $7.05 d. $0.12 Variable cost per unit using high-low method = (Highest Cost - Lowest Cost) / (Highest Activity - Lowest Activity) Total Fixed Cost = (Total Mixed Cost) - (Total Variable Cost) Management believes that inspection cost is a mixed cost that de Using the high-low method, the estimate of the variable component of ins closest to:
w: Units Produced Inspection Costs 777 $ 10,176.00 Low 807 $ 10,404.00 798 $ 10,355.00 835 $ 10,665.00 822 $ 10,542.00 795 $ 10,313.00 805 $ 10,409.00 853 $ 10,795.00 High 796 $ 10,310.00 X $ 8.145 $ 3,856 epends on units produced. spection cost per unit produced is
Question 10 The following excel printout provides information to estimate overhead costs using li Coefficients Standard Ert-Stat Intercept 6035.99 1411.05 4.28 DLH 4.56 1.61 2.83 # setups 771.1 54.93 14.03 # moves 29.94 2.87 10.42 Regression Statistics Multiple R 0.9966 R-Square 0.9932 Adjusted R-Square 0.9906 Standard Error 347.96 Observations 12 The estimated fixed cost would be: a. 29.94 b. 771.1 c. 4.56 d. $6,035.99 X
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inear regression: P-Value Lower 95%Upper 95% 0.003 2782.09 9289.89 0.022 0.85 8.27 6.44E-07 644.42 897.78 6.26E-06 23.31 36.57
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Question 11 Increases and decreases in the volume of units produced (within a rel a. Will impact TFC but not UVC b. Will impact TVC but not UFC c. Will impact TVC but not TFC d. Will impact UVC but not UFC TVC = Total Variable Cost UVC = Unit Variable Cost TFC = Total Fixed Cost UFC = Unit Fixed Cost
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levant range): X
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Question 12 Sales (3,000 units) Variable expenses Contribution margin Fixed expenses Net operating income The break-even point in dollar sales is closest to: a. $237,900 b. $156,000 c. $0 d. $234,000 Contribution margin ratio = Contribution margin/Sales Break-even sales = Fixed expenses/contribution margin ratio Ploeger Corporation has provided the following contribution format income sta following information is within the relevant range.
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CORRECT $ 240,000.00 3000 156,000 84,000 81,900 $ 2,100.00 X 35% $ 234,000.00 atement. Assume that the
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Question 13 Sales (1,000 units) Variable expenses Contribution margin Fixed expenses Net operating income The break-even point in unit sales is closest to: a. 0 units b. 895 units c. 650 units d. 700 units Contribution margin per unit Break even point in units = Fixed cost / Contribution margin per unit Mishoe Corporation has provided the following contribution format income state following information is within the relevant range.
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CORRECT $ 50,000.00 1000 32,500 17,500 12,250 $ 5,250.00 X $ 17.50 $ 700.00 ement. Assume that the
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Question 14 The following data pertains to activity and utility cost for two recent periods: Activity level (units) 15,000 12,000 Utility cost $ 24,750.00 $ 21,000.00 Total Variable Cost $ 18,750.000 $ 15,000.000 Total Fixed Cost $ 6,000.00 $ 6,000.00 a. Y = $1.75 X b. Y = $3,750 + $1.75 X c. Y = $1.65 X d. Y = $6,000 + $1.25 X variable cost per unit = diff in cost / diff in units $ 1.25 Utility cost is a mixed cost with both fixed and variable components. Using the high-low method, the cost formula for utility cost is:
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diff 3,000 $ 3,750.00
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Question 15 a. $25,000.00 b. $30,000.00 c. $75,000 d. $100,000 X Fixed Cost $ 75,000.00 Expected Sales for ZeeBrain $ 50,000.00 Expected Sales for ZeeTrain $ 150,000.00 Variable Costs for ZeeBrain $ 20,000.00 Variable Costs for ZeeTrain $ 30,000.00 Overall BEP $100,000 Zee Corporation manufactures two products, ZeeBrain and ZeeTrain. Zee expects to $75,000 in fixed cost. Zee’s expected sales for ZeeBrain is $50,000 and for ZeeTra $150,000. Variable costs for ZeeBrain and ZeeTrain are $20,000 and 30,000, respec The overall BEP($) for Zee Corporation is:
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o incur ain is ctively.
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Question 16 In describing the cost formula equation, Y = a + bX, which of the following is correct: a. "a" is the fixed cost per unit b. "a" is the variable cost per unit c. "Y" is the independent variable d. "X" is the number of units
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CORRECT
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Question 17 Sales (8,000 units) Variable expenses Contribution margin Fixed expenses Net operating income The margin of safety in dollars is closest to: a. $121,600 b. $6,400 c. $16,000 d. $128,000 Contribution margin ratio = contribution margin / sales Break even in dollar sales = fixed costs / contribution margin ratio Margin of safety in dollar = actual sales - break even sales Stockmaster Corporation has provided the following contribution f the following information is within the re
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$ 320,000.00 8000 192,000 128,000 121,600 $ 6,400.00 X 40% $ 304,000.00 $ 16,000.00 format income statement. Assume that elevant range.
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Question 18 Zee Corporation was operating at 100% of capacity during its first month of oper Sales (160 units) Production costs (200 units): Operating expenses: What is the amount of the manufacturing margin that would be reported on the v a. $30,000 b. $44,000 c. $38,800 d. $4,000 Direct materials Direct labor Variable factory overhead Fixed factory overhead Variable operating expenses Fixed operating expenses
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rations with the following results: Cost per unit total units $ 160 $ 204,000.00 1275 160 204000 200 $100,000 500 160 80000 60,000 300 160 48000 40,000 200 160 32000 1,000 $201,000 $44,000.00 $12,000 2,000 14,000 variable costing income statement? x
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Question 19 Bear Publishing sells a nature guide. The following information was re Sales Variable expenses Contribution margin Fixed expenses Net operating income What is Bear's current break-even point in unit and dollars? a. 500 units and $8,000 b. 8,000 units and $500 c. 1,100 units and $8,000 d. 1,100 units and $17,600 Break even point in dollars = Fixed cost / Contribution margin ratio Break even point in units = Break even sales / Unit Sales price Contribution Margin ratio = Contribution Margin / Sales
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eported for a typical month: Total Per Unit $ 17,600.00 $ 16.00 9,680 7,920 3,600 $ 4,320.00 X 45% $ 8,000.00 500
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Question 20 Zee Corporation incurred $50,000 labor cost during February 2020 out of which $10,0 A Journal Entry to record this transaction would include: a. Debit - WIP - $60,000 b. Debit - WIP - $10,000 c. Debit - WIP - $40,000 d. Debit - WIP - $50,000
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000 was the indirect labor cost. X
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