1. Rierson Inc. produces and sells two products. Data concerningthose products for the most recent month appear below. The fixedexpenses of the entire company were $17,730. The break-even pointfor the entire company is closest to:Product T77G Product 129C$14,000SalesS19.000$9.340Variable expenses..$5.180a. $15,270b. $31,661C. $17,730d. $32,2502. The excess or deficiency of cash available over disbursements onthe cash budget is calculated as follows:a. The beginning balance less the expected cash receipts less the expected cashdisbursements.b. None of these,C. The cash available less the expected cash receipts plus the expected cashdisbursements.d. The beginning balance plus the expected cash receipts less the expected cashdisbursements.3. Below are the importance of a budget, except:a. basis for performance evaluation.b. resource allocation.C. manipulation of financial results.d. motivation for employees to achieve more than the budgeted target.4. What are the two different components of raw material variances?a. Material quantity variance and material usage varianceb. Material price variance and material spending variancec. Material price variance and material quality varianced. Material price variance and material quantity variance5. Each of the following formulas is correct except:a. variable overhead spending variance standard rate (actual hours - standardhours)b. direct labour efficiency variance = actual rate (actual hour - standard hour)C. applied fixed overhead = standard fixed overhead rate x standard hoursd. material quantity variance = standard price (actual quantity - standardquantity)

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1. Rierson Inc. produces and sells two products. Data concerning those products for the most recent month appear below. The fixed expenses of the entire company were $17,730. The break-even point for the entire company is closest to: Product T77G Product 129C Sales S14.000 S19.000 Variable expenses $5.180 $9.340 a. $15,270 b. $31,661 C. $17,730 d. $32,250

1. Rierson Inc. produces and sells two products. Data concerning those products for the most recent month appear below. The fixed expenses of the entire company were $17,730. The break-even point for the entire company is closest to: Product T77G Product 129C Sales S14.000 S19.000 Variable expenses $5.180 $9.340 a. $15,270 b. $31,661 C. $17,730 d. $32,250

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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