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Accounting Expert Answers & Study Resources : Page 309

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244) Stanley's Candies is considering building a new plant in Europe. It predicts sales at the new plant to be 40,000 units at $4.00/unit. Below is a listing of estimated expenses. CategoryTotal Annual Expenses% of Annual Expense that are Fixed Materials$20,00010% Labor$30,00020% Overhead$50,00040% Marketing/Admin$10,00060% A European firm was contracted to sell the product and will receive.

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  • 244) Stanley's Candies considering building a new plant in Europe.
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139) The income statement for Germain Appliances is divided by its two product lines, Toasters andMicrowaves, as follows: ToasterMicrowaveTotal Sales revenue$600,000$255,000$855,000 Variable expenses$450,000     $210,000     $660,000 Contribution margin$150,000$45,000$195,000 Fixed expenses$75,000$75,000$150,000 Operating income (loss)$75,000$(30,000)     $45,000 If Germain Appliances can eliminate fixed costs of $32,000 by discontinuing the Microwave line, then discontinuing it should result in which of the following? A) Increase in total.

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  • 139) The income statement for Germain Appliances divided by its
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  1) Irrelevant costs are costs that do not affect short-term decisions. 2) Relevant information is future data that do not differ among alternatives. 3) Management accountants gather and analyze relevant information to compare alternatives. 4) One key to analyzing short-term business decisions is to focus on relevant revenues, costs and profits. 5) One key.

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  •   1) Irrelevant costs costs that do not affect short-term decisions. 2)
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290) The HF Corporation manufactures and sells toy gyroscopes. The following data is related to sales and production of the toy gyroscopes for last year. Selling price per unit $8.00 Variable manufacturing costs per unit $1.83 Variable selling and administrative expenses per unit $4.45 Fixed manufacturing overhead (in total) $75,000 Fixed selling and administrative expenses (in total) $80,000 Units produced.

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  • 290) The HF Corporation manufactures and sells toy gyroscopes. The
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89) Assume the following amounts: Total fixed costs$24,000 Selling price per unit$20 Variable costs per unit$15 If sales revenue per unit increases to $22 and 12,000 units are sold, what is the operating income? A) $264,000 B) $60,000 C) $108,000 D) $84,000 90) If the selling price per unit is $42, the unit contribution margin is $15, and total.

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  • 89) Assume the following amounts: Total fixed costs$24,000 Selling price per unit$20 Variable
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163) Star Corporation management has budgeted the following amounts for its next fiscal year: Total fixed expenses$450,000 Selling price per unit$50 Variable expenses per unit$25 If Star Corporation spends an additional $20,000 on advertising, sales volume should increase by 3,000 units. What effect will this have on operating income? A) Increase of $75,000 B) Increase of.

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  • 163) Star Corporation management has budgeted the following amounts for
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21) The format of the income statement most useful in decision-making is which of the following? A) Absorption costing format B) Traditional format C) Contribution margin format D) Single-step format 22) Ida Enterprises is considering replacing a machine that is presently used in its production process. The following information is available: Old MachineReplacement Machine Original cost$60,000$35,000 Remaining.

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  • 21) The format of the income statement most useful in
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254) Garfield Corporation is considering building a new plant in Canada. It predicts sales at the new plant to be 50,000 units at $5.00/unit. Below is a listing of estimated expenses: CategoryTotal Annual Expenses% of Annual Expense that are Fixed Materials$50,00010% Labor$90,00020% Overhead$40,00030% Marketing/Admin$20,00050% A Canadian firm was contracted to sell the product and will receive.

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  • 254) Garfield Corporation considering building a new plant in Canada.
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204) Jackie's Snacks sells fudge, caramels, and popcorn. It sold 12,000 units last year. Popcorn outsoldfudge by a margin of 2 to 1. Sales of caramels were the same as sales of popcorn. Fixed costs for Jackie's Snacks are $14,000. Additional information follows: ProductUnit Sales PricesUnit Variable Cost Fudge$5.00$4.00 Caramels$8.00$5.00 Popcorn$6.00$4.50 Breakeven sales in dollars.

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  • 204) Jackie's Snacks sells fudge, caramels, and popcorn. It sold
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172) Lewis Enterprises management has budgeted the following amounts for its next fiscal year: Total fixed expenses$500,000 Selling price per unit$1,000 Variable expenses per unit$750 Requirements: a.If Lewis Enterprises can reduce fixed expenses by $25,000, how will breakeven sales in units be affected? b.If Lewis Enterprises spends an additional $1,000 on advertising, sales volume should increase.

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  • 172) Lewis Enterprises management has budgeted the following amounts for
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51) Samson Incorporated provided the following information regarding its only product: Sale price per unit$50.00 Direct materials used$160,000 Direct labor incurred$185,000 Variable manufacturing overhead$120,000 Variable selling and administrative expenses$70,000 Fixed manufacturing overhead$65,000 Fixed selling and administrative expenses$12,000 Units produced and sold20,000 Assume no beginning inventory Assuming there is excess capacity, what would be the effect on operating income of accepting.

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  • 51) Samson Incorporated provided the following information regarding its only
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41) Marie's Magic Shoppe provides the following information about its single product. Targeted operating income$38,000 Selling price per unit$25.00 Variable cost per unit$12.00 Total fixed cost$85,000 What is the contribution margin ratio? A) 192% B) 52% C) 13% D) 48% 42) Antonio's Flowers sells bouquets for $65 each. The variable costs for each kit are $45. The total contribution margin.

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  • 41) Marie's Magic Shoppe provides the following information about its
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67) Jeff's Widget Corporation produces and sells a part used in the production of bicycles. The unit costs associated with this part are as follows: Direct materials$.14 Direct labor.30 Variable manufacturing overhead.20 Fixed manufacturing overhead.05 Total cost $.69 Saturn Company has approached Jeff's Widget Corporation with an offer to purchase 20,000 units of this part at.

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  • 67) Jeff's Widget Corporation produces and sells a part used
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61) Pluto Incorporated provided the following information regarding its single product: Direct materials used$240,000 Direct labor incurred$420,000 Variable manufacturing overhead$160,000 Fixed manufacturing overhead$100,000 Variable selling and administrative expenses$60,000 Fixed selling and administrative expenses$20,000 The regular selling price for the product is $80. The annual quantity of units produced and sold is 40,000 units (the costs above relate.

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  • 61) Pluto Incorporated provided the following information regarding its single
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129) Boots Plus has two product lines: Hiking boots and Fashion boots. Income statement data for the most recent year follow: TotalHikingFashion Sales revenue$480,000$340,000$140,000 Variable expenses355,000235,000120,000 Contribution margin125,000105,00020,000 Fixed expenses76,000 38,000 38,000 Operating income (loss)$49,000$67,000$(18,000) Assuming the Fashion line is discontinued, total fixed costs remain unchanged, and the space formerly used to produce the Fashion line is used to.

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  • 129) Boots Plus has two product lines: Hiking boots and
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293) The following data is related to sales and production of the Tauro Corporation for last year. Selling price per unit $60.00 Variable manufacturing cost per unit $25.00 Variable selling and administrative expense per unit $6.00 Fixed manufacturing overhead (in total) $50,000 Fixed selling and administrative expenses (in total) $8,000 Units produced during year 10,000 Units sold during year 8,000 Units in beginning inventory 0 Units.

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  • 293) The following data related to sales and production of
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