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17) Consider the following linear mixed-cost function: Y = $120,000 + $2.70X Where: Y = total annual maintenance cost X = number of patient-days What does the $120,000 represent? A) variable cost per patient-day B) total variable cost C) fixed cost per patient-day D) total fixed cost 18) Consider the following linear mixed-cost function: Y = $110,000 + $5.50X Where: Y.

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5) Fixed indirect production costs affect the calculation of ________ on the absorption income statement. Fixed indirect production costs do NOT affect the calculation of ________ on the contribution income statement. A) contribution margin; gross margin B) gross margin; contribution margin C) operating income; gross margin D) contribution margin; operating income 6) Variable administrative expenses.

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2.8   Questions 1) Which statement is FALSE? A) Each different sales-mix of products has a different break-even point. B) Changes in the sales-mix of products sold affects a company's net operating profit. C) Changes in the sales-mix of products sold affects a company's contribution margin. D) If the sales-mix of products sold changes, the break-even.

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3) Today, in most manufacturing companies, workers oversee automated production processes that produce many different products. With respect to the products manufactured, the labor costs are considered to be ________. A) direct labor costs B) indirect production costs C) direct production costs D) period costs 4) To assign indirect costs to cost objects, which of.

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  4.1   Questions 1) To support managers' decisions, accountants develop cost management systems that are ________. A) also used by external users such as investors and lenders B) computer programs with specialized accounting language C) a collection of tools and techniques that identify how decisions affect costs D) composed of at least 400 cost pools 2) External.

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18) The following information is available for Kinsner Corporation: Total fixed costs$313,500 Variable costs per unit$99 Selling price per unit$154 If management has a targeted net income of $46,200, then the number of units that must be sold is ________. A) 2,036 units B) 2,336 units C) 5,700 units D) 6,540 units 19) The following information is available for.

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2.9   Questions 1) Seidner Company has the following information available: Total fixed costs$80,000 Targeted after-tax net income$18,000 Contribution margin per unit$2.00 Tax rate40% How many units must be sold to achieve the targeted after-tax net income? A) 45,400 B) 49,000 C) 55,000 D) 62,500 2) The Todd Dolhun Company has the following information available: Targeted after-tax net income$120,000 Total fixed costs$300,000 Contribution margin per.

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11) Precise but irrelevant information is worthless for decision making. 12) The degree to which information is relevant or precise often depends on the degree to which it is qualitative or quantitative. 13) Accountants are sometimes forced to trade relevant information for accurate information. 14) Imprecise but relevant information can be useful. 15) Qualitative.

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69) Using activity analysis, Arnoldson Company has identified the appropriate cost driver for maintenance costs in a factory as the number of machine hours. The maintenance costs have been observed as follows within the relevant range of 5,000 to 8,000 machine-hours. Month     Maintenance Cost   Machine Hours January$7,9005,600 February$8,5007,100 March$7,4005,000 April$8,2006,500 May$9,1007,300 June$9,8008,000 July$7,8006,200 Required: 1. Estimate the cost function using the high-low.

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31) Margaret Company has been producing and selling 100,000 units per year. They have excess capacity, and there are no beginning and ending inventories. The following budget was prepared for the next year: Selling price per unit$11.00 Direct materials per unit$5.00 Direct labor per unit$3.00 Variable manufacturing overhead per unit$1.00 Variable selling and administrative per.

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34) The following data has been assembled for Robert Company. Use the high-low method. Month         Cost       Hours January$24,4002,000 February$39,0002,200 March$35,2802,750 April$36,4003,500 May$40,0004,000 The cost function is ________ where Y = Total cost and X = Number of hours. A) Y = $3,600 + $10.40X B) Y = $8,800 + $7.80X C) Y = $21,360 + $1.52X D) Y = $26,672 + $1.84X 35) The.

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27) The following information is available for Trump Corporation: Total fixed costs$300,000 Variable costs per unit$100 Selling price per unit$200 If total fixed costs increased to $600,000, then the break-even volume in dollars would increase by ________. A) 10.0% B) 50.0% C) 100% D) 200% 28) Assume Unicorn Company has the following information available: Selling price per unit$100 Variable cost per.

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11) Which of the following is NOT a period expense in a merchandising firm? A) Selling Expense B) Administrative Expenses C) R&D Expenses D) Cost of Goods Sold 12) Period costs include selling and administrative expenses. 13) In a manufacturing company, unsold, fully complete products are called Work-In-Process Inventory. 14) Period costs become expenses during a future.

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25) Schaefer Company has no beginning and ending inventories, and reports the following data about its only product: Direct materials used$200,000 Direct labor$80,000 Fixed indirect manufacturing$100,000 Fixed selling and administrative$150,000 Variable indirect manufacturing$20,000 Variable selling and administrative$60,000 Selling price(per unit)$50 Units produced and sold10,000 Schaefer Company uses the contribution approach to prepare the income statement. What is the contribution.

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3) A merchandising firm reports ________ as a current asset on the balance sheet. A) Raw Materials Inventory B) Finished Goods Inventory C) Work-in-Process Inventory D) Merchandise Inventory 4) The computation for Cost of Goods Manufactured on the income statement is ________. (Assume there are no Work-In-Process Inventories.) A) direct materials used plus direct production costs B).

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3) Sandler Company has identified the following activities related to indirect production costs: Activity              Activity Costs    Cost Drivers Machine Setup$180,0001,500 setup hours Materials Handling$50,00012,500 pounds of materials Electric Power$20,00020,000 kilowatt hours Sandler Company has obtained the following data concerning two products: Product A     Product B Number of units produced4,00020,000 Direct materials cost$20,000$25,000 Direct labor cost$12,000$20,000 Number of setup hours100120 Pounds of materials used5001,500 Kilowatt-hours1,0002,000 Using activity-based.

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13) A manufacturer has three types of inventory that include Raw Materials Inventory, Work-In-Process Inventory and Merchandise Inventory. 14) The McCain Company manufactures several products. The McCain Company has gathered the following information for the year ended December 31, 2015: Sales$110,000 Direct materials used$10,700 Fixed indirect production costs$10,900 Variable indirect production costs$7,900 Fixed direct labor$10,300 Variable direct.

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54) Sandler Company manufactures electronic devices. The company is considering three cost drivers for measuring maintenance costs in the factory. The following cost functions have been estimated using each cost driver: Cost Driver                     Cost Function       R2 1. X = number of partsY = $20,000 + $5XR2 = 0.40 2. X = number of labor hoursY.

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19) Pilot Bank uses activity-based costing. Pilot Bank has the following activities, traceable costs, and cost drivers: Activities            Traceable Costs   Cost Drivers Open new accounts$40,0001,000 accounts Process deposits$72,000360,000 deposits Process withdrawals$100,000200,000 withdrawals The above activities are used by Downtown branch and North branch as follows: Activities           Downtown       North Open new accounts200400 Process deposits40,00020,000 Process withdrawals15,00018,000 Required: A) Compute the new account cost assigned to the.

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4.5   Questions 1) Merchandising and manufacturing companies account for ________ in the same way. A) design expenses B) customer service expenses C) selling expenses D) all of the above 2) A merchandising firm has ________ inventory account(s). A manufacturing firm has ________ inventory account(s). A) one; three B) three; one C) two; three D) three; three 3) Factory overhead does NOT.

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37) Stefanko Manufacturing has prepared the following income statement: Sales$450,000 Cost of goods sold200,000 Gross margin250,000 Operating expenses196,000 Operating income$54,000 According to company records, $100,000 of Cost of Goods Sold and $100,000 of Operating Expenses are fixed. Required: A) Compute the contribution margin. B) Compute the contribution margin ratio. C) Compute the break-even point in sales dollars. 38) Bruder Company produces.

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6) All of the following can be sources of benchmarks EXCEPT for ________. A) competitors B) organization itself C) organizations with dissimilar processes D) organizations with similar processes 7) A hospital radiology department has the following activities: Activity Number     Activity Description 1Repair X-ray equipment 2Taking X-ray with X-ray equipment 3Wait time between patients 4Repeating an X-ray because the X-ray technician forgot.

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5.2   Questions 1) When managers make decisions, the decision process used has the following steps in the order of occurrence: A) Historical and Other Information, Prediction Model, Prediction, Decision Model, Decision, Implementation, Feedback B) Historical and Other Information, Decision Model, Prediction Method, Implementation, Decision, Feedback C) Historical and Other Information, Decision Model, Prediction Method,.

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  5.1   Questions 1) Historical or past information has no ________ bearing on a decision made by management. Historical or past information can have a(n) ________ bearing on a decision made by management. A) indirect; direct B) direct; indirect C) measurable; material D) material; significant 2) Relevant information refers to ________ that will differ among the alternative.

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4) To estimate the monthly maintenance cost for the maintenance department in a hospital, the following monthly costs are available: Monthly Expense                              Costs Supervisor Salary Expense$3,000 Depreciation Expense—Maintenance Equipment$5,000 Repairs Expense—Maintenance Equipment$5,000 Supplies Expense$7,000 Wages Expense—Maintenance Workers$10,000 The Supervisor Salary Expense and the Depreciation Expense are fixed costs. The remaining expenses are variable costs. There are 1,000 patient.

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15) Gonzalez Company has no beginning and ending inventories, and reports the following data about its only product: Direct materials used$300,000 Direct labor$80,000 Fixed indirect manufacturing$100,000 Fixed selling and administrative$190,000 Variable indirect manufacturing$20,000 Variable selling and administrative$90,000 Selling price(per unit)$50 Units produced and sold10,000 Gonzalez Company uses the absorption approach to prepare the income statement. What is the gross.

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65) In a linear cost function estimated by regression analysis, the constant or intercept measures variable cost per unit of the cost driver. 66) In regression analysis, a lower coefficient of determination is better than a higher one. 67) The Penquin Company has obtained the following data: Month         Indirect Production Costs      Direct Labor Hours July$92,0954,900 August$105,0565,480 September$80,0003,000 October$99,4004,400 November$110,0006,000 December$97,4043,900 Required: A) Using.

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2) Henricks Company has the following information available: Revenue$500,000 Variable production costs$100,000 Fixed production costs$100,000 Variable selling costs$50,000 Fixed selling costs$50,000 What is the gross margin and net income? A) $200,000; $200,000 B) $250,000; $150,000 C) $300,000; $200,000 D) $400,000: $200,000 3) ________ is the excess of sales over the cost of goods sold. A) Gross margin B) Contribution-margin ratio C) Variable-cost ratio D) Contribution.

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4.9   Questions 1) In designing an activity-based cost accounting system, what is the first step? A) Collect data about costs and the physical flow of the cost-driver units. B) Determine the relationships among cost objects, activities, and resources. C) Determine the key components of the activity-based cost accounting system. D) Calculate and interpret the new.

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