Accounting 102 - Managerial Accounting » Fall 2022 » CH 1 Quiz
Need help with your exam preparation?
Get Answers to this exam for $6 USD.
Get Answers to all exams in [ Accounting 102 - Managerial Accounting ] course for $25 USD.
Existing Quiz Clients Login here
Question #1
The following cost data pertain to the operations of Quinonez Department Stores, Incorporated, for the month of September. Corporate headquarters building lease - $ 78,700 Cosmetics Department sales commissions-Northridge Store - $ 5,730 Corporate legal office salaries -$ 64,400 Store manager's salary-Northridge Store - $ 19,000 Heating-Northridge Store - $ 12,800 Cosmetics Department cost of sales-Northridge Store -$ 36,700 Central warehouse lease cost - $ 10,800 Store security-Northridge Store -$ 20,100 Cosmetics Department manager's salary-Northridge Store -$ 4,270 The Northridge Store is just one of many stores owned and operated by the company. The Cosmetics Department is one of many departments at the Northridge Store. The central warehouse serves all of the company's stores. What is the total amount of the costs listed above that are direct costs of the Cosmetics Department?
A.
$36,700
B.
$98,600
C.
$46,700
D.
$42,430
Question #2
The following costs were incurred in May: Direct materials - $42,700 Direct labor -$29,400 Manufacturing overhead - $27,300 Selling expenses - $23,600 Administrative expenses - $33,700 Conversion costs during the month totaled:
A.
$156,700
B.
$72,100
C.
$56,700
D.
$70,000
Question #3
At a sales volume of 40,000 units, Choice Corporation's sales commissions (a cost that is variable with respect to sales volume) total $492,000. To the nearest whole dollar, what should be the total sales commissions at a sales volume of 39,100 units? (Assume that this sales volume is within the relevant range.) (Round intermediate calculations to 2 decimal places.)
A.
$503,325
B.
$492,000
C.
$480,930
D.
$486,465
Question #4
At a sales volume of 39,500 units, Choice Corporation's sales commissions (a cost that is variable with respect to sales volume) total $505,600. To the nearest whole cent, what should be the average sales commission per unit at a sales volume of 41,900 units? (Assume that this sales volume is within the relevant range.)
A.
$12.80
B.
$13.07
C.
$12.07
D.
$13.59
Question #5
Erkkila Incorporated reports that at an activity level of 6,600 machine-hours in a month, its total variable inspection cost is $426,230 and its total fixed inspection cost is $188,301. What would be the average fixed inspection cost per unit at an activity level of 6,900 machine-hours in a month? Assume that this level of activity is within the relevant range.
A.
$37.29
B.
$28.53
C.
$93.11
D.
$27.29
Question #6
Bolka Corporation, a merchandising company, reported the following results for October: Sales -$ 427,000 Cost of goods sold (all variable) - $ 173,400 Total variable selling expense -$ 21,200 Total fixed selling expense -$ 18,900 Total variable administrative expense -$ 9,600 Total fixed administrative expense -$ 36,300 The gross margin for October is
A.
$222,800
B.
$371,800
C.
$253,600
D.
$167,600
Question #7
Bolka Corporation, a merchandising company, reported the following results for October: Sales -$ 477,000 Cost of goods sold (all variable) -$ 176,000 Total variable selling expense -$ 19,900 Total fixed selling expense -$ 24,000 Total variable administrative expense -$ 10,400 Total fixed administrative expense -$ 36,800 The contribution margin for October is:
A.
$270,700
B.
$209,900
C.
$416,200
D.
$301,000
Need help with your exam preparation?
Get Answers to this exam for $6 USD.
Get Answers to all exams in [ Accounting 102 - Managerial Accounting ] course for $25 USD.
Existing Quiz Clients Login here