POST ACC211 UNIT 1 Quiz C1 Managerial Accounting and Cost Concepts

| June 13, 2016

Question
QUESTION 1

A partial listing of costs incurred at Backes Corporation during November appears below:

The total of the product costs listed above for November is:

$77,000

$348,000

$592,000

$244,000

Question 2

A partial listing of costs incurred during December at Gagnier Corporation appears below:

The total of the period costs listed above for December is:

$89,000

$310,000

$325,000

$399,000

Question 3

A partial listing of costs incurred during December at Gagnier Corporation appears below:

The total of the product costs listed above for December is:

$310,000

$89,000

$635,000

$325,000

Question 4

At an activity level of 4,400 units in a month, Goldbach Corporation’s total variable maintenance and repair cost is $313,632 and its total fixed maintenance and repair cost is $93,104. What would be the total maintenance and repair cost, both fixed and variable, at an activity level of 4,600 units in a month? Assume that this level of activity is within the relevant range.

$420,992

$425,224

$415,980

$406,736

Question 5

At an activity level of 5,300 machine-hours in a month, Clyburn Corporation’s total variable maintenance cost is $114,268 and its total fixed maintenance cost is $154,336.

What would be the average fixed maintenance cost per unit at an activity level of 5,600 machine-hours in a month? Assume that this level of activity is within the relevant range.

$50.68

$27.56

$35.79

$29.12

Question 6

Green Company’s costs for the month of August were as follows: direct materials, $27,000; direct labor, $34,000; selling, $14,000; administrative, $12,000; and manufacturing overhead, $44,000. The beginning work in process inventory was $16,000 and the ending work in process inventory was $9,000. What was the cost of goods manufactured for the month?

$105,000

$132,000

$138,000

$112,000

Question 7

Corcetti Company manufactures and sells prewashed denim jeans. Large rolls of denim cloth are purchased and are first washed in a giant washing machine. After the cloth is dried, it is cut up into jean pattern shapes and then sewn together. The completed jeans are sold to various retail chains.

Which of the following terms could be used to correctly describe the cost of the soap used to wash the denim cloth?

Direct Cost – Yes; Product Cost – Yes

Direct Cost – Yes; Product Cost – No

Direct Cost – No; Product Cost – Yes

Direct Cost – No; Product Cost – No

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