POST ACC211 Unit 4 Quiz C6 Variable Costing

| June 4, 2016

Question
Question 1

Fixed manufacturing overhead is included in product costs under:

Option A

Option B

Option C

Option D

Question 2

Which of the following are considered to be product costs under variable costing?

I. Variable manufacturing overhead.

II. Fixed manufacturing overhead.

III. Selling and administrative expenses.

I.

I and II.

I and III.

I, II, and III.

Question 3

Which of the following are considered to be product costs under absorption costing?

I. Variable manufacturing overhead.

II. Fixed manufacturing overhead.

III. Selling and administrative expenses.

I, II, and III.

I and II.

I and III.

I.

Question 4

Gangwer Corporation produces a single product and has the following cost structure:

The absorption costing unit product cost is:

$95

$119

$61

$56

Question 5

Swiatek Corporation produces a single product and has the following cost structure:

The variable costing unit product cost is:

$161

$225

$153

$158

Question 6

Roy Corporation produces a single product. During July, Roy produced 10,000 units. Costs incurred during the month were as follows:

Under absorption costing, any unsold units would be carried in the inventory account at a unit product cost of:

$5.10

$4.40

$3.80

$3.50

Question 7

Cockriel Inc., which produces a single product, has provided the following data for its most recent month of operations:

There were no beginning or ending inventories. The variable costing unit product cost was:

$42

$43

$37

$48

Question 8

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:

What is the absorption costing unit product cost for the month?

$102

$130

$97

$125

Question 9

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:

What is the total period cost for the month under absorption costing?

$58,300

$37,100

$259,900

$201,600

Question 10

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:

What is the net operating income for the month under variable costing?

$21,600

$(15,200)

$8,000

$13,600

Question 11

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:

What is the net operating income for the month under absorption costing?

$5,300

$3,000

$(12,700)

$8,300

Question 12

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:

The total gross margin for the month under absorption costing is:

$42,000

$14,700

$69,000

$79,800

Question 13

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:

The total contribution margin for the month under variable costing is:

$183,600

$90,000

$70,400

$169,200

Question 14

Last year, Heidenescher Corporation’s variable costing net operating income was $63,600 and its inventory decreased by 600 units. Fixed manufacturing overhead cost was $1 per unit. What was the absorption costing net operating income last year?

$64,200

$63,000

$63,600

$600

Question 15

Sproles Inc. manufactures a variety of products. Variable costing net operating income was $90,500 last year and its inventory decreased by 3,500 units. Fixed manufacturing overhead cost was $6 per unit. What was the absorption costing net operating income last year?

$90,500

$21,000

$69,500

$111,500

Order your essay today and save 30% with the discount code: RESEARCHOrder Now