ACCT 505 Week 4 Midterm (Version 3)
- (TCO A) Wages paid to an assembly line worker in a factory are a:
- (TCO A) A cost incurred in the past that is not relevant to any current decision is classified as a(n):
- (TCO A) Property taxes on a company’s factory building would be classified as a(n):
- (TCO A) When the activity level is expected to increase within the relevant range, what effects would be anticipated with respect to each of the following?
- Fixed Cost Per Unit Variable Cost Per Unit
- (TCO F) Which of the following statements is true? I. Overhead application may be made slowly as a job is worked on. II. Overhead application may be made in a single application at the time of completion of the job. III. Overhead application should be made to any job not completed at year-end in order to properly value the work in process inventory.
- (TCO F) Which of the following statements about process costing system is incorrect?
- (TCO F) Equivalent units for a process costing system using the FIFO method would be equal to:
- (TCO B) The contribution margin ratio always increases when the:
- (TCO B) Which of the following would not affect the break-even point?
- (TCO E) In an income statement prepared using the variable costing method, variable selling and administrative expenses would:
- (TCO A) The following data (in thousands of dollars) have been taken from the accounting records of Larden Corporation for the just completed year.
- (TCO F) The Illinois Company manufactures a product that goes through three processing departments. Information relating to activity in the first department during June is given below:
- (TCO B) Drake Company’s income statement for the most recent year appears below:
- (TCO E) The Dean Company produces and sells a single product. The following data refer to the year just completed:
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