Essay on Acct 304 Final Exam 100% Correct Answers

1124 Words Dec 23rd, 2015 5 Pages
ACCT 304 Final Exam 100% Correct Answers

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1. If a predetermined overhead rate is not employed and the volume of production is increased over the level planned, the cost per unit would be expected to
A. Decrease for fixed costs and remain unchanged for variable costs.
B. Remain unchanged for fixed costs and increase for variable costs.
C. Decrease for fixed costs and increase for variable costs.
D. Increase for fixed costs and increase for variable costs.
1. If fixed costs decrease while variable cost per unit remains constant, the contribution margin will be
A. Unchanged
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The inspection costs are fixed; however, the adjustments necessitated by errors found during inspection account for the variable portion of the maintenance costs. Information for the first Malayan quarter is as follows: Direct Labor Hours Maintenance Costs
January 34,000 P61,000
February 31,000 58,500
March 34,000 61,000 What is the fixed portion of Almond Company’s maintenance expense, rounded to the nearest pesos?
A. P28,330 C. P37,200
B. P32,677 D. P40,800
1. [iii]. If there were 30,000 pounds of raw material on hand on January 1, 60,000 pounds are desired for inventory at December 31, and 180,000 pounds are required for annual production, how many pounds of raw material should be purchased during the year?
A. 150,000 pounds C. 120,000 pounds
B. 240,000 pounds D. 210,000 pounds
1. [iv]. The Avelina Company has the following historical pattern on its credit sales.
70 percent collected in month of sale
15 percent collected in the first month after sale
10 percent collected in the second month after sale
4 percent collected in the third month after sale
2 percent uncollectible The sales on

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