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## Accounting

 Accounting Basics Cost Accounting Financial Accounting Managerial Accounting Auditing Taxation

1. Given the following cost and activity observations for Wondrous Company's utilities, utilize high-low method to compute Wondrous' variable utilities costs per machine hour.

 Cost Machine Hours March \$3,100 15,000 April 2,700 10,000 May 2,900 12,000 June 3,500 18,000

a. \$10.00

b. \$.67

c. \$.10

d. \$.63

2. Variable costs as percentage of, sales for Leamon Inc. are 75%, current sales are \$600,000, and fixed costs are \$110,000. How much will operating income change if sales rise by \$40,000?

a. \$30,000 decrease

b. \$10,000 decrease

c. \$30,000 increase

d. \$10,000 increase

3. If variable costs per unit decreased as of decrease in utility rates, break-even point would:

a. Increase

b. Decrease

c. Increase or decrease, depending upon percentage increase in utility rates

d. Remain the same

4. Suppose that Crowley Co. sold 8,000 units of Product A and 2,000 units of Product B during the past year. Unit contribution margins for Products A and B are \$20 and \$45 respectively. Crowley has fixed costs of \$350,000. Break-even point in units is:

a. 10,769 units

b. 14,000 units

c. 25,278 units

d. 8,000 units

5. If sales are \$300,000, variable costs are 75% of sales, and operating income is \$40,000, determine the operating leverage?

a. 1.333

b. 0

c. 7.500

d. 1.875

Accounting Basics, Accounting

• Category:- Accounting Basics
• Reference No.:- M917178

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