Ask Question, Ask an Expert


Ask Accounting Basics Expert

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.



Machine Hours













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

Have any Question? 

Related Questions in Accounting Basics

The rules and requirements for reporting and disclosing

The rules and requirements for reporting and disclosing segments and non-controlling interests within a 10-K report. Executive Summary Projects Advanced Accounting Project 1: Analysis of a 10-K 1. Explore the concepts of ...

Assignment - small business analysis and

Assignment - Small Business Analysis and Interpretation Small Business Analysis 1: The following financial statements were prepared for the management of TEDA Ltd. The statements contain some information that will be dis ...

B bakery is a family owned firm with around 70 employees

B Bakery is a family owned firm with around 70 employees and sales revenue increased to more than $ 13.5 million during the past year. It has been in business for over 50 years and supplies bread and confectionary produc ...

Accounting questioncase scenario japanese gaap vs chinese

Accounting Question: Case scenario: Japanese GAAP vs. Chinese Convergence Research and compare the convergence of China's financial reporting standards with U.S. GAAP or IAS GAAP since 1999 and respond to the following q ...

Printing and distribution of invoices does not constitute

Printing and distribution of invoices does not constitute an increase in economic resources. On the other hand, can you give examples of what should be included in REA diagram? Remember that REA specifies the domain rule ...

Practice questionsdescribe a situation in which two of the

Practice questions: Describe a situation in which two of the main accounting concepts might be in conflict. Explain what you consider the correct accounting treatment should be.

Managerial accounting assignment task- group report

Managerial Accounting Assignment Task- Group Report: "Measuring Performance and Management Control Systems" - A study of Performance Measurement in Australian Public Companies. Outcomes- a) Analyse the roles of cost and ...

Principles of accountingyou will select a company from this

Principles of Accounting You will select a company from this list, and you will analyze the company's financial performance, highlighting accounting principles and methods learned in this course. This project requires yo ...

Discussionpart 1please respond the following question no

DISCUSSION PART 1 PLEASE RESPOND THE FOLLOWING QUESTION NO LESS THEN 350 WORDS (ORIGINAL WORK, NO PLAGIARISM, 1 Reference "Financial Statement Analysis" Please respond to the following: • Evaluate at least factors that m ...

Multiple choice1 which of the following statements is

MULTIPLE CHOICE 1) Which of the following statements is CORRECT? a. One of the advantages of the corporate form of organization is that it avoids double taxation. b. It is easier to transfer one's ownership interest in a ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate