Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

1) 10% change in firm's revenues is probable to result in change of more than 10% in firm's operating income because: 

i) Not all of firm's costs will change in proportion to revenue change

ii) Firm has financial leverage

iii) Contribution margin ratio will change in proportion to revenue change

iv) Only fixed expenses will change in proportion to the revenue change

2) Cost behaviour refers to:

i) Costs that are both good and bad

ii) costs that increase at a quicker rate than others

iii) costs that decrease at a quicker rate than others

iii) Costs that are variable or fixed

iv) None of the above

3) When high-low method of estimating a cost behaviour pattern is used:

i) Cost and volume data should be reviewed for outliers

ii) Direct result of high-low calculations is fixed expense amount

iii) Highest and lowest sales price and volume amounts are used in the calculation

iv) the resulting cost formula will describe total cost accurately for every value between the high and low volumes

4) Shift in \ amount of manufacturing overhead costs applied to mix of products made which happens when using single cost driver rate as compared to using activity-based costing rates is called as:

i) Under applied overhead

ii) Over applied overhead

iii) Cost absorption

iv) Cost distortion

5) Excess of cost of goods manufactured over cost of goods sold for period represents:

i) Increase in gross profit

ii)  Decrease in work in process inventory

iii) Over applied manufacturing overhead

iv) Increase in finished goods inventory

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M916557

Have any Question? 


Related Questions in Accounting Basics

Accountingflexible budgets and cost variances please

Accounting Flexible Budgets and Cost Variances: Please respond to one of the following: Option 1 Suggest how management can use the real-time variance data analysis to improve operations. Evaluate the potential risk that ...

Taskyou are required to complete all questions in the same

Task You are required to complete all questions, in the same sequence as listed below, and submit all workings. Follow the assignment requirements (refer below to the Requirements section above) very closely. Question 1 ...

Question 1if total liabilities are 1000 and total assets

Question 1 If total liabilities are $1,000 and total assets are $8,000, owner's equity must be A. $7,000. B. $3,000. C. $10,000. D. $13,000. Question 2 If total assets are $30,000 and total liabilities are $18,000, capit ...

- discuss the pros and cons of leasing vs purchasing a

- Discuss the pros and cons of leasing vs purchasing a fleet of business vehicles for a client's business, (assume the loan rate on purchasing the vehicles is 6% and the implicit interest rate in the lease is also 6%). - ...

Maher inc reported income from continuing operations before

Maher Inc. reported income from continuing operations before taxes during2014 of $790,000. $790,000 Additional transactions occurring in 2014 but not considered in the $790,000 are as follows. 1. The corporation experien ...

Assignment descriptiona manufacturing company is thinking

Assignment Description A manufacturing company is thinking of launching a new product. The company expects to sell $950,000 of the new product in the first year and $1,500,000 each year thereafter. Direct costs including ...

Question 1the following information relates to the

Question 1 The following information, relates to the imputation credit account (ICA) for Killorglin Park Fair Ltd ("Killorglin Park") for the year ending 31 March 2016. (i) The shareholders as at 31 March 2015 were Donna ...

Answer the following questionduring 2012 nasa co produced a

Answer the following question. During 2012, NASA Co. produced a new line of computers that carry a three-year warranty against manufacturer's defects. Based on industry experience, NASA Co. estimated warranty costs at 1% ...

Discussionpart 1 please respond the following question no

Discussion Part 1 please respond the following question no less then 350 words (original work, no plagiarism, 1 reference "learning experience and application of knowledge" please respond to the following: • Assume you h ...

Question 1a firms legal capital is defined as the par value

Question 1 A firm's legal capital is defined as the par value of its common stock. The following table represents a scaled version of the equity account of FIRM XYZ: Common stock at par R 136586 Paid-in capital in excess ...

  • 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

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro