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Bus 475 Final Exam 600 (Questions and Answers)

  • Date Submitted: 10/18/2015 02:01 AM
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BUS 475 Final Exam 600 (Questions And Answers)
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1)       One of Astro Company's activity cost pools is machine setups, with estimated overhead of $150,000. Astro produces sparklers (400 setups) and lighters (600 setups). How much of the machine setup cost pool should be assigned to sparklers?

2)       A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $80; Second purchase $95; Third purchase $85. If the company sold two units for a total of $240 and used FIFO costing, the gross profit for the period would be _____.

3). If a company reports a net loss, it __________.

Will not be able to make capital expenditures
Will not be able to pay cash dividends
Will not be able to get a loan
May still have a net increase in cash
4). As Plant Controller, you are trying to determine which costs over which you have the most control on a day to day basis. Your goal is to achieve better profitability. The Plant Operations Manager suggests that overhead is the easiest area to directly reduce costs. Which of the following items would be classified as manufacturing overhead?

The western division’s vice president’s salary
General corporate liability insurance
Cost of landscaping the corporate office
Factory janitor
5)       Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s breakeven point?

2,133 units
6,200 units
4,600 units
6) Of the following companies, which one would not likely employ the specific identification method for inventory costing?



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