Acct. Answers to Review (exam 1)

Acct. Answers to Review (Exam 1)

1. A
2. D
3. A

1. 500,000+800,000+450,000

1. A

1. COGM= 6,200+21,000-7,100+700+18,000+32,000-1,200= 69,600
2. COGS=  COGM+ Beg. Finished- End Finished
3. COGS=  69,600+3,300-2,700
4. =70,200

1. A

1. 220,000 * (20,000/100,000)

1. D
2. A

1. Fixed/CMR=30,000/.4
2. CMR= 1-VCR
3. CMR= 1-(.6)
4. =40%

1. C

1. Unit CM/Price
2. (35-21)/35
3. 14/35
4. 40%

1. B
2. C
3. C
4. B

1. 1260+97,000-1040
2. 97,220

1. A
2. A

1. Slope= (11,400 – 10,200) / (610-510) =12
2. 11,200 = Fixed + 12*610
3. Fixed = 11,400 – (12*610)
4. Fixed = 4080

1. B

1. (Fixed + Profit) / CMR
2. = 150,000 / (540,000-378,000)/540,000)
3. $500,000

1. B.

1. CM Standard = 150, Deluxe = 200, Superior = 1000
2. CM Package = (150*8) + (200*4) + 1000 = 3000
3. Packages = Fixed/CM Packaged = 300,000/3,000 = 100
4. Standard Units = 100 *8
5. = 800

1. D
2. C
3. A

1. Per Unit Product Cost = 30
2. Gross Margin Percentage = 40%
3. 1 – GMP = .6
4. Per Unit Product Cost / .6
5. = 30/.6
6. =$50

1. A