ACCT 402
/ ACCT402 / ACCT/402 Week 4 Midterm exam (NEW 2016)
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HOMEWORK Description
ACCT 402 / ACCT402 / ACCT/402 Week 4 Midterm exam (NEW 2016)
1. (TCO 1) A mixed cost function has a constant component of $20,000. If
the total cost is $60,000 and the independent variable has the value 200, what
is the slope coefficient?
2. (TCO 1) Companies that take advantage of quantity discounts in
purchasing their materials have
3. (TCO 3) The best opportunity for cost reduction is
4. (TCO 3) Each month, Haddock Company has $275,000 total manufacturing
costs (20% fixed) and $125,000 distribution and marketing costs (36% fixed).
Haddock’s monthly sales are $500,000. The markup percentage on variable costs
to arrive at the existing (target) selling price is
5. (TCO 3) Which of these do antitrust laws on pricing not cover?
6. (TCO 6) Homogeneity is used to
7. (TCO 6) Information about price discounting can be useful in analyzing
revenues of customers if
8. (TCO 5) Natural Nutrients Bakery of Southfield produces three flavors of
cat morsels that have budgeted and actual sales data for a bag of a dozen of
its cat morsels as follows for December 20XX.
|
Budgeted Data
|
Actual Data
|
|||||
|
Tuna
|
ChikBits
|
ChezNips
|
Tuna
|
ChikBits
|
ChezNips
|
|
|
Bags
|
7,200
|
4,800
|
4,000
|
10,800
|
3,600
|
7,200
|
|
CM per bag
|
$2.50
|
$4.00
|
$5.00
|
$2.00
|
$3.00
|
$7.50
|
|
Cont. Margin
|
$18,000
|
$19,200
|
$20,000
|
$21,600
|
$10,800
|
$54,000
|
|
Total Contribution Margin
|
$57,200
|
$86,400
|
According to company forecasts, it was budgeting to earn a 25% market share
in total units (bags) of specialty prepared cat treats sold in December 20XX in
Southfield. Reliable industry sources indicate that the total number of bags of
cat treats sold for December 20XX in Southfield was 72,000.
The sales-quantity variance for December 20XX for Natural
Nutrients Bakery is
9. (TCO 6) Natural Nutrients Bakery of Southfield produces three flavors of
cat morsels that have budgeted and actual sales data for a bag of a dozen of
its cat morsels as follows for December 20XX.
|
Budgeted Data
|
Actual Data
|
|||||
|
Tuna
|
ChikBits
|
ChezNips
|
Tuna
|
ChikBits
|
ChezNips
|
|
|
Bags
|
7,200
|
4,800
|
4,000
|
10,800
|
3,600
|
7,200
|
|
CM per bag
|
$2.50
|
$4.00
|
$5.00
|
$2.00
|
$3.00
|
$7.50
|
|
Cont. Margin
|
$18,000
|
$19,200
|
$20,000
|
$21,600
|
$10,800
|
$54,000
|
|
Total Contribution Margin
|
$57,200
|
$86,400
|
According to company forecasts, it was budgeting to earn a 25% market share
in total units (bags) of specialty prepared cat treats sold in December 20XX in
Southfield. Reliable industry sources indicate that the total number of bags of
cat treats sold for December 200X in Southfield was 72,000.
The market-share variance for December 20XX for Natural
Nutrients Bakery is
10. (TCO 6) Fulbrite Fashions sells a line of women’s dresses. Fulbrite’s
performance report for November is shown below. The company uses a flexible
budget to analyze its performance and to measure the effect on operating income
of the various factors affecting the difference between budgeted and actual
operating income.
|
Actual
|
Budget
|
|
|
Dresses sold
|
5,000
|
6,000
|
|
Sales
|
$235,000
|
$300,000
|
|
Variable costs
|
(145,000)
|
(180,000)
|
|
Contribution margin
|
$ 90,000
|
$120,000
|
|
Fixed costs
|
(84,000)
|
(80,000)
|
|
Operating income
|
$ 6,000
|
$ 40,000
|
The effect of the sales quantity variance on Fulbrite’s contribution margin
for November is
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