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Asplund Corporation has provided the following information: Asplund Corporation has provided the following information: Required:a. For financial reporting purposes, what is the total amount of product costs incurred to make 5,000 units?b. For financial reporting purposes, what is the total amount of period costs incurred to sell 5,000 units? Required:a. For financial reporting purposes, what is the total amount of product costs incurred to make 5,000 units?b. For financial reporting purposes, what is the total amount of period costs incurred to sell 5,000 units?

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Kneeland Corporation has provided the following information: Kneeland Corporation has provided the following information: If 10,000 units are produced, the total amount of manufacturing overhead cost is closest to: A) $186,000 B) $138,000 C) $162,000 D) $150,000 If 10,000 units are produced, the total amount of manufacturing overhead cost is closest to:


A) $186,000
B) $138,000
C) $162,000
D) $150,000

E) A) and D)
F) All of the above

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Fasheh Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its average costs per unit are as follows: Fasheh Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its average costs per unit are as follows: If 10,000 units are produced, the total amount of manufacturing overhead cost is closest to: A) $180,500 B) $134,500 C) $157,500 D) $146,000 If 10,000 units are produced, the total amount of manufacturing overhead cost is closest to:


A) $180,500
B) $134,500
C) $157,500
D) $146,000

E) A) and B)
F) None of the above

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Salomon Marketing, Incorporated a merchandising company, reported sales of $1,555,500 and cost of goods sold of $1,025,100 for December. The company's total variable selling expense was $96,900; its total fixed selling expense was $34,300; its total variable administrative expense was $71,400; and its total fixed administrative expense was $100,100. The cost of goods sold in this company is a variable cost.The gross margin for December is:


A) $530,400
B) $227,700
C) $362,100
D) $1,421,100

E) C) and D)
F) None of the above

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Perteet Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its average costs per unit are as follows: Perteet Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its average costs per unit are as follows: If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to: A) $18,100 B) $28,000 C) $21,400 D) $14,800 If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to:


A) $18,100
B) $28,000
C) $21,400
D) $14,800

E) A) and D)
F) A) and C)

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For an automobile manufacturer, the cost of a driver's side air bag purchased from a supplier and installed in every automobile would best be described as a:


A) fixed cost.
B) mixed cost.
C) step-variable cost.
D) variable cost.

E) None of the above
F) A) and B)

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Property taxes on a company's factory building would be classified as a(n) :


A) product cost.
B) opportunity cost.
C) period cost.
D) variable cost.

E) A) and B)
F) B) and C)

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Fassino Corporation reported the following data for the month of November: Fassino Corporation reported the following data for the month of November: The prime cost for November was: A) $136,000 B) $60,000 C) $105,000 D) $112,000 The prime cost for November was:


A) $136,000
B) $60,000
C) $105,000
D) $112,000

E) A) and B)
F) A) and C)

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Fiori Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its average costs per unit are as follows: Fiori Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its average costs per unit are as follows: The incremental manufacturing cost that the company will incur if it increases production from 5,000 to 5,001 units is closest to: A) $16.20 B) $10.80 C) $13.80 D) $14.30 The incremental manufacturing cost that the company will incur if it increases production from 5,000 to 5,001 units is closest to:


A) $16.20
B) $10.80
C) $13.80
D) $14.30

E) All of the above
F) None of the above

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Glew Corporation has provided the following information: Glew Corporation has provided the following information: For financial reporting purposes, the total amount of period costs incurred to sell 4,000 units is closest to: A) $6,400 B) $9,600 C) $4,000 D) $5,600 For financial reporting purposes, the total amount of period costs incurred to sell 4,000 units is closest to:


A) $6,400
B) $9,600
C) $4,000
D) $5,600

E) All of the above
F) A) and C)

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Schonhardt Corporation's relevant range of activity is 2,000 units to 6,000 units. When it produces and sells 4,000 units, its average costs per unit are as follows: Schonhardt Corporation's relevant range of activity is 2,000 units to 6,000 units. When it produces and sells 4,000 units, its average costs per unit are as follows: If 5,000 units are produced, the total amount of fixed manufacturing cost incurred is closest to: A) $16,800 B) $14,000 C) $12,600 D) $11,200 If 5,000 units are produced, the total amount of fixed manufacturing cost incurred is closest to:


A) $16,800
B) $14,000
C) $12,600
D) $11,200

E) A) and B)
F) A) and C)

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Kogler Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its average costs per unit are as follows: Kogler Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its average costs per unit are as follows: If the selling price is $29.00 per unit, the contribution margin per unit sold is closest to: A) $15.80 B) ($0.80) C) $5.75 D) $18.10 If the selling price is $29.00 per unit, the contribution margin per unit sold is closest to:


A) $15.80
B) ($0.80)
C) $5.75
D) $18.10

E) All of the above
F) C) and D)

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Shelp Corporation has provided the following information: Shelp Corporation has provided the following information: For financial reporting purposes, the total amount of period costs incurred to sell 9,000 units is closest to: A) $33,000 B) $9,000 C) $40,500 D) $49,500 For financial reporting purposes, the total amount of period costs incurred to sell 9,000 units is closest to:


A) $33,000
B) $9,000
C) $40,500
D) $49,500

E) C) and D)
F) All of the above

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A partial listing of costs incurred during March at Febbo Corporation appears below: A partial listing of costs incurred during March at Febbo Corporation appears below: The total of the product costs listed above for March is: A) $516,000 B) $68,000 C) $293,000 D) $223,000 The total of the product costs listed above for March is:


A) $516,000
B) $68,000
C) $293,000
D) $223,000

E) B) and C)
F) A) and D)

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Which of the following is correct concerning reactions to INCREASES in activity? Which of the following is correct concerning reactions to INCREASES in activity? A) Choice A B) Choice B C) Choice C D) Choice D


A) Choice A
B) Choice B
C) Choice C
D) Choice D

E) A) and D)
F) All of the above

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At a sales volume of 38,000 units, Tirri Corporation's property taxes (a cost that is fixed with respect to sales volume) total $733,400.To the nearest whole dollar, what should be the total property taxes at a sales volume of 37,200 units? (Assume that this sales volume is within the relevant range.)


A) $725,680
B) $733,400
C) $749,172
D) $717,960

E) None of the above
F) C) and D)

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Direct costs:


A) are incurred to benefit a particular accounting period.
B) are incurred due to a specific decision.
C) can be easily traced to a particular cost object.
D) are the variable costs of producing a product.

E) B) and D)
F) B) and C)

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The University Store, Incorporated is the major bookseller for four nearby colleges. An income statement for the first quarter of the year is presented below: The University Store, Incorporated is the major bookseller for four nearby colleges. An income statement for the first quarter of the year is presented below: On average, a book sells for $40.00. Variable selling expenses are $3.00 per book; the remaining selling expenses are fixed. The variable administrative expenses are 5% of sales; the remainder of the administrative expenses are fixed.The net operating income computed using the contribution approach for the first quarter is: A) $30,000 B) $180,000 C) $140,000 D) $0 On average, a book sells for $40.00. Variable selling expenses are $3.00 per book; the remaining selling expenses are fixed. The variable administrative expenses are 5% of sales; the remainder of the administrative expenses are fixed.The net operating income computed using the contribution approach for the first quarter is:


A) $30,000
B) $180,000
C) $140,000
D) $0

E) A) and B)
F) B) and D)

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Kesterson Corporation has provided the following information: Kesterson Corporation has provided the following information: If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to: A) $16,300 B) $25,600 C) $19,400 D) $13,200 If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to:


A) $16,300
B) $25,600
C) $19,400
D) $13,200

E) C) and D)
F) All of the above

Correct Answer

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Differential costs can:


A) only be fixed costs.
B) only be variable costs.
C) be either fixed or variable.
D) be sunk costs.

E) C) and D)
F) B) and D)

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