ACCT 505

ACCT 505 PRACTICE QUIZ 2 Student: ___________________________________________________________________________ 1. Return on investment (ROI) can be decomposed into the asset turnover and the A. gross margin ratio. B. profit margin ratio. C. operating margin ratio. D. contribution margin ratio. 2. How will decreases in the following items affect return on investment (ROI)? A. a B. b C. c D. d 3. The CJP Company produces 10,000 units of item S10 annually at a total cost of $190,000. Th...

ACCT 505 WEEK 2 QUIZ 1 1. TCO F) Computing unit product costs involves averaging in: Job-Order Costing Process Costing A Yes No B Yes Yes C No Yes D No No (Points : 5) Choice A. Choice B. Choice C. Choice D. 2. (TCO F) Luft Company uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below: Units Percent Complete with respect to Conversion Beginning work in process inventory 11,000 9...

ACCT 505 PRACTICE QUIZ 2 Student: ___________________________________________________________________________ 1. Return on investment (ROI) can be decomposed into the asset turnover and the A. gross margin ratio. B. profit margin ratio. C. operating margin ratio. D. contribution margin ratio. 2. How will decreases in the following items affect return on investment (ROI)? A. a B. b C. c D. d 3. The CJP Company produces 10,000 units of item S10 annually at a total cost of $190,000. Th...

ACCT 505 CHAPTER 1 SELFSTUDY QUIZ 1 CORRECT Managerial accounting is concerned with: A) reporting financial information to stockholders. B) reporting financial information to regulators. C) providing information for use within the organization. D) the financial consequences of past activities. Feedback: Managerial accounting is concerned with providing information to managers for use within the organization. 2 CORRECT Which of the following statements is not correct? A) A plan...

ACCT 505 WEEK 8: FINAL EXAM GUIDE 1. (TCO E) Complying with regulations is a(n) (Points : 5) batch-level activity. product-level activity. unit-level activity. organization sustaining activity. 2. (TCO G) Given the following data, what would ROI be? Sales $90,000 Net operating income $18,000 Contribution margin $40,000 Average operating assets $100,000 Stockholder's equity $250,000 (Points : 5) 7.2% 20.0% 18.0% 44.4% Page 2 1. (TCO C) Madlem, Inc., produces and sells a...

Land & Nature Jerky Analysis Individual Assignment Please be sure to show your work (points will depend upon my being able to tell what you did). 1) (6 points) We went over incremental revenue to cost in class. Please compute the ratios for 2018 for a) trade promotions and b) consumer promotions. Please compare each to the industry average. 2) (5 points) We went over the Return-on-Marketing-Investment (ROMI) in class. Please provide the ROMI for 2018 and 2019 for BOTH tr...

ACCT 505 WEEK2 QUIZ 1. (TCO B) Some companies use process costing and some use job-order costing. Which method a company uses depends on its industry. Several companies in different industries are listed below. i. Specialty coffee roaster (roasts small batches of specialty coffee beans) ii. Custom aircraft builder iii. Brick manufacturer iv. Microbrewery that produces a number of specialty beers v. Steel company making chain link fences from iron ore vi. Breakfast cereal manufacturer For each co...

Chapter 14 Problems: 14-27, 14-29, 14-35, 14-36 14-27 Direct Materials Price and Usage Variances DES Company manufactures folding chairs. Direct materials include hard plastic for the seat and back and metal beams for the legs. The standard cost sheet for a single chair includes the following direct materials information: Material Quantity Cost per Unit Total Cost Hard plastic 2 sheets $2.65 per sheet $5.30 Metal beams 4 beams $1.20 per beam 4.80 $10.10 Table Summary: Summa...

1. 10-26 Budgeted Cash Receipts and Cash Disbursements Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash sales $100,000 $120,000 $80,000 Credit sales 100,000 150,000 90,000 Total $200,000 $270,000 $170,000 Past experience shows that 5 percent of credit sales are uncollectible. Of the credit sales that are collectible, 60 percent are collecte...

1. Financial Statements: Develop an Income Statement for 20XX, Cash Flow Statement for 20XX, and Balance Sheet as of the end of 20XX based on the data provided below for year 20XX. All sales are collected when the sale is made and all expenses are paid when the expense is incurred. Explain the purpose of each financial statement. a. Income Statement Data for 20XX: • Units produced and sold = 420 • Sales ($80 per unit selling price) = $33600 • Cost of goods sold ($30 per unit, all var...