ACC 560 Week 5 Quiz – Strayer NEW


Click On The Link Below to Purchase A+ Graded Material
Instant Download

http://budapp.net/ACC-560-Week-5-Quiz-Strayer-NEW-ACC560W5Q.htm


Week 5 Quiz 4: Chapters 5 and 6

Chapter 5

TRUE-FALSE STATEMENTS

    1.     An activity index identifies the activity that has a causal relationship with a particular cost.

Ans:, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

    2.     A variable cost remains constant per unit at various levels of activity.

Ans:, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

    3.     A fixed cost remains constant in total and on a per unit basis at various levels of activity.

Ans:, LO: 1, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

    4.     If volume increases, all costs will increase.

Ans:, LO: 1, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

    5.     If the activity index decreases, total variable costs will decrease proportionately.

Ans:, LO: 1, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

    6.     Changes in the level of activity will cause unit variable and unit fixed costs to change in opposite directions.

Ans:, LO: 1, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

    7.     For CVP analysis, both variable and fixed costs are assumed to have a linear relationship within the relevant range of activity.

Ans:, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

    8.     The relevant range of activity is the activity level where the firm will earn income.

Ans:, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

    9.     Costs will not change in total within the relevant range of activity.

Ans:, LO: 2, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

  10.     The high-low method is used in classifying a mixed cost into its variable and fixed elements.

Ans:, LO: 3, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics
  11.     A mixed cost has both selling and administrative cost elements.

Ans:, LO: 3, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

  12.     The fixed cost element of a mixed cost is the cost of having a service available.

Ans:, LO: 3, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

  13.     For planning purposes, mixed costs are generally grouped with fixed costs.

Ans:, LO: 3, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

  14.     The difference between the costs at the high and low levels of activity represents the fixed cost element of a mixed cost.

Ans:, LO: 3, Bloom: C, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

  15.     When applying the high-low method, the variable cost element of a mixed cost is calculated before the fixed cost element.

Ans:, LO: 3, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

  16.     An assumption of CVP analysis is that all costs can be classified as either variable or fixed.

Ans:, LO: 4, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

  17.     In CVP analysis, the term “cost” includes manufacturing costs, and selling and administrative expenses.

Ans:, LO: 4, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

  18.     Contribution margin is the amount of revenues remaining after deducting cost of goods sold.

Ans:, LO: 5, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting

  19.     Unit contribution margin is the amount that each unit sold contributes towards the recovery of fixed costs and to income.

Ans:, LO: 5, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting

  20.     The contribution margin ratio is calculated by multiplying the unit contribution margin by the unit sales price.

Ans:, LO: 5, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting

  21.     Both variable and fixed costs are included in calculating the contribution margin.

Ans:, LO: 5, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

  22.     A CVP income statement shows contribution margin instead of gross profit.

Ans:, LO: 5, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting

  23.     The break-even point is where total sales equal total variable costs.

Ans:, LO: 6, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting
  24.     The break-even point is where total sales equal total variable costs.

Ans:, LO: 6, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics

  25.     The break-even point is equal to the fixed costs plus net income.

Ans:, LO: 6, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Industry/Sector Perspective, AICPA FN: Measurement, AICPA PC: None, IMA: Business Economics


  26.     If the unit contribution margin is $1 and unit sales are 10,000 units above the break-even volume, then net income will be $10,000.

Comments

Post a Comment

Popular posts from this blog

ACC 206 Week 5 Mid-Term Exam – Strayer

Click on the Link Below to Purchase A+ Graded Course Material http://budapp.net/ACC-206-Accounting-Principles-II-Week-5-Mid-Term-Exam-Strayer-263.htm Chapters 10 Through 13 CHAP T E R 1 0 PL A N T A SSE T S, N A TU R A L R ESO U R C ES, A N D I N T A N G I B L EASSETS CHA P TE R ST UD YO B J EC T IVES 1. Desc r i b e h ow th ecost p rincipleap p li e s t o p lantassets. 2. Expl a in th eco n cept o f d eprecia t io n . . 3. Com p u t e p eriodicdep r ec iationus in gdi f f e rent m e t h o ds. 4. Desc r ibe th e p rocedu r ef o rrevi s ing p eriod i c d e p re c iation. 5. Disti n g u ish b e tw eenre v enueandcapitalex p e n dit u re s ,andexp l ain t heen t r ies f or e ach. 6. Exp l ainh o w t oacco u n t fo r th edis p osalofa p lantasset. 7. C o m put e p eriodic d e p leti o n o fnat u ralre s our ce s. 8. Exp l ain th ebasic i s s ues r elated t oaccou nt ing f orin t an g ibleassets. 9. In d ica t e ho w p lanta s...
Read more

CIS 513 Week 5 Midterm Exam – Strayer NEW

Click On The Link Below To Purchase A+ Graded Material Instant Download http://budapp.net/CIS-513-Midterm-Exam-Week-5-Strayer-NEW-CIS513W5E.htm Chapter 1 Through 4 Chapter 1 - Introduction to Wireless Communications TRUE/FALSE      1.   VoIP phones can carry analog data over the Internet.      2.   WirelessHD can transfer video and sound at 7 Gbps and higher.      3.   UWB WiGig has a range of up to 100 meters.      4.   The ZigBee Alliance protocols enable devices like light switches to communicate with one another.      5.   RFID technology is implemented by roadside assistance services to link a vehicle and driver to a central service center.      6.   4G technology uses 100% analog transmission for voice and data.      7....
Read more

ACC 350 Week 5 Mid-Term Exam Quiz – Strayer

Click on the Link Below to Purchase A+ Graded Course Material Instant Download http://budapp.net/ACC-350-Week-5-Mid-Term-Exam-Strayer-342.htm Chapters 1 Through 4 Chapter 1   The Accountant's Role in the Organization 1) Management accounting information focuses on external reporting.   2) Cost management is narrowly focused on a continuous reduction of costs.   3) Managers always require the information in an accounting system to be presented in the same format.  4) Modern cost accounting plays a significant role in management decision making.   5) The balance sheet, income statement, and statement of cash flows are used for financial accounting, but not for management accounting.   6) Financial accounting is broader in scope than management accounting.   7) Cost accounting measures and reports short-term, long-term, financial, and nonfinancial information.   ...
Read more