Multiple Question 1. Expense A is a fixed cost; expense B is a variable cost. During the current year the activity level has increased, but is still within the relevant range. In terms of cost per unit of activity, we would expect that: [removed]A) expense B has increased. [removed]B) expense B has decreased. [removed]C) expense A has decreased. [removed]D) expense A has remained unchanged. 2. Chabud Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were: A total of 8,100 units were started and 7,300 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 70% complete with respect to materials and 40% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. The cost per equivalent unit for materials for the month in the first processing department is closest to: [removed]A) $17.33 [removed]B) $16.72 [removed]C) $18.15 [removed]D) $17.52 Management of Berndt Corporation has asked your help as an intern in preparing some key reports for August. The beginning balance in the raw materials inventory account was $33,000. During the month, the company made raw materials purchases amounting to $62,000. At the end of the month, the balance in the raw materials inventory account was $30,000. Direct labor cost was $46,000 and manufacturing overhead was $74,000. The beginning balance in the work in process account was $13,000 and the ending balance was $19,000. The beginning balance in the finished goods account was $54,000 and the ending balance was $50,000. Sales totaled $270,000. Selling expense was $18,000 and administrative expense was $49,000. 3. The net operating income for August was: [removed]A) $20,000 [removed]B) $21,000 [removed]C) $83,000 [removed]D) $87,000 4. A value chain consists of the major subassemblies that add value to a product. [removed]A) True [removed]B) False 5. Which costs will change with a decrease in activity within the relevant range? [removed]A) Total fixed costs and total variable cost. [removed]B) Unit variable cost and unit fixed cost. [removed]C) Unit fixed cost and total fixed cost. [removed]D) Unit fixed costs and total variable cost. 6. Shipping expense is $9,000 for 8,000 pounds shipped and $11,250 for 11,000 pounds shipped. Assuming that this activity is within the relevant range, if the company ships 9,000 pounds, its expected shipping expense is closest to: [removed]A) $9,972 [removed]B) $8,583 [removed]C) $10,125 [removed]D) $9,750 7. _________________ is a method of separating a mixed cost into its fixed and variable elements by fitting a regression line that minimizes the sum of the squared errors. [removed]A) least-square regression method [removed]B) quick and dirty method [removed]C) scattergraph method [removed]D) high-low method 8. Chabud Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were: A total of 8,100 units were started and 7,300 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 70% complete with respect to materials and 40% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the clo…
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