Acct 505 Week 8 Final Exam - Set 3

ACCT 505 Week 8 Final Exam - Set 3

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1. Problem:

2. The gross margin of Evans Retail Stores, Inc. for the first quarter is:.........

3. The contribution margin of Evans Retail Stores, Inc. for the first quarter is:.......

4. The contribution margin of Evans Retail Stores, Inc. for the first quarter is:.......

5. The total contribution margin decreases if sales volume remains the same and:.......

6. A company has provided the following data:......

7. Wallace, Inc., prepared the following budgeted data based on a sales forecast of $6,000,000: ..........

8. The variable expense per unit is: ...........

9. The break-even point in sales dollars is: .............

10. An allocated portion of fixed manufacturing overhead is included in product costs under:

11. Absorption Variable ............

12. What is the unit product cost for the month under variable costing?

13. What is the unit product cost for the month under absorption costing?

14. What is the net income for the month under variable costing?

15. What is the net income for the month under absorption costing?

16. Orion Corporation is preparing a cash budget for the six months beginning January 1. Shown below are the company's expected collection pattern and the budgeted sales for the period. ......

17. Avril Company makes collections on sales according to the following schedule:........

18. A labor efficiency variance resulting from the use of poor quality materials should be charged to:

19. An unfavorable labor efficiency variance indicates that:

20. A favorable labor rate variance indicates that

21. The materials price variance for January is:

22. The materials quantity variance for January is:

23. The labor rate variance for January is:

24. The labor efficiency variance for January is:

25. How much is the residual income?

26. How much is the return on the investment?

27....