1-

The formula for material cost variance is;

Group of answer choices

(SP-AP) x AQ

None

(SP x SQ) (AP x AQ)

(SQ-AQ) x SP

2-

Contribution/Sales X 100 is the formula for;

Group of answer choices

Profitability

All of the above

Contribution

Contribution Margin

3-

Sales, Administrative & Budgeted Income statement are all part of;

Group of answer choices

Financial Budget

None

Operating Budget

Both

4-

Variable cost has a direct relationship with;

Group of answer choices

Volume

Cost

Profit

Break-even

5-

One of the easiest method to separate fixed & variable cost out of mixed cost is;

Group of answer choices

Up-down method

High-Low method

Side by side method

Low-High method

6-

Income statement & contribution margin are the two methods to calculate;

Group of answer choices

Income

Break-even

None

Profit

7-

Non-manufacturing costs are better known as;

Group of answer choices

Product Cost

Mixed Cost

Direct Cost

Period Cost

8-

Smart Touch used $ 355,000 of direct materials, $ 169,000 of direct labor & $ 73,000 of manufacturing overhead during the year. The beginning WIP was $ 80,000 and the ending level of WIP was reported as $ 27,000. During the year the company manufactured 130,000 DVDs and sent them for sales. Calculate the cost of goods sold?

Group of answer choices

$ 704,000

$ 650,000

$ 740,000

$ 600,000

9-

The controllability concept talks about the clear demarcation between authority &

Group of answer choices

control

liability

responsibility

reliability

10-

The report must be;

Group of answer choices

All

Understandable

Regular

Timely