1) Which of the following statements does NOT apply to financial accounting? a) is subject to GAAP b) Is primarily meant to provide information to stockholders and creditors. c) Is subject to regulation by external bodies d) Emphasizes data that is verifiable e) Provides data on the market value of a company's assets. 2) Please see the image attached and show the work so I can understand how you did. Hilton Corporation had Sales Revenue of $1,105 for the month. Marketing Expenses for the month were $60 and Administrative Expenses were $50. During the month, Hilton purchased $250 of Raw Material and spent $400 on Direct Labor. Other manufacturing costs such supervisory salaries and utilities were $90 and Plant and Equipment Depreciation was $100. Direct materials used for the month are? a) $590 b) $830 c) $640 d) $240 e) $285 Hilton Corporation had Sales Revenue of $1,105 for the month. Marketing Expenses for the month were $60 and Administrative Expenses were $50. During the month, Hilton purchased $250 of Raw Material and spent $400 on Direct Labor. Other manufacturing costs such supervisory salaries and utilities were $90 and Plant and Equipment Depreciation was $100. Direct Labor Used for the month was? a) $240 b) $285 c) $400 d) $640 e) $830 4) Rabbit Company calculates predetermined overhead rates for each department. In the feeding department, total overhead costs were $4,410 last year and are expected to be $5,060 this coming year. There were 420 feed pens last year and plans for 460 feed pens this year. If the number of feed pens is the cost driver, calculate the amount of overhead applied for this year if there were actually 450 feed pens in operation. (Rounded to the nearest penny). a) $4,315.50 b) None of the above c) $4,950.00 d) $4,725.00 e) $5,422.50 7) which of the following pairs most accurately represents the ease of a traceability cost? a) variable cost and fixed cost b) Direct cost and indirect cost c) Sunk cost and incremental cost d) Product cost and period cost e) Standard cost and operations cost 8) which of the following would be most likely classified as a "Period" cost? a) none of the above b) An engine in a custom automobile c) Depreciation on the assembly equipment d) Factory supplies e) Advertising expense 9) The Hut sells hotdogs for $2 each. Costs associated with each hotdog are $1 of variable costs and $0.35 of fixed overhead cost allocated to each hotdog. A summer camp whose campers will be visiting the beach once during the summer wishes to buy 100 hotdogs for $1.25 each. If the $1.25 price is accepted for this special order, the total profit of the Hut will: a) none of the above b) Decrease by $10.00 c) Stay the same (no increase or decrease) d) Decrease by $65.00 e) Increase by $25.00 10) when making an analysis of a special order for a decision a) variable costs are the only consideration always b) Only relevant costs must be considered c) All the other four answers are correct d) All costs must be considered e) Fixed costs should never be considered The following data are given for the Alright Company: If the PV Factor of an annuity of $1 at 12% for 7 years is 4.564 and the PV Factor of a payment of $1 at 12% and 7 years is .452 , what is the present value of the estimated residual value? a) $83,508 b) 4.167 years c) $82,152 d) $1.356 e) $8,508 12) an increase in the discount rate: a) none of the above b) Should never be used c) Will have no effect on the present value of future cash inflows d) Will reduce the present value of future cash inflows e) Will increase the present value of future cash inflows The Global Moving Company specializes in hauling goods over long distances. Revenues and Variable Expenses depend on the number of Revenue Miles that are driven. Budget data for the next year are based on predicted total Revenue Miles of 800,000 . The Budgeted Breakeven Point in Dollars (\$) is: a) $160,000 b) $1,040,000 c) $550,000 d) $825,000 e) $110,000