1.If a products total cost is $100 and the prime cost is $80 what is the overhead cost? A. $20 b. $50 c. $30 d. None of the above

2.If the cost per equivalent unit is $1.50 how many physical units are there if the total cost is $31,500 and the physical units are 80% complete? A. 26,250 b. 27,250 c. 28,250 d. None of the above

3.Indirect material costs are classified as: a. Direct labor b. Direct materials c. Fixed overhead d. None of the above

4.Rock Stone LLC uses variable costing and absorption costing. Using the absorption costing income statement direct materials are: a. Inventoriable b. Not inventoriable

5.An income statement using the variable cost format shows the: a. Net income b. Contribution margin c. Both A and B d. None of the above

6.The breakeven is 2000 units. The fixed cost are $24,000. What is the contribution margin per unit? A. $10 b. $11 c. $12 d. none of the above

7.Smith LLC sells inexpensive toolkits. Smith sells 2 models, model A and model B. Model As selling price is $20 and has a variable cost of $14. Model B has a selling price of $30 and has a variable cost of $20. Typically Smith sells three times as many model Bs as model As. Fixed costs are $270,000. How many model Bs must Smith sell to breakeven? A. 21,500 b. 22,500 c. 23,500 d. None of the above

8.Charles LLC sells inexpensive toolkits. Charles sells 2 models, model A and model B. Model As selling price is $20 and has a variable cost of $14. Model B has a selling price of $30 and has a variable cost of $20. Typically Charles sells three times as many model Bs as model As. Fixed costs are $270,000. How many units are required to breakeven? A. 20,000 b. 30,000 c. 40,000 d. None of the above

9.Ellision LLC uses variable costing and absorption costing. In the variable costing income statement which of the following is not a period cost? A. Fixed administrative expenses b. Fixed Manufacturing overhead c. Variable manufacturing overhead d. None of the above

10.If Ezra collects 80% of its credit sales in the month of the sale and 20% in the month after the sale how much will Ezra collect in March on a $220,000 credit sale in January? A. $176,000 b. $44,000 c. $88,000 d. none of the above

11.Montson, Inc. produces a product requiring three square feet at $6 per square foot. If the desired ending inventory is $18,000 and the beginning inventory is $36,000, how many units must Montson produces to make direct materials purchases $54,000? A. 3,000 b. 4,000 c. 1,000 d. cannot tell from data given