20 Accounting Questions need hep. Please see attached.

Question 2 of 20 5.0 Points The use of either absorption or variable costing will make little difference in companies: A. using just-in-time inventory methods. B. with large inventories. C. with high fixed costs. D. with high variable costs. Reset Selection Mark for Review What's This? Question 3 of 20 5.0 Points Sugartown Corporation has total sales revenues of $930,000. If its total fixed costs are $182,000 and its total variable costs are $267,000, then the total contribution margin is: A. total revenue minus total fixed costs. B. total revenue minus total variable costs. C. total variable costs minus total fixed costs. D. equal to operating income. Question 4 of 20 5.0 Points The Jones Corporation uses a process system. During the current period, 2,500 units were started and 1,100 units were completed and transferred out. Ending units were 60% complete for materials and 45% complete for conversion costs. Direct materials costs added were $35,405 and conversion costs added were $32,870. There was no beginning WIP inventory and conversion costs are added evenly throughout the process. At the end of the period, what are the total equivalent units for conversion costs? A. 1,940 B. 1,400 C. 1,100 D. 1,730 Question 5 of 20 5.0 Points The following information is provided by Adametz Company. Table 1 WIP inventory, January 1 Units started Units completed and transferred out WIP inventory, December 31 Direct materials Direct labor Manufacturing overhead 0 units 7,500 3,300 4,200 $15,500 $18,400 $9,000 The units in ending WIP inventory were 90% complete for materials and 50% complete for conversion costs. At the end of the year, what are the equivalent units for conversion costs? A. 3,750 B. 3,300 C. 5,400 D. 2,100 Question 6 of 20 5.0 Points Table 11 Direct materials Direct labor Manufacturing overhead $90,000 144,000 158,000 A company manufactures mirrors. Last month's costs were as follows. What were the conversion costs for the month? A. $302,000 B. $392,000 C. $234,000 D. $90,000 Reset Selection Question 8 of 20 5.0 Points Which of the following does NOT appear on an income statement prepared using variable costing? A. Fixed production costs B. Contribution margin C. Gross margin D. Variable production costs Reset Selection Question 9 of 20 5.0 Points The first step of the 5-step process costing procedure is. A. compute output in terms of equivalent units. B. summarize total costs to account for. C. compute the cost per equivalent unit. D. summarize the flow of physical units. Question 10 of 20 5.0 Points In process costing, ________ is/are found by taking the number of partially completed physical units and multiplying it by the percentage of the process completed. A. cost of goods sold B. equivalent units C. fixed manufacturing overhead costs D. conversion costs Question 12 of 20 5.0 Points Which of the following is unique to a process costing system? A. Work is not started on a product until an order is received. B. Direct materials, direct labor, and manufacturing overhead are assigned to the first department only. C. Costs for each process stay with that process until the goods are moved to finished goods. D. Each process has its own WIP account. Question 13 of 20 5.0 Points The contribution margin is equal to: A. sales minus cost of goods sold. B. sales minus operating expenses. C. sales minus fixed expenses. D. sales minus variable expenses. Question 14 of 20 Table 12 Beginning WIP direct materials $32,000 Beginning WIP conversion costs $20,250 Costs of materials added $384,100 Costs of conversion added $271,125 WIP beginning (50% for conver- 19,200 units sion) Units started 119,500 units Units completed and trans115,700 units ferred out WIP ending (60% for conver23,000 units sion) 5.0 Points At Hodgson Corporation, direct materials are added at the beginning of the process, and conversion costs are uniformly applied. Other details include the following. What are the total equivalent units for conversion costs? A. 127,200 B. 125,300 C. 129,500 D. 138,700 Question 15 of 20 5.0 Points On a traditional income statement, sales revenue less cost of goods sold equals: A. gross profit. B. contribution margin. C. operating income. D. operating expenses. Reset Selection Question 16 of 20 5.0 Points The representation for fixed cost per unit of activity is: A. vx divided by v. B. vx divided by y. C. y divided by x. D. f divided by x. Question 17 of 20 5.0 Points Fixed costs that are the result of previous management decisions that current managers have no control over in the short run are called ________ fixed costs. A. discretionary B. committed C. standard D. past Reset Selection Question 18 of 20 5.0 Points When predicting costs at other volumes using a cost equation derived from either the high-low method or regression analysis, managers should consider: A. outliers. B. general inflation. C. seasonality. D. All of the above Question 19 of 20 5.0 Points Total fixed costs for Purple Figs Company are $52,000. Total costs, both fixed and variable, are $160,000 if 80,000 units are produced. The fixed cost per unit at 80,000 units would be: A. $1.35/unit. B. $0.65/unit. C. $2.00/unit. D. $2.65/unit. Question 20 of 20 5.0 Points When absorption costing is used and management bonuses are related to operating income, managers are more likely to: A. decrease inventory levels. B. increase inventory levels. C. keep inventory levels consistent. D. steal from the company