A long term asset was originally purchased 3 years ago for $104,000 Depreciation on this asset so far totals $18,000 This asset would currently be listed on the Balance Sheet with a net value of 1 point $86,000 $50,000 $32,000 $68 000 For Company Q , which manufactures refrigerators, the following actual costs results for June 2020 were recorded Rent $5,000 Depreciation $2,550 Units Manufactured Sold 850 Materials Used $259, 250 Manufacturing Labour Paid (on a piecework basis) $238,000, Office Overheads Managers' Salaries $17,000 Advertising $4,250 Sale Price $650 per unit For the month of June, in order to make an operating profit income of $44,600, Company Q would have had to sold 2 points 883 units 962 units 1,050 units 1,129 units True or false The Balance Sheet lists Current Assets with the least liquid assets listed last 1 point True False Relevant Range is a term referring to 1 point the range of production where fixed costs remain constant another term used to describe fixed costs per unit the range of production in a Kaizen budgeting system the range of production where total variable costs remain unchanged For Company Q , which manufactures refrigerators, the following actual costs results for June 2020 were recorded Rent $5,000 Depreciation $2,550 Units Manufactured Sold 850 Materials Used $259,250 Manufacturing Labour Paid (on a piecework basis) $238,000, Office Overheads Managers' Salaries $17,000 Advertising $4,250 Sale Price $650 per unit For the month of June, the breakeven point in units was approximately 2 points 413 650 443 850

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A long term asset was originally purchased 3 years ago for $104,000. Depreciation on this asset so far totals $18,000. This asset would currently be listed on the Balance Sheet with a net value of

1 point

$86,000

$50,000

$32,000

$68.000

For Company "Q", which manufactures refrigerators, the following actual costs/results for June 2020 were recorded: Rent: $5,000. Depreciation: $2,550. Units Manufactured & Sold: 850. Materials Used: $259, 250. Manufacturing Labour Paid (on a "piecework" basis): $238,000, Office Overheads/Managers' Salaries: $17,000. Advertising: $4,250 Sale Price: $650 per unit. For the month of June, in order to make an operating profit/income of $44,600, "Company Q" would have had to sold

2 points

883 units

962 units

1,050 units

1,129 units

True or false: The Balance Sheet lists Current Assets with the least liquid assets listed last.

1 point

True

False

1 point

the range of production where "fixed" costs remain constant

another term used to describe fixed costs per unit

the range of production in a Kaizen budgeting system

the range of production where total "variable" costs remain unchanged

For Company "Q", which manufactures refrigerators, the following actual costs/results for June 2020 were recorded: Rent: $5,000. Depreciation: $2,550. Units Manufactured & Sold: 850. Materials Used: $259,250. Manufacturing Labour Paid (on a "piecework" basis): $238,000, Office Overheads/Managers' Salaries: $17,000. Advertising: $4,250 Sale Price: $650 per unit. For the month of June, the "breakeven point" in units was approximately

2 points

413

650

443

850