I have a home work for Managerial Accounting Chapter 8 and 9. Multiple choices 11 questions theory of Accounting. If you are an expert tutor of accounting, no need a long time to solve it. I want you help me to solve the questions ASAP. Thanks.
Chapter 8 12.Consider the following comments about absorption- and variable-costing income statements: I. A variable-costing income statement discloses a firm's gross margin. II. Cost of goods sold on an absorption-costing income statement includes fixed costs. III. The amount of variable selling and administrative cost is the same on absorption- and variable-costing income statements. Which of the above statements is (are) true? a. I only. b. II only. c. I and II. d. II and III. e. I, II, and III. 13. Roberts Corp., which began business at the start of the current year, had the following data: Planned and actual production: 40,000 units Sales: 37,000 units at $15 per unit Production costs: Variable: $4 per unit Fixed: $260,000 Selling and administrative costs: Variable: $1 per unit Fixed: $32,000 The contribution margin that the company would disclose on a variable-costing income statement is: a. $97,500. b. $147,000. c. $166,500. d. $370,000. e. None of the other answers are correct. 14. McArthur Corp., which began business at the start of the current year, had the following data: Planned and actual production: 40,000 units Sales: 38,000 units at $15 per unit Production costs: Variable: $5 per unit Fixed: $260,000 Selling and administrative costs: Variable: $1 per unit Fixed: $32,000 The gross margin that the company would disclose on an absorption-costing income statement is: a. $0. b. $133,000. c. $166,500. d. $342,000. e. None of the other answers are correct. 15. Which of the following statements pertain to variable costing? a. This method must be used for external financial reporting. b. Fixed manufacturing overhead is attached to each unit produced. c. The income statement not does disclose a company's contribution margin. d. Variable manufacturing overhead becomes part of a unit's cost. e. None of the other answers are correct. 16. Which of the following statements pertain to both variable costing and absorption costing? a. The income statement discloses the amount of gross margin generated during the reporting period. b. Fixed selling and administrative expenses are treated in the same manner as fixed manufacturing overhead. c. Both variable and absorption costing can be used for external financial reporting. d. Variable selling costs are written-off as expenses of the accounting period. e. Fixed manufacturing overhead is attached to each unit produced. 17. Which of the following product-costing systems is/are required for tax purposes? a. Absorption costing. b. Variable costing. c. Throughput costing. d. Either absorption or variable costing. e. Either absorption, variable costing, or throughput costing. 18.Which of the following situations would cause variable-costing income to be lower than absorptioncosting income? a. Units sold equaled 39,000 and units produced equaled 42,000. b. Units sold and units produced were both 42,000. c. Units sold equaled 55,000 and units produced equaled 49,000. d. Sales prices decreased by $7 per unit during the accounting period. e. Selling expenses increased by 10% during the accounting period. Chapter 9 6. A company's plan for the issuance of stock or incurrence of debt is commonly called a: a. pro-forma budget. b. master budget. c. financial budget. d. profit plan. e. capital budget. 7. A company's expected receipts from sales and planned disbursements to pay bills is commonly called a: a. pro-forma budget. b. master budget. c. financial budget. d. profit plan. e. cash budget. 9. Which of the following budgets is prepared at the end of the budget-construction cycle? a. Sales budget. b. Production budget. c. Budgeted financial statements. d. Cash budget. e. Overhead budget. 16. Quattro began operations in April of this year. It makes all sales on account, subject to the following collection pattern: 30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for April, May, and June were $60,000, $80,000, and $70,000, respectively, what were the firm's budgeted collections for May? a. $21,000. b. $60,000. c. $69,000. d. $75,000. e. None of the other answers are correct
