I need all three of these 20 question multiple choice question tests answered.

Student ID: 22039100 Exam: 061402RR - Budget Analysis and Performance Measurement in Decision Maki When you have completed your exam and reviewed your answers, click Submit Exam. Answers will not be recorded until you hit Submit Exam. If you need to exit before completing the exam, click Cancel Exam. Questions 1 to 20: Select the best answer to each question. Note that a question and its answers may be split across a page break, so be sure that you have seen the entire question and all the answers before choosing an answer. 1. The following standards for variable manufacturing overhead have been established for a company that makes only one product: The following data pertain to operations for the last month: What is the variable overhead efficiency variance for the month? A. $17,085 U B. $17,397 U C. $16,817 U D. $312 F 2. Lusk Corporation produces and sells 20,000 units of Product X each month. The selling price of Product X is $30 per unit, and variable expenses are $21 per unit. A study has been made concerning whether Product X should be discontinued. The study shows that $50,000 of the $250,000 in fixed expenses charged to Product X would not be avoidable even if the product was discontinued. If Product X is discontinued, what would happen to the company's overall net operating income? A. Decrease by $20,000 per month B. Decrease by $70,000 per month C. Increase by $20,000 per month D. Increase by $70,000 per month 3. Comparing actual results to a budget based on the actual activity for the period is possible with the use of a A. rolling budget. B. flexible budget. C. master budget. D. monthly budget. 4. Hejl Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The cost formula for catering supplies is $210 per month plus $86 per job plus $15 per meal. A typical job involves serving a number of meals to guests at a corporate function or at a host's home. The company expected its activity in March to be 23 jobs and 222 meals, but the actual activity was 28 jobs and 217 meals. The actual cost for catering supplies in March was $5,830. What would the spending variance for catering supplies in March be closest to? A. $312 F B. $43 U C. $43 F D. $312 U 5.Hal currently works as the fry guy at Burger Haven but is thinking of quitting his job to attend college full time next semester. Which of the following would be considered an opportunity cost of attending college? A. The cost of the cola that Hal will consume during class B.The cost of commuting to the Burger Haven job C. The cost of the textbooks D.Hal's lost wages at Burger Haven 6. Data concerning the direct labor costs for March of Boler Corporation appear below: The journal entry to record the incurrence of direct labor costs in March would include the following for Work in Process: A. Debit of $114,948 B.Debit of $125,139 C. Credit of $114,948 D.Credit of $125,139 7.Claris Corporation (a multi-product company) produces and sells 7,000 units of Product X each year. Each unit of Product X sells for $12 and has a contribution margin of $4. If Product X is discontinued, $19,000 of the $32,000 in fixed costs charged to Product X could be eliminated. If Product X is discontinued, what will happen to the company's overall operating income? A. Increase by $9,000 per year B.Increase by $4,000 per year C. Decrease by 4,000 per year D.Decrease by $9,000 per year 8.The management of Fannin Corporation is considering dropping product H58S. Data from the company's accounting system appear below: In the company's accounting system all fixed expenses of the company are fully allocated to products. Further investigation has revealed that $90,000 of the fixed manufacturing expenses and $42,000 of the fixed selling and administrative expenses are avoidable if product H58S is discontinued. What would be the effect on the company's overall net operating income if product H58S were dropped? A. Overall net operating income would decrease by $137,000. B.Overall net operating income would increase by $137,000. C. Overall net operating income would decrease by $151,000. D. Overall net operating income would increase by $151,000. 9. Fabio Corporation is considering eliminating a department that has a contribution margin of $30,000 and $60,000 in fixed costs. Of the fixed costs, $15,000 cannot be avoided. What would the effect of eliminating this department on Fabio's overall net operating income be? A. An increase of $30,000 B.A decrease of $15,000 C. A decrease of $30,000 D. An increase of $15,000 0. For which cost(s) is a volume variance computed? A. Both variable and fixed manufacturing overhead B. Variable manufacturing overhead only C. Fixed manufacturing overhead only D. Direct labor costs as well as overhead costs 11. The following information relates to next year's projected operating results of the Consumer Division of Xampa Corporation: If the Consumer Division were eliminated, $1,600,000 of the above fixed expenses could be avoided. What will be the effect on Xampa's profit next year if Consumer Division is eliminated? A. $200,000 increase B. $300,000 increase C. $200,000 decrease D. $300,000 increase 12.McCubbin Corporation keeps careful track of the time required to fill orders. The times recorded for a particular order appear below: What was the delivery cycle time? A. 25.0 hours B. 27.0 hours C. 13.1 hours D. 3.5 hours 3. Barbu Corporation has provided the following data concerning its direct labor costs for June: What would the Labor Rate Variance for June be recorded as? A. Debit of $6,500 B. Credit of $6,500 C. Debit of $6,305 D. Credit of $6,305 4. Hairr Corporation bases its predetermined overhead rate on variable manufacturing overhead cost of $9.50 per machine-hour and fixed manufacturing overhead cost of $947,672 per period. If the denominator level of activity is 8,900 machine-hours, what would the predetermined overhead rate be? A. $950.00 B. $9.50 C. $115.98 D. $106.48 15.Gwinnett Barbecue Sauce Corporation manufactures a specialty barbecue sauce. Gwinnett has the capacity to manufacture and sell 10,000 cases of sauce each year but is currently only manufacturing and selling 9,000. The following costs relate to annual operations at 9,000 cases: Gwinnett normally sells its sauce for $30 per case. A local school district is interested in purchasing Gwinnett's excess capacity of 1,000 cases of sauce but only if they can get the sauce for $15 per case. This special order would not affect regular sales or total fixed costs or variable costs per unit. If this special order is accepted, what will happen to Gwinnett's profits for the year? A. Decrease by $1,000 B. Decrease by $6,600 C. Increase by $600 D. Decrease by $4,000 16.Gainer Corporation's standard wage rate is $11.70 per direct labor-hour (DLH) and according to the standards, each unit of output requires 3.9 DLHs. In February, 7,800 units were produced, the actual wage rate was $12.50 per DLH, and the actual hours were 29,940 DLHs. What would the Labor Rate Variance for February be recorded as? A. Debit of $23,952 B. Credit of $24,336 C. Credit of $23,952 D. Debit of $24,336 17.Hoppy Corporation compares monthly operating results to a static budget prepared at the beginning of the month. When the actual level of activity is less than budgeted, which of the following would be true? A. Fixed costs would show favorable variances. B. Variable costs would show favorable variances. C. Variable costs would show unfavorable variances. D. Fixed costs would show unfavorable variances. 18.Mondo Snow Removal's cost formula for its vehicle operating cost is $1,060 per month plus $429 per snow day. For the month of January, the company planned for activity of 11 snow days, but the actual level of activity was 13 snow days. What would the actual vehicle operating cost for the month was $6,310. What would the activity variance for vehicle operating cost in January be closest to? A. $531 U B. $531 F C. $858 U D. $858 F 19.Compound K72R is used to make Munuz Corporation's major product. The standard cost of compound K72R is $43.90 per ounce and the standard quantity is 1.4 ounces per unit of output. In the most recent month, 120 ounces of the compound were used to make 100 units of the output. When recording the use of materials in production, what would Raw Materials be? A. Credited for $6,146 B. Credited for $5,268 C. Debited for $5,268 D. Debited for $6,146 20.Liukko Corporation's standard wage rate is $14.90 per direct labor-hour (DLH) and according to the standards, each unit of output requires 2.8 DLHs. In June, 1,800 units were produced, the actual wage rate was $15.80 per DLH, and the actual hours were 5,110 DLHs. What would the Labor Efficiency Variance for June be recorded as? A. Debit of $1,106 B. Credit of $1,106 C. Credit of $1,043 D. Debit of $1,043 End of exam Student ID: 22039100 Exam: 061403RR - Capital, Cashflows, and Financial Statement Analysis When you have completed your exam and reviewed your answers, click Submit Exam. Answers will not be recorded until you hit Submit Exam. If you need to exit before completing the exam, click Cancel Exam. Questions 1 to 20: Select the best answer to each question. Note that a question and its answers may be split across a page break, so be sure that you have seen the entire question and all the answers before choosing an answer. 1. (Ignore income taxes in this problem.) The following data pertain to an investment proposal: Which is the net present value of the proposed investment closest to? A. $19,000 B. $2,268 C. $4,713 D. $2,445 2. Rawe Corporation's accounts receivable at the end of Year 2 was $329,000 and its accounts receivable at the end of Year 1 was $280,000. Sales, all on account, amounted to $1,350,000 in Year 2. How long is the company's average collection period (age of receivables) for Year 2 closest to? A. 89.0 days B. 82.4 days C. 1.2 days D. 1.0 days 3. In a statement of cash flows, issuing bonds payable affects which section? A. Financing activities section B. Free cash flow activities section C. Operating activities section D. Investing activities section 4. Dul Corporation has provided the following data concerning an investment project that it is considering: The working capital would be released for use elsewhere at the end of the project in 3 years. The company's discount rate is 7%. What is the net present value of the project closest to? A. $(61,872) B. $(9,648) C. $54,352 D. $10,000 5.(Ignore income taxes in this problem.) Neighbors Corporation is considering a project that would require an investment of $279,000 and would last for 8 years. The incremental annual revenues and expenses generated by the project during those 8 years would be as follows: The scrap value of the project's assets at the end of the project would be $15,000. The cash inflows occur evenly throughout the year. How long is the payback period of the project closest to? A. 2.5 years B. 2.6 years C. 1.9 years D.2.0 years 6. (Ignore income taxes in this problem.) An expansion at Fidell, Inc. would increase sales revenues by $75,000 per year and cash operating expenses by $38,000 per year. The initial investment would be for equipment that would cost $135,000 and have a 5 year life with no salvage value. The annual depreciation on the equipment would be $27,000. What percent is the simple rate of return on the investment closest to? A. 27.4% B. 20.0% C. 13.3% D. 7.4% 7.(Ignore income taxes in this problem.) A company with $600,000 in operating assets is considering the purchase of a machine that costs $72,000 and which is expected to reduce operating costs by $18,000 each year. These reductions in cost occur evenly throughout the year. How long is the payback period for this machine closest to, in years? A. 4 years B. 8.3 years C. 0.25 years D.33.3 years 8.(Ignore income taxes in this problem.) James just received an $8,000 inheritance check from the estate of his deceased rich uncle. James wants to set aside enough money to pay for a trip in 5 years. If the trip is expected to cost $5,000 and the rate of return is 12% per year, how much of the $8,000 must James deposit now if in order to have the $5,000 in five years? A. $2,535 B. $2,835 C. $2,000 D. $5,000 9.(Ignore income taxes in this problem.) Henscheid Roofing is considering the purchase of a crane that would cost $104,972, would have a useful life of 7 years, and would have no salvage value. The use of the crane would result in labor savings of $23,000 per year. Which percent is the internal rate of return on the investment in the crane closest to? A. 10% B. 13% C. 12% D. 15% 0. Smay Corporation has provided the following data: Which is the accounts receivable turnover for this year closest to? A. 6.08 B. 1.01 C. 0.99 D. 6.11 11. (Ignore income taxes in this problem.) Assume you can invest money at a 14% rate of return. How much money must be invested now in order to be able to withdraw $5,000 from this investment at the end of each year for 8 years, the first withdrawal occurring one year from now? A. $23,195 B. $1,755 C. $21,440 D. $24,840 12.A company needs an increase in working capital of $20,000 in a project that will last 4 years. The company's tax rate is 30% and its after-tax discount rate is 10%. How much is the present value of the release of the working capital at the end of the project closest to? A. $13,660 B. $9,562 C. $6,000 D. $14,000 13.Schoultz Corporation has provided the following data concerning an investment project that it is considering: The life of the project is 4 years. The company's discount rate is 12%. What is the net present value of the project closest to? A. $700,000 B. $364,000 C. $808,108 D. $108,108 14.(Ignore income taxes in this problem.) Villena Corporation is considering a project that would require an investment of $48,000. No other cash outflows would be involved. The present value of the cash inflows would be $52,800. Which is the profitability index of the project closest to? A. 0.09 B. 1.10 C. 0.90 D. 0.10 15.Correl Corporation has provided the following data concerning an investment project that it is considering: The life of the project is 4 years. The company's discount rate is 15%. What is the net present value of the project closest to? A. $135,000 B. $38,500 C. $24,200 D. $228,500 16.(Ignore income taxes in this problem.) Messersmith Corporation is investigating automating a process by purchasing a machine for $688,000 that would have an 8 year useful life and no salvage value. By automating the process, the company would save $160,000 per year in cash operating costs. The new machine would replace some old equipment that would be sold for scrap now, yielding $19,000. The annual depreciation on the new machine would be $86,000. What percent is the simple rate of return on the investment closest to? A. 10.8% B. 12.5% C. 23.3% D. 11.1% 17.(Ignore income taxes in this problem.) The management of Duker Corporation is investigating purchasing equipment that would increase sales revenues by $130,000 per year and cash operating expenses by $39,000 per year. The equipment would cost $328,000 and have an 8 year life with no salvage value. What percent is the simple rate of return on the investment closest to? A. 27.7% B. 12.5% C. 15.2% D. 38.5% 18. Harris Corporation, a retailer, had a cost of goods sold of $290,000 last year. The beginning inventory balance was $26,000 and the ending inventory balance was $24,000. What was the corporation's inventory turnover closest to? A. 11.15 B. 11.60 C. 5.80 D. 12.08 19. Fimbrez Corporation has provided the following data concerning an investment project that it is considering: Which is the net present value of the project closest to? A. $112,000 B. 358,484 C. $(1,516) D. $360,000 20. Last year Javer Corporation had a net income of $200,000, income tax expense of $74,000, and interest expense of $20,000. What was the corporation's times interest earned closest to? A. 14.7 B. 10.0 C. 5.3 D. 11.0 End of exam Student ID: 22039100 Exam: 061401RR - Tools for Management and Aids to Decision Making When you have completed your exam and reviewed your answers, click Submit Exam. Answers will not be recorded until you hit Submit Exam. If you need to exit before completing the exam, click Cancel Exam. Questions 1 to 20: Select the best answer to each question. Note that a question and its answers may be split across a page break, so be sure that you have seen the entire question and all the answers before choosing an answer. 1. The principal difference between variable costing and absorption costing centers is A. whether variable manufacturing costs should be included in product costs. B. whether fixed manufacturing costs should be included in product costs. C. whether fixed manufacturing costs and fixed selling and administrative costs should be included in product costs. D. whether selling and administrative costs should be included in product costs. 2. For July, White Corporation has budgeted production of 6,000 units. Each unit requires 0.10 direct laborhours at a cost of $8.50 per direct labor-hour. How much will White Corporation budget for labor in July? A. $5,100 B. $51,000 C. $5,160 D. $600 3. Which of the following represents the normal sequence in which the below budgets are prepared? A. Budgeted Balance Sheet, Sales Budget, Budgeted Income Statement B. Sales Budget, Budgeted Balance Sheet, Budgeted Income Statement C. Sales Budget, Budgeted Income Statement, Budgeted Balance Sheet D. Budgeted Income Statement, Sales Budget, Budgeted Balance Sheet 4. Fab Manufacturing Corporation manufactures and sells stainless steel coffee mugs. Expected mug sales at Fab (in units) for the next 3 months are as follows: Fab likes to maintain a finished goods inventory equal to 30% of the next month's estimated sales. How many mugs should Fab plan on producing during the month of November? A. 34,300 mugs B. 23,200 mugs C. 26,800 mugs D. 25,900 mugs 5. The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following information: Sales at $450,000, all for cash. Merchandise inventory on October 31 was $200,000. The cash balance November 1 was $18,000. Selling and administrative expenses are budgeted at $60,000 for November and are paid for in cash. Budgeted depreciation for November is $25,000. The planned merchandise inventory on November 30 is $230,000. The cost of goods sold is 70% of the selling price. All purchases are paid for in cash. There is no interest expense or income tax expense. How much are the budgeted cash receipts for November? A. $475,000 B. $315,000 C. $135,000 D. $450,000 6. The direct labor budget is based on A. the desired ending inventory of finished goods. B. the required materials purchases for the period. C. the beginning inventory of finished goods. D.the required production for the period. 7. Under variable costing, fixed manufacturing overhead is A. carried in a liability account. B. carried in an asset account. C. ignored. D.expensed as a period cost. 8.Bowe Corporation's fixed monthly expenses are $21,000 and its contribution margin ratio is 61%. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $74,000? A. $24,140 B. $53,000 C. $7,860 D. $45,140 9.Palomo Corporation sells a product for $170 per unit. The product's current sales are 35,200 units and its break-even sales are 25,344 units. What is the margin of safety as a percentage of sales closest to? A. 72% B. 39% C. 28% D. 61% 10.Hogans Corporation has two divisions: Delta and Echo. Data from the most recent month appear below: The company's common fixed expenses total $64,090. What is the break-even in sales dollars for Echo Division closest to? A. $250,143 B. $304,265 C. $387,059 D. $173,469 1. Garcia Veterinary Clinic expects the following operating results next year: What is Garcia's break-even point next year in sales dollars? A. $420,000 B. $240,000 C. $375,000 D. $400,000 12.Morrish Inc. bases its manufacturing overhead budget on budgeted direct labor-hours. The direct labor budget indicates that 7,100 direct labor-hours will be required in January. The variable overhead rate is $1.80 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $102,950 per month, which includes depreciation of $19,880. All other fixed manufacturing overhead costs represent current cash flows. What should the January cash disbursements for manufacturing overhead on the manufacturing overhead budget be? A. $115,730 B. $12,780 C. $95,850 D. $83,070 13.Senff Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: Data concerning two products appear below: How much overhead cost would be assigned to Product V91Z using the activity-based costing system? A. $3,195.50 B. $113,774.55 C. $132.45 D. $14,751.04 4. Under super-variable costing, which of the following is treated as a period cost? A. Option D B. Option A C. Option C D. Option B 5. Malley Corporation has provided the following data concerning its only product: What is the margin of safety in dollars? A. $562,950 B. $2,085,000 C. $1,390,000 D. $1,522,050 16.Bera Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: Data for one of the company's products follow: How much overhead cost would be assigned to Product Q79P using the activity-based costing system? A. $125.82 B. $43,659.54 C. $7,119.92 D. $4,770.99 17.Gunderman Corporation has two divisions: the Alpha Division and the Charlie Division. The Alpha Division has sales of $230,000, variable expenses of $131,100, and traceable fixed expenses of $63,300. The Charlie Division has sales of $540,000, variable expenses of $307,800, and traceable fixed expenses of $120,700. The total amount of common fixed expenses not traceable to the individual divisions is $119,200. What is the company's net operating income? A. $27,900 B. $211,900 C. $331,100 D. $147,100 18.A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: What is the variable costing unit product cost for the month? A. $94 per unit B. $90 per unit C. $111 per unit D. $115 per unit 19.Holdt Inc. produces and sells a single product. The selling price of the product is $230.00 per unit and its variable cost is $66.70 per unit. The fixed expense is $212,290 per month. What is the break-even in monthly unit sales closest to? A. 1,802 B. 1,300 C. 3,183 D. 923 20.Milano Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.50 direct labor-hours. The direct labor rate is $9.80 per direct labor-hour. The production budget calls for producing 6,400 units in October and 6,300 units in November. If the direct labor work force is fully adjusted to the total direct labor-hours needed each month, what would be the total combined direct labor cost for the two months? A. $31,360 B. $62,230 C. $31,115 D. $30,870 End of exam