1. Which of the following is a responsibility center that incurs expenses, generates revenues, and is responsible for generating a return on assets?

1. Which one of the following is the most useful measure for evaluating a manager's performance in controlling revenues and costs in a profit center?

1. Hanover Corporation desires to earn target net income of $42,000. The selling price per unit is $18, unit variable cost is $5.60, and total fixed costs are $123,912. How many units must the company sell to earn its target net income?

1. Remark Enterprises uses a process cost accounting system.

Beginning Work in Process3,000 units (50% complete)

Ending Work in Process2,000 units (30% complete)

Started into Production56,000 units

How many units were completed and transferred out during the current period?

1. Ralston Gifts applies overhead on the basis of machine hours. The following data were provided by Ralston:

Estimated annual overhead cost$516,600

Actual annual overhead cost$537,500

Estimated machine hours126,000

Actual machine hours125,000

How much overhead was applied?

1. The following data has been collected for use in analyzing Marshall's behavior of maintenance costs:

MonthMaintenance CostsMachine Hours

January$20,0001,600

February25,0002,100

March27,2002,600

April19,6001,700

May21,4002,400

June28,4002,500

July23,6002,300

Using the high-low method to separate the maintenance costs into their variable and fixed cost components, these components are?

1. Given the following information for Janaro Products, compute the company's ROI:Sales $800,000; Controllable Margin $120,000; Average Operating Assets $400,000.

1. Given the following data for Harvard Publishing, determine the amount of cost of goods manufactured.

Direct materials used$65,000Beginning work in process$12,000

Direct labor41,000Ending work in process8,000

Manufacturing overhead63,000Beginning finished goods14,000

Operating expenses88,000Ending finished goods12,000

1. Select the correct order of the following components of the production cost report

(1) costs accounted for

(2) unit costs

(3) costs charged to a department

What is the starting point of a master budget?