If Elli Inc sells 20,000 units True. Adding 20,000 and 60,000 we get 80,000 units.
of x and 60,000 units of y, Splitting this up into proportions we have
the composite unit 20,000/80,000=25%x and 60,000/80,000=75%y.
consists of .25x and .75y
(T/F)
Finished goods beginning inventory. If you sell more
If the quantity sold is
than you produce, you must obtain the units
greater than the quantity
somewhere. You obtain them from the finished goods
produced there has to be:
beginning inventory.
,11/29/24, 2:42 AM IVY SOFTWARE MBA PREPWORKS MANAGERIAL ACCOUNTING EXAM 2024 NEWEST 2 VERSIONS COMPLETE 300 QUES…
Contribution margin and False
contribution margin per
unit are the same.
Breakeven indicates that True
the sales dollars cover all
fixed and variable costs of
manufacturing
Inventoriable costs using False
variable costing is
appropriate for external
reporting
Essex company sells two $3
products- A and B.
Product A sales are two
times that of product B.
The contribution per unit
for A is $4 and B is $1.
What is the weighted
average contribution
margin per unit?
Absorption costing clearly false
separates fixed costs from
variable costs
Converse company has $5
two products- A and B.
The weighted average
contribution margin per
unit is $4. Converse sells
twice as many As as Bs.
The contribution margin
per unit for B is $2. What is
it for A?
, 11/29/24, 2:42 AM IVY SOFTWARE MBA PREPWORKS MANAGERIAL ACCOUNTING EXAM 2024 NEWEST 2 VERSIONS COMPLETE 300 QUES…
If the breakeven is 5000 $10
units and fixed costs are
$50,000, what is the
contribution margin per
unit?
Which of the following will Gross Margin and Cost of Goods Sold
be found on an
absorption costing
income statement but not
on a variable costing
income statement?
If units produced are less Less than variable costing
than units sold, net
income using absorption
costing is
If the selling price is $5 $5,000 (5x - 1x - 20000 = 0, 4x - 20,000=0, 4x=20000, x
per unit the variable cost = 5000)
is $1 per unit and the fixed
cost is $20,000, what is the
breakeven in units?
The total of ALL the right- True. The double-entry system of accounting means
hand sides of the T- that for each transaction recorded, there is a left-hand
accounts must equal the (debit) entry offset by a right-hand (credit) entry.
total of ALL the left-hand
sides of the T-Accounts
(T/F)
Since the total of all the R False. Cash (Asset) and Common Stock (Owners'
sides of accounts equals Equity) is used to record the sale of company stock.
the total of L sides, then While the R side equals the L side, they both increase,
the total amount of thus, the total amount of increases does not equal the
increases entered in the decreases.
general ledger must equal
the total amount of
decreases (T/F)
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