Discuss on Cost Accounting
Which of the following is an approach to sensitivity analysis?
A. contribution
B. distribution
C. margin
D. profit
Question 2 of 20
ABC Restaurant’s revenue budget reflects the following information for February:
Food sales
$260,000
Beverage and liquor sales
$140,000
Total sales
$300,000
ABC expects revenue to increase by 5% during both March and April. What is the budgeted amount of beverage and liquor sales revenue for March?
A. $145,000
B. $154,350
C. $147,000
D. $150,000
Question 3 of 20
The entry for indirect materials (such as glue, etc.. requisitioned for use in production is __________.
A.
Raw Materials Inventory
Work-in-Process Inventory
B.
Work-in-Process Inventory
Accounts Payable
C.
Work-in-Process Inventory
Raw Materials Inventory
D. None of the above
Question 4 of 20
If direct labor for the month is $80,000 and overhead is applied based on 75% of direct labor dollars, what is the entry to apply overhead?
A. debit Work-in-Process Inventory $80,000; credit Payroll $80,000
B. debit Overhead-Applied $60,000; credit Work-in-Process Inventory $60,000
C. debit Work-in-Process Inventory $60,000; credit Overhead-Applied $60,000
D. debit Work-in-Process Inventory $80,000; credit Overhead-Applied $80,000
Question 5 of 20
An element of sensitivity analysis includes __________.
A. unidimensional changes
B. a sole focus on profit
C. simultaneous changes
D. a financial accounting approach
Question 6 of 20
Factory Supplies Expense, Depreciation Expense-Factory, and Heat, Light, and Power-Factory appear on which section of the worksheet?
A. statement of cost of goods manufactured
B. balance sheet
C. income statement
D. statement of cost of goods soldWhich of the following is an approach to sensitivity analysis?
A. contribution
B. distribution
C. margin
D. profit
Question 2 of 20
ABC Restaurant’s revenue budget reflects the following information for February:
Food sales
$260,000
Beverage and liquor sales
$140,000
Total sales
$300,000
ABC expects revenue to increase by 5% during both March and April. What is the budgeted amount of beverage and liquor sales revenue for March?
A. $145,000
B. $154,350
C. $147,000
D. $150,000
Question 3 of 20
The entry for indirect materials (such as glue, etc.. requisitioned for use in production is __________.
A.
Raw Materials Inventory
Work-in-Process Inventory
B.
Work-in-Process Inventory
Accounts Payable
C.
Work-in-Process Inventory
Raw Materials Inventory
D. None of the above
Question 4 of 20
If direct labor for the month is $80,000 and overhead is applied based on 75% of direct labor dollars, what is the entry to apply overhead?
A. debit Work-in-Process Inventory $80,000; credit Payroll $80,000
B. debit Overhead-Applied $60,000; credit Work-in-Process Inventory $60,000
C. debit Work-in-Process Inventory $60,000; credit Overhead-Applied $60,000
D. debit Work-in-Process Inventory $80,000; credit Overhead-Applied $80,000
Question 5 of 20
An element of sensitivity analysis includes __________.
A. unidimensional changes
B. a sole focus on profit
C. simultaneous changes
D. a financial accounting approach
Question 6 of 20
Factory Supplies Expense, Depreciation Expense-Factory, and Heat, Light, and Power-Factory appear on which section of the worksheet?
A. statement of cost of goods manufactured
B. balance sheet
C. income statement
D. statement of cost of goods sold