ACCT 346

ACCT 346 MIDTERM EXAM

Question : (TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for

 Question : (TCO 1) Which of the following statements regarding fixed costs is true?

	Question :	(TCO 1) Which of the following costs does not change when the level of business activity changes?
	Question :	(TCO 1) A retailer purchased some trendy clothes that have gone out of style and must be marked down to 40% of the original selling price in order to be sold. Which of the following is a sunk cost in this situation? http://www.homeworkproviders.com/shop/acct-346-midterm-exam/

Question : (TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation?

Question : (TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit?

Question :

(TCO 1) Which of the following costs is not part of manufacturing overhead?

Question : (TCO 1) Which of the following is an example of a manufacturing overhead cost?

Question : (TCO 1) Which of the following is a period cost?

ACCT 346 MIDTERM EXAM