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ACCT 102 Ch. 1-3 HMWK Practice exam questions and answers 2024.
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ACCT 102 Ch. 1-3 HMWK Practice exam questions and answers 2024.
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ACCT 102 Ch. 1-3 HMWKPractice exam questions and
answers 2024
Rundle Manufacturing Company began operations on January 1.
During the year, it started and completed 1,750 units of product.
The financial statements are prepared in accordance with GAAP. The
company incurred the following costs:
Raw materials purchased and used—$3,140.
Wages of production workers—$3,500.
Salaries of administrative and sales personnel—$1,960.
Depreciation on manufacturing equipment—$5,610.
Depreciation on administrative equipment—$1,830.
Rundle sold 1,130 units of product.
Determine the total product cost for the year
$12,250
Determine the total variable production cost, assuming that
Solomon makes (1.) 6,000, (2.) 16,000, or (3.) 26,000 units.
1. $115,500
2. $308,000
3. $500,500
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Fanning Entertainment sponsors rock concerts. The company is
considering a contract to hire a band at a cost of $60,000 per
concert.
What is the total band cost is (1.) 4,000, (2.) 5,000, or (3.) 6,000?
1. $60,000
2. $60,000
3. $60,000
Fanning Entertainment sponsors rock concerts. The company is
considering a contract to hire a band at a cost of $60,000 per
concert.
What is the cost per person if concert attendance is (1.) 4,000, (2.)
5,000, or (3.) 6,000?
1. $15.00
2. $12.00
3. $10.00
Fanning Entertainment sponsors rock concerts. The company is
considering a contract to hire a band at a cost of $60,000 per
concert.
Is the cost of hiring the band a fixed or a variable cost?
Fixed
Rundle Manufacturing Company began operations on January 1.
During the year, it started and completed 1,750 units of product.
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