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Exam 6: Variable Costing and Segment Reporting: Tools for Management

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Question 121

Multiple Choice

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Bryans Corporation has provided the following data for its two most recent years of operation: -The net operating income (loss) under absorption costing in Year 1 is closest to:

A) $37,000
B) $132,000
C) $108,000
D) $16,000

E) A) and B)
F) B) and D)

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Question 122

Multiple Choice

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Plummer Corporation has provided the following data for its two most recent years of operation: -The net operating income (loss) under absorption costing in Year 2 is closest to:

A) $31,000
B) $26,000
C) $132,000
D) $92,000

E) None of the above
F) A) and D)

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Question 123

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In its first year of operations,Bronfren Corporation produced 800,000 sets and sold 780,000 sets of artificial tan lines.What would have happened to net operating income in this first year under the following costing methods if Bronfren had produced 20,000 fewer sets? (Assume that Bronfren has both variable and fixed production costs.)

Wyrich Corporation has two divisions: Blue Division and Gold Division. The following report is for the most recent operating period: -The Gold Division's break-even sales is closest to:

Clouthier Corporation has two divisions: Home Division and Commercial Division.The following report is for the most recent operating period: The company's common fixed expenses total $29,700. Required: a.What is the Home Division's break-even in sales dollars? b.What is the Commercial Division's break-even in sales dollars? c.What is the company's overall break-even in sales dollars?

Pacheo Corporation,which has only one product,has provided the following data concerning its most recent month of operations: The company produces the same number of units every month,although the sales in units vary from month to month.The company's variable costs per unit and total fixed costs have been constant from month to month. Required: a.What is the unit product cost for the month under variable costing? b.Prepare a contribution format income statement for the month using variable costing. c.Without preparing an income statement,determine the absorption costing net operating income for the month.(Hint: Use the reconciliation method.)

Pavelko Corporation has provided the following data for its two most recent years of operation: -The unit product cost under variable costing in Year 2 is closest to:

Last year,Rasband Corporation's variable costing net operating income was $57,000.The fixed manufacturing overhead costs deferred in inventory under absorption costing amounted to $30,000. Required: Determine the absorption costing net operating income last year.Show your work!

Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: -What is the unit product cost for the month under variable costing?

Mandato Corporation has provided the following data for its two most recent years of operation: -The net operating income (loss) under variable costing in Year 2 is closest to:

Kern Corporation produces a single product. Selected information concerning the operations of the company follow: Assume that direct labor is a variable cost. -Under variable costing,the value of the ending finished goods inventory would be:

Smidt Corporation has provided the following data for its two most recent years of operation: -The unit product cost under variable costing in Year 1 is closest to:

A cost that would be included in product costs under both absorption costing and variable costing is:

Bertie Corporation has two divisions: Retail Division and Wholesale Division. The following data are for the most recent operating period: The common fixed expenses of the company are $103,360. -The Retail Division's break-even sales is closest to:

Carlton Corporation has two divisions: Delta and Echo.Data from the most recent month appear below: The company's common fixed expenses total $44,110.The break-even in sales dollars for Echo Division is closest to:

The Dorset Corporation produces and sells a single product.The following data refer to the year just completed: Assume that direct labor is a variable cost. Required: a.Compute the unit product cost under both the absorption costing and variable costing approaches. b.Prepare an income statement for the year using absorption costing. c.Prepare an income statement for the year using variable costing. d.Reconcile the absorption costing and variable costing net operating income figures in (b)and (c)above.

Neef Corporation has provided the following data for its two most recent years of operation: -Which of the following statements is true for Year 1?

Azuki Corporation operates in two sales territories, Urban and Rural. Data concerning last year's operations appear below: Azuki's common fixed expenses were $25,000 last year. -If operations in the Rural Sales Territory would have been discontinued at the beginning of last year,how would this have changed the net operating income of Azuki Corporation as a whole?

Lenart Corporation has provided the following data for its two most recent years of operation: -The unit product cost under absorption costing in Year 2 is closest to:

Mandato Corporation has provided the following data for its two most recent years of operation: -The net operating income (loss) under absorption costing in Year 1 is closest to: