FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 7: Variable Costing and Segment Reporting: Tools for Management

Show Answer

Share

---

All types

Filters

Study Flashcards

Question 101

Multiple Choice

Review LaterAdd Note

Review Later

The unit product cost under absorption costing in Year 2 is closest to:

A) $48.00
B) $22.00
C) $20.00
D) $42.00

Correct Answer

verified

Show Answer

Question 102

Short Answer

Review LaterAdd Note

Review Later

Carroll Corporation has two products, Q and P.During June, the company's net operating income was $25,000, and the common fixed expenses were $37,000.The contribution margin ratio for Product Q was 30%, its sales were $200,000, and its segment margin was $21,000.If the contribution margin for Product P was $80,000, the segment margin for Product P was: A)$62,000 B)$59,000 C)$62,000 D)$41,000

Correct Answer

verified

_TB2627_00 Net operating income = Segmen...

View Answer

Show Answer

Question 103

Multiple Choice

Review LaterAdd Note

The net operating income (loss) under absorption costing in Year 2 is closest to:

When using data from a segmented income statement, the dollar sales for a segment to break even is equal to:

Allocating common fixed expenses to business segments:

What is the net operating income for the month under absorption costing?

Under variable costing, the unit product cost is:

Phinisee Corporation manufactures a single product.The following data pertain to the company's operations over the last two years: Required: a.Determine the absorption costing net operating income for last year.Show your work! b.Determine the absorption costing net operating income for this year.Show your work!

The Retail Division's break-even sales is closest to:

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?

Under variable costing, only variable production costs are treated as product costs.

In last year's income statement segmented by division, what were Nantor's total common fixed expenses?

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: What is the absorption costing unit product cost for the month?

Variable costing is more compatible with cost-volume-profit analysis than is absorption costing.

Data for September concerning Greenberger Corporation's two major business segments--Fibers and Feedstocks--appear below: Common fixed expenses totaled $344,000 and were allocated as follows: $175,000 to the Fibers business segment and $169,000 to the Feedstocks business segment. Required: Prepare a segmented income statement in the contribution format for the company.Omit percentages; show only dollar amounts.

Which costing method, absorption or variable costing, would show a higher operating income for the year and by what amount?

Beamish Inc., which produces a single product, has provided the following data for its most recent month of operations: There were no beginning or ending inventories.The absorption costing unit product cost was:

Segment margin is sales less variable expenses less traceable fixed expenses.

The unit product cost under variable costing in Year 1 is closest to:

The unit product cost under variable costing in Year 1 is closest to: