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Ac505 Mid Term Examples

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Midterm week 4 ------------------------------------------------- Top of Form Bottom of Form Grading Summary | These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. | Date Taken: | 8/2/2011 | Time Spent: | 2 h , 23 min , 35 secs | Points Received: | 127 / 150 (84.7%) | | Question Type: | # Of Questions: | # Correct: | Multiple Choice | 10 | 7 | Short | 1 | N/A | Essay | 3 | N/A | | | Grade Details | Page: | 1 2 | 1. | Question : | (TCO A) Wages paid to an assembly line worker in a factory are a: | | | Student Answer: | | Prime Cost YES.....Conversion Cost NO | | | | Prime …show more content…

| Question : | (TCO B) The contribution margin ratio always increases when the: | | | Student Answer: | | break-even point increases | | | | break-even point decreases | | | | variable expenses as a percentage of net sales decreases | | | | variable expenses as a percentage of net sales increases | | Instructor Explanation: | Chapter 6 | | | | Points Received: | 6 of 6 | | Comments: | | | | 9. | Question : | (TCO B) Which of the following would not affect the break-even point? | | | Student Answer: | | number of units sold | | | | variable expense per unit | | | | total fixed expenses | | | | selling price per unit | | Instructor Explanation: | Chapter 6 | | | | Points Received: | 0 of 6 | | Comments: | | | | 10. | Question : | (TCO E) In an income statement prepared using the variable costing method, variable selling and administrative expenses would: | | | Student Answer: | | be used in the computation of the contribution margin | | | | be used in the computation of net operating income but not in the computation of the contribution margin | | | | be treated