Which of the following choices correctly denotes the data needed to allocate joint costs under the relative-sales-value method? Sales Value of Product at Split-Off Separable Cost Sales Value of Product After Processing Beyond Split-Off A. Yes Yes No B. Yes Yes Yes C. Yes No No D. No Yes Yes E. No No Yes Choice A Choice D Choice C Choice B Choice E

Which of the following choices correctly denotes the data needed to allocate joint costs under the relative-sales-value method? Sales Value of Product at Split-Off Separable Cost Sales Value of Product After Processing Beyond Split-Off A. Yes Yes No B. Yes Yes Yes C. Yes No No D. No Yes Yes E. No No Yes Choice A Choice D Choice C Choice B Choice E

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter12: Differential Analysis And Product Pricing

Section: Chapter Questions

Problem 5SEQ

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For which cost concept used in applying (he cost-plus, approach to product pricing are fixed manufacturing costs, fixed selling and administrative expenses, and desired profit allowed for in determining the markup? A. Total cost B. Product cost C. Variable cost D. Standard cost
Refer to Exercise 7.25 and allocate the joint costs using the sales-value-at-split-off method.
When using the product cost method of applying the cost-plus approach to product pricing, which of the following is included in the markup? Oa. total fixed manufacturing costs, total fixed selling and administrative expenses, and desired profit b. desired profit Oc. total costs plus desired profit Od. total selling and administrative expenses plus desired profit
Relevant Cost for non-routine decision making: Sell or Process Further How much is the incremental profit/loss for product A, B, C
Direction: Read carefully and answer the questions below. Encircle the letter of the correct answer. 1. Which of the following is an example of a variable cost? а. interest b. ingredients с. insurance d. lease 2. What type of cost varies depending on the quantity of products being produced? а. fixed b. net sales с. total d. variable 3. Which among the following concepts is usually seen on the top item in an income statement from which all costs and expenses is subtracted to arrive at net income? a. fixed cost b. net sales с. total cost d. variable cost 4. When do we obtain the break-even point? When the fixed cost is equal to the total cost When the total cost is equal to the variable cost When the variable cost is equal to the fixed cost d. When the number of units of goods sold covers the all the costs а. b. с. 5. Which of the following is NOT true? а. The fixed cost does not vary over time. b. The total cost is the sum of the fixed cost and the variable cost. с. The total cost is…
When using the total cost concept of applying the cost-plus approach to product pricing, what is included in the markup? Total costs plus desired profit Desired profit Total selling and administrative expenses plus desired profit Total fixed manufacturing costs, total fixed selling and administrative expenses, and desired profit
The difference between sales and marginal cost is______________ a. Fixed Cost b. Profit c. Sales price d. Contribution
The decision of whether to process products beyond the splitoff process should be based on which of the following? Select one: a. Production cost analysis b. Revenue analysis c. Incremental operating income attainable beyond the splitoff point d. Relevant cost analysis e. Gross margin analysis
Select the correct statement concerning the below cost-volume-profit graph: Line E A O d. O e. O a. None b. At point B, profits equal total costs. O c. Line E is the total sales line. d. Line F is the Total sales line. e. The point identified by "B" is the breakeven point. The break-even point is where B Line F Oa. None O b. total sales equal total fixed costs. O c. total variable costs equal total fixed costs. total sales equal total variable costs. Line D contribution margin ratio equals total fixed costs. O a. 190 000 b. None OC. 0.73 22 The following monthly data are available for Lumberyard Company which produces only one product: Break-even level in sales of dollars: $530 000 Budgeted sales in dollars for the month of June: $720 000 d. 1 250 000 e. 1.35 How much is the margin of safety for the company for June?
Which of the following is contribution margin? Group of answer choices Excess of sales revenue over total variable costs. Excess of sales revenue over costs of goods sold. Excess of sales revenue over variable costs of goods sold. All of the answer choices are correct.
Choose the letter of the correct answer: 1.) This best accounts for the difference in profit between the absorption and variable costing * a.) Difference in sales revenue b.) Difference in fixed costs incurred c.) Difference in inventory valuation d.) Difference in variable costs incurred 2.) Variable selling expenses are * a.) Product costs under variable costing but period costs under absorptions costing b.) Period costs under variable costing but product cost under absorption costing c.) Product costs under both costing methods d.) period costs under both costing methods 3. Which of the following types of cost do not appear on a variable costing income statement? * a.) Direct labor b.) Direct materials c.) Variable selling expenses d.)Fixed factory overhead per unit per sold 4.) All of the following costs are included as product costs under absorption costing except *…
Using sales value at split-off, what amount of joint processing cost is allocated to Product Alpha? Using a physical measurement method, what amount of joint processing cost is allocated to Product Gamma? Using net realizable value at split-off, what amount of joint processing cost is allocated to Product Delta?

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	Sales Value of Product at Split-Off	Separable Cost	Sales Value of Product After Processing Beyond Split-Off
A.	Yes	Yes	No
B.	Yes	Yes	Yes
C.	Yes	No	No
D.	No	Yes	Yes
E.	No	No	Yes