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Question 7.7. (TCO F) Equivalent units for a process costing system
using the FIFO method would be equal to (Points : 6)
units completed during the period, plus equivalent units in the
ending work-in-process inventory.
units started and completed during the period, plus equivalent units
in the ending work-in-process inventory.
units completed during the period and transferred out.
units started and completed during the period, plus equivalent units
in the ending work-in-process inventory, plus work needed to complete
units in the beginning work-in-process inventory.
Question 8.8. (TCO C) The contribution margin equals (Points : 6)
sales - expenses.
sales - variable costs.
sales - cost of goods sold.
sales - fixed costs.
Question 9.9. (TCO C) Which of the following would not affect the
break-even point? (Points : 6)
Variable expense per unit
Number of units sold
Total fixed expenses
Selling price per unit
Question 10.10. (TCO D) Under variable costing, (Points : 6)
inventory costs will be lower than under absorption costing.
inventory costs will be higher than under absorption costing.
net operating income will always be lower than under absorption
costing.
net operating income will always be higher than under absorption
costing.