ACC 220 Ch. 11

ACC 220 Ch. 11

Assessment

Flashcard

Business

University

Practice Problem

Hard

Created by

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8 questions

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1.

FLASHCARD QUESTION

Front

What is the financial advantage (disadvantage) of further processing Product A if it can be sold at the split-off point for $12 per unit, or it can be processed further for an additional total cost of $16,500 and then sold for $30 per unit?

Back

$55,500

2.

FLASHCARD QUESTION

Front

What is the annual financial advantage (disadvantage) for Young Corporation of eliminating Product X, which sells 12,000 units at $15 each with a contribution margin of $5.50, and where $70,000 of the $80,000 in annual fixed costs could be eliminated?

Back

$4,000

3.

FLASHCARD QUESTION

Front

Budgeted unit sales for March, April, and May are 75,000, 80,000, and 90,000 units. Management desires to maintain an ending inventory equal to 30 percent of the next month's unit sales. How many units should be produced in April?

Back

83,000 units

4.

FLASHCARD QUESTION

Front

What is the amount of cash collections for April given the sales of March, April, and May are $100,000, $120,000, and $125,000, with 80% credit sales and 20% cash sales, where 60% of credit sales are collected in the month of the sale and 40% in the next month?

Back

$113,600

5.

FLASHCARD QUESTION

Front

What is the accounts receivable balance at the end of May if March, April, and May sales are $100,000, $120,000, and $125,000, respectively, with 80% credit sales and 20% cash sales, where 60% of credit sales are collected in the month of the sale and 40% in the next month?

Back

$40,000

6.

FLASHCARD QUESTION

Front

Are opportunity costs recorded in an organization’s general ledger?

Back

False

7.

FLASHCARD QUESTION

Front

Sunk costs are always irrelevant when choosing among alternative

Back

True

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