QMAS

One of the following is an asset. 

• finished goods sold

• work in process 90% completed

This account is not an asset account

• unused factory supplies

• sold finished goods

One of the following items is a factory overhead

• salaries directly identified

• Operating Supplies of office equipment

One of the following items is not factory overhead?

• Depreciation Overhead of factory equipment

• Factory Supplies

Which of the following factors would cause the break-even point to change?

• Fixed operating costs increased due to an increase in rent.

• Increased sales volume.

• Total variable costs increased as a function of higher production.

• Total production decreased.

• All of the above.

Assuming that Yellow Co. accepted a special order for 5,000 units at P15.00 per unit, how much will be the increase or decrease in the contribution margin?

• P5,500 decrease

• P12,000 increase

• P12,000 decrease

• P13,750 increase

The unit cost figure the company would use in costing inventory using direct costing is?

• P12.25

• P12.60

• P14.70

• P16.10

Assuming that the regular sales price is reduced to P19 resulting in a 10% increase in sales volume, the effect on the monthly contribution margin will be?

• P20,400 decrease

• P20,400 increase

• P30,000 increase

• P33,000 increase

These costs are incurred to transform raw materials into finished products.

• Manufacturing costs

• Prime costs

• Conversion costs

• Direct labor

If you add the ending balance of work-in-process inventory and cost of goods manufactured, and from the sum, you deduct the sum of the beginning balance of work-in-process inventory and factory overhead, the end result would be

• Cost of goods manufactured

• Conversion costs

• Prime costs

• Direct materials