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BUS105 Practice Questions

Managerial Accounting (SAYA-0009) Exam

Last Update 1 day ago
Total Questions : 50

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Question # 11

SJ Candles manufactures paraffin and soy candles. They have fixed costs of $120,000 and a constant level of sales. Using this sales data, what is the total number of candles that must be sold in order to break-even?

Question # 11

Options:

A.  

4,800 candles

B.  

9,677 candles

C.  

20,000 candles

D.  

30,000 candles

Discussion 0
Question # 12

Using this data, what is the number of units that must be sold in order to achieve a desired after-tax profit of $100,000?

Question # 12

Options:

A.  

12,800 units

B.  

14,800 units

C.  

15,360 units

D.  

16,000 units

Discussion 0
Question # 13

Which of the following employees of ABC Corporation is most likely to receive the report regarding the internal audit committee's control findings?

Options:

A.  

Payroll clerk

B.  

Plant manager

C.  

Chief financial officer

D.  

Managerial accountant

Discussion 0
Question # 14

Wycliff Corporation manufactured Job #3 during the month of May. On May 29, 100% of the product was finished and sold on account for $150. These journal entries were recorded during production:

Question # 14

On May 31, Wycliff determined that the amount remaining in the manufacturing overhead account was immaterial and closed it out. What was the amount of gross profit before closing the manufacturing account, and what effect did closing the manufacturing account have on gross profit?

Options:

A.  

Gross profit was $44; gross profit decreased by $1.00 after closing manufacturing overhead.

B.  

Gross profit was $44; gross profit increased by $1.00 after closing manufacturing overhead.

C.  

Gross profit was $75; gross profit decreased by $1.00 after closing manufacturing overhead.

D.  

Gross profit was $75; gross profit increased by $1.00 after closing manufacturing overhead.

Discussion 0
Question # 15

Using this data, what is the contribution margin?

Question # 15

Options:

A.  

$121,000

B.  

$326,000

C.  

$365,000

D.  

$625,000

Discussion 0
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