ACCT 349 ACCT349 Week 2 Quiz Answers

ACCT 349 ACCT349 Week 2 Quiz Answers

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ACCT 349 ACCT/349 ACCT349 Week 2 Quiz

    1. (TCO 6) Which of the following is not a primary purpose given in the text for allocating costs? (Points : 6)
    2. (TCO 6) In a customer cost hierarchy, the costs of a sales visit made to a customer is (Points : 6)
  • TCO 5) Natural Nutrients Bakery of Southfield produces three flavors of cat morsels that have budgeted and actual sales data for a bag of a dozen of its cat morsels as follows for December 20XX.
  • ¬†
  • Budgeted Data
  • Actual Data
  • ¬†
  • Tuna¬†
  • ChikBits
  • ChezNips
  • Tuna¬†
  • ChikBits
  • ChezNips
  • Bags
  • 7,200
  • 4,800
  • 4,000
  • 10,800
  • 3,600
  • 7,200
  • CM per bag
  • $2.50
  • $4.00
  • $5.00
  • $2.00
  • $3.00
  • $7.50
  • Cont. Margin
  • $18,000
  • $19,200
  • $20,000
  • $21,600
  • $10,800
  • $54,000
  • Total Contribution Margin¬†
  • ¬†
  • ¬†
  • $57,200¬†
  • ¬†
  • ¬†
  • $86,400

  • According to company forecasts, it was budgeting to earn a 25% market share in total units (bags) of specialty prepared cat treats sold in December 20XX in Southfield. Reliable industry sources indicate that the total number of bags of cat treats sold for December 200X in Southfield was 72,000.

    The sales-mix variance for December 20XX for Natural Nutrients Bakery is (Points : 6)
  • (TCO 6) Natural Nutrients Bakery of Southfield produces three flavors of cat morsels that have budgeted and actual sales data for a bag of a dozen of its cat morsels as follows for December 20XX.
  • ¬†
  • Budgeted Data
  • Actual Data
  • ¬†
  • Tuna¬†
  • ChikBits
  • ChezNips
  • Tuna¬†
  • ChikBits
  • ChezNips
  • Bags
  • 7,200
  • 4,800
  • 4,000
  • 10,800
  • 3,600
  • 7,200
  • CM per bag
  • $2.50
  • $4.00
  • $5.00
  • $2.00
  • $3.00
  • $7.50
  • Cont. Margin
  • $18,000
  • $19,200
  • $20,000
  • $21,600
  • $10,800
  • $54,000
  • Total Contribution Margin¬†
  • ¬†
  • ¬†
  • $57,200¬†
  • ¬†
  • ¬†
  • $86,400

  • According to company forecasts, it was budgeting to earn a 25% market share in total units (bags) of specialty prepared cat treats sold in December 20XX in Southfield. Reliable industry sources indicate that the total number of bags of cat treats sold for December 200X in Southfield was 72,000.
     
    Natural Nutrients Bakery experienced a market-size variance for December 20XX of (Points : 6)
  • (TCO 6) Fulbrite Fashions sells a line of women‚Äôs dresses. Fulbrite‚Äôs performance report for November is shown below. The company uses a flexible budget to analyze its performance and to measure the effect on operating income of the various factors affecting the difference between budgeted and actual operating income.
  • ¬†
  • Actual
  • Budget
  • Dresses sold
  • 5,000
  • 6,000
  • Sales
  • $235,000
  • $300,000
  • Variable costs
  • (145,000)
  • (180,000)
  • Contribution margin
  • $ 90,000
  • $120,000
  • Fixed costs¬†¬†¬†
  • (84,000)¬†
  • (80,000)
  • Operating income
  • $¬†¬† 6,000
  • $ 40,000
  • The effect of the sales quantity variance on Fulbrite‚Äôs contribution margin for November is
    (Points : 6)

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