ACCT 505 Midterm Exam (Version 4)

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1. Question : (TCO A) The variable portion of advertising costs is a
2. Question : (TCO A) Total fixed costs
3. Question : (TCO A) Depreciation of office buildings and office equipment ……… as
4. Question : (TCO C) Within the relevant range, variable costs ……….. to
5. Question : (TCO B) Emco Company uses direct labor cost as a basis for computing its predetermined overhead rate. In computing the predetermined overhead rate for last year, the company included in direct labor cost a portion of indirect labor. The effect of this misclassification will be to
6. Question : (TCO B) A job-order cost system is employed in those situations when
7. Question : (TCO F) Equivalent units for a process costing system using the FIFO method would be equal to
   

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8. Question : (TCO C) The contribution margin ratio always decreases when the
9. Question : (TCO C) To obtain the break-even point in terms of dollar sales, total fixed expenses are divided ………. ?
10. Question : (TCO D) In an income statement prepared using the variable costing method, variable selling and administrative expenses would