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L15.2030 - Cost Accounting (2025/2026)
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The following information is available for Company X:
Revenue
= $400000
Selling
price = $40/unit
- Fixed costs = $200000
Operating
income before taxes = $100000
How much is the net income after taxes if the company sells 20000 units, assuming an income tax rate of 10% ?
Indicate whether the following sentences are TRUE or FALSE:
Comment on the following article, extracted from the textbook (Horngren, 16th edition, page 368).
While this is an open-book exam, direct copying of content from the textbook or class notes will not earn points. Answers should demonstrate your understanding and application of the concepts.
Which of the following factors is considered to have influenced the development of activity-based costing?
Which of the following is a manufacturing overhead cost?
Company X has the following estimated costs for the next year:
- Direct materials: $16109
- Direct labor: $40000
- Salary of production supervisor: $38000
- Rent on factory equipment: $18893
- Sales commission: $86000
- Advertising expenses: $18000
It is estimated that 53000 machine hours and 8000 direct labor hours will be worked during the next year. What will be the predetermined overhead rate if the company applies manufacturing overhead cost to jobs on the basis of direct labor hours?
Company X produces and sells two products: product P and product S. The selling prices are $60 for Product P and $100 for Product S sells for. The variable cost are as follows:
| Product P | Product S |
Variable manufacturing cost cost as percentage of selling price | 34% | 35% |
Variable selling and administrative cost as percentage of selling price | 6% | 5% |
Expected sales in units next year are: 4000 for Product P and 1000 for Product S. Fixed costs are budgeted at $188240 per year.
The yearly break even point in sales is:
Company X sells a single product for $40 per unit. Fixed costs are $120830 and variable costs equal 75% of sales. If fixed costs increase by $12713, Company X will have to increase sales by how much just to earn profits equal to those earned before costs increased?
Company X is analyzing its fixed and variable costs within its current relevant range. As its cost driver activity changes within the relevant range, which of the following statements is/are correct?
A) As the cost driver level increases, total fixed cost remains unchanged.
B) As the cost driver level increases, unit fixed cost increases.
C) As the cost driver level decreases, unit variable cost decreases.
Company X reports the following data for the current year:
- Net profit (variable costing basis) = $52123
- Net profit (absorption costing) = $53323
- Fixed manufacturing overhead costs per unit were the same in both the prior and current year ($1.20 per unit)