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Ques 1: Which of the following is most likely to be a variable
cost?
A. Depreciation of factory Equipment
B. Direct Materials
C. Supervisory Salaries
D. Total Production Costs

Ques 2: Three costs incurred by Pitt Company are summarized
below:

1,000 units 2,000 units
Cost A $10,000 $15,000
Cost B $21,000 $21,000
Cost C $16,000 $32,000

Which of these costs are variable?

a. A, B and C
b. A and C
c. A Only
d. C Only

Ques 3: IGLA Org is a swim-suit manufacturer. They sell swim suits
at a selling price is $30 per unit. IGLA’s variable costs are $18
per unit. Fixed costs are $90,000. IGLA expects sales of $282,000
next year. What is IGLA’s margin of safety?

a. $57,000
b. $132,000
c. $192,000
d. $225,000

Ques 4: Landa Company sells 3 types of umbrellas. Umbrella A sells
for $20 and has variable cost of $9.00 per unit. Umbrella B sells
for $17.00 and has variable cost of $12.00 per unit. Umbrella C
sells for $9.00 and has variable costs of $6.00 per unit. Carlos
sells in a mix of 2 units of A, 3 units of B and 5 units of C. What
is the weighted average contribution margin per unit for
Carlos?

a .$5.20
b. $13.60
c. $10.00
d. $6.33

Ques 5: A firm with high operating leverage has high

a. Profit Margins
b. Variable Costs
c. Fixed Costs
d. Prices

Ques 6) What is the goal of Managerial Accounting?
a. Provide information for planning, control and decision
making
b. Manage the accounting function
c. Provide accounting services to the company
d. Insure accurate reporting to the government
e. None of the above

Ques 7) Operations are evaluated to provide information:
a. about profitability
b. to review if managers are performing properly
c. as to whether or not they should be changed
d. regarding customer orders
e. to inform senior management

Ques 8) Managerial accounting may differ from Financial accounting
inasmuch as:
a. Managerial accounting is directed outward not inward
b. Managerial accounting may deviate from GAAP
c. Managerial accounting provides less detail
d. Managerial accounting only presents monetary information
e. None of the above

Ques 9) Variable costs are:
a. Costs that vary from operation to operation
b. Costs that change each period
c. Costs that increase or decrease in proportion to level of
business activity
d. Costs that increase or decrease in proportion to size of
business unit
e. Costs that vary from fixed costs

Ques 10) Decision making relies on
a. Expert opinion
b. Expert analysis
c. Detailed information
d. Incremental analysis
e. Leadership abilities
 

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