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Exam 7: Variable Costing and Segment Reporting: Tools for Management

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Question 101

Multiple Choice

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The unit product cost under absorption costing in Year 2 is closest to:

A) $48.00
B) $22.00
C) $20.00
D) $42.00

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Question 102

Multiple Choice

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Under variable costing, the unit product cost is:

A) $24 per unit
B) $20 per unit
C) $18 per unit
D) $21 per unit

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Question 103

Multiple Choice

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In last year's income statement segmented by division, what were Nantor's total common fixed expenses?

Carroll Corporation has two products, Q and P.During June, the company's net operating income was $25,000, and the common fixed expenses were $37,000.The contribution margin ratio for Product Q was 30%, its sales were $200,000, and its segment margin was $21,000.If the contribution margin for Product P was $80,000, the segment margin for Product P was: A)$62,000 B)$59,000 C)$62,000 D)$41,000

Allocating common fixed expenses to business segments:

Beamish Inc., which produces a single product, has provided the following data for its most recent month of operations: There were no beginning or ending inventories.The absorption costing unit product cost was:

Data for September concerning Greenberger Corporation's two major business segments--Fibers and Feedstocks--appear below: Common fixed expenses totaled $344,000 and were allocated as follows: $175,000 to the Fibers business segment and $169,000 to the Feedstocks business segment. Required: Prepare a segmented income statement in the contribution format for the company.Omit percentages; show only dollar amounts.

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: What is the absorption costing unit product cost for the month?

If operations in the Rural Sales Territory would have been discontinued at the beginning of last year, how would this have changed the net operating income of Azuki Corporation as a whole?

Variable costing is more compatible with cost-volume-profit analysis than is absorption costing.

Segment margin is sales less variable expenses less traceable fixed expenses.

Under variable costing, only variable production costs are treated as product costs.

Phinisee Corporation manufactures a single product.The following data pertain to the company's operations over the last two years: Required: a.Determine the absorption costing net operating income for last year.Show your work! b.Determine the absorption costing net operating income for this year.Show your work!

Which costing method, absorption or variable costing, would show a higher operating income for the year and by what amount?

What is the net operating income for the month under absorption costing?

When using data from a segmented income statement, the dollar sales for a segment to break even is equal to:

The Retail Division's break-even sales is closest to:

The unit product cost under variable costing in Year 1 is closest to:

The net operating income (loss) under absorption costing in Year 2 is closest to:

The unit product cost under variable costing in Year 1 is closest to: