ACCT 2121 Mid-term Exam 2022

ACCT 2121 Mid-term Exam 2022 MCQ Q1 (1 point) In multiproduct situations, when the sales mix shifts toward the product with the highest contribution margin per unit, then: A) total revenues will decrease B) breakeven quantity will increase C) total contribution margin will decrease D) operating income will increase Q2 (1 point) Hope company produces and sells 500 units of its only product per month at the selling price of $1,200. The variable manufacturing cost of the 500 units is $90,000 and the variable nonmanufacturing cost totals $60,000. Total manufacturing fixed cost is $100,000 and total nonmanufacturing fixed cost is $10,000. How would the monthly operating income change if sales units increase by 20%. A) operating income is increased by $90,000 B) operating income is increased by $45,000 C) operating income is increased by $120,000 D) operating income is increased by $118,000 Q3 (1 point) Which of the following statements refers to management accounting information? A) There are some regulatory requirements for how information is collected and reported B) The information is generally about historical firm performance C) The audience tends to be managers, stockholders, tax auditors, and regulators D) It affects the how performance is measured for different departments within a firm Q4 (1 point) More cost pools: A) always result in better estimates of indirect costs B) seldom result in better estimates of indirect costs C) are usually beneficial if the pattern of demand