Accounting Help - Practice Questions Essay - 4294 Words

Chapter 18: Practice questions 1-1 The total manufacturing cost per unit increases as total production volume increases. 1-2 Total variable costs change in response to changes in the volume of production. 1-3 The mixed cost per unit is constant throughout the relevant range of activity. 1-4 Fixed costs per unit decrease as production levels decrease. 1-5 A method used to separate mixed costs into fixed and variable components is called the high-low method. 1-6 The variable cost per unit is assumed to be constant within a particular relevant range of activity. 1-7 Which of the following costs changes in direct proportion to a change in volume? A) Average mixed cost B) Total fixed cost†¦show more content†¦If your current bill is $25.00, how many minutes did you use? A) 250 minutes B) 100 minutes C) 200 minutes D) 150 minutes 1-19 Jenny was reviewing the water bill for her doggy day spa and determined that her highest bill, $3,000, occurred in July when she washed 2,000 dogs and her lowest bill, $2,000, occurred in November when she washed 1,000 dogs. What was the variable cost per dog wash associated with Jennys water bill? A) $.67 B) $1.00 C) $0.50 D) $2.00 1-20 Jenny was reviewing the water bill for her doggy day spa and determined that her highest bill, $3,000, occurred in July when she washed 2,000 dogs and her lowest bill, $2,000, occurred in November when she washed 1,000 dogs. What was the fixed cost associated with Jennys water bill? A) $1,500 B) $3,000 C) $1,000 D) $2,000 1-21 Dakota Company provides the following information about its single product: |Targeted operating income |$40,000 | |Selling price per unit |$3.50 | |Variable cost per unit |$1.05 | |Total fixedShow MoreRelated7101AFE Financial Accounting Theory And Practice Essay970 Words   |  4 Pagesï » ¿7101AFE Financial Accounting Theory and Practice Tutorial Questions for Tutorials 1- 6: Semester 1 2015 TUTORIAL 1 - Semester 1 2015 Deegan Topic 1: Introduction to financial accounting theory QUESTION 1 – Question 1.2: If you developed a theory to explain how a person’s cultural background influences how they prepare financial statements, would you have developed a positive theory or a normative theory? The first of all, it is important to understand the mean by a ‘theory’. 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