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Question 8 (1 point)

The production cost report shows both quantities and costs. Costs are reported in three sections: (1) costs accounted for, (2) unit costs, and (3) costs charged to department. The sections are listed in the following order:

Question 8 options:

	(2), (1), (3).
	(1), (2), (3).
	(1), (3), (2).
	(2), (3), (1).

Question 15 (1 point)

To be classified as a short-term investment, an investment must meet the following criteria:

Question 15 options:

	Readily Marketable No Loss On Disposal Intent to Convert within One Year or Operating Cycle, whichever is longer No Yes No
	Readily Marketable No Loss On Disposal Intent to Convert within One Year or Operating Cycle, whichever is longer No No Yes
	Readily Marketable No Loss On Disposal Intent to Convert within One Year or Operating Cycle, whichever is longer Yes Yes Yes
	Readily Marketable No Loss On Disposal Intent to Convert within One Year or Operating Cycle, whichever is longer Yes No Yes

Question 21 (1 point)

Which of the following pairs of terms in the area of financial statement analysis are synonymous?

Question 21 options:

	Horizontal Trend
	Vertical Ratio
	Horizontal Ratio
	Ratio Trend

Question 26 (1 point)

Sailor Corporation has the following stock outstanding:

6% Preferred, $100 par	$1,000,000
Common Stock, $50 par	2,000,000

No dividends were paid the previous 2 years. If Sailor declares $250,000 of dividends in the current year, how much will common stockholders receive if the preferred stock is cumulative?

Question 26 options:

	$60,000.
	$70,000.
	$180,000.
	$190,000.

Question 30 (1 point)

What is the effect on total paid-in capital of a stock dividend and a stock split, respectively?

Question 30 options:

	Stock Dividend Stock Split Decrease No effect
	Stock Dividend Stock Split No effect No effect
	Stock Dividend Stock Split Increase No effect
	Stock Dividend Stock Split Decrease Decrease

Question 40 (1 point)

Matthew Corporation manufactures paper shredding equipment. Each paper shredder has a standard materials cost of 20 pounds at $7.50 per pound or $150.00 in total. 40,000 pounds of materials were purchased for $320,000 during the period and 39,000 pounds were used in the production of 2,000 good units. What is the direct materials price variance?

Use "U" or "F" to indicate whether the variance is unfavorable or favorable. Do not show your work or include any additional text with your answer. For example, if your answer is $100,000 unfavorable, you should enter $100,000 U.

Question 40 options:

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Question 41 (1 point)

Matthew Corporation manufactures paper shredding equipment. Each paper shredder has a standard materials cost of 20 pounds at $7.50 per pound or $150.00 in total. 40,000 pounds of materials were purchased for $320,000 during the period and 39,000 pounds were used in the production of 2,000 good units. What is the direct materials usage variance?

Use "U" or "F" to indicate whether the variance is unfavorable or favorable. Do not show your work or include any additional text with your answer. For example, if your answer is $100,000 unfavorable, you should enter $100,000 U.

Question 41 options:

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Question 42 (1 point)

Matthew Corporation manufactures paper shredding equipment and uses a process costing system. 2,000 units were in process at the beginning of the period, 60% complete. 20,000 units were started into production during the period; 1,000 were in process at the end of the period, 60% complete. What are the equivalent units for conversion costs?

Do not show your work or include any additional text with your answer. For example, if your answer is 10,000, you should enter 10,000.

Question 42 options:

Question 44 (1 point)

Matthew Corporation manufactures paper shredding equipment and sells each unit for $500. Variable costs per unit equal $300. Total fixed costs equal $800,000. Matthew is currently selling 5,000 units per period and would like to earn net income of $400,000. How many sales units are necessary to attain the desired income?

Do not show your work or include any additional text with your answer. For example, if your answer is 10,000, you should enter 10,000.

Question 44 options:

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