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Moskowitz Corporation has provided the following data for its two most recent years of operation: Moskowitz Corporation has provided the following data for its two most recent years of operation: The net operating income (loss) under variable costing in Year 2 is closest to: A) $80,000 B) $680,000 C) $620,000 D) $56,000 The net operating income (loss) under variable costing in Year 2 is closest to:


A) $80,000
B) $680,000
C) $620,000
D) $56,000

E) B) and D)
F) None of the above

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Holts Corporation has two divisions: Xi and Sigma. Data from the most recent month appear below: Holts Corporation has two divisions: Xi and Sigma. Data from the most recent month appear below: The company's common fixed expenses total $78,840. The break-even in sales dollars for the company as a whole is closest to: A) $487,491 B) $606,715 C) $466,018 D) $119,225 The company's common fixed expenses total $78,840. The break-even in sales dollars for the company as a whole is closest to:


A) $487,491
B) $606,715
C) $466,018
D) $119,225

E) All of the above
F) A) and C)

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A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: What is the total period cost for the month under absorption costing? A) $61,200 B) $133,000 C) $34,000 D) $194,200 What is the total period cost for the month under absorption costing?


A) $61,200
B) $133,000
C) $34,000
D) $194,200

E) B) and D)
F) None of the above

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Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations: What is the unit product cost for the month under variable costing? A) $134 per unit B) $161 per unit C) $138 per unit D) $111 per unit What is the unit product cost for the month under variable costing?


A) $134 per unit
B) $161 per unit
C) $138 per unit
D) $111 per unit

E) C) and D)
F) B) and D)

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Baughn Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Baughn Corporation, which has only one product, has provided the following data concerning its most recent month of operations: What is the unit product cost for the month under variable costing? A) $104 per unit B) $79 per unit C) $88 per unit D) $95 per unit What is the unit product cost for the month under variable costing?


A) $104 per unit
B) $79 per unit
C) $88 per unit
D) $95 per unit

E) B) and D)
F) A) and B)

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Danahy Corporation manufactures a single product. The following data pertain to the company's operations over the last two years: Danahy Corporation manufactures a single product. The following data pertain to the company's operations over the last two years: What was the absorption costing net operating income this year? A) $62,000 B) $74,000 C) $70,000 D) $66,000 What was the absorption costing net operating income this year?


A) $62,000
B) $74,000
C) $70,000
D) $66,000

E) A) and C)
F) A) and B)

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Neelon Corporation has two divisions: Southern Division and Northern Division. The following data are for the most recent operating period: Neelon Corporation has two divisions: Southern Division and Northern Division. The following data are for the most recent operating period: The common fixed expenses have been allocated to the divisions on the basis of sales.What is the company's overall net operating income if it operates at the break-even points for its two divisions? A) $(79,420) B) $21,700 C) $(265,420) D) $0 The common fixed expenses have been allocated to the divisions on the basis of sales.What is the company's overall net operating income if it operates at the break-even points for its two divisions?


A) $(79,420)
B) $21,700
C) $(265,420)
D) $0

E) A) and D)
F) C) and D)

Correct Answer

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Toxemia Salsa Corporation manufactures five flavors of salsa. Last year, Toxemia generated net operating income of $40,000. The following information was taken from last year's income statement segmented by flavor (brackets indicate a negative amount) : Toxemia Salsa Corporation manufactures five flavors of salsa. Last year, Toxemia generated net operating income of $40,000. The following information was taken from last year's income statement segmented by flavor (brackets indicate a negative amount) : Toxemia expects similar operating results for the upcoming year. If Toxemia wants to maximize its profitability in the upcoming year, which flavor or flavors should Toxemia discontinue? A) no flavors should be discontinued B) Wimpy C) Wimpy and Mild D) Wimpy, Mild, and Medium Toxemia expects similar operating results for the upcoming year. If Toxemia wants to maximize its profitability in the upcoming year, which flavor or flavors should Toxemia discontinue?


A) no flavors should be discontinued
B) Wimpy
C) Wimpy and Mild
D) Wimpy, Mild, and Medium

E) All of the above
F) B) and C)

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Gabuat Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Gabuat Corporation, which has only one product, has provided the following data concerning its most recent month of operations: The total contribution margin for the month under variable costing is: A) $16,800 B) $37,400 C) $50,600 D) $66,000 The total contribution margin for the month under variable costing is:


A) $16,800
B) $37,400
C) $50,600
D) $66,000

E) A) and C)
F) All of the above

Correct Answer

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Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations: The total contribution margin for the month under variable costing is: A) $62,320 B) $115,420 C) $64,820 D) $131,340 The total contribution margin for the month under variable costing is:


A) $62,320
B) $115,420
C) $64,820
D) $131,340

E) None of the above
F) B) and C)

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Allocating common fixed costs to segments on segmented income statements increases the usefulness of such statements.

A) True
B) False

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Last year, Denogean Corporation's variable costing net operating income was $64,200 and ending inventory increased by 1,900 units. Fixed manufacturing overhead cost per unit was $4 in both beginning and ending inventory.Required:Determine the absorption costing net operating income for last year.

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Manufacturing overhead deferred in (rele...

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