Unless otherwise noted, for any questions that require round…

Unless otherwise noted, for any questions that require rounding, round intermediate calculations to 4 decimal places and round your final answer to the same decimal place as the potential answer choices that are presented. Be sure to read all of the possible answer choices because some questions include potential answers of “all of the above” or “none of the above.” There are 25 questions, each worth 5 points. Formulas Rate variance = actual quantity * |actual price – standard price| Efficiency variance = standard price * |actual quantity – standard quantity| Price variance = actual quantity * |actual price – standard price| Quantity variance = standard price * |actual quantity – standard quantity|

A company provides the following information about its opera…

A company provides the following information about its operations during January 2019: Direct materials used $55,000 Direct labor incurred   $100,000 Variable manufacturing overhead $135,000 Variable selling and administrative expenses             $40,000 Fixed manufacturing overhead $200,000 Fixed selling and administrative expenses $70,000  What is the amount of the company’s total period costs under variable costing?

The teacher gives Rosemary and Anna an equally small block o…

The teacher gives Rosemary and Anna an equally small block of clay. Anna rolled her clay into a long snake-like shape. Rosemary looked over at Anna’s snake and yelled that Anna has more clay than her small block of clay. Piaget would say that Rosemary is MOST likely displaying an absence of ________.

Sally, Jim, and Molly are playing. When Jim leaves the room…

Sally, Jim, and Molly are playing. When Jim leaves the room to go to the bathroom, Sally watches Molly put a worm in a refrigerator. Molly then asks Sally what Jim will expect to find in the fridge when he comes back. If Sally says that Jim will expect to find a worm in the fridge, then Sally:

Dominic (age 35) and his daughter (age 1) both take an IQ te…

Dominic (age 35) and his daughter (age 1) both take an IQ test. They take it again when Dominic is 45 and his daughter is 11. What would be most likely observed if Dominic’s scores when he was 35 and 45 were compared and his daughter’s scores when she was 1 and 11 were compared?

XYZ Exterminators produces chemicals for the bug spray indus…

XYZ Exterminators produces chemicals for the bug spray industry.  The company has 3,000 gallons of Chemical C that can be sold for $2,500 or can be processed further into 2,400 gallons of Chemical D (600 gallons would be lost in the conversion process).  The sales value of Chemical D is $4.50 per gallon, and the additional processing cost is $8,100. If the company decides to process Chemical C into Chemical D, what would be the effect on profitability?