A100 CHECKPOINT 4

Calvin Corp., a merchandising company, reported the following results for November:Sales $4,096,400 Cost of goods sold (all variable) $2,194,500 Total variable selling expense $238,700 Total fixed selling expense $144,700 Total variable administrative expense $238,700 Total fixed administrative expense $282,900 The contribution margin for November is: - $1,424,500 - $996,900 - $1,901,900 - $3,191,400

$1,424,500

Which of the following is correct concerning reactions to INCREASES inactivity? ( C4 Q5 image ) - Choice B - Choice A - Choice C - Choice D

Choice D

Manufacturing overhead includes: - all manufacturing costs except direct labor and direct materials. - all selling and administrative costs. - all direct material, direct labor and administrative costs. - all manufacturing costs except direct labor.

all manufacturing costs except direct labor and direct materials.

Direct costs: - can be easily traced to a particular cost object. - are the variable costs of producing a product. - are incurred to benefit a particular accounting period. - are incurred due to a specific decision.

can be easily traced to a particular cost object

The salary paid to the president of a company would best be classified on the income statement as a(n): - direct labor cost. - product cost. - period cost. - manufacturing overhead cost.

period cost