McConnell is a manufacturer of industrial components.

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McConnell is a manufacturer of industrial components. One of its products that is used as a subcomponent in auto

manufacturing is JC-46. This product has the following financial structure per unit.

Selling price $150
Direct materials 20
Direct labor 15
Variable manufacturing overhead 12
Fixed manufacturing overhead 30
Shipping and handling 3
Fixed selling and administrative 10
Total costs $ 90

McConnell has received a special, one-time order for 1,000 JC-46 parts. Assume that McConnell is operating at full capacity, and that the contribution of the output would be displaced by the special order is $10,000. The minimum price that is acceptable for this one-time special order must be greater than

a) $60.
b) $70.
c) $87.
d) $100.

 
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The following are relevant data for calculating sales variances for Lumber Co., which sells its sole product in two countries.

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The following are relevant data for calculating sales variances for Lumber Co., which sells its sole product in

two countries.

John Quincy Total
Budgeted selling price per unit $6.00 $10.00 NA
Budgeted variable cost per unit   3.00 7.50 NA
Budgeted contribution margin per unit $3.00 $ 2.50 NA
Budgeted unit sales 300 200 500
Budgeted mix percentage 60% 40% 100%
Actual units sold 260 260 520
Actual selling price per unit $6.00 $9.50 NA

The sales quantity variance for John and Quincy is

a) $156 U.
b) $30 F.
c) $56 F.
d) $100F.

 
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For a simple regression analysis model that is used to allocate factory overhead,

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For a simple regression analysis model that is used to allocate factory overhead, an internal auditor finds that

the intersection of the line of best fit for the overhead allocation with the y-axis is $5,000. The slope of the trend line is .20. The independent variable, factory wages, amounts to $900,000 for the month. What is the estimated amount of factory overhead to be allocated for the month

       a) $180,000
b) $230,000
c) $92,500
d) $185,000

 
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1. How could separation of duties enhance internal controls?

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1. How could separation of duties enhance internal controls?

2. What is the difference between general

controls and application controls?

NO COPY AND PASTING FROM THE INTERNET!!

 
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