University Of Arizona ATMO 005 Quiz 5 1)Based on class discussion, which of the following would most likely be considered a mixed cost? Cost of an all-you-can-eat buffet Mobile phone plan Utilities Wages Salary     2

University Of Arizona

ATMO 005

Quiz 5

1)Based on class discussion, which of the following would most likely be considered a mixed cost?

Cost of an all-you-can-eat buffet

Mobile phone plan

Utilities

Wages Salary

2. The Benson Corporation reported the following cost information for the production of 100,000 units: (a) direct materials $300,000, (b) direct labor $200,000, (c) period costs $25,000 and (d) overhead costs $250,000. If the company sold 25,000 units, what total dollar amount would it report as cost of goods sold?

3. When recording a transaction in the accounting framework, what is the minimum number of accounts that will be impacted?

1

2

3

4

4. There is no minimum number of accounts

Total fixed costs

increase as volume increases.

decrease as volume increases.

stay the same as volume increases.

5. What were your virtual company’s (i.e. class section in Lemonade Tycoon) total period costs for the most recent single day of operations?