Basic Concepts Review - 1st BGU B

Basic Concepts Review - 1st BGU A

Multiple Choice

Calculate the revenue when you sell 80 pairs of socks for $3.50

• $ 240

• $ 200

• $ 250

• $ 280

Multiple Choice

Calculate the revenue when you have 24 customers who buy your newly designed shoes – half of the customers buy the standard pairs for $ 22,99, but half choose to customise them, and pay $ 28,50 per pair.

• $ 551,76

• $ 1 235,76

• $ 684

• $ 617,88

Multiple Choice

Calculate the revenue when you sell 20 printed t-shirts, which normally sell for $ 7, but the first 10 customers received a discount of 30%.

• $ 110

• $ 118

• $ 119

• $ 115

Multiple Choice

Company XYZ Inc. had revenue from the sale of $ 80,000 for the year 2020. It paid $ 16,000 as employee wages, $ 30,000 for raw materials and goods, $ 3,000 for other office and factory maintenance expenses. The Company had interest income of $ 2000 and paid $ 1500 in taxes. What is the net income of the Company ABC Inc.?

• $ 33 .000,00

• $ 27.500,00

• $ 31.500,00

• $ 30.000,00

Multiple Choice

Which of the following items is and expense for a bakery?

• flour

• baker salary

• butter

• janitor salary

Multiple Select

Which of the following items are costs for a bakery?

• flour

• baker salary

• butter

• rent

Multiple Choice

Supercines has

• Cost of sales

• Manufacturing cost

Multiple Choice

De Prati has

• Cost of sales

• Manufacturing cost

Multiple Choice

Apple has

• Cost of sales

• Manufacturing cost

What do you need to consider when making an investment

Multiple Choice

Summarize the cost of direct materials, direct labor and manufacturing overhead incurred in producing the goods.

• Manufacturing costs

• Manufacturing overhead

• Cost of goods manufactured

• Cost of goods sold

Multiple Choice

Factory insurance is considered to be a

• Manufacturing overhead costs

• Prime costs

• Administrative costs

• Operating income

Multiple Choice

It increases or decreases with your business activity. Some examples are direct materials, production supplies, shipping costs, merchant fees, and billable wages.

• Fixed Cost

• Variable Cost

• Mixed Cost

• Irrelevant Cost

Multiple Choice

Costs that remain the same in total regardless of changes in the activity level.

• Variable Cost

• Fixed Cost

• Relevant Cost

• Sunk Cost

Multiple Choice

Material that is not part of a production and it can't be conveniently traced to specific product

• Expenses

• Raw Material

• Indirect Materials

• Direct Material

Multiple Choice

Costs that possess characteristics of both fixed and variable cost are called...

• Semi-variable cost

• Step cost

• variable cost

• fixed cost