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WorksheetsBus Math Chpt 18 - Accounting
Total questions: 12
Worksheet time: 3hrs 0mins
Name
Class
Date
1.
Kiser Corporation recorded $541,209 in expenses last month. They spent $7,650.85 on insurance during the month. What percent of total expenses did Kiser spend on insurance?
a)
1.41%
b)
2.25%
c)
2.71%
d)
3.19%
2.
A time study was conducted on Roger Manuel’s job as a box filler. It was determined that he spends an average of 31.6 seconds filling each box. During each hour, he works 45 minutes. How many boxes can Roger fill per hour?
a)
15
b)
38
c)
71
d)
85
3.
Oatmeal sells for $1.95 per container. The variable cost per container is $0.35. The total fixed costs are $21,500. What is the break-even point in units? Round to the nearest unit.
a)
10,984
b)
13,438
c)
18,430
d)
22,300
4.
A computer system originally cost $123,400. It had an estimated life of 5 years and a salvage value of $10,000. What is the annual straight-line depreciation?
a)
$18,450
b)
$19,750
c)
$22,680
d)
$24,680
5.
A new phone system was purchased for $3,200 with an estimated resale value after five years of $800. It was determined that the phone system would depreciate $480 per year. What is the book value at the end of the second year?
a)
$960
b)
$1,020
c)
$2,240
d)
$2,400
6.
A courier service purchased a new bicycle for $3,400. MACRS allows bicycles to be depreciated fully in 3 years according to these percents: 30% the first year, 42% the second year, and 28% the third year. What is the annual depreciation for the second year?
a)
$1,300
b)
$1,410
c)
$1,428
d)
$1,516
7.
Sandwich Wraps Inc. reported liabilities of $187,500 and owner’s equity of $75,500. Find the assets.
a)
$112,000
b)
$154,000
c)
$202,400
d)
$263,000
8.
Martha McMillen’s business has total assets of $123,400 and total liabilities of $54,300. What is the current ratio?
a)
2.3
b)
2.4
c)
3.1
d)
3.2
9.
Sales for the Motor Sports Company were $1,200,900. The returned merchandise totaled $32,300. The cost of goods sold was $340,000 and the total operating expenses were $213,400. What was the net income for Motor Sports Company?
a)
$540,900
b)
$585,000
c)
$615,200
d)
$647,500
10.
Lou's store's total gross payroll for the week is $416.74, and the total deductions are $97.82. What is the net payroll?
a)
$322.14
b)
$320.54
c)
$319.68
d)
$318.92
11.
The Donnely Manufacturing Co manufactures plastic tablecloths. Each roll of printed plastic yields 120 tablecloths. Each roll costs $21.70. The direct labor charge is $19.20 per hour. The machine operator can cut and fold 90 tablecloths per hour. What is the prime cost of manufacturing each tablecloth?
a)
$.345
b)
$.298
c)
$.287
d)
$.394
12.
Tom's Train Station Inc. began the month with an inventory valued at $34,767.80. During the month, Tom's received 5 shipments valued at $1,274.74, $4,756.44, $983.45, $2,465.39, and $416.93. Tom's month-end inventory was valued at $36,193.48. What is the cost of good sold?
a)
$6,762.90
b)
$7,452.98
c)
$8,471.27
d)
$9,002.43
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