Reference no: EM132841457

Problem 1: Which cost accumulation procedure is best suited to a continuous mass production process of similar units?

Select one:

a. Job order

b. Process

c. Standard

d. Actual

Problem 2: When the contract interest rate for a bond exceeds the effective interest rate of the bond, then:

Select one:

a. The price of the bond will be equal to the future cash flow associated with the bond

b. The bond will be issued at a premium.

c. The bond will be issued at a discount.

d. The face value of the bond will fluctuate over its life.

Problem 3: The Environmental Filter Company is planning to sell air filter systems for $3,500 per unit. Variable costs are $2,000 per unit and total fixed costs are $1,275,000. What is the dollar value of sales necessary to break even?

Select one:

a. $3,000,000

b. $2,000,000

c. $2,500,000

d. $2,975,000