It sounds like you are looking for a that includes sample questions and solutions for an Accounting Exit Exam (common for graduating students in the Philippines, Ethiopia, India, and other countries).
Contribution margin per unit = $50 – $30 = $20 Break-even (units) = Fixed Costs / CM per unit = $20,000 / $20 = 1,000 units Answer: c) 1,000 Question 3 (Auditing – Internal Control) Which of the following is a detective control? a) Segregation of duties b) Requiring two signatures on checks c) Monthly bank reconciliation d) Using pre-numbered invoices
Direct materials: $4,000 Direct labor (200 × $15): $3,000 Applied OH (200 × $10): $2,000 Total job cost = $9,000
Bonus allocation: A: 60% × $10,000 = $6,000 B: 40% × $10,000 = $4,000
Book balance: $13,500 Less: Bank service charge: –$50 Less: NSF check: –$450 Adjusted book balance: $13,000
Answer: b) Jan 20 Under accrual accounting, revenue is recognized when control of goods transfers to the buyer (delivery date = Jan 20), not when cash is received or contract signed. Question 2 (Cost Accounting – Break-even Point) Selling price per unit = $50 Variable cost per unit = $30 Total fixed costs = $20,000 What is the break-even point in units? a) 400 b) 500 c) 1,000 d) 667