This document appears to be a practice exam for an ACC 349 final exam. It contains 30 multiple choice questions covering topics related to managerial and cost accounting, including factory overhead application, job order costing, activity-based costing, standard costs, budgets, and variance analysis. The questions assess understanding of key cost accounting concepts and ability to apply those concepts to calculate costs, variances, break-even points, and make or buy decisions.
This document provides a 100-question multiple choice exam on accounting concepts related to job order costing, activity-based costing, budgeting, and managerial accounting. Some key topics covered include manufacturing overhead application, standard costing, make-or-buy decisions, and pricing strategies. The exam questions require understanding of concepts like variable versus fixed costs, cost-volume-profit analysis, and variances.
This document provides an example exam for an accounting course (ACCT 326) with 9 multiple choice questions covering topics like overhead allocation, cost of goods sold, job order costing, and activity-based costing. The questions provide financial and production data for various manufacturing companies and ask the student to perform calculations and match concepts to their descriptions.
This document contains solutions to multiple choice and problem-style questions for an ACCT 505 final exam. The questions cover topics such as flexible budget analysis, make-or-buy analysis, absorption vs variable costing income statements, schedule of cost of goods manufactured and cost of goods sold, process costing using the weighted average method, net present value calculations, break-even analysis, predetermined overhead rates, and cash budgeting.
This document provides a link to answers for an ACC 349 Final Exam. It lists 33 multiple choice questions covering topics like job order costing, activity-based costing, variable costing, absorption costing, standard costs, budgeting and variance analysis. Clicking the link provides the answers to the accounting exam questions.
The document appears to be a practice exam for an accounting course (ACC 349) covering topics like job order costing, activity-based costing, variable costing, and standard costs. It contains 31 multiple choice questions testing understanding of key concepts in managerial and cost accounting. Some example questions ask about how to handle manufacturing overhead costs, what costs would be included in overhead, and advantages of using standard costs.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, absorption costing, activity-based costing, budgeting, and decision making. The document encourages students to purchase the answers to the exam questions.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, activity-based costing, budgeting, standard costs, variable costing, and decision making. Students can purchase the answers to the exam questions by clicking "Buy Answer" and completing the checkout process on the provided website.
This document provides a 100-question multiple choice exam on accounting concepts related to job order costing, activity-based costing, budgeting, and managerial accounting. Some key topics covered include manufacturing overhead application, standard costing, make-or-buy decisions, and pricing strategies. The exam questions require understanding of concepts like variable versus fixed costs, cost-volume-profit analysis, and variances.
This document provides an example exam for an accounting course (ACCT 326) with 9 multiple choice questions covering topics like overhead allocation, cost of goods sold, job order costing, and activity-based costing. The questions provide financial and production data for various manufacturing companies and ask the student to perform calculations and match concepts to their descriptions.
This document contains solutions to multiple choice and problem-style questions for an ACCT 505 final exam. The questions cover topics such as flexible budget analysis, make-or-buy analysis, absorption vs variable costing income statements, schedule of cost of goods manufactured and cost of goods sold, process costing using the weighted average method, net present value calculations, break-even analysis, predetermined overhead rates, and cash budgeting.
This document provides a link to answers for an ACC 349 Final Exam. It lists 33 multiple choice questions covering topics like job order costing, activity-based costing, variable costing, absorption costing, standard costs, budgeting and variance analysis. Clicking the link provides the answers to the accounting exam questions.
The document appears to be a practice exam for an accounting course (ACC 349) covering topics like job order costing, activity-based costing, variable costing, and standard costs. It contains 31 multiple choice questions testing understanding of key concepts in managerial and cost accounting. Some example questions ask about how to handle manufacturing overhead costs, what costs would be included in overhead, and advantages of using standard costs.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, absorption costing, activity-based costing, budgeting, and decision making. The document encourages students to purchase the answers to the exam questions.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, activity-based costing, budgeting, standard costs, variable costing, and decision making. Students can purchase the answers to the exam questions by clicking "Buy Answer" and completing the checkout process on the provided website.
For more classes visit
www.snaptutorial.com
ACC 434 Final Exams
1. (TCO 1) a significant limitation of activity-based costing is the (Points: 5)
2. (TCO 1) Ireland Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $180,000. The budgeted number of nozzles to be inserted is 80,000. What is the budgeted indirect cost allocation rate for this activity? (Points: 5)
3. (TCO 2) Overhead costs have been increasing due to all of the following except (Points: 5)
4. (TCO 2) Information pertaining to Brenton Corporation's sales revenue is presented in the following table:
February March April
1. Silver City performed a flexible budget analysis to evaluate its cost control. Actual costs were compared to the static budget.
2. Globe Co. conducted a make-or-buy analysis to determine if it should continue producing electronic hinges internally or purchase them from an outside supplier. The analysis showed purchasing from Supplier C would be the most cost effective option.
3. Mesa Company prepared income statements using both absorption costing and variable costing. Variable costing more accurately reflects periodic income by excluding fixed overhead from the cost of goods sold calculation.
1. The company uses a job-order costing system. I would recommend assigning manufacturing overhead to production using a predetermined overhead rate based on normal capacity.
2. I have recomputed the unit costs using a single predetermined overhead rate, which results in more consistent unit costs across quarters.
3. In an activity-based costing system, overhead costs are assigned to products based on their consumption of activities and cost pools. I have computed the overhead cost applied to each product for Sultan Company by distributing the activity costs to products based on their activity usage.
ACCT 505 Week 1-7 All Discussion Questions
ACCT 505 Week 1 Case Study
ACCT 505 Week 2 Quiz Job Order and Process Costing Systems
ACCT 505 Week 2 Quiz Set 2
Bus 475 final exam 100 questions with answers 4th set answers are hererenat88
click on the link, you will find what you were looking for:homeworkmye.com
Customer support is very important to us. Please use our online chat system in case you have any questions. Also, you can email them to us at homeworkmye@gmail.com. We will do our best to answer you!
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ACCT 505 Week 1-7 All Discussion Questions
ACCT 505 Week 1 Case Study
ACCT 505 Week 2 Quiz Job Order and Process Costing Systems
1) A cost management system provides ________.A) measures of i.docxdorishigh
1) A cost management system provides ________.
A) measures of inventory value and cost of goods sold for financial reporting
B) cost information for strategic management decisions
C) cost information for operational control
D) all of the above
2) Cost accounting is that part of the cost management system that measures costs for the sole purpose of financial reporting. True or False
3) Which of the following costs is a direct cost to a manufactured product?
A) depreciation expense on factory equipment used for the product
B) the wages of an assembly worker who works specifically on the product
C) accountants who accumulate the costs of the product
D) a factory supervisor who oversees the production of several different types of products
4) Physically tracing ________ costs is usually straightforward, but allocating ________ costs is usually more complex.
A) indirect; direct
B) direct; product
C) direct; indirect
D) unallocated; indirect
5) Unallocated costs ________.
A) have an identifiable relationship to a cost pool
B) lack an identifiable relationship to a cost pool
C) have an identifiable relationship to a cost object
D) lack an identifiable relationship to a cost object
6) Unallocated costs ________.
A) are not recorded in the cost accounting system
B) are not allocated to cost objects
C) are direct costs for service firms
D) are indirect costs for merchandising firms
7) The manufacturing division of an electronics company uses activity-based costing. The company has identified three activities and the related cost drivers for indirect production costs.
Activity
Cost Driver
Activity 1
Direct materials cost
Activity 2
Direct labor cost
Activity 3
Kilowatt hours
Three types of products are produced. Direct costs and cost-driver activity for each product for a month are as follows:
Product A
Product B
Product C
Direct materials cost
$75,000
$50,000
$125,000
Direct labor cost
$6,000
$1,000
$3,000
Direct labor hours
1,000
500
1,500
Kilowatt hours
150,000
200,000
150,000
Indirect production costs for the month are as follows:
Activity 1
$12,000
Activity 2
20,000
Activity 3
16,000
Total
$48,000
Required:
A) Compute the indirect production costs allocated to each product using the ABC system.
B) Compute the indirect production costs allocated to each product using a traditional costing system. Assume indirect production costs are allocated to each product using the cost driver: direct labor hours.
8) Historical or past information can have an indirect bearing on a decision because ________.
A) the past can be changed
B) it can help predict the future
C) past decisions are always good decisions
D) none of the above
9) ________ is the predicted future costs and revenues that will differ among alternative courses of action.
A) Relevant information
B) Sunk costs
C) Predictable information
D) Target pricing
10) Information is relevant in business decisions if it is a(n) ________.
A) expected future cost or it diffe ...
A PROCESS COST SYSTEM WOULD BE USED FORSophiaMorgans
This document contains a multiple choice quiz about process costing concepts. Process costing is an accounting method used for manufacturing operations where identical units are produced continuously and costs are accumulated for each department or production process. Some key points covered include:
- Process costing is used for industries like motion pictures, healthcare, and cereal production.
- Manufacturing overhead costs are assigned to Work in Process and then transferred to Finished Goods Inventory.
- Equivalent units are used to allocate overhead and determine unit costs across departments.
- Cost of Goods Sold is not recorded as part of accumulating manufacturing costs in a job order cost system.
Test II - Chapters 5 thru 71.Data concerning Odum Corporatio.docxmattinsonjanel
Test II - Chapters 5 thru 7
1.
Data concerning Odum Corporation's single product appear below:
The break-even in monthly unit sales is closest to:
A) 1,413 units
B) 1,110 units
C) 622 units
D) 1,048 units
2.
A cement manufacturer has supplied the following data:
What is the company's unit contribution margin?
A) $2.00
B) $0.32
C) $4.30
D) $2.30
3.
Tanigawa Inc. has an operating leverage of 8.7. If the company's sales increase by 8%, its net operating income should increase by about:
A) 69.6%
B) 8.7%
C) 108.8%
D) 8.0%
4.
A company that makes organic fertilizer has supplied the following data:
The company's unit contribution margin is closest to:
A) $5.25
B) $4.05
C) $3.50
D) $2.35
5.
Weinreich Corporation produces and sells a single product. Data concerning that product appear below:
The company is currently selling 2,000 units per month. Fixed expenses are $131,000 per month. The marketing manager believes that an $18,000 increase in the monthly advertising budget would result in a 170 unit increase in monthly sales. What should be the overall effect on the company's monthly net operating income of this change?
A) Increase of $2,700
B) Increase of $15,300
C) Decrease of $18,000
D) Decrease of $2,700
6.
Guillet Inc. produces and sells a single product. The selling price of the product is $180.00 per unit and its variable cost is $46.80 per unit. The fixed expense is $618,048 per month.
The break-even in monthly unit sales is closest to:
A) 3,434 units
B) 4,640 units
C) 7,093 units
D) 13,206 units
7.
Danneman Corporation's fixed monthly expenses are $13,000 and its contribution margin ratio is 56%. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $41,000?
A) $9,960
B) $5,040
C) $22,960
D) $28,000
8.
Green Enterprises produces a single product. The following data were provided by the company for the most recent period:
For the period above, one would expect the net operating income under absorption costing to be:
A) higher than the net operating income under variable costing.
B) lower than the net operating income under variable costing.
C) the same as the net operating income under variable costing.
D) The relation between absorption costing net operating income and variable costing net operating income cannot be determined.
9.
Vanstee Corporation manufactures a variety of products. Variable costing net operating income last year was $60,000 and this year was $67,000. Last year, $37,000 in fixed manufacturing overhead costs were deferred in inventory under absorption costing. This year, $8,000 in fixed manufacturing overhead costs were released from inventory under absorption costing.
What was the absorption costing net operating income this year?
A) $38,000
B) $96,000
C) $75,000
D) $59,000
10.
Green Enterprises produces a single product. The following data were provided by the company for the most r ...
This document contains a practice exam for ACC 349 with 50 multiple choice questions covering topics like job order costing, absorption costing, variable costing, budgeting, standard costs, and activity-based costing. It provides the questions, possible answer choices for each question, and in some cases brief explanations or solutions. The document aims to help students prepare for and study for their ACC 349 final exam.
The document provides a full tutorial with answers to ACC 400's final examination. It includes 30 multiple choice questions testing concepts like managerial accounting, cost accounting, budgeting, and variance analysis. To access the answers, users can copy and paste the provided link into their browser or email the listed address for inquiries.
The document provides a full ACC 400 final exam with 30 multiple choice questions covering topics like managerial accounting, cost accounting, budgeting, and variance analysis. It also provides the answers to download and check your work. To receive additional exam materials or have questions answered, contact the email provided.
1. The document provides sample exam questions for ACC 434 final exams. It includes 25 multiple choice questions covering topics like activity-based costing, budgeting, cost allocation, transfer pricing, quality costs, and inventory costs.
2. The questions assess understanding of cost accounting concepts like indirect cost rates, budgeted cash payments, sunk costs, cost functions, life-cycle budgeting, sensitivity analysis, and inventory carrying costs.
3. Answers to the exam questions can be found by visiting the website provided. The questions cover a range of cost accounting topics tested on the ACC 434 final exam.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, absorption costing, activity-based costing, budgeting, and decision making. The document encourages students to purchase the answers to the exam questions.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, absorption costing, variable costing, budgeting, standard costs, and decision making. The document provides a full solution key for studying for or cheating on the ACC 349 Final Exam.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, absorption costing, activity-based costing, budgeting, and decision making. The document encourages students to purchase the answers to the exam questions.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, activity-based costing, budgeting, standard costs, variable versus absorption costing, and decision making. The document provides a link to purchase the full exam answers without registration.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, activity-based costing, budgeting, standard costs, variable versus absorption costing, and decision making. The document provides a link to purchase the full exam answers without registration.
This document provides the questions and answers for the ACC 349 Final Exam from 2016 July. It includes 20 multiple choice questions covering topics like job order costing, activity-based costing, variable costing, and standard costs. Students can purchase the answers to the entire exam questions by clicking "Buy Answer" and completing the payment process on the provided website.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, activity-based costing, budgeting, standard costs, variable versus absorption costing, and decision making. The document provides a link to purchase the full exam answers without registration.
This document appears to be a practice exam for an ACC 434 final exam. It contains 25 multiple choice questions covering a variety of accounting cost and management topics, including activity-based costing, budgeting, cost estimation methods, sunk costs, life-cycle budgeting, cost allocation, sensitivity analysis, quality costs, and inventory carrying costs. The questions require understanding of accounting concepts and calculations to determine the correct multiple choice answer.
For more classes visit
www.snaptutorial.com
ACC 434 Final Exams
1. (TCO 1) a significant limitation of activity-based costing is the (Points: 5)
2. (TCO 1) Ireland Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $180,000. The budgeted number of nozzles to be inserted is 80,000. What is the budgeted indirect cost allocation rate for this activity? (Points: 5)
3. (TCO 2) Overhead costs have been increasing due to all of the following except (Points: 5)
4. (TCO 2) Information pertaining to Brenton Corporation's sales revenue is presented in the following table:
February March April
1. Silver City performed a flexible budget analysis to evaluate its cost control. Actual costs were compared to the static budget.
2. Globe Co. conducted a make-or-buy analysis to determine if it should continue producing electronic hinges internally or purchase them from an outside supplier. The analysis showed purchasing from Supplier C would be the most cost effective option.
3. Mesa Company prepared income statements using both absorption costing and variable costing. Variable costing more accurately reflects periodic income by excluding fixed overhead from the cost of goods sold calculation.
1. The company uses a job-order costing system. I would recommend assigning manufacturing overhead to production using a predetermined overhead rate based on normal capacity.
2. I have recomputed the unit costs using a single predetermined overhead rate, which results in more consistent unit costs across quarters.
3. In an activity-based costing system, overhead costs are assigned to products based on their consumption of activities and cost pools. I have computed the overhead cost applied to each product for Sultan Company by distributing the activity costs to products based on their activity usage.
ACCT 505 Week 1-7 All Discussion Questions
ACCT 505 Week 1 Case Study
ACCT 505 Week 2 Quiz Job Order and Process Costing Systems
ACCT 505 Week 2 Quiz Set 2
Bus 475 final exam 100 questions with answers 4th set answers are hererenat88
click on the link, you will find what you were looking for:homeworkmye.com
Customer support is very important to us. Please use our online chat system in case you have any questions. Also, you can email them to us at homeworkmye@gmail.com. We will do our best to answer you!
For more classes visit
www.snaptutorial.com
ACCT 505 Week 1-7 All Discussion Questions
ACCT 505 Week 1 Case Study
ACCT 505 Week 2 Quiz Job Order and Process Costing Systems
1) A cost management system provides ________.A) measures of i.docxdorishigh
1) A cost management system provides ________.
A) measures of inventory value and cost of goods sold for financial reporting
B) cost information for strategic management decisions
C) cost information for operational control
D) all of the above
2) Cost accounting is that part of the cost management system that measures costs for the sole purpose of financial reporting. True or False
3) Which of the following costs is a direct cost to a manufactured product?
A) depreciation expense on factory equipment used for the product
B) the wages of an assembly worker who works specifically on the product
C) accountants who accumulate the costs of the product
D) a factory supervisor who oversees the production of several different types of products
4) Physically tracing ________ costs is usually straightforward, but allocating ________ costs is usually more complex.
A) indirect; direct
B) direct; product
C) direct; indirect
D) unallocated; indirect
5) Unallocated costs ________.
A) have an identifiable relationship to a cost pool
B) lack an identifiable relationship to a cost pool
C) have an identifiable relationship to a cost object
D) lack an identifiable relationship to a cost object
6) Unallocated costs ________.
A) are not recorded in the cost accounting system
B) are not allocated to cost objects
C) are direct costs for service firms
D) are indirect costs for merchandising firms
7) The manufacturing division of an electronics company uses activity-based costing. The company has identified three activities and the related cost drivers for indirect production costs.
Activity
Cost Driver
Activity 1
Direct materials cost
Activity 2
Direct labor cost
Activity 3
Kilowatt hours
Three types of products are produced. Direct costs and cost-driver activity for each product for a month are as follows:
Product A
Product B
Product C
Direct materials cost
$75,000
$50,000
$125,000
Direct labor cost
$6,000
$1,000
$3,000
Direct labor hours
1,000
500
1,500
Kilowatt hours
150,000
200,000
150,000
Indirect production costs for the month are as follows:
Activity 1
$12,000
Activity 2
20,000
Activity 3
16,000
Total
$48,000
Required:
A) Compute the indirect production costs allocated to each product using the ABC system.
B) Compute the indirect production costs allocated to each product using a traditional costing system. Assume indirect production costs are allocated to each product using the cost driver: direct labor hours.
8) Historical or past information can have an indirect bearing on a decision because ________.
A) the past can be changed
B) it can help predict the future
C) past decisions are always good decisions
D) none of the above
9) ________ is the predicted future costs and revenues that will differ among alternative courses of action.
A) Relevant information
B) Sunk costs
C) Predictable information
D) Target pricing
10) Information is relevant in business decisions if it is a(n) ________.
A) expected future cost or it diffe ...
A PROCESS COST SYSTEM WOULD BE USED FORSophiaMorgans
This document contains a multiple choice quiz about process costing concepts. Process costing is an accounting method used for manufacturing operations where identical units are produced continuously and costs are accumulated for each department or production process. Some key points covered include:
- Process costing is used for industries like motion pictures, healthcare, and cereal production.
- Manufacturing overhead costs are assigned to Work in Process and then transferred to Finished Goods Inventory.
- Equivalent units are used to allocate overhead and determine unit costs across departments.
- Cost of Goods Sold is not recorded as part of accumulating manufacturing costs in a job order cost system.
Test II - Chapters 5 thru 71.Data concerning Odum Corporatio.docxmattinsonjanel
Test II - Chapters 5 thru 7
1.
Data concerning Odum Corporation's single product appear below:
The break-even in monthly unit sales is closest to:
A) 1,413 units
B) 1,110 units
C) 622 units
D) 1,048 units
2.
A cement manufacturer has supplied the following data:
What is the company's unit contribution margin?
A) $2.00
B) $0.32
C) $4.30
D) $2.30
3.
Tanigawa Inc. has an operating leverage of 8.7. If the company's sales increase by 8%, its net operating income should increase by about:
A) 69.6%
B) 8.7%
C) 108.8%
D) 8.0%
4.
A company that makes organic fertilizer has supplied the following data:
The company's unit contribution margin is closest to:
A) $5.25
B) $4.05
C) $3.50
D) $2.35
5.
Weinreich Corporation produces and sells a single product. Data concerning that product appear below:
The company is currently selling 2,000 units per month. Fixed expenses are $131,000 per month. The marketing manager believes that an $18,000 increase in the monthly advertising budget would result in a 170 unit increase in monthly sales. What should be the overall effect on the company's monthly net operating income of this change?
A) Increase of $2,700
B) Increase of $15,300
C) Decrease of $18,000
D) Decrease of $2,700
6.
Guillet Inc. produces and sells a single product. The selling price of the product is $180.00 per unit and its variable cost is $46.80 per unit. The fixed expense is $618,048 per month.
The break-even in monthly unit sales is closest to:
A) 3,434 units
B) 4,640 units
C) 7,093 units
D) 13,206 units
7.
Danneman Corporation's fixed monthly expenses are $13,000 and its contribution margin ratio is 56%. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $41,000?
A) $9,960
B) $5,040
C) $22,960
D) $28,000
8.
Green Enterprises produces a single product. The following data were provided by the company for the most recent period:
For the period above, one would expect the net operating income under absorption costing to be:
A) higher than the net operating income under variable costing.
B) lower than the net operating income under variable costing.
C) the same as the net operating income under variable costing.
D) The relation between absorption costing net operating income and variable costing net operating income cannot be determined.
9.
Vanstee Corporation manufactures a variety of products. Variable costing net operating income last year was $60,000 and this year was $67,000. Last year, $37,000 in fixed manufacturing overhead costs were deferred in inventory under absorption costing. This year, $8,000 in fixed manufacturing overhead costs were released from inventory under absorption costing.
What was the absorption costing net operating income this year?
A) $38,000
B) $96,000
C) $75,000
D) $59,000
10.
Green Enterprises produces a single product. The following data were provided by the company for the most r ...
This document contains a practice exam for ACC 349 with 50 multiple choice questions covering topics like job order costing, absorption costing, variable costing, budgeting, standard costs, and activity-based costing. It provides the questions, possible answer choices for each question, and in some cases brief explanations or solutions. The document aims to help students prepare for and study for their ACC 349 final exam.
The document provides a full tutorial with answers to ACC 400's final examination. It includes 30 multiple choice questions testing concepts like managerial accounting, cost accounting, budgeting, and variance analysis. To access the answers, users can copy and paste the provided link into their browser or email the listed address for inquiries.
The document provides a full ACC 400 final exam with 30 multiple choice questions covering topics like managerial accounting, cost accounting, budgeting, and variance analysis. It also provides the answers to download and check your work. To receive additional exam materials or have questions answered, contact the email provided.
1. The document provides sample exam questions for ACC 434 final exams. It includes 25 multiple choice questions covering topics like activity-based costing, budgeting, cost allocation, transfer pricing, quality costs, and inventory costs.
2. The questions assess understanding of cost accounting concepts like indirect cost rates, budgeted cash payments, sunk costs, cost functions, life-cycle budgeting, sensitivity analysis, and inventory carrying costs.
3. Answers to the exam questions can be found by visiting the website provided. The questions cover a range of cost accounting topics tested on the ACC 434 final exam.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, absorption costing, activity-based costing, budgeting, and decision making. The document encourages students to purchase the answers to the exam questions.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, absorption costing, variable costing, budgeting, standard costs, and decision making. The document provides a full solution key for studying for or cheating on the ACC 349 Final Exam.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, absorption costing, activity-based costing, budgeting, and decision making. The document encourages students to purchase the answers to the exam questions.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, activity-based costing, budgeting, standard costs, variable versus absorption costing, and decision making. The document provides a link to purchase the full exam answers without registration.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, activity-based costing, budgeting, standard costs, variable versus absorption costing, and decision making. The document provides a link to purchase the full exam answers without registration.
This document provides the questions and answers for the ACC 349 Final Exam from 2016 July. It includes 20 multiple choice questions covering topics like job order costing, activity-based costing, variable costing, and standard costs. Students can purchase the answers to the entire exam questions by clicking "Buy Answer" and completing the payment process on the provided website.
This document provides the questions and answers to the ACC 349 Final Exam from July 2016. It includes 50 multiple choice questions covering topics like job order costing, activity-based costing, budgeting, standard costs, variable versus absorption costing, and decision making. The document provides a link to purchase the full exam answers without registration.
This document appears to be a practice exam for an ACC 434 final exam. It contains 25 multiple choice questions covering a variety of accounting cost and management topics, including activity-based costing, budgeting, cost estimation methods, sunk costs, life-cycle budgeting, cost allocation, sensitivity analysis, quality costs, and inventory carrying costs. The questions require understanding of accounting concepts and calculations to determine the correct multiple choice answer.
ACC 251 Intro to Managerial AccountingChapters 9 through 12 .docxnettletondevon
ACC 251 Intro to Managerial Accounting
Chapters 9 through 12 Test
Due Monday, December 11, 2017
Name___________________________________
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the
question.
1) A major weakness of flexible budgets is that:
A) they ignore fixed costs.
B) they are valid for only a single level of activity.
C) they compare actual costs at one level of activity to budgeted costs at a different level of
activity.
D) none of these is a major weakness of flexible budgets.
2) Comparing actual results to a budget based on the actual activity for the period is possible with the
use of a:
A) master budget. B) monthly budget. C) rolling budget. D) flexible budget.
3) A static planning budget is:
A) used only for fixed costs.
B) used when the mix of products does not change.
C) a budget that ignores inflation.
D) a budget for a single level of activity.
Bobe Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and
performance reports. The cost formula for plane operating costs is $44,580 per month plus $2,390 per flight
plus $8 per passenger. The company expected its activity in May to be 68 flights and 211 passengers, but the
actual activity was 71 flights and 210 passengers. The actual cost for plane operating costs in May was
$215,140.
4) The plane operating costs in the planning budget for May would be closest to:
A) $206,050 B) $215,140 C) $215,950 D) $208,788
5) Hoppy Corporation compares monthly operating results to a static budget prepared at the beginning
of the month. When the actual level of activity is less than budgeted, which of the following would
be true?
A) Fixed costs would show unfavorable variances.
B) Variable costs would show favorable variances.
C) Variable costs would show unfavorable variances.
D) Fixed costs would show favorable variances.
1
6) Which of the following comparisons best isolates the impact that changes in operating efficiency
have on performance?
A) static planning budget and actual results B) master budget and static planning budget
C) static planning budget and flexible budget D) flexible budget and actual results
7) Paradiso Medical Clinic measures its activity in terms of patient-visits. Last month, the budgeted
level of activity was 1,060 patient-visits and the actual level of activity was 1,050 patient-visits.
The cost formula for administrative expenses is $3.00 per patient-visit plus $17,000 per month.
The actual administrative expense was $19,300. In the clinic's flexible budget performance report
for last month, the spending variance for administrative expenses was:
A) $220 U B) $850 F C) $30 F D) $880 F
Hairston Corporation manufactures and sells a single product. The company uses units as the measure of
activity in its budgets and performance reports. During November, the company budgeted for 7,700 units, but its
actual level of activity was 7,720 units. The company has provided .
1. The document provides a sample exam for ACC 434 with 25 multiple choice questions covering topics such as activity-based costing, budgeting, cost allocation, transfer pricing, quality costs, and inventory carrying costs.
2. Questions address calculating indirect cost allocation rates, budgeted cash payments, identifying sunk costs, allocating joint costs using the benefits-received criterion, and determining the effects of changes to quality prevention methods on appraisal costs.
3. Sample questions also cover quantitative cost estimation methods, the theory of constraints, life-cycle budgeting, sensitivity analysis, and estimating total setup costs for inventory production runs.
1. This document provides answers to an ACC/400 final exam with 30 multiple choice questions covering topics like managerial accounting, cost accounting, budgeting, and variance analysis. It also provides the exam questions for reference.
2. The document recommends contacting Homeworkeducator@gmail.com to purchase the answers or for original plagiarism-free work.
3. The questions and answers could be used to study for a similar final exam in an ACC/400 course, but purchasing or copying the answers directly would be considered academic dishonesty.
This document provides the answers to an ACC/400 final exam with 30 multiple choice questions covering topics like managerial accounting, cost accounting, budgeting, and variance analysis. It also provides brief explanations for some questions and lists accounting terminology introduced in the chapter. The document encourages purchasing the full exam answers or ordering original work from the provider to avoid plagiarism.
Lecturer: Xiaosong Zheng Sample exam paper
Course: Management Accounting Autumn 2013
Course code: TAK2830 Open book exam
Please answer all questions! Please clearly write down your name and student number on
the following line:
NAME: __________________________ STUDENT NUMBER: __________________
Part 1. Multiple choice questions (select one correct answer, 3 marks each, 60 marks total)
Please record answers to multiple choice questions in the following table:
Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10
Q11 Q12 Q13 Q14 Q15 Q16 Q17 Q18 Q19 Q20
1. Managerial accounting includes the planning function. Which of the following items
would be part of the planning function of a business's managerial accounting?
A) Comparing actual performance to previously budgeted amounts
B) Creating detailed budgets
C) Implementing operational plans
D) Evaluating results of operations
2. The journal entry to issue $500 of direct materials and $30 of indirect materials to
production includes which of the following?
A) Debit to Work in process for $500 and debit to Finished goods for $30
B) Debit to Manufacturing overhead for $530
C) Debit to Work in process for $500 and debit to Manufacturing overhead for $30
D) Debit to Work in process inventory for $530
3. Arabica Manufacturing Company uses a predetermined manufacturing overhead rate
based on a percentage of direct labor cost. At the beginning of 2012, they estimated total
manufacturing overhead costs at $1,050,000, and they estimated total direct labor costs at
$840,000. What was the predetermined manufacturing overhead rate?
A) 80% of direct labor cost
B) $1.25 per direct labor hour
C) 125% of direct labor cost
D) $35.00 per direct labor hour
4. LDR Manufacturing produces a pesticide chemical and uses process costing. There
are three processing departments-Mixing, Refining, and Packaging. On January 1, 2012,
the first department, Mixing, had a zero beginning balance. During January, 40,000 liters
of chemicals were started into production. During the month, 32,000 liters were
completed, and 8,000 remained in process, partially completed. In the Mixing
Department, all raw materials are added at the beginning of the production process, and
conversion costs are applied evenly through the process.
During January, the Mixing Department incurred $48,000 in direct materials costs and
$211,600 in conversion costs. At the end of the month, the ending inventory in the
Mixing Department was 60% complete with respect to conversion costs. First, calculate
the equivalent units, then calculate the cost per equivalent unit, and then calculate the
total cost of the product that was completed and transferred out during January.
The total cost of product transferred out was:
A) $211,600.
B) $48,00 ...
The document appears to be a practice exam for an accounting course (ACC 423) covering various topics related to accounting for debt, equity, earnings per share, investments, and other accounting issues. It contains 24 multiple choice questions testing understanding of accounting treatments for issues like convertible debt, preferred stock conversions, treasury stock, diluted earnings per share, stock dividends, investments, and more. The exam provides answers that can be downloaded separately.
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This document appears to be a practice exam for an ACC 421 final exam. It contains 28 multiple choice questions testing accounting concepts related to financial statements, revenue and expense recognition, and ratio analysis. The questions cover topics such as capitalizing costs, accrued expenses, adjusting entries, the roles of organizations like the FASB and SEC, and preparing and analyzing financial statements.
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This document contains a FIN 370 final exam with 41 multiple choice questions covering topics like corporate ownership, organizational costs of different business structures, goals of the firm, capital budgeting techniques like NPV, IRR, payback period, the cost of capital, and maintaining an optimal capital structure. The questions test understanding of key financial management concepts and calculations.
This document appears to be a study guide or answer key for a management ethics exam. It includes 40 multiple choice questions covering topics like ethical decision making frameworks, corporate social responsibility, discrimination law, and managing ethical situations. The questions are numbered 1-40 and include 4 possible answer choices labeled A-D for each question. No other context is provided.
This document provides the questions and answers for the MGT/216 Organizational Ethics & Social Responsibility final exam. It includes 50 multiple choice questions covering topics like ethical decision making, organizational culture, leadership ethics, and managing ethical issues in the workplace. The exam is assessing understanding of concepts related to ethics and social responsibility in organizations.
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This document appears to be a multiple choice quiz for a management course. It contains 42 multiple choice questions testing concepts related to management decision making, planning, ethics and organizational behavior. The questions cover topics such as programmed vs non-programmed decisions, the decision making process, contingency planning, organizational structure, conflict resolution, and business ethics.
1. ACC 349 Final Exam
PLEASE DOWNLOAD THE ANSWERS HERE
1) Why is factory overhead applied to products and jobs by manufacturing
companies?
A. It provides a more accurate cost of the job or products being processed.
B. It allows managers more timely determination of product costs during the
manufacturing process.
C. Because indirect costs are easy to trace to products and jobs.
D. Total actual overhead costs can never be accurately determined for
production.
2) Luca Company overapplied manufacturing overhead during 2006. Which one
of the following is part of the year end entry to dispose of the overapplied amount
assuming the amount is material?
A. An increase to cost of goods sold
B. A decrease to work in process inventory
C. A decrease to applied overhead
D. An increase to finished goods
3) What is the best way to handle manufacturing overhead costs in order to get
the most timely job cost information?
A. The company should determine an allocation rate as soon as the actual costs
are known, and then apply manufacturing overhead to jobs.
B. The company should add actual manufacturing overhead costs to jobs as
soon as the overhead costs are incurred.
C. The company should apply overhead using an estimated rate throughout the
year.
D. The company should account for only the direct production costs.
4) Which of the following would be accounted for using a job order cost system?
A. The production of cans of spinach
B. The production of textbooks
2. C. The production of town homes
D. The pasteurization of milk
5) Which of the following represents the two basic types of cost accounting
systems?
A. Process cost and batch systems
B. Job order and batch systems
C. Job order and job accumulation systems
D. Job order and process cost systems
6) Which one of the following is an important feature of a job order cost system?
A. Each job has characteristics similar to the next.
B. Each job uses similar processes to produce.
C. Each consists of features which distinguish it from the next.
D. Each must be completed before a new product order is accepted.
7) Which of the following is an element of manufacturing overhead?
A. Flour used in manufactured cake mixes
B. Plant manager’s salary
C. Components used in calculators during production
D. Factory workers wages
8) Which one of the following costs would be included in manufacturing overhead
of a lawn mower manufacturer?
A. The wages earned by motor assemblers
B. Depreciation on the testing equipment
C. The cost of the fuel lines that run from the motor to the gas tank
D. The cost of the wheels
9) Managerial accounting
A. places emphasis on special-purpose information
3. B. pertains to the entity as a whole and is highly aggregated
C. is governed by generally accepted accounting principles
D. is concerned with costing products
10) Which would be an appropriate cost driver for the ordering and receiving
activity cost pool?
A. Inspections
B. Machine hours
C. Purchase orders
D. Machine setups
11) A well-designed activity-based costing system starts with
A. analyzing the activities performed to manufacture a product
B. assigning manufacturing overhead costs for each activity cost pool to products
C. computing the activity-based overhead rate
D. identifying the activity-cost pools
12) The first step in activity-based costing is to
A. identify the cost driver that has a strong correlation to the activity cost pool
B. identify and classify the major activities involved in the manufacture of specific
products
C. compute the activity-based overhead rate per cost driver
D. assign manufacturing overhead costs for each activity cost pool to product
13) Which of the following is a nonvalue-added activity?
A. Packaging
B. Inspection
C. Machining
D. Engineering design
14) Which of the following is a value-added activity?
4. A. Inspections
B. Engineering design
C. Inventory storage
D. Machinery repair
15) What sometimes makes implementation of activity-based costing difficult in
service industries is
A. attempting to reduce or eliminate nonvalue-added activities
B. the labeling of activities as value-added
C. that a larger proportion of overhead costs are company-wide costs
D. identifying activities, activity cost plus, and cost drivers
16) Poodle Company manufactures two products, Mini A and Maxi B. Poodle's
overhead costs consist of setting up machines, $800,000; machining, $1,800,000;
and inspecting, $600,000. Information on the two products is:
Mini A Maxi B
Direct labor hours 15,000 25,000
Machine setups 600 400
Machine hours 24,000 26,000
Inspections 800 700
Overhead applied to Mini A using activity-based costing is
A. $1,920,000
B. $1,200,000
C. $1,664,000
D. $1,536,000
17) Poodle Company manufactures two products, Mini A and Maxi B. Poodle's
overhead costs consist of setting up machines, $800,000; machining, $1,800,000;
and inspecting, $600,000. Information on the two products is:
Mini A Maxi B
5. Direct labor hours 15,000 25,000
Machine setups 600 400
Machine hours 24,000 26,000
Inspections 800 700
Overhead applied to Mini A using traditional costing using direct labor hours is
A. $1,920,000
B. $1,200,000
C. $1,670,000
D. $1,536,000
18) Poodle Company manufactures two products, Mini A and Maxi B. Poodle's
overhead costs consist of setting up machines, $800,000; machining, $1,800,000;
and inspecting, $600,000. Information on the two products is:
Mini A Maxi B
Direct labor hours 15,000 25,000
Machine setups 600 400
Machine hours 24,000 26,000
Inspections 800 700
Overhead applied to Maxi B using activity-based costing is
A. $2,000,000
B. $1,280,000
C. $1,664,000
D. $1,536,000
19) The cost to produce Part A was $10 per unit in 2005. During 2006, it has
increased to $11 per unit. In 2006, Supplier Company has offered to supply Part
A for $9 per unit. For the make-or-buy decision,
A. differential costs are $2 per unit
B. incremental revenues are $2 per unit
6. C. net relevant costs are $1 per unit
D. incremental costs are $1 per unit
20) Walton, Inc. is unsure of whether to sell its product assembled or
unassembled. The unit cost of the unassembled product is $16, while the cost of
assembling each unit is estimated at $17. Unassembled units can be sold for $55,
while assembled units could be sold for $71 per unit. What decision should
Walton make?
A. Process further; the company will save $16 per unit.
B. Sell before assembly; the company will save $1 per unit.
C. Process further; the company will save $1 per unit.
D. Sell before assembly; the company will save $15 per unit.
21) Max Company uses 10,000 units of Part A in producing its products. A
supplier offers to make Part A for $7. Max Company has relevant costs of $8 a
unit to manufacture Part A. If there is excess capacity, the opportunity cost of
buying Part A from the supplier is
A. $80,000
B. $0
C. $70,000
D. $10,000
22) Disney’s variable costs are 30% of sales. The company is contemplating an
advertising campaign that will cost $22,000. If sales are expected to increase
$40,000, by how much will the company's net income increase?
A. $6,000
B. $18,000
C. $12,000
D. $28,000
23) Hartley, Inc. has one product with a selling price per unit of $200, the unit
variable cost is $75, and the total monthly fixed costs are $300,000. How much is
Hartley’s contribution margin ratio?
A. 266.6%
7. B. 62.5%.
C. 150%.
D. 37.5%
24) Hess, Inc. sells a single product with a contribution margin of $12 per unit and
fixed costs of $74,400 and sales for the current year of $100,000. How much is
Hess’s break-even point?
A. 2,133 units
B. 4,600 units
C. 6,200 units
D. $25,600
25) Orbach Company sells its product for $40 per unit. During 2005, it produced
60,000 units and sold 50,000 units (there was no beginning inventory). Costs per
unit are: direct materials $10, direct labor $6, and variable overhead $2. Fixed
costs are: $480,000 manufacturing overhead, and $60,000 selling and
administrative expenses. The per unit manufacturing cost under absorption
costing is
A. $27
B. $16
C. $26
D. $18
26) Which cost is NOT charged to the product under absorption costing?
A. Fixed administrative expenses
B. Direct materials
C. Variable manufacturing overhead
D. Direct labor
27) Orbach Company sells its product for $40 per unit. During 2005, it produced
60,000 units and sold 50,000 units (there was no beginning inventory). Costs per
unit are: direct materials $10, direct labor $6, and variable overhead $2. Fixed
costs are: $480,000 manufacturing overhead, and $60,000 selling and
8. administrative expenses. The per unit manufacturing cost under variable costing
is
A. $16
B. $26
C. $27
D. $18
28) Which of the following statements is FALSE?
A. A standard cost is more accurate than a budgeted cost.
B. In concept, standards and budgets are essentially the same.
C. The standard cost of a product is equivalent to the budgeted cost per unit of
product.
D. A standard is a unit amount.
29) The difference between a budget and a standard is that
A. a budget expresses what costs were, while a standard expresses what costs
should be
B. a budget expresses a total amount while a standard expresses a unit amount
C. standards are excluded from the cost accounting system, whereas budgets
are generally incorporated into the cost accounting system
D. a budget expresses management's plans, while a standard reflects what
actually happened
30) A standard cost is
A. a cost which is paid for a group of similar products
B. a predetermined cost
C. the historical cost of producing a product last year
D. the average cost in an industry
31) A company developed the following per-unit standards for its product: 2
pounds of direct materials at $6 per pound. Last month, 2,000 pounds of direct
9. materials were purchased for $11,400. The direct materials price variance for last
month was
A. $11,400 favorable
B. $300 favorable
C. $600 unfavorable
D. $600 favorable
32) The per-unit standards for direct labor are 2 direct labor hours at $12 per
hour. If in producing 2,400 units, the actual direct labor cost was $51,200 for
4,000 direct labor hours worked, the total direct labor variance is
A. $1,920 unfavorable
B. $4,000 unfavorable
C. $6,400 unfavorable
D. $6,400 favorable
33) The standard rate of pay is $5 per direct labor hour. If the actual direct labor
payroll was $19,600 for 4,000 direct labor hours worked, the direct labor price
(rate) variance is
A. $400 unfavorable
B. $500 unfavorable
C. $500 favorable
D. $400 favorable
34) Manufacturing overhead costs are applied to work in process on the basis of
A. actual hours worked
B. ratio of actual variable to fixed costs
C. actual overhead costs incurred
D. standard hours allowed
35) If the standard hours allowed are less than the standard hours at normal
capacity, the volume variance
10. A. cannot be calculated
B. will be unfavorable
C. will be greater than the controllable variance
D. will be favorable
36) If the standard hours allowed are less than the standard hours at normal
capacity,
A. the overhead volume variance will be unfavorable
B. the overhead controllable variance will be favorable
C. variable overhead costs will be overapplied
D. variable overhead costs will be underapplied
37) Lewis Hats is planning to sell 600 straw hats. Each hat requires a half pound
of straw and a quarter hour of direct labor. Straw costs $0.20 per pound and
employees of the company are paid $22 per hour. Lewis has 80 pounds of straw
and 40 hats in beginning inventory and wants to have 50 pounds of straw and 60
hats in ending inventory. How many units should Lewis Hats produce in April?
A. 600
B. 580
C. 630
D. 620
38) At January 1, 2004, Barry, Inc. has beginning inventory of 4,000 widgets.
Barry estimates it will sell 35,000 units during the first quarter of 2004 with a 10%
increase in sales each quarter. Barry’s policy is to maintain an ending inventory
equal to 25% of the next quarter’s sales. Each widget costs $1 and is sold for
$1.50. How much is budgeted sales revenue for the third quarter of 2004?
A. $57,525
B. $42,350
C. $63,000
D. $63,525
11. 39) Gottberg Mugs is planning to sell 2,000 mugs and produce 2,200 mugs during
April. Each mug requires 2 pounds of resin and a half hour of direct labor. Resin
costs $1 per pound and employees of the company are paid $12.50 per hour.
Manufacturing overhead is applied at a rate of 120% of direct labor costs.
Gottberg has 2,000 pounds of resin in beginning inventory and wants to have
2,400 pounds in ending inventory. How much is the total amount of budgeted
direct labor for April?
A. $12,500
B. $27,500
C. $13,750
D. $25,000
40) A company must price its product to cover its costs and earn a reasonable
profit in
A. all cases
B. the short run
C. its early years
D. the long run
41) The cost-plus pricing approach's major advantage is
A. it considers customer demand
B. it can be used to determine a product’s target cost
C. that sales volume has no effect on per unit costs
D. it is simple to compute
42) Prices are set by the competitive market when
A. the product is specially made for a customer
B. a product is not easily distinguished from competing products
C. there are no other producers capable of manufacturing a similar item
D. a company can effectively differentiate its product from others
ACC 349 Final Exam