This document contains information about an accounting exam including:
- The exam contains multiple choice, short answer, and essay questions.
- Sample exam questions are provided covering topics like cost accounting, budgeting, and investment analysis.
- Detailed data is given for sample questions involving cost of goods manufactured schedules, absorption vs variable costing income statements, and make-or-buy analyses.
This document discusses an accounting exam for ACCT 505 that contains multiple choice, short answer, and essay questions. It provides a link to purchase the exam materials and notes that the exam taker scored 248/250 points.
The document contains a practice exam for an accounting course with multiple choice and essay questions covering various topics such as cost accounting, budgeting, and investment analysis. Specifically:
- The exam contains 3 sets of questions, with each set containing between 5-7 questions. Questions assess topics like cost-volume-profit analysis, process costing, absorption vs variable costing, budgeting, and make-or-buy decisions.
- Sample questions calculate break-even points, predetermined overhead rates, income statements, cash budgets, and net present value of investment opportunities.
- Answers are provided for some questions, including calculations and brief explanations of results. Other questions only list the requirements and provide no solutions.
For more course tutorials visit
www.newtonhelp.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
This document contains information about an accounting exam including:
- The exam contains multiple choice, short answer, and essay questions.
- Sample exam questions are provided covering topics like cost accounting, budgeting, and investment analysis.
- Detailed data is given for sample questions involving cost of goods manufactured schedules, absorption vs variable costing income statements, and make-or-buy analyses.
This document discusses an accounting exam for ACCT 505 that contains multiple choice, short answer, and essay questions. It provides a link to purchase the exam materials and notes that the exam taker scored 248/250 points.
The document contains a practice exam for an accounting course with multiple choice and essay questions covering various topics such as cost accounting, budgeting, and investment analysis. Specifically:
- The exam contains 3 sets of questions, with each set containing between 5-7 questions. Questions assess topics like cost-volume-profit analysis, process costing, absorption vs variable costing, budgeting, and make-or-buy decisions.
- Sample questions calculate break-even points, predetermined overhead rates, income statements, cash budgets, and net present value of investment opportunities.
- Answers are provided for some questions, including calculations and brief explanations of results. Other questions only list the requirements and provide no solutions.
For more course tutorials visit
www.newtonhelp.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
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
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
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
ACCT 505 Week 2 Quiz Set 2
ACCT 505 Week 3 Case Study II
ACCT 505 Week 4 Midterm Exam
ACCT 505 OUTLET Become Exceptional--acct505outlet.comkopiko122
This document provides materials for the ACCT 505 course, including discussion questions, exams, quizzes, case studies and projects for each week of the course. It also includes three sets of practice final exams for the ACCT 505 course at Devry University. The materials are intended to help students prepare for and complete all assessments for the ACCT 505 course from week 1 through the final exam.
ACCT 505 OUTLET Education for Service--acct505outlet.comkopiko58
FOR MORE CLASSES VISIT
www.acct505outlet.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
ACCT 505 Week 2 Quiz Set 2
For more course tutorials visit
www.acct505.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
ACCT 505 Week 2 Quiz Set 2
For more course tutorials visit
www.acct505.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
ACCT 505 Week 2 Quiz Set 2
This document contains materials for the ACCT 505 entire course, including weekly discussion questions, case studies, quizzes, exams, and course projects. It also includes three sets of the final exam for the course.
This document contains materials for the ACCT 505 entire course, including weekly discussion questions, case studies, quizzes, exams, and course projects. It also includes three sets of the final exam for the course.
This document provides information and materials for an ACCT 505 accounting course, including discussion questions, exams, quizzes, case studies and course projects for each week of the course. It also includes three sets of practice questions for the final exam.
ACCT 505 HELP Education for Service--acct505help.comabhila171
This document contains information for an ACCT 505 entire course, including weekly discussion questions, case studies, quizzes, exams, and course projects. It also includes three sets of practice questions for the ACCT 505 final exam, covering topics such as cost accounting, budgeting, decision making, and investment analysis. Sample questions calculate break-even points, prepare income statements using different costing methods, perform make-or-buy analyses, and calculate financial metrics like ROI and NPV. The document provides materials to help study for the ACCT 505 final exam.
FOR MORE CLASSES VISIT
www.acct505outlet.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
ACCT 505 Week 2 Quiz Set 2
ACCT 505 Week 3 Case Study II
ACCT 505 Week 4 Midterm Exam
ACCT 505 Week 5 Course Project 1 LBJ Company (New)
This document provides information and questions for the ACCT 505 Entire Course. It includes tutorials, discussion questions, exams, quizzes, case studies and course projects covering topics like job order and process costing systems, measuring performance, segment reporting, relevant costs, capital budgeting, and absorption costing. The document also provides 3 sets of final exam questions testing understanding of topics like cost of goods manufactured, break-even analysis, flexible budgeting, and make-or-buy analysis.
For more course tutorials visit
www.acct505.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
ACCT 505 Week 2 Quiz Set 2
This document contains information and questions for the ACCT 505 Entire Course. It includes discussion questions, exams, quizzes, case studies and course projects for each week of the course. It also provides 3 sets of final exam questions, sample exams, and tutorials for external review.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
-------------------------------------------------------------------------------
Find out more about ISO training and certification services
Training: ISO/IEC 27001 Information Security Management System - EN | PECB
ISO/IEC 42001 Artificial Intelligence Management System - EN | PECB
General Data Protection Regulation (GDPR) - Training Courses - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
-------------------------------------------------------------------------------
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How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
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
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
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
ACCT 505 Week 2 Quiz Set 2
ACCT 505 Week 3 Case Study II
ACCT 505 Week 4 Midterm Exam
ACCT 505 OUTLET Become Exceptional--acct505outlet.comkopiko122
This document provides materials for the ACCT 505 course, including discussion questions, exams, quizzes, case studies and projects for each week of the course. It also includes three sets of practice final exams for the ACCT 505 course at Devry University. The materials are intended to help students prepare for and complete all assessments for the ACCT 505 course from week 1 through the final exam.
ACCT 505 OUTLET Education for Service--acct505outlet.comkopiko58
FOR MORE CLASSES VISIT
www.acct505outlet.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
ACCT 505 Week 2 Quiz Set 2
For more course tutorials visit
www.acct505.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
ACCT 505 Week 2 Quiz Set 2
For more course tutorials visit
www.acct505.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
ACCT 505 Week 2 Quiz Set 2
This document contains materials for the ACCT 505 entire course, including weekly discussion questions, case studies, quizzes, exams, and course projects. It also includes three sets of the final exam for the course.
This document contains materials for the ACCT 505 entire course, including weekly discussion questions, case studies, quizzes, exams, and course projects. It also includes three sets of the final exam for the course.
This document provides information and materials for an ACCT 505 accounting course, including discussion questions, exams, quizzes, case studies and course projects for each week of the course. It also includes three sets of practice questions for the final exam.
ACCT 505 HELP Education for Service--acct505help.comabhila171
This document contains information for an ACCT 505 entire course, including weekly discussion questions, case studies, quizzes, exams, and course projects. It also includes three sets of practice questions for the ACCT 505 final exam, covering topics such as cost accounting, budgeting, decision making, and investment analysis. Sample questions calculate break-even points, prepare income statements using different costing methods, perform make-or-buy analyses, and calculate financial metrics like ROI and NPV. The document provides materials to help study for the ACCT 505 final exam.
FOR MORE CLASSES VISIT
www.acct505outlet.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
ACCT 505 Week 2 Quiz Set 2
ACCT 505 Week 3 Case Study II
ACCT 505 Week 4 Midterm Exam
ACCT 505 Week 5 Course Project 1 LBJ Company (New)
This document provides information and questions for the ACCT 505 Entire Course. It includes tutorials, discussion questions, exams, quizzes, case studies and course projects covering topics like job order and process costing systems, measuring performance, segment reporting, relevant costs, capital budgeting, and absorption costing. The document also provides 3 sets of final exam questions testing understanding of topics like cost of goods manufactured, break-even analysis, flexible budgeting, and make-or-buy analysis.
For more course tutorials visit
www.acct505.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
ACCT 505 Week 2 Quiz Set 2
This document contains information and questions for the ACCT 505 Entire Course. It includes discussion questions, exams, quizzes, case studies and course projects for each week of the course. It also provides 3 sets of final exam questions, sample exams, and tutorials for external review.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
-------------------------------------------------------------------------------
Find out more about ISO training and certification services
Training: ISO/IEC 27001 Information Security Management System - EN | PECB
ISO/IEC 42001 Artificial Intelligence Management System - EN | PECB
General Data Protection Regulation (GDPR) - Training Courses - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
-------------------------------------------------------------------------------
For more information about PECB:
Website: https://pecb.com/
LinkedIn: https://www.linkedin.com/company/pecb/
Facebook: https://www.facebook.com/PECBInternational/
Slideshare: http://www.slideshare.net/PECBCERTIFICATION
How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
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Acct 505 final exam (new) all 3 set
1. ACCT 505 Final Exam (New) All 3 Set
For more classes visit
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Score 248/250
Multiple Choice 2
Short 2
Essay 7
Question 1 : (TCO E) Designing a new product is a(n)
2. Question : (TCO G) Given the following data, what would ROI be?
Sales $70,000
Net operating income $10,000
Contribution margin $20,000
Average operating assets $50,000
Stockholder's equity $25,000
1. Question : (TCO C) Longiotti Corporation produces and sells a single product.
Data
2. concerning that product appear below.
Selling price per unit $375.00
Variable expense per unit $144.00
Fixed expense per month $1,686,300
Required:
Determine the monthly breakeven in units or dollar sales. Show your work!
2. Question : (TCO B) Maverick Corporation uses the weighted-average method in its
process costing system. Data concerning the first processing department for
the most recent month are listed below.
Work in process, beginning:
Units in beginning work in process inventory 400
Materials costs $6,900
Conversion costs $2,500
Percent complete for materials 80%
Percent complete for conversion 15%
Units started into production during the month 6,000
Units transferred to the next department during the month 5,600
Materials costs added during the month $112,500
Conversion costs added during the month $210,300
1. Question : (TCO D) Topple Company produces a single product. Operating data
for the
company and its absorption costing income statement for the last year are
presented below.
3. Units in beginning inventory 2,000
Units produced 9,000
Units sold 10,000
Sales $100,000
Less cost of goods sold:
Beginning inventory 12,000
Add cost of goods manufactured 54,000
Goods available for sale 66,000
Less ending inventory 6,000
Cost of goods sold 60,000
Gross margin 40,000
Less selling and admin. expenses 28,000
Net operating income $12,000
2. Question : (TCO I) (Ignore income taxes in this problem.) Bill Anders retires in 8
years.
He has $650,000 to invest and is considering a franchise for a fast-food
outlet. He would have to purchase equipment costing $500,000 to equip the
outlet and invest an additional $150,000 for inventories and other working
capital needs. Other outlets in the fast-food chain have an annual net cash
inflow of about $160,000. Mr. Anders would close the outlet in 8 years. He
estimates that the equipment could be sold at that time for about 10% of its
original cost. Mr. Anders' required rate of return is 16%.
4. Required:
Part A: What is the investment's net present value when the discount rate is
16%?
Part B: Refer to your calculations. Is this an acceptable investment? Why or
why not?
3. Question : (TCO A) The following data (in thousands of dollars) have been taken
from the accounting records of the Maroon Corporation for the just-completed
year.
Sales 1,300
Raw materials inventory, beginning 25
Raw materials inventory, ending 30
Purchases of raw materials 250
Direct labor 350
Manufacturing overhead 500
Administrative expenses 300
Selling expenses 250
Work in process inventory, beginning 150
Work in process inventory, ending 100
Finished goods inventory, beginning 80
Finished goods inventory, ending 110
Use the above data to prepare (in thousands of dollars) a schedule of Cost
of Goods Manufactured and a Schedule of Cost of Goods Sold for the year.
5. In addition, what is the impact on the financial statements if the ending
finished goods inventory is overstated or understated?
4. Question : (TCO F) Walker Corporation is preparing its cash budget for
November. The
budgeted beginning cash balance is $43,000. Budgeted cash receipts total $117,000
and budgeted cash disbursements total $122,000. The desired
ending cash balance is $55,000. The company can borrow up to $100,000 at
any time from a local bank, with interest not due until the following month.
Required:
Prepare the company's cash budget for November in good form. Make sure
to indicate what borrowing, if any, would be needed to attain the desired
ending cash balance
5. Question : (TCO F) Bella Lugosi Holdings, Inc. (BLH), has collected the following
operating information for its current month's activity. Using this information,
prepare a flexible budget analysis to determine how well BLH performed in
terms of cost control.
Static Budget
Activity level (in units) 5,250 5,178
Variable costs:
Indirect materials $24,182 $23,476
Utilities $22,356 $22,674
6. Fixed costs:
Administration $63,450 $65,500
Rent $65,317 $63,904
6. Question : (TCO H) Lindon Company uses 7,500 units of Part Y each year as a
component in the assembly of one of its products. The company is presently
producing Part Y internally at a total cost of $119,000 as follows.
Direct
materials
$26,000
Direct labor 28,000
Variable
manufacturing
overhead
20,000
Fixed
manufacturing
overhead
45,000
Total costs $119,000
An outside supplier has offered to provide Part Y at a price of $12 per unit. If
Lindon stops producing the part internally, one third of the fixed
manufacturing overhead would be eliminated.
Required: Prepare a make-or-buy analysis showing the annual advantage or
disadvantage of accepting the outside supplier's offer. Please state clearly
7. whether the part should be made or bought and share your work.
7. Question : (TCO B) Sandler Corporation bases its predetermined overhead rate on
the
estimated machine hours for the upcoming year. Data for the upcoming year
appear below.
Estimated machine hours 75,000
Estimated variable manufacturing
overhead $4.50 per machine hour
Estimated total fixed manufacturing
overhead $825,000
The actual machine hours for the year turned out to be 77,000.
Required:
Compute the company's predetermined overhead rate.
Set 2
1. (TCO C) Madlem, Inc., produces and sells a single product whose selling price is
$120.00 per unit and whose variable expense is $46.20 per unit. The company's fixed
expense is $405,900 per month.
Required: Determine the monthly breakeven in either unit or total dollar sales. Show
your work! (Points : 25)
8. Question 2.2. (TCO B) Industrial Supply Corporation uses the weighted-average
method in its process costing system. Data concerning the first processing department
for the most recent month are listed below.
Work in process, beginning:
Units in beginning work in process inventory 400
Materials costs $6,900
Conversion costs $2,500
Percent complete for materials 80%
Percent complete for conversion 15%
Units started into production during the month 6,000
Units transferred to the next department during the month 5,200
Materials costs added during the month $112,500
Conversion costs added during the month $210,300
Ending work in process:
Units in ending work-in-process inventory 1,200
Percentage complete for materials 75%
Percentage complete for conversion 30%
Required: Calculate the equivalent units for conversion for the month in the first
processing department. (Points : 25)
9. Question 1.1. (TCO D) The following absorption costing income statement and
additional data are available from the accounting records of Bernon Co. for the
month ended May 31, XXXX. During the accounting period, 17,000 units were
manufactured and sold at a price of $60 per unit. There were no beginning
inventories.
Bernon Co.
Absorption Costing Income Statement
for the Month Ended May 31, XXXX
Sales (17,000 @ $60) $1,020,000
Cost of goods sold 612,000
Gross profit $ 408,000
Selling and administrative expenses 66,000
Income from operations $ 342,000
Additional Information:
Cost Total Cost Number of Units Unit Cost
Manufacturing costs:
Variable $442,000 17,000 $26
Fixed 170,000 17,000 10
Total $612,000 $36
10. Selling and administrative expenses:
Variable ($2 per unit sold) $34,000
Fixed 32,000
Total $66,000
Required: Prepare a new income statement for the year using variable costing.
Comment on the differences, if any, between the absorption costing and the variable
costing income statements. (Points : 30)
Question 2.2. (TCO I) (Ignore income taxes in this problem.) Simpson Beauty
Products Corporation is considering the production of a new conditioning shampoo
that will require the purchase of new mixing machinery. The machinery will cost
$700,000, is expected to have a useful life of 10 years, and is expected to have a
salvage value of $70,000 at the end of 10 years. The machinery will also need a
$45,000 overhaul at the end of Year 5. A $60,000 increase in working capital will be
needed for this investment project. The working capital will be released at the end of
the 10 years. The new shampoo is expected to generate net cash inflows of $150,000
per year for each of the 10 years. Simpson's discount rate is 18%.
Items Year(s) Amount 18% Factor Present Value
Cost of machinery Now ($700,000) 1 ($700,000)
Working capital increase Now ($60,000) 1 ($60,000)
Annual cash inflows 1–10 $150,000 4.494 674,100
Overhaul 5 ($45,000) 0.437 ($19,665)
Salvage value 10 $70,000 0.191 13,370
Working capital release 10 $60,000 0.191 11,460
Net present value ($80,735)
11. Required:
(a) What is the net present value of this investment opportunity?
(b) Based on your answer to (a) above, should Simpson go ahead with the new
conditioning shampoo? (Points : 30)
Question 3.3. (TCO A) The following data (in thousands of dollars) have been taken
from the accounting records of the Maroon Corporation for the just-completed year.
Sales 1,700
Raw materials inventory, beginning 50
Raw materials inventory, ending 25
Purchases of raw materials 210
Direct labor 360
Manufacturing overhead 330
Administrative expenses 400
Selling expenses 200
Work-in-process inventory, beginning 120
Work-in-process inventory, ending 150
Finished goods inventory, beginning 80
Finished goods inventory, ending 120
Use the above data to prepare (in thousands of dollars) a schedule of Cost of Goods
Manufactured and a Schedule of Cost of Goods Sold for the year. In addition, what is
12. the impact on the financial statements if the ending finished goods inventory is
overstated or understated? (Points : 25)
Question 4.4. (TCO F) Walker Corporation is preparing its cash budget for
November. The budgeted beginning cash balance is $43,000. Budgeted cash receipts
total $117,000 and budgeted cash disbursements total $122,000. The desired ending
cash balance is $55,000. The company can borrow up to $100,000 at any time from a
local bank, with interest not due until the following month.
Required:
Prepare the company's cash budget for November in good form. Make sure to indicate
what borrowing, if any, would be needed to attain the desired ending cash
balance(Points : 25)
Question 5.5. (TCO F) The following overhead data are for a department of a large
company.
Actual Costs Incurred Static Budget
Activity level (in units) 360 340
Variable costs:
Indirect materials $4,182 $4,148
Electricity $2,536 $2,414
Fixed costs:
13. Administration $6,540 $6,500
Rent $6,310 $6,400
Required: Construct a flexible budget performance report that would be useful in
assessing how well costs were controlled in this department. (Points : 25)
Question 6.6. (TCO H) McMullen Co. uses 10,000 units of Part X each year as a
component in the assembly of one of its products. The company is presently producing
Part X internally at a total cost of $125,000 as follows.
Direct materials $40,000
Direct labor 30,000
Variable manufacturing overhead 25,000
Fixed manufacturing overhead 30,000
Total costs $125,000
An outside supplier has offered to provide Part X at a price of $10 per unit. If
McMullen stops producing the part internally, one third of the fixed manufacturing
overhead would be eliminated.
Required: Prepare a make-or-buy analysis showing the annual advantage or
disadvantage of accepting the outside supplier's offer. Please state clearly whether the
part should be made or bought and share your work. (Points : 30)
14. Question 7.7. (TCO B) Buckhorn Corporation bases its predetermined overhead rate
on the estimated machine hours for the upcoming year. Data for the upcoming year
appear below.
Estimated machine hours 37,000
Estimated variable manufacturing overhead $7.77 per machine hour
Estimated total fixed manufacturing overhead $888,000
The actual machine hours for the year turned out to be 35,000.
Required: Compute the company's predetermined overhead rate. (Points : 25)
Set 3
(TCO E) Preparing purchase orders is a(n) (Points : 5)
batch-level activity.
product-level activity.
unit-level activity.
organization sustaining activity.
2. (TCO G) Given the following data, what would ROI be?
15. Sales $70,000
Net operating income $10,000
Contribution margin $20,000
Average operating assets $50,000
Stockholder's equity $25,000
(Points : 5)
28.6%
20.0%
40.0%
50.0%
3. (TCO C) Heckaman Corporation produces and sells a single product. Data
concerning that product appear below.
Selling price per unit $115.00
Variable expense per unit $56.35
Fixed expense per month $299,115
4. TCO B) Industrial Supply Corporation uses the weighted-average method in its
process costing system. Data concerning the first processing department for the most
recent month are listed below.
Work in process, beginning:
Units in beginning work in process inventory 400
Materials costs $6,900
Conversion costs $2,500
16. Percent complete for materials 80%
Percent complete for conversion 15%
5. (TCO D) Topple Company produces a single product. Operating data for the
company and its absorption costing income statement for the last year are presented
below.
Units in beginning inventory 0
Units produced 9,000
Units sold 7,000
Sales $100,000
Variable manufacturing costs are $4 per unit. Fixed manufacturing overhead totals
$18,000 for the year. The fixed manufacturing overhead was applied at a rate of $2
per unit. Variable selling and administrative expenses were $1 per unit sold.
Required: Prepare a new income statement for the year using variable costing.
Comment on the differences between the absorption costing and the variable costing
income statements. (Points : 30)
6. (TCO I) (Ignore income taxes in this problem.) Simpson Beauty Products
Corporation is considering the production of a new conditioning shampoo that will
require the purchase of new mixing machinery. The machinery will cost $700,000, is
Required:
17. Part A: What is the net present value of this investment opportunity?
Part B: Based on your answer to (a) above, should Simpson go ahead with the new
conditioning shampoo? (Points : 30)
PART B:
Simpson should not go ahead and purchase the shampoo machine since the NPV is
negative.
7. (TCO A) The following data (in thousands of dollars) have been taken from the
accounting records of Karmana Corporation for the just-completed year.
8. (TCO F) Matuseski Corporation is preparing its cash budget for October. The
budgeted beginning cash balance is $54,000. Budgeted cash receipts total $127,000
and budgeted cash disbursements total $99,000. The desired ending cash balance is
$100,000. The company can borrow up to $150,000 at any time from a local bank,
with interest not due until the following month.
Required: Prepare the company's cash budget for October in good form. Make sure to
indicate what borrowing, if any, would be needed to attain the desired ending cash
balance. (Points : 25)
9. (TCO F) Bella Lugosi Holdings, Inc. (BLH), has collected the following operating
information for its current month's activity. Using this information, prepare a flexible
budget analysis to determine how well BLH performed in terms of cost control.
Actual Costs Incurred Static Budget
Activity level (in units) 5,250 5,178
18. Variable costs:
Indirect materials $24,182 $23,476
Utilities $22,356 $22,674
Fixed costs:
Administration $63,450 $65,500
Rent $65,317 $63,904
(Points : 25)
10. (TCO H) Lindon Company uses 10,000 units of Part Y each year as a component
in the assembly of one of its products. The company is presently producing Part Y
internally at a total cost of $100,000 as follows.
Direct materials............................................... $20,000
Direct labor...................................................... 40,000
Variable manufacturing overhead...................... 16,000
Fixed manufacturing overhead.......................
24,000
Total costs.......................................................100,000
An outside supplier has offered to provide Part Y at a price of $10 per unit. If Lindon
stops producing the part internally, one third of the fixed manufacturing overhead
would be eliminated.
11. (TCO B) Wahr Corporation bases its predetermined overhead rate on the
estimated labor hours for the upcoming year. At the beginning of the most recently
19. completed year, the company estimated the labor hours for the upcoming year at
35,000. The estimated variable manufacturing overhead was $7.25 per labor hour
and the estimated total fixed manufacturing overhead was $585,000. The actual labor
hours for the year turned out to be 33,000.