Acc 349 final exam

1. To get this material Click this link
https://bitly.com/12B5PJV
In this work ACC 349 Final Exam you will find right answers
on the following questions:
1) What is the best way to handle manufacturing overhead
costs in order to get the most timely job cost information?
2) At the end of the year, manufacturing overhead has been
overapplied. What occurred to create this situation?
3) 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
4) Which of the following would be accounted for using a job
order cost system?
5) Which one of the following is NEVER part of recording the
issuance of raw materials in a job order cost system?
6. What is unique about the flow of costs in a job order cost
system?
7) Which one of the following costs would be included in
manufacturing overhead of a lawn mower manufacturer?
8) What broad functions do the management of an
organization perform?
9) Which of the following represents the correct order in
which inventories are reported on a manufacturer
Business - Accounting
1) What is the best way to handle manufacturing overhead
costs in order to get the most timely job cost information? 2)

2. At the end of the year, manufacturing overhead has been
overapplied. What occurred to create this situation? 3) 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 4) Which of the following would be accounted for
using a job order cost system? 5) Which one of the following
is NEVER part of recording the issuance of raw materials in a
job order cost system? Finished Goods Inventory is debited
when goods are transferred from work in process to finished
goods, not when raw materials are issued for a job. 6. What
is unique about the flow of costs in a job order cost system?
7) Which one of the following costs would be included in
manufacturing overhead of a lawn mower manufacturer?
Depreciation on testing equipment would be included in
manufacturing overhead because it is indirectly associated
with the finished product. 8) What broad functions do the
management of an organization perform? 9) Which of the
following represents the correct order in which inventories
are reported on a manufacturer’s balance sheet? 10) In
traditional costing systems, overhead is generally applied
based on 11) An activity that has a direct cause-effect
relationship with the resources consumed is a(n) 12) A well-designed
activity-based costing system starts with 13) Which
of the following factors would suggest a switch to activity-based
costing? 14) All of the following statements are correct
EXCEPT that 15) What sometimes makes implementation of
activity-based costing difficult in service industries is 16) One
of Astro Company's activity cost pools is machine setups,
with estimated overhead of $150,000. Astro produces
sparklers (400 setups) and lighters (600 setups). How much of

3. the machine setup cost pool should be assigned to sparklers?
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 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
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
19) Seran Company has contacted Truckel Inc. with an offer
to sell it 5,000 of the wickets for $18 each. If Truckel makes
the wickets, variable costs are $11 per unit. Fixed costs are
$12 per unit; however, $5 per unit is avoidable. Should
Truckel make or buy the wickets? 20) Rosen, Inc. has 10,000
obsolete calculators, which are carried in inventory at a cost
of $20,000. If the calculators are scrapped, they can be sold
for $1.10 each (for parts). If they are repackaged, at a cost of
$15,000, they could be sold to toy stores for $2.50 per unit.
What alternative should be chosen, and why? 21) 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 22) 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

4. contribution margin ratio? 23. Which statement describes a
fixed cost? 24) 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? 25)
Variable costing 26) Which cost is NOT charged to the
product under variable costing? 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
administrative expenses. The per unit manufacturing cost
under absorption costing is 28) Which of the following is NOT
considered an advantage of using standard costs? 29) The
difference between a budget and a standard is that 30) If a
company is concerned with the potential negative effects of
establishing standards, they should 31) The per-unit
standards for direct materials are 2 gallons at $4 per gallon.
Last month, 11,200 gallons of direct materials that actually
cost $42,400 were used to produce 6,000 units of product.
The direct materials quantity variance for last month was 32)
The standard number of hours that should have been worked
for the output attained is 8,000 direct labor hours and the
actual number of direct labor hours worked was 8,400. If the
direct labor price variance was $8,400 unfavorable, and the
standard rate of pay was $18 per direct labor hour, what was
the actual rate of pay for direct labor? 33) The total variance
is $10,000. The total materials variance is $4,000. The total
labor variance is twice the total overhead variance. What is
the total overhead variance? 34) Manufacturing overhead

5. costs are applied to work in process on the basis of 35) The
overhead volume variance relates only to 36) If the standard
hours allowed are less than the standard hours at normal
capacity 37) Gottberg Mugs is planning to sell 2,000 mugs
and produce 2,200 mugs during April. Each mug ...
https://bitly.com/12B5PJV