ACC 349 Final Exam Guide-acc349dotcom
For more course tutorials visit www.acc349.com 1) What does cost accounting measure, record, and report? 2) What is the best way to handle manufacturing overhead costs in order to get the most timely job cost information? 3) At the end of the year, manufacturing overhead has been overapplied. What occurred to create this situation? 4) Which of the following would be accounted for using a job order cost system? 5) In a job order cost accounting system, the Work in Process account is 6) Which one of the following is an important feature of a job order cost system? 7) Which one of the following is indirect labor considered? 8) Which of the following is an element of manufacturing overhead? 9) Which one of the following costs would be included in manufacturing overhead of a lawn mower manufacturer? 10) A well-designed activity-based costing system starts with 11) An activity that has a direct cause-effect relationship with the resources consumed is a(n) 12) In traditional costing systems, overhead is generally applied based on 13) All of the following statements are correct EXCEPT that
For more course tutorials visit
www.acc349.com
1) What does cost accounting measure, record, and report?
2) What is the best way to handle manufacturing overhead costs in order to get the most timely job cost information?
3) At the end of the year, manufacturing overhead has been overapplied. What occurred to create this situation?
4) Which of the following would be accounted for using a job order cost system?
5) In a job order cost accounting system, the Work in Process account is
6) Which one of the following is an important feature of a job order cost system?
7) Which one of the following is indirect labor considered?
8) Which of the following is an element of manufacturing overhead?
9) Which one of the following costs would be included in manufacturing overhead of a lawn mower manufacturer?
10) A well-designed activity-based costing system starts with
11) An activity that has a direct cause-effect relationship with the resources consumed is a(n)
12) In traditional costing systems, overhead is generally applied based on
13) All of the following statements are correct EXCEPT that
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
24) H55 Company sells two products, beer and wine. Beer has a 10<br />
percent profit margin and wine has a 12 percent profit margin. Beer has<br />
a 27 percent contribution margin and wine has a 25 percent contribution<br />
margin. If other factors are equal, which product should H55 push to<br />
customers?<br />
25) Which cost is charged to the product under variable costing?<br />
26) Which cost is NOT charged to the product under variable costing?<br />
27) Variable costing<br />
28) If a company is concerned with the potential negative effects of<br />
establishing standards, they should<br />
29) The difference between a budget and a standard is that<br />
30) A standard cost is<br />
31) The per-unit standards for direct labor are 2 direct labor hours at $12<br />
per hour. If in producing 2,400 units, the actual direct labor cost was<br />
$51,200 for 4,000 direct labor hours worked, the total direct labor<br />
variance is<br />
32) The total variance is $10,000. The total materials variance is $4,000.<br />
The total labor variance is twice the total overhead variance. What is the<br />
total overhead variance?
Change language