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
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39) Gottberg Mugs is planning to sell 2,000 mugs and produce 2,200<br />
mugs during April. Each mug requires 2 pounds of resin and a half hour<br />
of direct labor. Resin costs $1 per pound and employees of the company<br />
are paid $12.50 per hour. Manufacturing overhead is applied at a rate of<br />
120% of direct labor costs. Gottberg has 2,000 pounds of resin in<br />
beginning inventory and wants to have 2,400 pounds in ending inventory.<br />
How much is the total amount of budgeted direct labor for April?<br />
40) The cost-plus pricing approach's major advantage is<br />
41) A company must price its product to cover its costs and earn a<br />
reasonable profit in<br />
42) Prices are set by the competitive market when
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