ACCT 505 Managerial Accounting Entire Course

More documents

Recommendations

Info

job. III. Overhead application should be made to any job not completed at year end in order to properly value the work in process inventory. (Points : 6) Only statement I is true. Only statement II is true. Both statements I and II are true. Statements I, II, and III are true. Question 6.6. (TCO B) Under a job-order costing system, the product being manufactured (Points : 6) is homogeneous. passes from one manufacturing department to the next before being completed. can be custom manufactured. has a unit cost that is easy to calculate by dividing total production costs by the units produced. Question 7.7. (TCO F) Equivalent units for a process costing system using the FIFO method would be equal to (Points : 6) units completed during the period, plus equivalent units in the ending work-in-process inventory. units started and completed during the period, plus equivalent units in the ending work-in-process inventory. units completed during the period and transferred out. units started and completed during the period, plus equivalent units in the ending work-in-process inventory, plus work needed to complete units in the beginning work-in-process inventory. Question 8.8. (TCO C) The contribution margin
equals (Points : 6) sales – expenses. sales – variable costs. sales – cost of goods sold. sales – fixed costs. Question 9.9. (TCO C) Which of the following would not affect the break-even point? (Points : 6) Variable expense per unit Number of units sold Total fixed expenses Selling price per unit Question 10.10. (TCO D) Under variable costing, (Points : 6) inventory costs will be lower than under absorption costing. inventory costs will be higher than under absorption costing. net operating income will always be lower than under absorption costing. net operating income will always be higher than under absorption costing. 1. (TCO A) The following data (in thousands of dollars) have been taken from the accounting records of Larop Corporation for the just-completed year. Sales $950 Purchases of raw materials $225 Direct labor $250 Manufacturing overhead $295 Administrative expenses $150 Selling expenses $140 Raw materials inventory, beginning $30 Raw materials inventory, ending $45 Work-in-process inventory, $20 beginning Work-in-process inventory, $55 ending Finished goods inventory, $100
Page 1 and 2: ACCT 505 Managerial Accounting Enti
Page 3 and 4: Go to pages 170 and 171 and read Ca
Page 5: taxes on a company’s factory buil
Page 9 and 10: Fixed selling and admin $200,000 Re
Page 11 and 12: Devry ACCT 505 Week 6 Quiz latest 2
Page 13 and 14: Selling and Administrative $270,075
Page 15 and 16: life of the machinery. The producti
Page 17 and 18: Add cost of goods manufactured 54,0
Page 19 and 20: Estimated variable manufacturing ov
Page 21 and 22: Sales 1,150 Raw materials inventory
Page 23: 2. (TCO F) Memphis Corporation is p

ACCT 505 Managerial Accounting Entire Course

Create successful ePaper yourself

Delete template?

Save as template?