1 / 17

ACC 349 Competitive Success--tutorialrank.com

For more course tutorials visit<br>www.tutorialrank.com<br><br>Excel Sheet can be used for any change in values, it automatically gives correct answers<br><br> <br><br>1.The following costs were incurred in September: <br><br>Direct materials $42,700 <br>

Download Presentation

ACC 349 Competitive Success--tutorialrank.com

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. ACC 349 Final Exam Guide (New 2020 with Excel sheet) For more course tutorials visit www.tutorialrank.com Excel Sheet can be used for any change in values, it automatically gives correct answers 1.The following costs were incurred in September: Direct materials $42,700 Direct labor $29,400 Manufacturing overhead $27,300 Selling expenses $23,600

  2. Administrative expenses $33,700 Conversion costs during the month totaled: 2.A soft drink bottler incurred the following factory utility cost: $3,861 for 950 cases bottled and $3,922 for 1,200 cases bottled. Factory utility cost is a mixed cost containing both fixed and variable components. The variable factory utility cost per case bottled is closest to: 3.The following cost data pertain to the operations of Swestka Department Stores, Inc., for the month of July. Corporate headquarters building lease $87,600 Cosmetics Department sales commissions--Northridge Store $5,230 Corporate legal office salaries $60,500 Store manager's salary-Northridge Store $17,200 Heating-Northridge Store $20,200

  3. Cosmetics Department cost of sales--Northridge Store $37,400 Central warehouse lease cost $11,100 Store security-Northridge Store $18,900 Cosmetics Department manager's salary--Northridge Store $4,150 The Northridge Store is just one of many stores owned and operated by the company. The Cosmetics Department is one of many departments at the Northridge Store. The central warehouse serves all of the company's stores. What is the total amount of the costs listed above that are direct costs of the Cosmetics Department?

  4. 4.Erkkila Inc. reports that at an activity level of 6,400 machine-hours in a month, its total variable inspection cost is $425,930 and its total fixed inspection cost is $179,493. What would be the average fixed inspection cost per unit at an activity level of 6,700 machine-hours in a month? Assume that this level of activity is within the relevant range. 5.Nikkel Corporation, a merchandising company, reported the following results for July: Sales $407,000 Cost of goods sold (all variable) $173,400 Total variable selling expense $20,400

  5. Total fixed selling expense $22,200 Total variable administrative expense $14,800 Total fixed administrative expense $39,700 The contribution margin for July is: 6.Job 593 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $2,412 Direct labor-hours 74 labor-hours

  6. Direct labor wage rate $ 21 per labor-hour Machine-hours 137 machine-hours The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $22 per machine- hour. The total cost that would be recorded on the job cost sheet for Job 593 would be: 7.The Assembly Department started the month with 19,500 units in its beginning work in process inventory. An additional 285,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 45,250 units in the ending work in process inventory of the Assembly Department. How many units were transferred to the next processing department during the month?

  7. 8.Lasseter Corporation has provided its contribution format income statement for August. The company produces and sells a single product. If the company sells 5,200 units, its total contribution margin should be closest to: 9.Olds Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of units produced 5,400 Variable costs per unit: Direct materials $88 Direct labor $79

  8. Variable manufacturing overhead $7 Variable selling and administrative expense $13 Fixed costs: Fixed manufacturing overhead $210,600 Fixed selling and administrative expense $388,800 There were no beginning or ending inventories. The absorption costing unit product cost was: 10.Zurasky Corporation is considering two alternatives: A and B. Costs associated with the alternatives are listed below:

  9. Alternative A Alternative B Materials costs $22,000 $52,000 Processing costs $28,000 $28,000 Equipment rental $10,100 $28,200 Occupancy costs $10,500 $22,000 What is the differential cost of Alternative B over Alternative A, including all of the relevant costs?

  10. 11.Bossie Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following data concerning its costs and its activity based costing system: Costs: Wages and salaries $284,000 Depreciation 268,000 Utilities 221,000 Total $773,000 Distribution of resource consumption: Activity Cost Pools Assembly Setting up Other Total Wages and salaries 45% 35% 20% 100%

  11. Depreciation 30% 10% 60% 100% Utilities 15% 65% 20% 100% How much cost, in total, would be allocated in the first-stage allocation to the Assembly activity cost pool? 12.The cash budget is usually prepared after the budgeted income statement. True False 13.Cadavieco Detailing's cost formula for its materials and supplies is $2,090 per month plus $15 per vehicle. For the month of November, the company planned for activity of 89 vehicles, but the actual level of

  12. activity was 49 vehicles. The actual materials and supplies for the month was $2,660. The materials and supplies in the planning budget for November would be closest to: Q-14 Aide Industries is a division of a major corporation. Data concerning the most recent year appears below: Sales $18,120,000 Net operating income $1,177,800 Average operating assets $4,450,000

  13. The division's return on investment (ROI) is closest to: (Round your answer to 2 decimal places.) Q-15 Blue Corporation's standards call for 5,800 direct labor-hours to produce 1,450 units of product. During May 1,050 units were produced and the company worked 1,350 direct labor-hours. The standard hours allowed for May production would be: Q-16 The following standards for variable manufacturing overhead have been established for a company that makes only one product: Standard hours per unit of output 6.0 hours Standard variable overhead rate $12.40 per hour The following data pertain to operations for the last month: Actual hours 2,600 hours

  14. Actual total variable manufacturing overhead cost $32,870 Actual output 250 units What is the variable overhead efficiency variance for the month? What is the variable overhead efficiency variance for the month? 17.Wyly Inc. produces and sells a single product. The selling price of the product is $240.00 per unit and its variable cost is $88.80 per unit. The fixed expense is $374,598 per month. The break-even in monthly dollar sales is closest to: (Round your intermediate calculations to 2 decimal places.) Use excel sheet for any change in values

  15. 18.Part O43 is used in one of Scheetz Corporation's products. The company's Accounting Department reports the following costs of producing the 16,400 units of the part that are needed every year. An outside supplier has offered to make the part and sell it to the company for $32.00 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including direct labor, can be avoided. The special equipment used to make the part was purchased many years ago and has no salvage value or other use. The allocated general overhead represents fixed costs of the entire company. If the outside supplier's offer were accepted, only $22,400 of these allocated general overhead costs would be avoided. Required: a. Prepare a report that shows the effect on the company's total net operating income of buying part O43 from the supplier rather than continuing to make it inside the company. (Input the amount as a positive value. Omit the "$" sign in your response.) Net operating income would decrease be by $ .

  16. Make 19.Activity rates from Quattrone Corporation's activity-based costing system are listed below. The company uses the activity rates to assign overhead costs to products: Activity Cost Pools Activity Rate Processing customer orders $94.07 per customer order Assembling products $2.87 per assembly hour Setting up batches $62.33 per batch Last year, Product F76D involved 3 customer orders, 464 assembly hours, and 21 batches. How much overhead cost would be assigned to Product F76D using the activity-based costing system?

  17. 20.The Gasson Company uses the weighted-average method in its process costing system. The company's ending work in process inventory consists of 12,000 units, The ending work in process inventory is 100% complete with respect to materials and 70% complete with respect to labor and overhead. If the costs per equivalent unit for the period $4.10 for the materials and $1.30 for labor and overhead, whatis the balance of the ending work in process inventory account would be: (Do not round Cost per equivalent unit) ==============================================

More Related