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1 POINT

Choc. Creme. Cruller. Boston Creme. Jelly. NONE. 1 POINT. 1 POINT. 1 POINT. 1 POINT. 1 POINT. 2 POINTS. 2 POINTS. 2 POINTS. 2 POINTS. 2 POINTS. 3 POINTS. 3 POINTS. 3 POINTS. 3 POINTS. 3 POINTS. 4 POINTS. 4 POINTS. 4 POINTS. 4 POINTS. 4 POINTS. 5 POINTS. 5 POINTS.

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1 POINT

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  1. Choc. Creme Cruller Boston Creme Jelly NONE 1 POINT 1 POINT 1 POINT 1 POINT 1 POINT 2 POINTS 2POINTS 2POINTS 2 POINTS 2 POINTS 3 POINTS 3 POINTS 3 POINTS 3 POINTS 3 POINTS 4 POINTS 4 POINTS 4 POINTS 4 POINTS 4 POINTS 5 POINTS 5 POINTS 5 POINTS 5 POINTS 5 POINTS

  2. 1 POINT In making ice cream, sugar is this type of cost (DM, DL, FOH, other)

  3. What is Direct Materials?

  4. 2 POINTS In making ice cream, the factory equipment depreciation is this type of cost (DM, DL, FOH, other)

  5. What is the FOH?

  6. 3 POINTS In making ice cream, factory supervisor’s salary is this type of cost (DM, DL, FOH, other)

  7. What is FOH?

  8. 4 POINTS In making ice cream, the company president’s salary is this type of cost (DM, DL, FOH, other)

  9. What is other – Admin expense

  10. 5 POINTS In making ice cream, depreciation of the computers in the main, headquarters office is this type of cost (DM, DL, FOH, other)

  11. What is other?

  12. 1 POINT Prime costs are these.

  13. What is DM and DL?

  14. 2 POINTS Conversion costs are these.

  15. What is DL and FOH?

  16. 3 POINTS This is both a prime and conversion cost.

  17. What is DL?

  18. 4 POINTS What type of reports need to be prepared in accordance with GAAP?

  19. What are financial statements?

  20. 5 POINTS This is the primary reason managerial accounting reports are prepared.

  21. What is to meet management’s needs?

  22. 1 POINT These are the two main cost systems for manufacturing operations.

  23. What is process and job order?

  24. 2 POINTS These are the categories of inventory for a manufacturing company.

  25. What is Raw Materials, WIP, and FG?

  26. 3 POINTS The journal entry to put raw materials into production is this.

  27. Dr. WIP XX Cr. Materials XX

  28. 4 POINTS The journal entry to record completed jobs.

  29. Dr. FG XX Cr. WIP XX

  30. 5 POINTS The journal entries to record the sale of a product.

  31. Dr. A/R (Cash) XX Cr. Sales revenue XX Dr. COGS XX Cr. FG XX

  32. 1 POINT Period costs are usually these.

  33. What is selling and administrative?

  34. 2 POINTS The journal entry to transfer costs from Dept 1 to Dept 2 in a process cost system.

  35. Dr. WIP 2 XX Cr. WIP 1 XX

  36. 3 POINTS This is how gross margin is calculated.

  37. What is Sales Revenue – Cost of Good Sold.

  38. 4 POINTS BB Raw Materials = $40,000 Purchased Materials = $80,000 EB Raw Materials = $22,000 This was the amount of RM placed in production.

  39. What is $98,000?

  40. 5 POINTS • Order these steps: • Allocate costs to transferred and partially completed units • Determine the cost per EU • Calculate EU of production • Determine the units to be assigned costs

  41. What is 4,3,2,1.

  42. 1 POINT

  43. 2 POINTS

  44. 3 POINTS

  45. 4 POINTS

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