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nVisit Below Link, To Download This Course:nnhttps://www.tutorialsservice.net/product/acct-346-final-exam-new-devry/nnOr nEmail us onnSUPPORT@TUTORIALSSERVICE.NETnnACCT 346 FINAL EXAM (NEW) – DEVRYnPage 1nQuestion 1.1. (TCO 4) Assumptions underlying cost-volume-profit analysis include all of the following, except: (Points : 5)nQuestion 2.2. (TCO 6) Which of the following is true about activity-based costing? (Points : 5)nQuestion 3.3. (TCO 2) In a traditional job order cost system, the issue of direct materials to a production department increases: (Points : 5)n

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acct 346 final exam new devry

ACCT 346 FINAL EXAM (NEW) – DEVRY

Visit Below Link, To Download This Course:

https://www.tutorialsservice.net/product/acct-346-final-exam-new-devry/

Or

Email us on

SUPPORT@TUTORIALSSERVICE.NET

ACCT 346 FINAL EXAM (NEW) – DEVRY

Page 1

Question 1.1. (TCO 4) Assumptions underlying cost-volume-profit analysis include all of the following,

except: (Points : 5)

Question 2.2. (TCO 6) Which of the following is true about activity-based costing? (Points : 5)

Question 3.3. (TCO 2) In a traditional job order cost system, the issue of direct materials to a production

department increases: (Points : 5)

Question 4.4. (TCO 5) A cost driver is defined as: (Points : 5)

Question 5.5. (TCO 8)Wood Co. has considerable excess manufacturing capacity. A special job order’s

cost sheet includes the following applied manufacturing overhead costs: Fixed costs: 25,000…….Variable

costs: 36,000…………The fixed costs include a normal $4,500 allocation for in-house design costs,

although no in-house design will be done. Instead, the job will require the use of external designers

costing $9,250. What is the total amount to be included in the calculation to determine the minimum

acceptable price for the job? (Points : 5)

Question 6. 6. (TCO 1) How does managerial and financial accounting differ in terms of the amount of

detail presented and nonmonetary and monetary information? (Points : 25)

Question 7. 7. (TCO 2) Wolf Co. estimates that its employees will work 500,000 direct labor hours during

the coming year. Total overhead costs are estimated to be $9,600,000 and direct labor costs are

estimated to be $12,500,000. Direct Labor hours are actually 450,000…………….If Wolf Co. allocates

overhead based on direct labor HOURS, what is the predetermined overhead rate? (Points : 25)

page 2

Page 2

Question 1. 1. (TCO 3) The Mixing Department is the third department in the MZS Inc. factory. During

January, there were 4,000 units of beginning inventory in the Mixing Department, and 90,000 units were

transferred in from the prior process. There were 8,000 units in ending inventory. The transferred-in cost

in the beginning inventory was $170,000 and there was $600,000 in transferred-in cost during the

month……….What is the cost per equivalent unit for transferred-in cost? (Points : 25)

Question 2. 2. (TCO 4) Assume that we are manufacturing a product and assume that the sales price per

unit is $60 and the variable cost is $20 per unit and the fixed cost is $80,000; a) how many units would we

need to sell to break even? b) How many units would we need to sell to earn a profit of $120,000? c) How

many units do we need to sell to double that profit to $240,000? D) Why didn’t the number of units double

from Part B to Part C? (Points : 25)

Question 3. 3. (TCO 5) Sivan Co. manufactures and sells one product. For the year, they started with no

opening inventory; produced 100,000 units, but only sold 70,000 units. The selling price per each unit is

$60……………….(a) Prepare the Income Statement using Absorption Costing. (b) Prepare the Income

Statement using Variable Costing. (Points : 25)

Question 4. 4. (TCO 6) At Long Co. electricity cost starts with a minimum fixed cost, and after that, there

is a perfectly variable expense. Using estimated machine hours:……………..What is the a) estimated

variable cost per machine hour and what is the b) estimated TOTAL fixed cost? (Points : 25)

Question 5. 5. (TCO 7) North Company produces a small part that it uses in the production of its Product

H. The company’s unit product cost for the part, based on a production of 100,000 parts per year, is as

follows:………………..100% of the traceable or avoidable fixed manufacturing cost is supervisor salaries

and other costs that can be ELIMINATED if the parts are purchased. The decision to buy the parts from

the outside supplier would have no effect on the common fixed costs of the company, and the space

being used to produce the parts would otherwise be idle. Ignore the impact of income taxes in your

calculation…….How much would profits increase or decrease as a result of purchasing the parts from the

outside supplier rather than making them inside the company? (Points : 25)

Question 6. 6. (TCO 9) Harry Corp buys equipment for $224,888 that will last for 9 years. The equipment

will generate cash flows of $36,000 per year and will have no salvage value at the end of its life. Ignore

taxes. Use 10% required rate of return…..(a) What is the Present Value (PV) of this investment (at 10%)?

(b) What is the NET Present Value (NPV) of this investment? If you need 10%, should you buy the

equipment c what is the internal rate of return

equipment? (c) What is the Internal Rate of Return (IRR) of this investment? (d) What is the payback

period? . (Points : 25)

Question 7. 7. (TCO 10) Tanya Corp sells its products on both credit and cash basis. Monthly sales are

sold 20% for cash, 80% for credit. Credit sales are collected 65% in the month of sale and 35% the

following month. Sales for the first quarter are BUDGETED as follows: January $200,000; February

$300,000; March $300,000. Compute cash collections Budgeted for February. How much cash was

collected in the month? (Points : 25)

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