Acct 346 Week 4 Midterm 1 (Devry)

In: Other Topics

Submitted By michelecash122
Words 1245
Pages 5
ACCT 346 Week 4 Midterm 1 (Devry)

Purchase here

http://devrycourse.com/acct-346-week-4-midterm-1-devry

Product Description

1. Question :(TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for
2. Question :TCO 1) Which of the following statements regarding fixed costs is true?
3. Question :(TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation?
4. Question :(TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit?
5. Question :(TCO 1) Which of the following is an example of a manufacturing overhead cost?
6. Question :(TCO 1) Which of the following is a period cost?
7. Question :(TCO 1) If the balance in the Finished Goods Inventory account increased by $30,000 during the period and the cost of goods manufactured was $220,000, how much is cost of goods sold?
8. Question :(TCO 2) BCS Company applies manufacturing overhead based on direct labor cost. Information concerning manufacturing overhead and labor for August follows:
Estimated
Actual
9.Question :(TCO 2) During 2011, Madison Company applied overhead using a job-order costing system at a rate of $12 per direct labor hours. Estimated direct labor hours for the year were 150,000, and estimated overhead for the year was $1,800,000. Actual direct labor hours for 2011 were 140,000 and actual overhead was $1,670,000.
What is the amount of under or over applied overhead for the year?
10. Question :(TCO 3) Companies in which of the following…...

Similar Documents

Acct 346 Midterm Exam - Updated Devry

...ACCT 346 Midterm Exam - Updated DeVry IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/ACCT-346-Midterm-Exam-Updated-DeVry-4455443.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com Question : (TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for Question : (TCO 1) Which of the following statements regarding fixed costs is true? Question : (TCO 1) Which of the following costs does not change when the level of business activity changes? Question : (TCO 1) A retailer purchased some trendy clothes that have gone out of style and must be marked down to 40% of the original selling price in order to be sold. Which of the following is a sunk cost in this situation? Question : (TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? Question : (TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? Question : (TCO 1) Which of the following costs is not part of manufacturing overhead? Question : (TCO 1) Which of......

Words: 1826 - Pages: 8

Acct 346 Midterm Exam Updated - Devry

...ACCT 346 Midterm Exam Updated - DeVry IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download s http://www.hwnerd.com/ACCT-346-Midterm-Exam-Updated-DeVry-1160.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com Question : (TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for Question : (TCO 1) Which of the following statements regarding fixed costs is true? Question : (TCO 1) Which of the following costs does not change when the level of business activity changes? Question : (TCO 1) A retailer purchased some trendy clothes that have gone out of style and must be marked down to 40% of the original selling price in order to be sold. Which of the following is a sunk cost in this situation? Question : (TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? Question : (TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? Question : (TCO 1) Which of the following costs is not part of manufacturing overhead? Question : (TCO 1) Which of the......

Words: 1828 - Pages: 8

Acct 346 Midterm Exam - Updated Devry

...ACCT 346 Midterm Exam - Updated DeVry IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/ACCT-346-Midterm-Exam-Updated-DeVry-4455443.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com Question : (TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for Question : (TCO 1) Which of the following statements regarding fixed costs is true? Question : (TCO 1) Which of the following costs does not change when the level of business activity changes? Question : (TCO 1) A retailer purchased some trendy clothes that have gone out of style and must be marked down to 40% of the original selling price in order to be sold. Which of the following is a sunk cost in this situation? Question : (TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? Question : (TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? Question : (TCO 1) Which of the following costs is not part of manufacturing overhead? Question : (TCO 1) Which of......

Words: 1826 - Pages: 8

Acct 346 Midterm Exam - Updated Devry

...ACCT 346 Midterm Exam - Updated DeVry IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/ACCT-346-Midterm-Exam-Updated-DeVry-4455443.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com Question : (TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for Question : (TCO 1) Which of the following statements regarding fixed costs is true? Question : (TCO 1) Which of the following costs does not change when the level of business activity changes? Question : (TCO 1) A retailer purchased some trendy clothes that have gone out of style and must be marked down to 40% of the original selling price in order to be sold. Which of the following is a sunk cost in this situation? Question : (TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? Question : (TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? Question : (TCO 1) Which of the following costs is not part of manufacturing overhead? Question : (TCO 1) Which of......

Words: 1826 - Pages: 8

Acct 346 Midterm Exam Updated – Devry

...ACCT 346 MIDTERM EXAM UPDATED – DEVRY To buy this click here http://www.coursehomework.com/product/acct-346-midterm-exam-updated-devry/ Contact us : +1 315-750-4434 help@coursehomework.com ACCT 346 MIDTERM EXAM UPDATED - DEVRY ACCT 346 MIDTERM EXAM UPDATED - DEVRY Question : (TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for Question : (TCO 1) Which of the following statements regarding fixed costs is true? Question : (TCO 1) Which of the following costs does not change when the level of business activity changes? Question : (TCO 1) A retailer purchased some trendy clothes that have gone out of style and must be marked down to 40% of the original selling price in order to be sold. Which of the following is a sunk cost in this situation? Question : (TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? Question : (TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? Question : (TCO 1) Which of the following costs is not part of manufacturing overhead? Question : (TCO 1) Which of the following...

Words: 1818 - Pages: 8

Acct 346 Week 4 Midterm 1 (Devry)

...ACCT 346 Week 4 Midterm 1 (Devry) Purchase here http://devrycourse.com/acct-346-week-4-midterm-1-devry Product Description 1. Question :(TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for 2. Question :TCO 1) Which of the following statements regarding fixed costs is true? 3. Question :(TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? 4. Question :(TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? 5. Question :(TCO 1) Which of the following is an example of a manufacturing overhead cost? 6. Question :(TCO 1) Which of the following is a period cost? 7. Question :(TCO 1) If the balance in the Finished Goods Inventory account increased by $30,000 during the period and the cost of goods manufactured was $220,000, how much is cost of goods sold? 8. Question :(TCO 2) BCS Company applies manufacturing overhead based on direct labor cost. Information concerning manufacturing overhead and labor for August follows: Estimated Actual 9.Question :(TCO 2) During 2011, Madison Company applied overhead......

Words: 1245 - Pages: 5

Acct 346 Week 4 Midterm 1 (Devry)

...ACCT 346 Week 4 Midterm 1 (Devry) Purchase here http://devrycourse.com/acct-346-week-4-midterm-1-devry Product Description 1. Question :(TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for 2. Question :TCO 1) Which of the following statements regarding fixed costs is true? 3. Question :(TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? 4. Question :(TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? 5. Question :(TCO 1) Which of the following is an example of a manufacturing overhead cost? 6. Question :(TCO 1) Which of the following is a period cost? 7. Question :(TCO 1) If the balance in the Finished Goods Inventory account increased by $30,000 during the period and the cost of goods manufactured was $220,000, how much is cost of goods sold? 8. Question :(TCO 2) BCS Company applies manufacturing overhead based on direct labor cost. Information concerning manufacturing overhead and labor for August follows: Estimated Actual 9.Question :(TCO 2) During 2011, Madison Company applied overhead......

Words: 1245 - Pages: 5

Acct 346 Week 4 Midterm 1 (Devry)

...ACCT 346 Week 4 Midterm 1 (Devry) Purchase here http://devrycourse.com/acct-346-week-4-midterm-1-devry Product Description 1. Question :(TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for 2. Question :TCO 1) Which of the following statements regarding fixed costs is true? 3. Question :(TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? 4. Question :(TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? 5. Question :(TCO 1) Which of the following is an example of a manufacturing overhead cost? 6. Question :(TCO 1) Which of the following is a period cost? 7. Question :(TCO 1) If the balance in the Finished Goods Inventory account increased by $30,000 during the period and the cost of goods manufactured was $220,000, how much is cost of goods sold? 8. Question :(TCO 2) BCS Company applies manufacturing overhead based on direct labor cost. Information concerning manufacturing overhead and labor for August follows: Estimated Actual 9.Question :(TCO 2) During 2011, Madison Company applied overhead......

Words: 1245 - Pages: 5

Acct 346 Week 4 Midterm 1 (Devry)

...ACCT 346 Week 4 Midterm 1 (Devry) Purchase here http://chosecourses.com/ACCT%20346/acct-346-week-4-midterm-2-devry Product Description 1. Question :(TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for 2. Question :TCO 1) Which of the following statements regarding fixed costs is true? 3. Question :(TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? 4. Question :(TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? 5. Question :(TCO 1) Which of the following is an example of a manufacturing overhead cost? 6. Question :(TCO 1) Which of the following is a period cost? 7. Question :(TCO 1) If the balance in the Finished Goods Inventory account increased by $30,000 during the period and the cost of goods manufactured was $220,000, how much is cost of goods sold? 8. Question :(TCO 2) BCS Company applies manufacturing overhead based on direct labor cost. Information concerning manufacturing overhead and labor for August follows: Estimated Actual 9.Question :(TCO 2) During 2011, Madison Company applied...

Words: 4985 - Pages: 20

Acct 346 Week 4 Midterm 1 (Devry)

...ACCT 346 Week 4 Midterm 1 (Devry) Purchase here http://devrycourse.com/acct-346-week-4-midterm-1-devry Product Description 1. Question :(TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for 2. Question :TCO 1) Which of the following statements regarding fixed costs is true? 3. Question :(TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? 4. Question :(TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? 5. Question :(TCO 1) Which of the following is an example of a manufacturing overhead cost? 6. Question :(TCO 1) Which of the following is a period cost? 7. Question :(TCO 1) If the balance in the Finished Goods Inventory account increased by $30,000 during the period and the cost of goods manufactured was $220,000, how much is cost of goods sold? 8. Question :(TCO 2) BCS Company applies manufacturing overhead based on direct labor cost. Information concerning manufacturing overhead and labor for August follows: Estimated Actual 9.Question :(TCO 2) During 2011, Madison Company applied overhead......

Words: 1245 - Pages: 5

Acct 346 Midterm Exam Updated – Devry

...ACCT 346 MIDTERM EXAM UPDATED – DEVRY To purchase this, Click here http://www.coursehomework.com/product/acct-346-midterm-exam-updated-devry/ Contact us at: help@coursehomework.com ACCT 346 MIDTERM EXAM UPDATED - DEVRY ACCT 346 MIDTERM EXAM UPDATED - DEVRY Question : (TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for Question : (TCO 1) Which of the following statements regarding fixed costs is true? Question : (TCO 1) Which of the following costs does not change when the level of business activity changes? Question : (TCO 1) A retailer purchased some trendy clothes that have gone out of style and must be marked down to 40% of the original selling price in order to be sold. Which of the following is a sunk cost in this situation? Question : (TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? Question : (TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? Question : (TCO 1) Which of the following costs is not part of manufacturing overhead? Question : (TCO 1) Which of the following is an example of......

Words: 1815 - Pages: 8

Acct 505 Week 4 Midterm Version 1

...ACCT 505 WEEK 4 MIDTERM VERSION 1 To purchase this visit following link: http://www.activitymode.com/product/acct-505-week-4-midterm-version-1/ Contact us at: SUPPORT@ACTIVITYMODE.COM ACCT 505 WEEK 4 MIDTERM VERSION 1 ACCT 505 Week 4 Midterm Version 1 • Page One 1. (TCO A) Direct material cost is a part of:(Points : 6) 2. (TCO A) A cost incurred in the past that is not relevant to any current decision is classified as a(n): (Points : 6) 3. (TCO A) The cost of lubricants used to grease a production machine in a manufacturing company is an example of a(n): (Points : 6) 4. (TCO A) When the activity level is expected to increase within the relevant range, what effects would be anticipated with respect to each of the following? 5. (TCO F) Emco Company uses direct labor cost as a basis for computing its predetermined overhead rate. In computing the predetermined overhead rate for last year, the company included in direct labor cost a portion of indirect labor. The effect of this misclassification will be to: (Points : 6) 6. (TCO F) Which of the following statements about process costing system is incorrect?(Points : 6) 7. (TCO F) The weighted-average method of process costing differs from the FIFO method of process costing in that the weighted-average method: (Points : 6) 8. (TCO B) The contribution margin ratio always increases when the:(Points : 6) 9. (TCO B) The unit sales needed to attain the target profit is found by: (Points : 6) 10. (TCO E) In an income...

Words: 1510 - Pages: 7

Acct 346 Week 4 Midterm 2 (Devry)

...ACCT 346 Week 4 Midterm 2 (Devry) Purchase here http://www.proprofs.com/training/course/?title=acct-346-week-4-midterm-2-devry Product Description Page 1 1.Question :(TCO 1) Which of the following is not a difference between financial accounting and managerial accounting?2. Question :TCO 1) Which of the following statements regarding fixed costs is true?3. Question :(TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation?4. Question :(TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit?5. Question :(TCO 1) Which of the following is an example of a manufacturing overhead cost?6. Question :(TCO 1) Product costs7. Question :(TCO 1) At December 31, 2010, WDT Inc. has a balance in the Work in Process Inventory account of $62,000. At January 1, 2010, the balance was $55,000. Current manufacturing costs for the year are $292,000, and cost of goods sold is $284,000. How much is cost of goods manufactured?8. Question :(TCO 2) BCS Company applies manufacturing overhead based on direct labor hours. Information concerning manufacturing overhead and labor for August...

Words: 1085 - Pages: 5

Acct 346 Week 4 Midterm 1

...ACCT 346 Week 4 Midterm 1 To Buy This material Click below link http://www.uoptutors.com/acct-346/acct-346-week-4-midterm-1 1. Question : (TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for 2. Question : TCO 1) Which of the following statements regarding fixed costs is true? 3. Question : TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? 4. Question :(TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? 5. Question : (TCO 1) Which of the following is an example of a manufacturing overhead cost? 6. Question : (TCO 1) Which of the following is a period cost? 7. Question : (TCO 1) If the balance in the Finished Goods Inventory account increased by $30,000 during the period and the cost of goods manufactured was $220,000, how much is cost of goods sold? 8. Question : (TCO 2) BCS Company applies manufacturing overhead based on direct labor cost. Information concerning manufacturing overhead and labor for August follows: Estimated Actual 9.Question : (TCO 2) During 2011, Madison Company applied overhead using a...

Words: 1256 - Pages: 6

Acct 346 Week 4 Midterm 2

...ACCT 346 Week 4 Midterm 2 To Buy This material Click below link http://www.uoptutors.com/acct-346/acct-346-week-4-midterm-2 1.Question : (TCO 1) Which of the following is not a difference between financial accounting and managerial accounting? 2. Question : TCO 1) Which of the following statements regarding fixed costs is true? 3. Question : (TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? 4. Question : (TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? 5. Question : (TCO 1) Which of the following is an example of a manufacturing overhead cost? 6. Question : (TCO 1) Product costs 7. Question : (TCO 1) At December 31, 2010, WDT Inc. has a balance in the Work in Process Inventory account of $62,000. At January 1, 2010, the balance was $55,000. Current manufacturing costs for the year are $292,000, and cost of goods sold is $284,000. How much is cost of goods manufactured? 8. Question : (TCO 2) BCS Company applies manufacturing overhead based on direct labor hours. Information concerning manufacturing overhead and labor for August follows: Estimated Actual 9....

Words: 1099 - Pages: 5