ACCT 346 FINAL EXAM (NEW) – DEVRY

ACCT 346 FINAL EXAM (NEW) – DEVRY


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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)
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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...