ACCT 505 Final Exam –
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ACCT 505 Final Exam – latest 2016
1. (TCO E) Designing a new product is a(n) (Points : 5)
organization sustaining activity.
Question 2.2. (TCO G) Given the following data, what would ROI be?
Net operating income $10,000
Contribution margin $20,000
Average operating assets $50,000
Stockholder’s equity $25,000
(Points : 5)
1. RspGF=”font-family:’Arial’;font-size:10pt;”(TCO C) Longiotti Corporation produces and sells a single product. Data concerning that product appear below.
Selling price per unit $375.00
Variable expense per unit $144.00
Fixed expense per month $1,686,300
Determine the monthly breakeven in units or dollar sales. Show your work! (Points : 25)
2. TCO B) Maverick Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below.
Work in process, beginning:
Units in beginning work in process inventory 400
Materials costs $6,900
Conversion costs $2,500
Percent complete for materials 80%
Percent complete for conversion 15%
Units started into production during the month 6,000
Units transferred to the next department during the month 5,600
Materials costs added during the month $112,500
Conversion costs added during the month $210,300
Ending work in process:
Units in ending work-in-process inventory 800
Percentage complete for materials 70%
Percentage complete for conversion 30%
Required: Calculate the equivalent units for conversion for the month in the first processing department. (Points : 25)\
1. TCO D) Topple Company produces a single product. Operating data for the company and its absorption costing...