ACCT 344 WEEK 8 FINAL EXAM
ACCT 344 Week 8 Final Exam,
| (TCO 2) Which cost is NOT a period cost? (Points : 5) |
Lumber for furniture
Executive administrative assistant salary
Depreciation on sales staff's cars
Sales commission
|
| Question 2.2. (TCO 2) Which product would use job-order costing? (Points : 5) |
Ink pens
Custom boot maker
Soda pop
Horse saddles
|
| Question 3.3. (TCO 3) As production occurs, materials, direct labor, and applied manufacturing overhead are recorded in (Points : 5) |
cost of goods sold.
work-in-process.
materials.
finished goods.
|
| Question 4.4. (TCO 8) A company keeps 60 days of materials inventory on hand to avoid shutdowns due to materials shortages. Carrying costs average $5,000 per day. A competitor keeps 30 days of inventory on hand, and the competitor's carrying costs average $2,000 per day. The value-added costs are (Points : 5) |
$300,000.
$150,000.
$60,000.
$0.
|
| Question 5.5. (TCO 8) Which is a value-added activity? (Points : 5) |
Moving
Inspection
Processing
Waiting
|
| Question 6.6. (TCO 1) The break-even point is (Points : 5) |
the volume of activity where all fixed costs are recovered.
where fixed costs equal total variable costs.
where total revenues equal total costs.
where total costs equal total contribution margin.
|
| Question 7.7. (TCO 1) The Kringel Company provides the following information.
Sales (200,000 units) $500,000
Manufacturing costs
Variable $170,000
Fixed $30,000
Selling and administrative costs
Variable $80,000
Fixed $20,000
Which is the break-even point in units for Kringel? (Points : 5)
|
33,334 units
100,000 units
40,000 units
200,000 units
|
ACCT 344 WEEK 8 FINAL EXAM
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