Peaceful Pastures Free Essays

Mid-term Exam| Page: | 1 2 3 | 1. | Question ðÿ˜  (TCO 1) The objective of administrative bookkeeping is to give data that directors need for| | Student Answer:| | arranging. | control. We will compose a custom paper test on Serene Pastures or on the other hand any comparative subject just for you Request Now | dynamic. | All of the above answers are right. | Instructor Explanation:| Chapter 1, Page 4| | Points Received:| 4 of 4 | Comments:| | 2. | Question ðÿ˜  TCO 1) Which of the accompanying articulations with respect to fixed expenses is valid? | Student Answer:| | When creation increments, fixed expense per unit increments. | When creation diminishes, complete fixed costs decline. | When creation increments, fixed expense per unit diminishes. | When creation diminishes, all out fixed costs increment. | Instructor Explanation:| Chapter 1, Page 9| | Points Received:| 4 of 4 | Comments:| | 3. | Question ðÿ˜  (TCO 1) A retailer bought some stylish garments that have become unpopular and must be discounted to 40% of the first offering cost so as to be sold. Which of coming up next is a sunk expense in this circumstance? | Student Answer:| | the present selling cost | the first selling cost | the first price tag | the foreseen benefit | Instructor Explanation:| Chapter 1, Page 9| | Points Received:| 4 of 4 | Comments:| | 4. | Question ðÿ˜  (TCO 1) Shula’s 347 Grill has planned the accompanying expenses for a month wherein 1,600 steak meals will be created and sold: materials, $4,080; hourly work (variable), $5,200; lease (fixed), $1,700; deterioration, $800; and other fixed expenses, $600. Every nice meal sells for $14. 00 each. What amount is the planned variable expense per unit? | Student Answer:| | $5. 80 | $7. 74 | $6. 68 | $3. 25 | Instructor Explanation:| Chapter 1, Page 8 ($4,080 + $5,200)/1,600 = $5. 80| | Points Received:| 0 of 4 | Comments:| | 5. | Question ðÿ˜  (TCO 1) Which of coming up next is a case of an assembling overhead expense? | Student Answer:| | security at the assembling plant | texture used to deliver shirts | cost of transportation item to clients | the pay of the leader of the organization | Instructor Explanation:| Chapter 2, Page 37| | Points Received:| 0 of 4 | Comments:| | 6. | Question ðÿ˜  (TCO 1) Product c osts| | Student Answer:| | are likewise called fabricating costs. | are viewed as an advantage until the completed products are sold. | become a cost when the merchandise are sold. | All of the above answers are right. | Instructor Explanation:| Chapter 2, Page 38| | Points Received:| 4 of 4 | Comments:| | 7. | Question ðÿ˜  (TCO 1) At December 31, 2010, WDT Inc. has a parity in the Work in Process Inventory record of $62,000. At January 1, 2010, the equalization was $55,000. Current assembling costs for the year are $292,000, and cost of products sold is $284,000. What amount is cost of merchandise made? | Student Answer:| | $292,000 | $299,000 | $277,000 | $285,000 | Instructor Explanation:| Chapter 2, Page 43 $55,000 + $292,000 †$62,000 = $285,000| | Points Received:| 0 of 4 | Comments:| | 8. | Question ðÿ˜  (TCO 2) BCS Company applies fabricating overhead dependent on direct work hours. Data concerning producing overhead and work for August follows: | Estimated| Act ual| Overhead cost| $174,000| $171,000| Direct work hours| 5,800| 5,900| Direct work cost| $87,000| $89,975| How much overhead ought to be applied altogether during August? | Student Answer:| | 177,000 | 179,950 | 171,100 | 168,200 | Instructor Explanation:| Chapter 2, Page 54 ($174,000/5,800) x 5,900 = 177,000| | Points Received:| 0 of 4 | Comments:| | 9. | Question ðÿ˜  (TCO 2) Citrus Company brought about assembling overhead expenses of $300,000. All out overhead applied to occupations was $306,000. What was the measure of overapplied or underapplied overhead? | Student Answer:| | $7,000 overapplied | $6,000 overapplied | $6,000 underapplied | $13,000 underapplied | Instructor Explanation:| Chapter 2, Page 55 $306,000 †$300,000 = $6,000 overapplied| | Points Received:| 4 of 4 | Comments:| | 10. | Question ðÿ˜  (TCO 3) Companies in which of the accompanying businesses would not probably use process costing? | Student Answer:| | oats | paints | beautifying agents | aut o body shop | Instructor Explanation:| Chapter 3, Page 84| | Points Received:| 4 of 4 | Comments:| | 11. | Question ðÿ˜  (TCO 3) The Blending Department started the period with 45,000 units. During the period the office got another 30,000 units from the earlier division and finished 60,000 units during the period. The rest of the units were 75% finished. What amount are equal units in The Blending Department’s work in process stock toward the finish of the period? | Student Answer:| | 30,000 | 22,500 | 15,000 | 11,250 | Instructor Explanation:| Chapter 3, Page 88 (45,000 + 30,000 †60,000) x 75% = 11,250| | Points Received:| 4 of 4 | Comments:| | 12. | Question ðÿ˜  (TCO 3) Ranger Glass Company makes glass for French entryways. Toward the beginning of May, 2,000 units were in-process. During May, 11,000 units were finished and 3,000 units were in process toward the finish of May. These in-process units were 90% finished as for material and half complete regarding change costs. Other data is as per the following: Work in process, May 1:| | Direct material| $36,000| Conversion costs| $45,000| Costs acquired during May:| | Direct material| $186,000| Conversion costs| $255,000| How much is the expense per equal unit for direct materials? | Student Answer:| | $24. 00 | $16. 20 | $15. 86 | $13. 58 | Instructor Explanation:| Chapter 3, Page 89 ($36,000 + $186,000)/[11,000 + (3,000 x 90%)] = $16. 20| | Points Received:| 0 of 4 | Comments:| | 13. | Question ðÿ˜  (TCO 4) Duradyne, Inc. has all out expenses of $18,000 when 2,000 units are created and $26,000 when 5,200 units are delivered. During March, 4,000 units were created and sold for $8 each. What is the variable expense per unit? | Student Answer:| | $2. 0 | $0. 40 | $2. 00 | $4. 00 | Instructor Explanation:| Chapter 4, Page 127 ($26,000 †$18,000)/(5,200 †2,000) = $2. 50| | Points Received:| 4 of 4 | Comments:| | Page: | 1 2 3 | 1. | Question ðÿ˜  (TCO 4) The three components of the net revenue are:| | Student Answer:| | Selling cost per unit, variable expense per unit, and fixed expense per unit. | Total incomes, complete variable ex penses, and all out fixed expense. | Selling cost per unit, variable expense per unit, and complete fixed expenses. | Selling cost per unit, absolute variable expenses, and fixed expense per unit. | Instructor Explanation:| Chapter 4, Page 130| | Points Received:| 0 of 4 | Comments:| | 2. | Question ðÿ˜  (TCO 4) Circle K Furniture has a commitment edge proportion of 16%. Whenever fixed expenses are $176,800, what number of dollars of income should the organization create so as to arrive at the earn back the original investment point? | Student Answer:| | $1,105,000 | $282,880 | $1,060,800 | $208,476 | Instructor Explanation:| Chapter 4, Page 133 $176,800/16% = $1,105,000| | Points Received:| 4 of 4 | Comments:| | 3. | Question ðÿ˜  (TCO 4) Randy Company delivers a solitary item that is sold for $85 per unit. In the event that variable expenses per unit are $26 and fixed costs absolute $47,500, what number of units must Randy sell so as to gain a benefit of $100,000? | Student Answer:| | 1,735 | 618 | 890 | 2,500 | Instructor Explanation:| Chapter 4, Page 132 ($100,000 + $47,500)/($85 †$26) = 2,500 units| | Points Received:| 4 of 4 | Comments:| | 4. | Question ðÿ˜  (TCO 5) Which of coming up next is dealt with distinctively in full costing than in factor costing? | Student Answer:| | Direct materials | Fixed assembling overhead | Direct work | Variable assembling overhead | Instructor Explanation:| Chapter 5, Page 168| | Points Received:| 4 of 4 | Comments:| | 5. | Question ðÿ˜  (TCO 5) Which of the accompanying things shows up on a variable costing salary explanation yet not on a full costing pay articulation? | Student Answer:| | Sales | Gross edge | Net pay | Contribution edge | Instructor Explanation:| Chapter 5, Page 169| | Points Received:| 4 of 4 | Comments:| | 6. | Qu estion ðÿ˜  (TCO 5) Peak Manufacturing produces snow blowers. The selling cost per snow blower is $100. Costs engaged with creation are: Direct Material per unit| $20| Direct Labor per unit| 12| Variable assembling overhead per unit| 10| Fixed assembling overhead per year| $148,500| furthermore, the organization has fixed selling and managerial expenses of $150,000 every year. During the year, Peak produces 45,000 snow blowers and sells 30,000 snow blowers. What amount is total compensation utilizing full costing? | Student Answer:| | 1,641,000 | $1,590,000 | $1,441,500 | $1,491,000 | Instructor Explanation:| Chapter 5, Pages 172-174 Sales = $100 x 30,000 = $3,000,000Expenses = [($148,500/45,000) + $20 + $12 + $10] x 30,000 = $1,359,000 COGS + $150,000 = $1,509,000Net Income = $3,000,000 †$1,509,000 = $1,491,000| | Points Received:| 0 of 4 | Comments:| | 7. | Question ðÿ˜  (TCO 6) Costs might be distributed to | Student Answer:| | items. | administrations. | divisions. | any of the abovementioned. | Instructor Explanation:| Chapter 6, Page 201| | Points Received:| 4 of 4 | Comments:| | 8. | Question ðÿ˜  (TCO 5) A distribution base| | Student An