Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Managerial accounting exam 3 answers

25/11/2021 Client: muhammad11 Deadline: 2 Day

ACCT505 Managerial Accounting

ACCT 505 Week 8 Final Exam Version 1

1. (TCO A) Wages paid to the factory maintenance supervisor are considered an example of: (Points : 5)

2. (TCO A) Rent on a manufacturing plant is an element of: (Points : 5)

3. (TCO B) Evergreen Corp. has provided the following data:

Sales per period 1,000 units

Selling price $40 per unit

Variable manufacturing cost $12 per unit

Selling expenses $5,100 plus 5% of selling price

Administrative expenses $3,000 plus 20% of selling price

The number of units needed to achieve a target net operating income of $63,900 would be: (Points : 5)

4. (TCO B) Garth Company sells a single product. If the selling price per unit and the variable expense per unit both increase by 10% and fixed expenses do not change, then: (Points : 5)

5. (TCO E) Rebel Company manufactures a single product and has the following cost structure: Variable costs per unit:

Production................................................. $5

Selling and administrative........................... $3

Fixed costs in total:

Production................................................. $32,000

Selling and administrative........................... $16,000

Last year there were no beginning inventories, 8,000 units were produced, and 7,800 units were sold.

Under variable costing, the unit product cost would be:

(Points : 5)

6. (TCO F) Vagon Corporation has provided data concerning the company's Manufacturing Overhead account for the month of September. Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $76,000 and the total of the credits to the account was $86,000. Which of the following statements is true? (Points : 5)

7. (TCO G) The net present value (NPV) method of investment project analysis assumes that the project's cash flows are reinvested at the: (Points : 5)

8. (TCO G) Logan Company is considering two projects, A and B. The following information has been gathered on these projects:

Project A Project B

Initial investment

needed........................................$40,000 $60,000

Present value of future cash

flows.............................................60,000 85,000

Useful

life.................................................4 years 4 years

Based on this information, which of the following statements is (are) true?

I. Project A has the highest ranking according to the profitability index criterion.

II. Project B has the highest ranking according to the net present value criterion. (Points : 5)

9. (TCO B) Variable expenses for Alpha Company are 40% of sales. What are sales at the break-even point, assuming that fixed expenses total $150,000 per year: (Points : 5)

10. (TCO F) Elliott Company uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The company manufactures tools to customer specifications. The following data pertain to Job 1501:

Direct materials used: $4,200

Direct labor hours worked: 300

Direct labor rate per hour: $8.00

Machine hours used: 200

Predetermined overhead rate per machine hour: $15.00

What is the total manufacturing cost recorded on Job 1501? (Points : 5)

11. (2.1) (TCO C) The following overhead data are for a department of a large company.

12. (2.2) (TCO D) Mr. Earl Pearl, Accountant for Margie Knall, Inc. has prepared the following product-line income data:……….

11. (2.3) (TCO E) Duif Company's absorption costing income statement for the last year of operations is presented below:……….

12. (2.4) (TCO A) The following data (in thousands of dollars) have been taken from the accounting records of Karmana Corporation for the just completed year…….

13. (3.1) (TCO F) 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:……….

14. (3.2) (TCO F) Cavalerio Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units. The costs and percentage completion of these units in beginning inventory were:

15. (3.3) (TCO G) (Ignore income taxes in this problem.) Five years ago, the City of Paranoya spent $30,000 to purchase a computerized radar system called W.A.S.T.E. (Watching Aliens Sent To Earth). Recently, a sales rep from W.A.S.T.E. Radar Company told the city manager about a new and improved radar system that can be purchased for $50,000. The rep also told the manager that the company would give the city $10,000 in trade on the old system. The new system will last 10 years. The old system will also last that long but only if a $4,000 upgrade is done in 5 years. The manager assembled the following information to use in the decision regarding which system is more desirable:

ACCT 505 Week 8 Final Exam Version 2

1. A good example of a common cost which normally could not be assigned to products on a segmented income statement except on an arbitrary basis would be:

2. Turnover is computed by dividing average operating assets into:

3. A segment of a business responsible for both revenues and expenses would be called:

4. All other things being equal, if a division's traceable fixed expenses increase:

5. In computing the margin in a ROI analysis, which of the following is used?

6. Net operating income is defined as:

7. Suppose a manager is to be measured by residual income. Which of the following will not result in an increase in the residual income figure for this manager, assuming other factors remain constant?

8. During April, Division D of Carney Company had a segment margin ratio of 15%, a variable expense ratio of 60% of sales, and traceable fixed expenses of $15,000. Division D's sales were closest to:

9. Cable Company had the following results for the year just ended:

10. The segment margin ratio in Store J was:

11. Company A's residual income is:

12. Company A's return on investment (ROI) is:

13. If South wants a residual income of $50,000 and the minimum required rate of return is 10%, the annual turnover will have to be:

14. How much is the return on the investment?

15. Consider a decision facing a firm of either accepting or rejecting a special offer for one of its products. A cost that is not relevant is:

16. A study has been conducted to determine if Product A should be dropped. Sales of the product total $200,000 per year; variable expenses total $140,000 per year. Fixed expenses charged to the product total $90,000 per year. The company estimates that $40,000 of these fixed expenses will continue even if the product is dropped. These data indicate that if Product A is dropped, the company's overall net operating income would:

17. Manor Company plans to discontinue a department that has a contribution margin of $24,000 and $48,000 in fixed costs. Of the fixed costs, $21,000 cannot be avoided. The effect of this discontinuance on Manor's overall net operating income would be a(an):

18. Manor Company plans to discontinue a department that has a contribution margin of $25,000 and $50,000 in fixed costs. Of the fixed costs, $21,000 cannot be eliminated. The effect on the profit of Manor Company of discontinuing this department would be:

19. Green Company produces 1,000 parts per year, which are used in the assembly of one of its products. The unit product cost of these parts is:

20. Pitkin Company produces a part used in the manufacture of one of its products. The unit product cost of the part is $33, computed as follows:

21. Cardinal Company needs 20,000 units of a certain part to use in one of its products. The following information is available:

22. Products A, B, and C are produced from a single raw material input. The raw material costs $90,000, from which 5,000 units of A, 10,000 units of B, and 15,000 units of C can be produced each period. Product A can be sold at the split-off point for $2 per unit, or it can be processed further at a cost of $12,500 and then sold for $5 per unit. Product A should be:

23. The sunk cost in this situation is:

24. How much of the unit product cost of $59.90 is relevant in the decision of whether to make or buy the part?

25. If direct labor-hours is the company's production constraint, then the three products should be produced in the order:

26. If Austin chooses to produce 4,000 afghans each month, the change in the monthly net operating income as compared to selling 4,000 spindles of yarn is:

27. What is the lowest price Austin should be willing to accept for one afghan as long as it can sell spindles of yarn to the outside market for $12 each?

28. (Ignore income taxes in this problem.) How is depreciation handled by the following capital budgeting techniques?

29. The payback method measures:

30. The evaluation of an investment having uneven cash flows using the payback method:

31. If the net present value of a project is zero based on a discount rate of sixteen percent, then the time-adjusted rate of return:

32. (Ignore income taxes in this problem.) A company with $800,000 in operating assets is considering the purchase of a machine that costs $75,000 and which is expected to reduce operating costs by $20,000 each year. The payback period for this machine in years is closest to:

33. (Ignore income taxes in this problem.) Denny Corporation is considering replacing a technologically obsolete machine with a new state-of-the-art numerically controlled machine. The new machine would cost $450,000 and would have a ten-year useful life. Unfortunately, the new machine would have no salvage value. The new machine would cost $20,000 per year to operate and maintain, but would save $100,000 per year in labor and other costs. The old machine can be sold now for scrap for $50,000. The simple rate of return on the new machine is closest to:

34. Perkins Company is considering several investment proposals, as shown below:

35. (Ignore income taxes in this problem.) The following data pertain to an investment proposal:

36. (Ignore income taxes in this problem.) Sam Weller is thinking of investing $70,000 to start a bookstore. Sam plans to withdraw $15,000 from the business at the end of each year for the next five years. At the end of the fifth year, Sam plans to sell the business for $110,000 cash. At a 12% discount rate, what is the net present value of the investment?

37. The immediate cash outflow required for this project would be:

38. The present value of all future operating cash inflows is closest to:

39. The present value of the net cash flows (all cash inflows less all cash outflows) occurring during year 4 is:

40. The present value of the net cash flows (all cash inflows less all cash outflows) occurring during year 6 is closest to:

ACCT 505 Week 8 Final Exam Version 3

1.Problem:

Sales $31,800

Purchases of direct materials 7,000

Direct labor 5,000

Work in process inventory, 1/1 800

Work in process inventory, 12/31 3,000

Finished goods inventory, 1/1 4,000

Finished goods inventory, 12/31 5,300

Accounts payable, 1/1 1,700

Accounts payable, 12/31 1,500

Direct materials inventory, 1/1 6,000

Direct materials inventory, 12/31 1,000

Indirect labor 600

Indirect materials used 500

Utilities expense, factory 1,900

Depreciation on factory equipment 3,500

Gross Margin _________________

2. Whichcosts will change with a decrease in activity within the relevant range?

3. An increase in the activity level within the relevant range results in:

4. The gross margin of Evans Retail Stores, Inc. for the first quarter is:

5. The contribution margin of Evans Retail Stores, Inc. for the first quarter is:
6. The total contribution margin decreases if sales volume remains the same and:
7. A company has provided the following data:

8. Wallace, Inc., prepared the following budgeted data based on a sales forecast of $6,000,000:

9. The following information pertains to Rica Company:

10. The variable expense per unit is:
11. The break-even point in sales dollars is:
12. An allocated portion of fixed manufacturing overhead is included in product costs under:
Absorption Variable

13. What is the unit product cost for the month under variable costing?

14. What is the unit product cost for the month under absorption costing?
15. What is the net income for the month under variable costing?

18. Avril Company makes collections on sales according to the following schedule:

19. A labor efficiency variance resulting from the use of poor quality materials should be charged to:

20. An unfavorable labor efficiency variance indicates that:

21. A favorable labor rate variance indicates that

22. The materials price variance for January is:

23. The materials quantity variance for January is:

24. The labor rate variance for January is:

25. The labor efficiency variance for January is:

26. How much is the residual income?

27. How much is the return on the investment?

28. One of the dangers of allocating common fixed costs to a product line is that such allocations can make the line appear less profitable than it really is.

29. In responsibility accounting, each segment in an organization should be charged with the costs for which it is responsible and over which it has control plus its share of common organizational costs.

30. Some managers believe that residual income is superior to return on investment as a means of measuring performance, since it encourages the manager to make investment decisions that are more consistent with the interests of the company as a whole.

31. The performance of the manager of Division A is measured by residual income. Which of the following would increase the manager's performance measure?

32. A segment of a business responsible for both revenues and expenses would be called:

33. The Northern Division of the Smith Company had average operating assets totaling $150,000 last year. If the minimum required rate of return is 12%, and if last year's net operating income at Northern was $20,000, then the residual income for Northern last year was:

34. Company A's residual income is:

35. investment (ROI) is:

36. Gata Co. plans to discontinue a department that has a $48,000 contribution margin and $96,000 of fixed costs. Of these fixed costs, $42,000 cannot be avoided. What would be the effect of this discontinuance on Gata's overall net operating income?

37. Pitkin Company produces a part used in the manufacture of one of its products. The unit product cost of the part is $33, computed as follows:

38. Some investment projects require that a company expand its working capital to service the greater volume of business that will be generated. Under the net present value method, the investment of working capital should be treated as

39. Which of the following capital budgeting techniques consider(s) cash flow over the entire life of the project?

40. The net present value of the project is closest to:

41. The payback period for the investment would be:

42. The net present value of this investment would be:

43. The Tse Manufacturing Company uses a job-order costing system and applies overhead to jobs using a predetermined overhead rate. The company closes any balance in the Manufacturing Overhead account to Cost of Goods Sold. During the year the company's Finished Goods inventory account was debited for $125,000 and credited for $110,000. The ending balance in the Finished Goods inventory account was $28,000. At the end of the year, manufacturing overhead was overapplied by $4,500. The balance in the Finished Goods inventory account at the beginning of the year was:
44. Matthias Corporation has provided data concerning the company's Manufacturing Overhead account for the month of May. Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $53,000 and the total of the credits to the account was $69,000. Which of the following statements is true?
45. Yoder Company uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month: What was the cost per equivalent unit for materials during the month?

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Smart Tutor
ECFX Market
Accounting Homework Help
Premium Solutions
Isabella K.
Smart Homework Helper
Writer Writer Name Offer Chat
Smart Tutor

ONLINE

Smart Tutor

I will provide you with the well organized and well research papers from different primary and secondary sources will write the content that will support your points.

$38 Chat With Writer
ECFX Market

ONLINE

ECFX Market

I will be delighted to work on your project. As an experienced writer, I can provide you top quality, well researched, concise and error-free work within your provided deadline at very reasonable prices.

$19 Chat With Writer
Accounting Homework Help

ONLINE

Accounting Homework Help

I am a PhD writer with 10 years of experience. I will be delivering high-quality, plagiarism-free work to you in the minimum amount of time. Waiting for your message.

$23 Chat With Writer
Premium Solutions

ONLINE

Premium Solutions

I am a PhD writer with 10 years of experience. I will be delivering high-quality, plagiarism-free work to you in the minimum amount of time. Waiting for your message.

$22 Chat With Writer
Isabella K.

ONLINE

Isabella K.

I have worked on wide variety of research papers including; Analytical research paper, Argumentative research paper, Interpretative research, experimental research etc.

$36 Chat With Writer
Smart Homework Helper

ONLINE

Smart Homework Helper

I am an experienced researcher here with master education. After reading your posting, I feel, you need an expert research writer to complete your project.Thank You

$44 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Agile documentation and planning template - What is the competitive advantage of smoothie king - Apa project management - Flexible budget template - Disclaimer for sports activities - Sleep deprivation speech outline - Bma australia trading docklands - Fm 2 0 intelligence operations - Ghost in the shell deaf mute - How to draw a space time diagram - Rebellion is as witchcraft - Mcmi iii validity scales - Thunder energies discovers invisible entities - Dred scott political cartoon - Laurier d2l - Database Project design - Authentic leadership self assessment questionnaire citation - Lateral lisp butterfly technique - Charter hall direct office fund unit price - What is the vascular shunt mechanism - Goldman sachs veterans internship program - Kobe bryant basketball poem - The account classification for notes payable is - Leadership style interview for a company's newsletter course hero - +91-8306951337 get your love back by vashikaran IN Ambattur - Starbucks barista espresso machine manual pdf - Week 4 dissc -5-832 - Tiger drylac series 68 - Discussion needed by friday @ 6pm - Ksc cleaners - Nursing care plan for cardiac patient - Six kingdoms of life characteristics - Nutrition real people real choices pdf - Answer 4 questions - What are action minutes - Math for economist - assigment - Rise of christianity timeline - Wk 5, HCS/341: DR 1 - Chemical reactions and equations lab report - Hastie tibshirani elements of statistical learning - Empirical formula of a hydrate lab answers - Week 10 assignment - 5 weightless shoulder isolation - Medion portable hard drive - Epistemology Assignment - Tigerair philippines web check in - Calisthenics 12 week program - Dq - Altered states full movie online free - Social psychology 9th edition by elliot aronson pdf - Analyzing the article some lessons from the assembly line - Hampshire street lighting faults - Tangent galvanometer earth's magnetic field - Clozapine dosage and titration chart - The Legal and Ethical Environment of Business(MGM365-2003B-06) - Benchmark - Comprehensive Early Reading Plan - Mgh pata case solution - Opuestos write an adjective with the opposite meaning. cerrado alegre ordenado sucio - Inuit in a 1922 film crossword - The market has a beta of - Coefficient of friction graph - Statistics - How to make a stem and leaf plot key - Criminological theories introduction evaluation and application 7th edition pdf - How to do a case study assignment - Cheerleader doing a toe touch - Irony in everyday use - Discussion - DB posts - Example of scholarly activity in nursing - Apn professional development plan - Sea monsters qld museum review - Phone book program implemented in c++ - Coles team member cover letter - Miller mood dulux exterior - Dansereau graen & haga 1975 - Ids desktop solution - Reply to my peer - Discussion thread 1 Asian Psych Pol Phil - Ib hl redox questions - What is energy in science grade 8 - Matthew john nursing home erina - Flawless fins foil foes - Technology for management - Download webgoat for kali linux - Sonny blues questions and answers - Oedipus rex short version - Ina assitalia insurance students - Lead and manage effective workplace relationships case study - Royal north shore hospital address - Ezra pound's rules of imagism - When the walls came tumbling down by trey ellis - Module 7 Project Deliverables: Kanban & Audit - Business Finance Discussion - A rectangular coil of wire 22.0 by 35.0 - The task of an organization is reflected in its - Research paper - Introduction to fire safety management - Provided under license from Skillworks Australia Pty Ltd. All rights reserved. This document and its contents are protected by Australian - Attendance monitoring and payroll system thesis