ACCT 346 Final Exam (Taken 2015)

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ACCT 346 Managerial Accounting - DeVry


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  1. Question (TCO 4) Assumptions underlying cost-volume-profit analysis include all of the following,..: (Points : 5)
  2. Question (TCO 6) Which of the following is true about activity-based costing? (Points : 5)
  3. Question (TCO 2) In a traditional job order cost system, the issue of direct materials to a production...: (Points : 5)
  4. Question (TCO 5) A cost driver is defined as: (Points : 5)
  5. Question (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.......? (Points : 5)
  6. Question (TCO 1) How does managerial and financial accounting differ in terms of the amount of detail presented and nonmonetary and monetary information? (Points : 25)
  7. Question (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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  1. Question (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 8,000 units in ending inventory. The transferred-in cost in the beginning inventory was $170,000...........……….What is the cost per equivalent unit for transferred-in cost? (Points : 25)
  2. Question (TCO 4) Assume that we are manufacturing a product and assume that the sales price per unit is $60 and the variable cost is $20 per unit and the fixed cost is $80,000; a) how many units would we need to sell to break even? b) How many units would we need to sell to earn a profit of $120,000? c) How many units do we need to sell to double that profit to $240,000? D) Why didn't the number of units double from Part B.....? (Points : 25) 
  3. Question (TCO 5) Sivan Co. manufactures and sells one product. For the year, they started with no opening inventory; produced 100,000 units, but only sold 70,000 units. The selling price per each unit is $60…(a) Prepare the Income Statement using Absorption Costing. (b) Prepare the Income Statement...... (Points : 25)
  4. Question (TCO 6) At Long Co. electricity cost starts with a minimum fixed cost, and after that, there is a perfectly variable expense. Using estimated machine hours:……………..What is the a) estimated variable cost per machine hour and what is the b) estimated TOTAL fixed cost? (Points : 25)
  5. Question (TCO 7) North Company produces a small part that it uses in the production of its Product H. The company's unit product cost for the part, based on a production of 100,000 parts per year, is as follows:…………100% of the traceable or avoidable fixed manufacturing cost is supervisor salaries and other costs that can be ELIMINATED if the parts are purchased.…….How much would profits increase or decrease as a result of purchasing the parts from theoutside supplier rather than making them inside the company? (Points : 25)
  6. Question (TCO 9) Harry Corp buys equipment for $224,888 that will last for 9 years. The equipment will generate cash flows of $36,000 per year…..(a) What is the Present Value (PV) of this investment (at 10%)? (b) What is the NET Present Value (NPV) of this investment?  If you need 10%, should you buy the equipment? (c) What is the Internal Rate of Return (IRR) of this investment? (d) What is the payback period? . (Points : 25)
  7. Question (TCO 10) Tanya Corp sells its products on both credit and cash basis. Monthly sales are sold 20% for cash, 80% for credit. Credit sales are collected 65% in the month of sale and 35% the following month. Sales for the first quarter are BUDGETED as follows: January $200,000; February $300,000; March $300,000. Compute cash collections Budgeted for February. How much cash was collected in the month? (Points : 25)
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    ACCT 346 Final Exam (Taken 2015)

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