Preview

Ac505 Midterm

Satisfactory Essays
Open Document
Open Document
576 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Ac505 Midterm
1. Question: (TCO A) Wages paid to a timekeeper in a factory are a: Your Answer:
Prime Cost YES.....Conversion Cost NO Prime Cost YES.....Conversion Cost YES Prime Cost NO....Conversion Cost NO Prime Cost NO.....Conversion Cost YES CORRECT

Instructor Explanation: Chapter 2 Points Received: 6 of 6
2. Question: (TCO A) A cost incurred in the past that is not relevant to any current decision is classified as a(n): Your Answer: period cost. opportunity cost. sunk cost. CORRECT differential cost.

Instructor Explanation: Chapter 2 Points Received: 6 of 6
3. Question: (TCO A) The cost of lubricants used to grease a production machine in a manufacturing company is an example of a(n): Your Answer: period cost direct material cost indirect manufacturing cost CORRECT direct labor cost none of the above

Instructor Explanation: Chapter 2 Points Received: 6 of 6
4. Question: (TCO A) When the activity level is expected to decline within the relevant range, what effects would be anticipated with respect to each of the following?
Fixed Cost Per Unit Variable Cost Per Unit Your Answer:
Increase No Change CORRECT Increase Increase No Change No Change No Change Increase

Instructor Explanation: Chapter 5 Points Received: 6 of 6
5. Question: (TCO F) When manufacturing overhead is applied to production, it is added to: Your Answer: the Cost of Goods Sold account the Raw Materials account the Work in Process account CORRECT ANSWER the Finished Goods inventory account INCORRECT

Instructor

You May Also Find These Documents Helpful

  • Good Essays

    Ac505 Project B

    • 901 Words
    • 4 Pages

    Clark Paints: The production department has been investigating possible ways to trim total production costs. One possibility currently being examined is to make the paint cans instead of purchasing them. The equipment needed would cost $200,000, with a disposal value of $40,000, and it would be able to produce 5,500,000 cans over the life of the machinery. The production department estimates that approximately 1,100,000 cans would be needed for each of the next five years.…

    • 901 Words
    • 4 Pages
    Good Essays
  • Better Essays

    Keller Fi 504 Midterm

    • 1720 Words
    • 7 Pages

    1. (TCO A, B, C) External users want answers to all of the following questions except: (Points : 3)…

    • 1720 Words
    • 7 Pages
    Better Essays
  • Satisfactory Essays

    Medical expenses are deductible to the extent they exceed 10% of AGI. Macy's AGI is $45,000, so her medical expense "floor" is $4,500 ($45,000 X .10). Therefore her deductible medical expenses are $3,856 ($8,356 - $4,500). ¶8065…

    • 381 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Ac553 Week 1 Assignment

    • 336 Words
    • 2 Pages

    Compute Marie's taxable income for 2012, assuming she is single and claims two dependent children. Her adjusted gross income is $70,000, and she has itemized deductions of $9,000.…

    • 336 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    A105 ASSIGNMENT 1

    • 1241 Words
    • 4 Pages

    References: cook, r., 2010. Review 2: The Hare with Amber eyes. unknown: the gardian newspaper.…

    • 1241 Words
    • 4 Pages
    Powerful Essays
  • Satisfactory Essays

    Acco 310 Midterm

    • 1559 Words
    • 7 Pages

    Which of the following criteria must be met before an event or item should be recorded for accounting purposes?…

    • 1559 Words
    • 7 Pages
    Satisfactory Essays
  • Powerful Essays

    Acct 550 Midterm

    • 1228 Words
    • 8 Pages

    These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below.…

    • 1228 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    ASTR 100 Midterm

    • 1523 Words
    • 7 Pages

    Full and new moon; 1st quarter and 3rd quarter; gibbous and crescent; waxing and waning…

    • 1523 Words
    • 7 Pages
    Good Essays
  • Satisfactory Essays

    Eco/550 Assignment 3

    • 519 Words
    • 3 Pages

    In my view there is no dominant strategy for either driver 1 or 2. There is no pure strategy instead there seems to be a mixed strategy for both drivers. If driver 1 chooses to go left, and if driver 2 also chooses left less chance for a collision, and the same is true with both drivers going to the right. On other hand if the drivers choose…

    • 519 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Healthcare companies, like ABC Healthcare, that operate as for-profit entities, are facing a multitude of challenges. The regulatory environment is becoming more restrictive, viruses and worms are growing more pervasive and damaging, and ABC Healthcare’s stakeholders are demanding more flexible access to their systems.…

    • 925 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    AOSC200 MIDTERM

    • 969 Words
    • 4 Pages

    What is the carbon dioxide and hydrologic cycles? What are the sources and sinks of each?…

    • 969 Words
    • 4 Pages
    Satisfactory Essays
  • Powerful Essays

    MGMT 520 Midterm

    • 11734 Words
    • 33 Pages

    (TCO I) Marianne Jennings wrote an article, “Why an International Code of Ethics would be good,” which was assigned to be read at the beginning of the course. As you have worked throughout this session, you should have considered this article and how it may or may not have impacted different situations in the world economic/business/legal/political environments. The essay you will write on the next question should show that you have read Marianne’s article and can apply her theories and thoughts from that article to the scenario provided. Feel free to rely on the information you know about the situations (if real) or analogize to one that is real, if you wish. Include in your answer at least two specific concepts from Marianne’s article, and apply those concepts to your reasoning in your answer. You will be graded on your knowledge of the article as well as the application of ethical theories to international situations. Arguably, the United States and other countries have been experiencing one of the longest and hardest hitting economic crises since the Great Depression over the last few years. This economic downturn is a result of multiple things, but the housing bubble burst was one major event that continues to ripple throughout the bank/lending world. As a result of the downturn in housing sales, foreclosures, bank lending overvaluations, and bank failures, lending practice changes and bank bailouts have become the norm.…

    • 11734 Words
    • 33 Pages
    Powerful Essays
  • Powerful Essays

    AIA105 Assignment Two

    • 1496 Words
    • 4 Pages

    If we attempt to define slaves or slavery we would conjure up notions of force, control, physical and psychological punishments brought on by a person or persons of higher authority. They are looked at and labelled as humans that are not worthy to be at the level of which their “masters” contain, thus the capability to provide physical force, poor nutrition and physical health and to justify it. Associating this stereotype of slavery to that of the convicts transported to Australia between 1788 and 1850, we could find many similarities. The past lives each individual lead, whether it be as a slave or a convict, can initially be perceived as degrading and a slow progress of deterioration of the mind and body. Once researching and finding more on each of the topics I was able to gain a clearer understand of both, enabling great comparison and debate.…

    • 1496 Words
    • 4 Pages
    Powerful Essays
  • Powerful Essays

    COM 100 Exam 1

    • 1961 Words
    • 9 Pages

    You will have 60 minutes to complete the exam from the time it is distributed. You will have ample time to read each test item carefully and respond to each test item thoughtfully. Test items are not intended to be tricky, but rather to assess the depth of your understanding.…

    • 1961 Words
    • 9 Pages
    Powerful Essays
  • Better Essays

    CNDV 5301 Assignment 2

    • 1030 Words
    • 3 Pages

    Question #1: As noted in the reading, Marcovitch et al. (1997) found relatively low rates of secure attachment among children adopted from Romanian orphanages and their adoptive mothers. Specifically, they found that 30% of the adopted children were securely attached, compared to 42% of a comparison sample of biologically related (raised at home) mother−child pairs. [Full reference: Marcovitch, S. G., Gold, A., Washington, J., Wasson, C., Krekewich, K., & Handley-Derry, M. (1997). Determinants of behavioral problems in Romanian children adopted in Ontario. International Journal of Behavioral Development, 20(1), 17–31.] Note, however, that the authors do not provide a comparison sample of children adopted at birth (i.e., noninstitutionalized). Does this finding reflect something about adoption in general, or does it reflect something about institutionalization of infants?…

    • 1030 Words
    • 3 Pages
    Better Essays

Related Topics