Preview

ACG 4341 REVIEW 1

Satisfactory Essays
Open Document
Open Document
6690 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
ACG 4341 REVIEW 1
ACG 4341 - Review Sheet – Test 1

Multiple Choice
Identify the choice that best completes the statement or answers the question.

____ 1. Which of the following defines variable cost behavior?

Total cost reaction to increase in activitya.b.c.d.a.b.c.d.Straight-linedepreciationa.b.c.d.a.b.c.d.a.b.c.d.Predictora.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.Producta.b.c.d.Directa.b.c.d.a.b.c.d.a.b.c.d.direct materiala.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.Raw material used in productionTotal manufacturing costs charged to production during the year (includes direct material, direct labor, and overhead equal to 60% of direct labor cost)Cost of goods available for saleSelling and Administrative expensesInventoriesRaw MaterialWork in ProcessFinished Goodsa.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.Raw Material InventoryWork in Process InventoryFinished Goods Inventorya.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.Inventories:Raw materialWork in processFinished goodsAdditional information for March:Raw material purchasedDirect labor payrollDirect labor rate per hourOverhead rate per direct labor houra.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.Actual direct materialsa.b.c.d.estimated overhead costsa.b.c.d.a.b.c.d.a.b.c.d.Variable componenta.b.c.d.a.b.c.d.a.b.c.d.in totala.b.c.d.in totala.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.Work in Processa.b.c.d.a.b.c.d.Overhead isa.b.c.d.Overhead isa.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.Low pointHigh pointa.b.c.d.MonthJanFebMarApra.b.c.d.For output of less than 200,000 units:For output of 200,000 units or more:a.b.c.d.a.b.c.d.MonthJunJulAugSeptOcta.b.c.d.a.b.c.d.Work in ProcessFinished GoodsCost of Goods SoldDirect LaborDirect Materiala.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.Month123456a.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d. Direct Costsa.b.c.d. Direct Costsa.b.c.d.JITInventorya.b.c.d.a.b.c.d.a.b.c.d.To measure demandsa.b.c.d.a.b.c.d.a.b.c.d.a.b.c.d.A batch costa.b.c.d.Product
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    JET Task 1
    • 3064 Words
    • 13 Pages

    JET Task 1

    Between years six and seven a strength in net sales is noted with an increased 33.3% totaling $1,495,000. The cost of goods from year six to seven was 31.82 %. Between years seven and eight the net sales of the CarbonLite was weak with a product decrease of 15% with a loss totaling $897,000. Yet again, between years six and seven a strength is noted in gross profit, increasing by 37.5%. The gross profit between years seven and eight decreased by 16.3% totaling $266,600. From this…

    • 3064 Words
    • 13 Pages
    Good Essays
    Read More
  • Powerful Essays

    Final Accounting
    • 1555 Words
    • 5 Pages

    Final Accounting

    As reflected in the Production Budget captured in Exhibit B below and included in the overall Peyton Approved budget worksheet included in Appendix A. First budgeted sales units for each month in the quarter was used to multiply with ratio to inventory future sales to compute budgeted ending inventory. The company stated that it was company's policy to have a given month's ending finished goods inventory to equal 70% of the next month's expected unit sales. Then, budgeted sales units of 18,000, 22,000 and 20,000 units are added to the budgeted ending inventory units of 15,400, 14,000 and 16,800 units for the month of July, August and September, respectively to arrive to required units to be produced of 33,400, 36,000 and 36,800 units for each respective months. Subsequently, beginning inventory is deducted from required…

    • 1555 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    Fontanez Week 2 Assignment
    • 681 Words
    • 5 Pages

    Fontanez Week 2 Assignment

    5) Cost of direct materials placed in production during January totaled $123,000. There were no indirect material r…

    • 681 Words
    • 5 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Acg 4325
    • 1547 Words
    • 7 Pages

    Acg 4325

    * Its ability to report profits and pay dividends depended entirely on its ability to report gains on land transactions. Without the $153 million of gains on real estate sales reported during 1986 and 1987, LS&L would have reported pretax losses totaling $8 million.…

    • 1547 Words
    • 7 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    wk 2 individual assignment
    • 408 Words
    • 4 Pages

    wk 2 individual assignment

    To record the costs incurred in coating department for producing 45,000 mat sets in the month of May…

    • 408 Words
    • 4 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Economics 101
    • 1678 Words
    • 4 Pages

    Economics 101

    7. At P’ in the diagram above, b inventories will be unitentionally increased, and the price…

    • 1678 Words
    • 4 Pages
    Powerful Essays
    Read More
  • Good Essays

    Loblaw Chapter 8
    • 4097 Words
    • 17 Pages

    Loblaw Chapter 8

    8.1 Estimate the amount of inventories that your company purchased and produced during the current year. (Hint: use the cost of sales equation.)…

    • 4097 Words
    • 17 Pages
    Good Essays
    Read More
  • Good Essays

    ISM 4220
    • 2410 Words
    • 10 Pages

    ISM 4220

    MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.…

    • 2410 Words
    • 10 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Dss Consulting
    • 480 Words
    • 2 Pages

    Dss Consulting

    Our consulting firm has exclusively prepared two profitable computer assembly production plans for your next 12 calendar months. We have meet your policy constraints, including workforce, inventory, overtime, hiring, firing, and demand. We have valuated all your cost including and find that these to plans have a very profitable outcome. According to the research of your financial records by your company managers, we find that your previous production plans have been inefficient. These drastic inefficiencies have resulted in loss of sales due to insufficient inventory or excessive inventory carrying cost due to overstocking. We have developed a production plan based on expected demand of microcomputers. We have also incorporated regular and overtime workforce levels in to the plans. According to your management, we have used units of computers as an aggregate measure of production capacity.…

    • 480 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Business Memo-Accounting
    • 459 Words
    • 2 Pages

    Business Memo-Accounting

    I created three scenarios to the original data case. In scenario 1, I make sales volume increased by 10%, compared with making sales volume fell by 10%, and it turns out that 10% increase in sales units also increase the production cost, direct-labor cost and manufacturing over-head. As well, 10% decrease in sales will cause decreases in the company’s cost. In scenario2, the company changes the policy of the end-of-month inventory. It is obvious that it almost make no changes in all of the three kinds of costs. So a new inventory policy can be carried out to not increasing the costs and at the same time meet the market needs. In scenario3, I assume that employee medical insurance increases 5 times and not install the new equipment. From the budget schedules, it shows us that the direct-labor cost increases fiercely, but the manufacturing cost remains the same level. It indicated that new equipment helps a lot decrease…

    • 459 Words
    • 2 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Federal Taxation Test Paper
    • 1139 Words
    • 5 Pages

    Federal Taxation Test Paper

    Rose, Inc., a qualifying § 501(c)(3) organization, incurs lobbying expenditures of $145,000 during the taxable year. Exempt purpose expenditures are $500,000. If Rose makes the election under § 501(h) to make lobbying expenditures on a limited basis, its tax liability resulting from the lobbying expenditures is:…

    • 1139 Words
    • 5 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Doc Essay
    • 904 Words
    • 4 Pages

    Doc Essay

    The Internet has changed the way the managers at Chick-fil-A communicate and develop relationships with their customers and their…

    • 904 Words
    • 4 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Monroe Clock Company
    • 431 Words
    • 4 Pages

    Monroe Clock Company

    Timing mechanismssame sequence of production steps ● Heavy duty- more machined parts instead of stamped parts Case Facts ● Cost ideas: Tom Grant – Controller $ 11.60 Frank Tyler - Sales Manager $ 6.30 ● 3 Cost Centers 1. Fabrication- punching,stamping and drilling 2. Machining- lathes,milling machines and grinders 3. Assembling How were these costs computed?…

    • 431 Words
    • 4 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Ll Bean
    • 1206 Words
    • 5 Pages

    Ll Bean

    This paper has adjusted the 5 problems that shown in this case. First paragraph is to adjust how L.L Bean uses the previous year’s demand to determine how many units of product to order. Second paragraph is to adjust how many units of item L.L Bean should purchase under the relationship between the item costs and revenues. Third paragraph is to adjust what information should Scott Sklar have in order to help him to forecast for a particular style of men’s shirt that is a new catalog item. Fourth paragraph is to adjust the method that Mark Fasold used in the case to solve the number of items purchased. Lastly, the final paragraph is to adjust the improvement that L.L Bean should do in forecast process.…

    • 1206 Words
    • 5 Pages
    Good Essays
    Read More
  • Good Essays

    Micoeconomics
    • 649 Words
    • 3 Pages

    Micoeconomics

    The quantity supplied for prices P(a), P(b), P(c), P(d) were calculated based on the MC’s of each type – if the price is below the MC of the firm, the firm would stop its production. The quantities to be supplied for each price level is like below:…

    • 649 Words
    • 3 Pages
    Good Essays
    Read More

Related Topics