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 chiefs need for| | Student Answer:| | arranging. | control. We will compose a custom exposition test on Tranquil Pastures or then again any comparable theme 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 proclamations with respect to fixed expenses is valid? | Student Answer:| | When creation increments, fixed expense per unit increments. | When creation diminishes, all out fixed costs decline. | When creation increments, fixed expense per unit diminishes. | When creation diminishes, complete 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 unfashionable 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 suppers will be created and sold: materials, $4,080; hourly work (variable), $5,200; lease (fixed), $1,700; devaluation, $800; and other fixed expenses, $600. Every fancy 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 delivery item to clients | the compensation of the leader of the organization | Instructor Explanation:| Chapter 2, Page 37| | Points Received:| 0 of 4 | Comments:| | 6. | Question ðÿ˜  (TCO 1) P roduct costs| | Student Answer:| | are additionally called fabricating costs. | are viewed as a benefit 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 an equalization in the Work in Process Inventory record of $62,000. At January 1, 2010, the parity was $55,000. Current assembling costs for the year are $292,000, and cost of merchandise sold is $284,000. What amount is cost of merchandise produced? | 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 fabricating overhead and work for August follow s: | Estimated| Actual| 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 acquired assembling overhead expenses of $300,000. Absolute overhead applied to employments 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 ventures would not probably use process costing? | Student Answer:| | oats | paints | beautifying agents | auto 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 division got another 30,000 units from the earlier office and finished 60,000 units during the period. The rest of the units were 75% finished. What amount are comparable 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 produces 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 hal f complete as for change costs. Other data is as per the following: Work in process, May 1:| | Direct material| $36,000| Conversion costs| $45,000| Costs caused during May:| | Direct material| $186,000| Conversion costs| $255,000| How much is the expense per comparable 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 complete expenses of $18,000 when 2,000 units are delivered and $26,000 when 5,200 units are created. During March, 4,000 units were delivered 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 overall revenue are:| | Student Answer:| | Selling cost per unit, variable expense per unit, and fixed expense per unit. | Total incomes, all out factor expenses, and all out fixed expense. | Selling cost per unit, variable expense per unit, and absolute fixed expenses. | Selling cost per unit, all out factor costs, 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 make back the initial 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 creates a solitary item that is sold for $85 per unit. On the off chance that variable expenses per unit are $26 and fixed costs complete $47,500, what number of units must Randy sell so as to acquire 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 contrastingly 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 pay articulation yet not on a full costing pay proclamation? | Student Answer:| | Sales | Gross edge | Net pay | Contribution edge | Instructor Explanation:| Chapter 5, Page 169| | Points Received:| 4 of 4 | Comments:| | 6 . | Question 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| likewise, 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 net gain 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) An allotment base| | Student An