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ACCT 505 All Weeks Discussions

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w1 dq1 Cost Terms, Classifications, and Behavior

w1 dq2 Research and Application

w2 dq1 Job Order and Process Costing Systems

w2 dq2 Research and Application

w3 dq1 Variable Costing and CVP Concepts

w3 dq2 Research and Application

w4 dq1 Budgeting Case Study

w4 dq2 Exam Review

w5 dq1 Standards, Variances, Flexible Budgets

w5 dq2 Research and Application

w6 dq1 Segment Reporting and Relevant Costs

w6 dq2 Research and Application

w7 dq1 Capital Budgeting

w7 dq2 Exam Review

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ACCT 505 Final Exam

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1. (TCO F) Buckhorn Corporation bases its predetermined overhead rate on the estimated machine hours for the upcoming year. Data for the upcoming year appear below. Estimated machine hours – 85,000 Estimated variable manufactruring overhead – $5.55 per machine hour Estimated total fixed manufacturing overhead – $951,888 Compute the company’s predetermined overhead rate.

2. (TCO F) Payment Inc. is preparing its cash budget for February. The budgeted beginning cash balance is $27,000. Budgeted cash receipts total $136,000 and budgeted cash disbursements total $128,000. The desired ending cash balance is $50,000. The company can borrow up to $110,000 at any time from a local bank, with interest not due until the following month.

3. (TCO C) Nic Saybin Enterprises Accounting Department collects all pertinent monthly operating data. Selected data is presented below for the current month. From the data provided, please provide Saybin Enterprises Management with a flexible budget analysis to see how costs were controlled

4. (TCO D) McMullen Co. manufactures automatic door openers. The company uses 15,000 electronic hinges per year as a component in the assembly of the openers. You have been engaged by McMullen to assist with an evaluation of whether the company should continue producing the hinges or purchase them from an outside vendor.

5. (TCO E) Topple Company produces a single product. Operating data for the company and its absorption costing income statement for the last year is presented below:

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

7. (TCO F) Carter 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:

8. (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:

(TCO B) Madlem, Inc., produces and sells a single product whose selling price is $240.00 per unit and whose variable expense is $86.40 per unit. The company’s fixed expense is $720,384 per month.

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ACCT 504 Week 4 Midterm Set 3

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ACCT 504 Week 4 Midterm Set 3

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ACCT 504 Week 4 Midterm Set 1

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ACCT 504 Week 4 Midterm Set 1

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ACCT 434 Week 4 Midterm Exam

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1. (TCO1) ABC systems create 2. (TCO 1) Merriam Company provides the following ABC costing information: How much of the account billing cost will be assigned to Department B?3. (TCO 2) A master budget 4. (TCO 2) Dalrymple Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $80,000. The budgeted number of nozzles to be inserted is 40,000. What is the budgeted indirect cost allocation rate for this activity? 5. (TCO 3) Which cost estimation method analyzes accounts in the subsidiary ledger as variable, fixed, or mixed using qualitative methods? 6. (TCO 4) In evaluating different alternatives, it is useful to concentrate on 7. (TCO 5) The theory of constraints is used for cost analysis when 8. (TCO 5) Schmidt Corporation produces a part that is used in the manufacture of one of its products. The costs associated with the production of 10,000 units of this part are as follows: 9. (TCO 3) The cost function + 10X 10. (TCO 4) Sunk costs1.Question :(TCO 1) For each of the following drivers identify an appropriate activity.a. # of machinesb. # of setupsc. # of inspectionsd. # of orderse. # of runsf. # of bins or aislesg. # of engineers2.Question :(TCO 2) Favata Company has the following information:Month Budgeted SalesJune $60,000July 51,000August 40,000September 70,000October 72,000In addition, the cost of goods sold rate is 70% and the desired inventory level is 30% of next month’s cost of sales.Prepare a purchases budget for July through September.3.Question :(TCO 3) Patrick Ross, the president of Ross’s Wild Game Company, has asked for information about the cost behavior of manufacturing overhead costs. Specifically, he wants to know how much overhead cost is fixed and how much is variable. The following data are the only records available:Month Machine-hours Overhead CostsFebruary 1,700 $20,500March 2,800 22,250April 1,000 19,950May 2,500 21,500June 3,500 23,950Using the high-low method, determine the overhead cost equation. Use machine-hours as your cost driver.4.Question :(TCO 5) Kirkland Company manufactures a part for use in its production of hats. When 10,000 items are produced, the costs per unit are:Direct materials $0.60Direct manufacturing labor 3.00Variable manufacturing overhead 1.20Fixed manufacturing overhead 1.60Total $6.40Mike Company has offered to sell to Kirkland Company 10,000 units of the part for $6.00 per unit. The plant facilities could be used to manufacture another item at a savings of $9,000 if Kirkland accepts the offer. In addition, $1.00 per unit of fixed manufacturing overhead on the original item would be eliminated.a. What is the relevant per unit cost for the original part?b. Which alternative is best for Kirkland Company? By how much?
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Calvin Smith's curator insight, November 23, 2014 10:34 PM

this is an interesting midterm

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ACCT 505 Week 4 Midterm Exam

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ACCT 505 Week 4 Midterm Exam

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ACCT 505 Entire Course

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Week 2 Quiz

Week 3 Case Study – Springfield Express

Week 4 Midterm

Week 6 Quiz

Course Project

All 7 Weeks Discussions

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ACCT 504 Week 4 Midterm Set 2

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ACCT 504 Week 4 Midterm Set 2

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ACCT 504 Entire Course Accounting Finance + Final Exam

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Week 3 – Case Study 1 – The Complete Accounting Cycle – Flower Landscaping Corporation)

Week 4 Midterm

Week 5 – Case Study 2 (Internal Control – LJB Company)

Week 6 – Case Study 3 (Cash Budgeting – Cambridge Company)

Week 7 – Course Project (A Comparative Analysis of Kohl’sCorporation and J.C. Penney Corporation)

All 7 Weeks Discussions

ACCT-504 Final Exam

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ACCT 434 Entire Course

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All Weeks Discussions

All 7 Weeks Homework ES

All Weeks Quizzes

Week 4 Mid Term

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