Acct 344 Week 8 Final Exam Essays

1737 Words Dec 16th, 2015 7 Pages
ACCT 344 Week 8 Final Exam

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Page 1
Question 1.1 (TCO 2) Which cost is NOT a period cost? (Points : 5)
Question 2.2. (TCO 2) Which product would use job-order costing? (Points : 5)
Question 3.3. (TCO 3) As production occurs, materials, direct labor, and applied manufacturing overhead are recorded in (Points : 5)
Question 4.4. (TCO 8) A company keeps 60 days of materials inventory on hand to avoid shutdowns due to materials shortages. Carrying costs average $5,000 per day. A competitor keeps 30 days of inventory on hand, and the competitor's carrying costs average $2,000 per day. The value-added costs are (Points : 5)
Question 5.5. (TCO 8)
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How many units of wood are expected to be used in production during the second month? (Points : 5)
Question 12.12. (TCO 4) Which statement is true? (Points : 5)
Question 13.13. (TCO 6) Using more highly skilled direct laborers might affect which variance? (Points : 5)
Question 14.14. (TCO 6) Which equation measures the total budget variance? (Points : 5)…………(TCO 1) George Corporation has an estimated monthly sales of 12,000 units for $80 per unit. Variable costs include manufacturing costs of $50 and distribution costs of $20. Fixed costs are $60,000 per month. Required: Determine each of the following values. a. Unit contribution margin b. Monthly break-even unit sales volume Create a contribution margin-based income statement. (Points : 30)

Page 2
Question 1.1. (TCO 1) George Corporation has an estimated monthly sales of 12,000 units for $80 per unit. Variable costs include manufacturing costs of $50 and distribution costs of $20. Fixed costs are $60,000 per month……Required: Determine each of the following values. a. Unit contribution margin b. Monthly break-even unit sales volume Create a contribution margin-based income statement. (Points : 30)
Question 2.2. (TCO 7) Darling Manufacturing Inc. manufactures two products, A and B, from a joint process. A single production costs $5,000 and results in 200 units of A

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