{"id":201297,"date":"2018-09-13T22:31:30","date_gmt":"2018-09-13T22:31:30","guid":{"rendered":"http:\/\/localhost\/wordpress\/index.php\/2018\/09\/13\/acct-505-final-exam-guide-new-set-3\/"},"modified":"2018-10-24T09:08:08","modified_gmt":"2018-10-24T09:08:08","slug":"acct-505-final-exam-guide-new-set-3","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/acct-505-final-exam-guide-new-set-3\/","title":{"rendered":"ACCT 505 Final Exam Guide (New) Set 3"},"content":{"rendered":"<p>(TCO\u00a0E)\u00a0Preparing\u00a0purchase\u00a0orders\u00a0is\u00a0a(n)\u00a0(Points\u00a0:\u00a05)\u00a0\t \ufffd\u00a0\u00a0\u00a0batch-level\u00a0activity.\t \ufffd\u00a0\u00a0\u00a0product-level\u00a0activity.\t \ufffd\u00a0\u00a0\u00a0unit-level\u00a0activity.\t 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\u00a0\t\u00a0\tActual\u00a0Costs\u00a0Incurred Static\u00a0Budget\tActivity\u00a0level\u00a0(in\u00a0units) 5,250 5,178\t\u00a0 \u00a0\u00a0 \u00a0\u00a0\tVariable\u00a0costs: \u00a0\u00a0 \u00a0\u00a0\t \ufffdIndirect\u00a0materials $24,182 $23,476\t \ufffdUtilities $22,356 $22,674\tFixed\u00a0costs:\u00a0 \u00a0\u00a0 \u00a0\u00a0\t \ufffdAdministration $63,450 $65,500\t \ufffdRent $65,317\u00a0 $63,904\t(Points\u00a0:\u00a025)\t\u00a0\t\u00a0\t\u00a0\t10.\u00a0\u00a0(TCO\u00a0H)\u00a0Lindon\u00a0Company\u00a0uses\u00a010,000\u00a0units\u00a0of\u00a0Part\u00a0Y\u00a0each\u00a0year\u00a0as\u00a0a\u00a0component\u00a0in\u00a0the\u00a0assembly\u00a0of\u00a0one\u00a0of\u00a0its\u00a0products.\u00a0The\u00a0company\u00a0is\u00a0presently\u00a0producing\u00a0Part\u00a0Y\u00a0internally\u00a0at\u00a0a\u00a0total\u00a0cost\u00a0of\u00a0$100,000\u00a0as\u00a0follows.\u00a0\tDirect\u00a0materials&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;..\u00a0$20,000\tDirect\u00a0labor&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;\u00a040,000\tVariable\u00a0manufacturing\u00a0overhead&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.\u00a0\u00a0\u00a016,000\tFixed\u00a0manufacturing\u00a0overhead&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;..\u00a0\u00a0\u00a0\u00a0\t24,000\tTotal\u00a0costs&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.100,000\tAn\u00a0outside\u00a0supplier\u00a0has\u00a0offered\u00a0to\u00a0provide\u00a0Part\u00a0Y\u00a0at\u00a0a\u00a0price\u00a0of\u00a0$10\u00a0per\u00a0unit.\u00a0If\u00a0Lindon\u00a0stops\u00a0producing\u00a0the\u00a0part\u00a0internally,\u00a0one\u00a0third\u00a0of\u00a0the\u00a0fixed\u00a0manufacturing\u00a0overhead\u00a0would\u00a0be\u00a0eliminated.\t\u00a0\t\u00a0\t11.\u00a0(TCO\u00a0B)\u00a0Wahr\u00a0Corporation\u00a0bases\u00a0its\u00a0predetermined\u00a0overhead\u00a0rate\u00a0on\u00a0the\u00a0estimated\u00a0labor\u00a0hours\u00a0for\u00a0the\u00a0upcoming\u00a0year.\u00a0At\u00a0the\u00a0beginning\u00a0of\u00a0the\u00a0most\u00a0recently\u00a0completed\u00a0year,\u00a0the\u00a0company\u00a0estimated\u00a0the\u00a0labor\u00a0hours\u00a0for\u00a0the\u00a0upcoming\u00a0year\u00a0at\u00a035,000.\u00a0The\u00a0estimated\u00a0variable\u00a0manufacturing\u00a0overhead\u00a0was\u00a0$7.25\u00a0per\u00a0labor\u00a0hour\u00a0and\u00a0the\u00a0estimated\u00a0total\u00a0fixed\u00a0manufacturing\u00a0overhead\u00a0was\u00a0$585,000.\u00a0The\u00a0actual\u00a0labor\u00a0hours\u00a0for\u00a0the\u00a0year\u00a0turned\u00a0out\u00a0to\u00a0be\u00a033,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(TCO\u00a0E)\u00a0Preparing\u00a0purchase\u00a0orders\u00a0is\u00a0a(n)\u00a0(Points\u00a0:\u00a05)\u00a0 \ufffd\u00a0\u00a0\u00a0batch-level\u00a0activity. \ufffd\u00a0\u00a0\u00a0product-level\u00a0activity. \ufffd\u00a0\u00a0\u00a0unit-level\u00a0activity. \ufffd\u00a0\u00a0\u00a0organization\u00a0sustaining\u00a0activity.\u00a0 \u00a0 \u00a0\u00a0\u00a0\u00a0 2.\u00a0(TCO\u00a0G)\u00a0Given\u00a0the\u00a0following\u00a0data,\u00a0what\u00a0would\u00a0ROI\u00a0be?\u00a0 Sales\u00a0 $70,000\u00a0 Net\u00a0operating\u00a0income\u00a0 $10,000\u00a0 Contribution\u00a0margin\u00a0 $20,000\u00a0 Average\u00a0operating\u00a0assets\u00a0 $50,000\u00a0 Stockholder&#8217;s\u00a0equity\u00a0 $25,000\u00a0 (Points\u00a0:\u00a05)\u00a0 \ufffd\u00a0\u00a0\u00a028.6% \ufffd\u00a0\u00a0\u00a020.0% \ufffd\u00a0\u00a0\u00a040.0% \ufffd\u00a0\u00a0\u00a050.0% \u00a0 \u00a0 3.\u00a0(TCO\u00a0C)\u00a0Heckaman\u00a0Corporation\u00a0produces\u00a0and\u00a0sells\u00a0a\u00a0single\u00a0product.\u00a0Data\u00a0concerning\u00a0that\u00a0product\u00a0appear\u00a0below.\u00a0 Selling\u00a0price\u00a0per\u00a0unit $115.00\u00a0 Variable\u00a0expense\u00a0per\u00a0unit $56.35\u00a0 Fixed\u00a0expense\u00a0per\u00a0month $299,115\u00a0 \u00a0 \u00a0 4.\u00a0TCO\u00a0B)\u00a0Industrial\u00a0Supply\u00a0Corporation\u00a0uses\u00a0the\u00a0weighted-average\u00a0method\u00a0in\u00a0its\u00a0process\u00a0costing\u00a0system.\u00a0Data\u00a0concerning\u00a0the\u00a0first\u00a0processing\u00a0department\u00a0for\u00a0the\u00a0most\u00a0recent\u00a0month\u00a0are\u00a0listed\u00a0below.\u00a0 Work\u00a0in\u00a0process,\u00a0beginning: \u00a0 \u00a0\u00a0Units\u00a0in\u00a0beginning\u00a0work\u00a0in\u00a0process\u00a0inventory\u00a0 400 \u00a0\u00a0Materials\u00a0costs\u00a0 <a href=\"https:\/\/www.benedictsol.com\/blogs\/acct-505-final-exam-guide-new-set-3\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-201297","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/201297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=201297"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/201297\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=201297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=201297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=201297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}