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ACCT 344 Final Exam Latest 2014 - Devry
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(TCO 2) Which cost is NOT a period cost? (Points : 5)
Lumber for furniture
Executive administrative assistant salary
Depreciation on sales staff's cars
Sales commission
Question 2.2.(TCO 2) Which product would use job-order costing? (Points : 5)
Ink pens
Custom boot maker
Soda pop
Horse saddles
Question 3.3.(TCO 3) As production occurs, materials, direct labor, and applied manufacturing overhead are recorded in (Points : 5)
cost of goods sold.
work-in-process.
materials.
finished goods.
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)
$300,000.
$150,000.
$60,000.
$0.
Question 5.5.(TCO 8) Which is a value-added activity?(Points : 5)
Moving
Inspection
Processing
Waiting
Question 6.6.(TCO 1) The break-even point is (Points : 5)
the volume of activity where all fixed costs are recovered.
where fixed costs equal total variable costs.
where total revenues equal total costs.
where total costs equal total contribution margin.
Question 7.7.(TCO 1) The Kringel Company provides the following information.
Sales (200,000 units) $500,000
Manufacturing costs
Variable $170,000
Fixed $30,000
Selling and administrative costs
Variable $80,000
Fixed $20,000
Which is the break-even point in units for Kringel? (Points : 5)
33,334 units
100,000 units
40,000 units
200,000 units
Question 8.8.(TCO 7) Which would be the most appropriate base for allocating the costs of the maintenance department?...