Acct 344 Final Exam Latest 2014 - Devry

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? (Points :...