Acct 346 Week 8 Final Exam

ACCT 346 Week 8 Final Exam

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Page 1

1. (TCO 1) A difference between actual costs and planned costs (Points : 4)

2. (TCO 1) Which of the following is not likely to be a fixed cost? (Points : 4)

3. (TCO 2) Which of the following is not a manufacturing cost? (Points : 4)

4. (TCO 2) A job-order costing system is likely used by a (Points : 4)

5. (TCO 3) Equivalent units are calculated by (Points : 4)

6. (TCO 3) The Freedom Corporation’s painting department had a beginning inventory of 580 units, which had direct material costs of $22,715. During June, 9,290 units were started and costs of $1,268,085 were incurred for direct material. Ending inventory consists of 1,000 units, which are 35% complete with respect to direct material. What is the cost per equivalent unit for direct material? (Points : 4)

7. (TCO 4) Which of the following is not an assumption of C-V-P analysis? (Points : 4)

8. (TCO 4) The contribution margin per unit is the difference between (Points : 4)

9. (TCO 5) Full costing (Points : 4)

10. (TCO 5) Which of the following is not true when units sold exceed units produced? (Points : 4)

11. (TCO 6) Cost-plus contracts are common in which of the following industries? (Points : 4)

12. (TCO 6) Which of the following is not generally true when a company compares ABC and traditional costing? (Points : 4)

13. (TCO 7) Fixed costs that will be eliminated if a particular course of action is undertaken are called (Points : 4)

Page 2

1. (TCO 7) Two or more products that result from common inputs are called (Points : 4)

2. (TCO 8) Activity based pricing seeks to (Points : 4)

3. (TCO 8) When deciding to accept or reject a special order, which of the following costs would most likely not be relevant? (Points : 4)

4. (TCO 9) Present value techniques (Points : 4)

5. (TCO 9) The internal rate of return (Points : 4)

6. (TCO 10) A method of...