Which the the adhering to items represents a differencebetween financial and also managerial accounting?A. Individuals of informationB. Flexibility of practiceC. Timeliness and also time measurement of details reportedD. Nature the informationE. Every one of these

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Costs that are incurred as component of the production processbut are not plainly associated with specific units that productor batches of production, consisting of all manufacturing costsother than straight material and also direct job costs, arecalled:A. Bureaucratic expensesB. Nonmanufacturing costsC. Sunk costsD. Factory overheadE. Preproduction costs
A addressed costA. Requires the future outlay of cash and also is relevant forfuture decision making.B. Go not change with alters in the volume that activitywithin the relevant range.C. Is directly traceable to a expense object.D. Changes with changes in the volume of activity within therelevant range.E. Has currently been incurred and cannot it is in avoided so that isirrelevant for decision making.
The three significant cost materials of a produced productareA. Marketing, selling and also administrative costs.B. Indirect labor, indirect materials, and miscellaneousfactory expenses.C. Straight materials, straight labor, and factory overhead.D. Differential costs, opportunity costs, and also sunk costs.E. General, selling and also administrative costs.
Period expenses for a manufacturing company would flowdirectly to:A. The current income statementB. Factory overheadC. The current balance sheetD. Job expense sheetE. The current manufacturing statement
A job order cost accounting system would ideal fit the needsof a company that makes:A. Shoes and apparelB. PaintC. CementD. Practice machineryE. Pencils and erasers
Canoe Company"s manufacturing bookkeeping system usesdirect labor hrs to use overhead to products in procedure andfinished goods inventories. Canoe Company"s manufacturingcosts because that the year were: straight labor, $300,000; directmaterials, $50,000; and also factory overhead applied, $60,000.They occurs 30,000 straight labor hours and also 10,000 indirectlabor hours throughout the year. The overhead application ratewas:A. $5.00B. $1.50C. $2.00D. $500.00E. $16.70MOHA = OH rate * yes, really Activity$60,000 = OH price * 30,000 DLHOH price = $60,000 / 30,000 DLHOH price = $2 per DLH
If overhead used is less than actual overhead, the is:A. Totally appliedB. UnderappliedC. OverappliedD. ExpectedE. Normal
The overhead cost applied to a job during a duration isrecorded with a credit transaction to manufacturing facility Overhead and a debit to:A. Task Overhead ExpenseB. Price of items SoldC. Finished goods InventoryD. Indirect LaborE. Occupational in process Inventory
The work in process Inventory for abdominal muscle Corp follows:debits creditsBeginning Balance 4,500Direct products 47,100Direct job 29,600 To finished goods:Manf Overhead applied 15,800 ???Ending balance 8,900The expense of units transferred to Finished goods isA. $97,000B. $105,900C. $88,100D. $95,200E. $92,5004500+47100+29600+15800-8900 = 88100
The following data have actually been recorded for recentlycompleted project 674 ~ above its job expense sheet. Straight Materialscost to be $2,039. A total of 32 DLHs and also 175 MHs wereworked on the job. The direct labor wage rate is $14 perlabor hour. The firm applied overhead top top the communication ofmachine hours. The predetermined overhead price is $15 permachine hour. The full cost that the job on that job expense sheetisA. $2,967B. $2,487C. $2,068D. $5,112Total Job price = DM + DL + MOH=$2039 + (32 DLH $14 every DLH) + ($15 every MH
175 MHs)=$5112
For i beg your pardon situation(s) below would an organization be morelikely to use a procedure costing system of quite than a joborder costing system?A. A plant the produces the "radials" in radial tires.B. A shop that restores old cars come showroom quality.C. A frame shop the takes tradition orders.D. A design company that designs practice outdoor kitchens
The Milling Department began the month through 35,000 devices inits start work in process inventory. An additional 472,000units were transferred in indigenous the front department throughout themonth to start processing in the Milling Department. Therewere 34,000 devices in the finishing work in process inventory of theMilling Department. How many units were transferred to thenext processing department throughout the month?A. 507,000B. 473,000C. 471,000D. 541,000Units C&T/O = devices in Beg WIP + Units began -Units in end WIPUnits C&T/O = 35,000 + 472,000 - 34,000 =473,000
For the current period, PencilCo started 15,000 devices andcompleted 10,000 units, leaving 5,000 units in procedure 30percent complete. How countless equivalent units ofproduction walk PencilCo have for the period?A. 10,000B. 11,500C. 1,500D. 15,00010,000 units + (5,000 systems × .30)= 11,500 tantamount units
Dean Corp provides the weighted-average an approach in its process costing system.Department 1, the first process, started the month with 19,000 units in itsbeginning job-related in process inventory that were 30% complete with respect toconversion costs. The conversion expense in this beginning work in procedure inventorywas $44,890. An additional 89,000 systems were started into production during themonth and also 84,000 devices were perfect in room 1 and transferred toDepartment 2. There to be 24,000 units in the ending work in procedure inventoryof department 1 the were 15% finish with respect come conversion costs. Atotal that $678,800 in conversion prices were incurred in the department during themonth.What is the expense per equivalent unit because that conversion expenses for the month?A. $8.261B. $6.257C. $8.449D. $7.627Step 2:Total EUs: end WIP (2400015%) + C&T/O (84000
100%)= 3600 EU + 84000 EU = 87,600 full EusStep 3:Total CC expenses = $44,890 Beg WIP + $678,800 included = $723,690Cost every EU = $723,690 total Costs / 87,600 total EusCost every EU -= $8.261 per EU
Trapp Corporation provides the weighted-average an approach in its procedure costingsystem. The start work in process inventory in its painting Departmentconsisted that 3,500 devices that were 70% complete with respect to materials and60% complete with respect come conversion costs. The price of the start workin procedure inventory in the department was tape-recorded as $20,000. Throughout theperiod, 11,500 systems were completed and transferred on come the nextdepartment. The costs per tantamount unit for the duration were $3.3 because that materialand $4.1 for conversion costs. The cost of units transferred out during themonth was:A. $73,715B. $66,240C. $86,400D. $85,10011,500 EU C&T/O * $3.30 / EU = $37,950 DM C&T/O+11,500 EU C&T/O * $4.10 / EU = $47,150 CC C&T/OTotal price C&T/O = $37,950+$47,150 = $85,100



Fundamentals of that company Finance11th EditionBradford D. Jordan, Randolph W. Westerfield, Stephen A. Ross
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Managerial accounting Midterm 1
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