devry acct344 week 3 and week 5 quiz
1. Query : (TCO eight) A predetermined overhead price is calculated utilizing which method? Precise annual overhead / budgeted annual driver degree Budgeted annual overhead / budgeted annual driver degree Budgeted annual overhead / precise annual driver degree Precise annual overhead / precise annual driver degree 2. Query : (TCO eight) All the following are unit-based exercise drivers EXCEPT variety of setups. machine hours. variety of items. direct labor hours. three. Query : (TCO eight) A division that's capital intensive most definitely would use a predetermined departmental overhead price primarily based on which exercise base? Models of direct materials used Direct labor hours Direct labor price Machine hours four. Query : (TCO eight) Star Inc. makes use of a job-order costing system to account for product prices. The next data was supplied for the present 12 months. Supplies positioned in manufacturing $160,000 Oblique labor $50,000 Direct labor (10,000 hours) $180,000 Depreciation of manufacturing facility constructing $80,000 Different manufacturing facility overhead $130,000 Improve in work-in-process stock $45,000 Manufacturing facility overhead price per direct labor hour $25 Which is the quantity of under- or overapplied overhead for Star Inc.? $50,000 overapplied $10,000 overapplied $50,000 underapplied $10,000 underapplied 5. Query : (TCO eight) Acme Firm manufactures two merchandise (anvils and barrels). Overhead prices ($84,000) have been divided into three price swimming pools, which use the next exercise drivers. Product # of Setups Machine Hours Packing Orders Anvils 10 500 75 Barrels 10 2,000 175 Value per Pool $10,000 $60,000 $18,750 What's the allocation price for barrels per machine hours utilizing activity-based costing? $60,000 $24 $1,429 $30 6. Query : (TCO eight) Which is NOT a limitation of a plantwide overhead price? Product variety could eat overhead actions beneath differing consumption ratios. Overhead utilization just isn't strictly linked to the items produced as a result of some merchandise are extra advanced and numerous than others. Predetermined charges utilizing budgeted overhead are often one of the best estimate of the quantity of overhead. Overhead prices are usually underallocated to extremely advanced merchandise. : 7. Query : (TCO eight) The sources consumed by the exercise in producing its output are known as value-added actions. exercise outputs. driver analyses. exercise inputs. eight. Query : (TCO eight) Which is NOT a part of the fee dimension of the activity-based administration mannequin? Sources Driver evaluation Actions Value objects 9. Query : (TCO eight) Which is an instance of a non-value-added manufacturing exercise? Meeting Scheduling Ending All the above 10. Query : (TCO eight) The method that includes selecting amongst varied units of actions which can be attributable to competing methods is named exercise sharing. exercise choice. exercise elimination. exercise discount.week 51. Query : (TCO 7) A standard price happens when just one services or products is benefited. when completely different sources are used to provide one output. when the identical useful resource is used within the output of two or extra outputs. when a useful resource is utilized by two or extra corporations. 2. Query : (TCO 7) Which might be probably the most acceptable base for allocating the prices of the housekeeping division? Machine hours Direct labor hours Sq. ft Variety of workers three. Query : (TCO 7) The Ruling Firm assigns plant administration prices to the manufacturing departments primarily based on thenumber of workers. Which might NOT be a very good mixture of widespread prices with an exercise driver? Personnel division prices primarily based on variety of workers Buying division prices primarily based on machine hours Cafeteria prices primarily based on meals served Warehouse prices primarily based on the worth of supplies saved four. Query : (TCO 7) Joint prices are allotted due to monetary reporting necessities. tax reporting necessities. IMA necessities. Each A and B 5. Query : (TCO 7) Which methodology allocates assist division prices? Direct allocation methodology Reciprocal allocation methodology Sequential allocation methodology All the above 6. Query : (TCO 7) Joint prices are separable. allotted on the premise of cause-and-effect relationships. allotted arbitrarily. All the above 7. Query : (TCO 7) Which methodology allocates joint manufacturing prices primarily based on the kilos of product produced? Gross sales-value-at-split-off methodology Bodily items methodology Fixed gross margin share methodology Alternative price methodology eight. Query : (TCO 7) DeeDee Company manufactures the next merchandise in its manufacturing facility. $400,000 of prices had been incurred.Product Models Produced Weight per Unit (lb) Promoting Value per UnitA 2,500 10 $6B 5,000 eight $12C 7,500 6 $12D 10,000 four $6How a lot joint price could be allotted to Product A primarily based on the bodily items methodology? $40,000 $460,000 $66,667 $400,000 9. Query : (TCO 7) Sally Company manufactures 4 merchandise. The following information had been supplied by the fee accountant for the present 12 months.Product Models Produced Gross sales Worth at Cut up-OffJ 15,000 $10,000 Okay 9,000 $5,000 L 24,000 $6,000M 12,000 $9,000Complete Joint Processing Prices $24,000 Which is the quantity of joint prices assigned to Product L utilizing the sales-value-at-split-off methodology? $9,600 $24,000 $1,600 $four,800 10. Query : (TCO 7) Lamb Inc. processes wool into 4 grades of yarn as follows.Product Yards Produced Gross sales Worth at Cut up-OffMerino Wool 75,000 $56,250Wool Singles 200,000 $180,000Superwash Wool 100,000 $105,000Plied Wool 125,000 $127,500Complete Joint Processing Prices $300,000Which is the quantity of joint prices assigned to Superwash Wool utilizing the fixed gross margin share methodology? $300,000 $67,200 $37,800 $192,000