ACCT 346 Week 3 Quiz 2 Versions

ACCT 346 Week 3 Quiz 2 Versions

1. Question : (TCO 2) Bubba’s Crawfish Processing Company uses a traditional overhead allocation based on direct labor hours. For the current year overhead is estimated at $2,250,000 and direct labor hours are budgeted at 415,000 hours. Actual overhead was $2,200,000 and actual direct labor hours worked were 422,000.

(a) Calculate the predetermined overhead rate.

(b) Calculate the overhead applied.

(c) Determine the amount of overhead that is over/underapplied
2. Question : (TCO 2) Thibodeaux Limousine Corporation is trying to determine a predetermined manufacturing overhead. Estimated overhead for the upcoming year is $776,000. Budgeted machine hours are 105,000 hours, and budgeted labor hours are 17,500 hours at a rate of $10.00 per hour. Compute the predetermined overhead rate based on:

(a) Direct labor dollars

(b) Direct labor hours

(c) Machine hours
3. Question : (TCO 1) List and briefly describe four of the five differences between managerial accounting and financial accounting.
4. Question : (TCO 2)The following information is available for Sappy’s Surgical Shears for the fiscal year ending December 31, 20XX. ……………..

Prepare a schedule of cost of goods manufactured.
5. Question: (TCO 2) Match each of the following six terms with the phrase that most closely describes it. Each answer below may be used only once.

______    1.     activity-based costing

______    2.     cost of goods available for sale

______    3.     period costs

______    4.     process costing system

______    5.     just-in-time system

______    6.     work in process
6. Question : (TCO 2) Far Out Ceramics makes custom macaroni tile and applies job-order costing. The following information relates to the fiscal year ending December 31, 20XX.
7. Question: (TCO 2) Match each of the six following terms with the phrase that most closely describes it. Each answer may be used only once.

_____                    1. Direct costs

_____                    2. Fixed costs

_____                    3. Incremental costs

_____                    4. Economic Resource Planning system

_____                    5. Noncontrollable costs

_____                    6. Opportunity costs
8. Question : (TCO 3) The Marinade Department began the period with 150,000 units. During the period the department received another 180,000 units from the prior department and at the end of the period 112,000 units remained which were 17% complete. How much are equivalent units in The Marinade Department’s work in process inventory at the end of the period?
9. Question: (TCO 3)  The Franc Zeppo Venture manufactures a product that goes through two processing departments.  Information relating to the activity in the first department during  April is given below :

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ACCT 346 Week 3 Quiz 2 Versions

Course Home Work, ACCT 346 Week 3 Quiz 2 Versions, Home Work Tutorials, Home Work Solutions, Home Work Essay, Home Work Questions.ACC 565 Wk 7 Assignment 3, ACC403 week 2 assignment, ACC565 Week 10, ACCT 212 (Financial Accounting),  ACCT 344 (Entire Course) – Devry, ACCT 344 Final Exam Latest 2014 – Devry,  ACCT 346 (Managerial Accounting), ACCT 346 Midterm Exam Updated DeVry, ACCT 504, ACCT 504 Week 8, ACCT 553, ART 101 Week 8, Ashford BUS 401, ASHFORD BUS 640, Ashford HIS 204, ASHFORD MAT 222 Week 3, BA 215 (Business Statistics), BA 215 All Assignments Week 1 -8 – Grantham, BA 225, BA 260, BA 265 (Business Law II), BA 265 (Business Law II) FINAL EXAM, BA 340 All Course Assignments, BA 340 Human Resource, BA 370 (Employment Law), BA 405 Multinational Management, BA 470 Week 3 – 5 – 6 – 7, BA 470 Entrepreneurship, BA350 Principles Of Finance, BIS 155 Final Exam – DeVry, BIS 220 Final Exam, BSOP 429, BSOP 434 Entire Course – Devry, BUS 303 Week 2, BUS 303 Week 3, BUS 303 Week 5, BUS 311 Business Law, BUS 330 Week 1, BUS 330 Week 3, BUS 330 Week 5, BUS 401 Week 4 DQ 1, BUS 401 Week 4 DQ 2, BUS 402 WEEK 4, BUS 405 (Principles of Investment), BUS 475, BUS 475 Final Exam 100 MCQS, BUS 475 Final Exam 600 MCQS, BUS 599 (STRAYER), BUS 599 Assignment, BUS 620 Week 4, BUS 640 Week 1, BUS499 Asignment 4, BUS508 Asignment 1, BUS499 Assignment 3.

ACCT 346 Week 3 Quiz 2 Versions