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ACCT 344 Week 8 Final Exam New

ACCT 344 Week 8 Final Exam New

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Author: Christine Farr
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1. (TCO 2) Which cost is NOT a period cost? (Points : 5)
2. (TCO 2) Process costing would be most applicable for a (Points : 5)
3. (TCO 3) As production occurs, materials, direct labor, and applied manufacturing overhead are recorded in (Points : 5)
4. (TCO 8) A company keeps 30 days of materials inventory on hand to avoid shutdowns due to materials shortages. Carrying costs average $2,000 per day. A competitor keeps 15 days of inventory on hand, and the competitor's carrying costs average $1,000 per day. The value-added costs are (Points : 5)
5. (TCO 8) Non-value-added activities (Points : 5)
6. (TCO 1) The contribution margin at the break-even point (Points : 5)
7. (TCO 1) Sarah Smith, a sole proprietor, has the following projected figures for next year.

Selling price per unit $150.00
Contribution margin per unit $45.00
Total fixed costs $630,000

How many units must be sold to obtain a target before-tax profit of $270,000? (Points : 5)
8. (TCO 7) Which cost category would most likely use purchase orders as its activity driver? (Points : 5)
9. (TCO 7) Yo Department Store incurred $4,000 of indirect advertising costs for its operations. The following data have been collected for 2013 for its three departments.

Shoes Cosmetics Crafts 
Sales $160,000 $120,000 $120,000 
Direct advertising costs $7,000 $10,000 $3,000 
Newspaper ad space 62% 20% 18% 

How much of the indirect advertising costs will be allocated to the Shoes Department if newspaper ad space is the activity driver? Newspaper ad space (Points : 5)
10. (TCO 5) A flexible-based budgeting system (Points : 5)


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