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ACCT 344 Week 8 Final Exam New Set 2

ACCT 344 Week 8 Final Exam New Set 2

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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) Which product would use job-order costing? (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 60 days of materials inventory on hand to avoid shutdowns due to materials shortages. Carrying costs average $5,000 per day. A competitor keeps 30 days of inventory on hand, and the competitor's carrying costs average $2,000 per day. The value-added costs are (Points : 5)
5. (TCO 8) Which is a value-added activity? (Points : 5)
6. (TCO 1) The break-even point is (Points : 5)
7. (TCO 1) The Kringel Company provides the following information.

Sales (200,000 units) $500,000
Manufacturing costs
Variable $170,000
Fixed $30,000
Selling and administrative costs
Variable $80,000
Fixed $20,000 
Which is the break-even point in units for Kringel? (Points : 5)
8. (TCO 7) Which would be the most appropriate base for allocating the costs of the maintenance department? (Points : 5)
9. (TCO 7) Yo Department Store incurred $8,000 of indirect advertising costs for its operations. The following data have been collected for 2013 for its three departments.

Shoes

Cosmetics

Crafts

Sales

$120,000

$100,000

$100,000

Direct advertising costs

$9,000

$7,000

$4,000

Newspaper ad space

60%

20%

20%

How much of the indirect advertising costs will be allocated to the Cosmetics Department if newspaper ad space is the activity driver?(Points : 5)
10. (TCO 5) Which best describes zero-base budgeting? (Points : 5)


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