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ACCT 346 Midterm Exam Solutions

ACCT 346 Midterm Exam Solutions

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ACCT 346 Midterm Exam Solutions

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ACCT 346 Midterm Exam Solutions

1. Question : (TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for

2. Question : (TCO 1) Which of the following costs does not change when the level of business activity changes?

3. Question : (TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation?

4. Question : (TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. What is the budgeted fixed cost per unit?

5. Question : (TCO 1) Which of the following costs is not part of manufacturing overhead?

6. Question : (TCO 1) Product costs

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