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ACCT 346 Week 8 Final Exam New

ACCT 346 Week 8 Final Exam New

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Author: Christine Farr
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1. (TCO 4) Assumptions underlying cost-volume-profit analysis include all of the following, except: (Points : 5)
2. (TCO 6) Which of the following is true about activity-based costing? (Points : 5)
3. (TCO 2) In a traditional job order cost system, the use of direct labor on jobs increases: (Points : 5)
4. (TCO5) Cost drivers are NOT: (Points : 5)
5. (TCO 8) Clay Co. has considerable excess manufacturing capacity. A special job order's cost sheet includes the following applied manufacturing overhead costs:
Fixed costs: 21,000
Variable costs: 33,000
The fixed costs include a normal $3,700 allocation for in-house design costs, although no in-house design will be done. Instead, the job will require the use of external designers costing $7,750. What is the total amount to be included in the calculation to determine the minimum acceptable price for the job? (Points : 5)
6. (TCO 1) Who are the users of managerial accounting information? How does their use of accounting information differ from the users of financial accounting information?(Points : 25)
7. (TCO 2) Wolf Co. estimates
that its employees will work 400,000 direct labor hours during the coming year. Total overhead costs are estimated to be $9,600,000 and direct labor costs are estimated to be $12,500,000. Direct Labor hours are actually 450,000. 



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