1. UOP ACC 349 Final Exam Guide (New 2018
with
Excel sheet) NEW
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Excel Sheet can be used for any change in values, it
automatically gives correct answers
1.
The following costs were incurred in September:
Direct materials $42,700 Direct labor $29,400
Manufacturing overhead $27,300
2. Selling expenses $23,600 Administrative
expenses $33,700 Conversion costs during
the month totaled:
2.
A soft drink bottler incurred the following factory
utility cost: $3,861 for 950 cases bottled and
$3,922 for 1,200 cases bottled. Factory utility cost
is a mixed cost containing both fixed and variable
components. The variable factory utility cost per
case bottled is closest to:
3
The following cost data pertain to the operations
of Swestka Department Stores, Inc., for the
month
of July.
Corporate headquarters building lease
$87,600
Cosmetics Department sales commissions--
Northridge Store $5,230
3. Corporate legal office salaries $60,500
Store manager's salary-Northridge Store
$17,200
Heating-Northridge Store $20,200 Cosmetics
Department cost of sales--Northridge
Store $37,400
Central warehouse lease cost $11,100
Store security-Northridge Store $18,900
Cosmetics Department manager's salary-
Northridge Store $4,150
The Northridge Store is just one of many
stores owned and operated by the company.
The Cosmetics Department is one of many
departments at the Northridge Store. The
central warehouse serves all of the company's
stores. What is the total amount of the costs
listed above that are direct costs of the
Cosmetics Department?
4
Erkkila Inc. reports that at an activity level of
6,400 machine-hours in a month, its total
variable inspection cost is $425,930 and its total
fixed inspection cost is $179,493.
4. What would be the average fixed inspection cost
per unit at an activity level of 6,700 machine-hours
in a month? Assume that this level of activity is
within the relevant range.
5.
Nikkel Corporation, a merchandising
company, reported the following results for
July:
Sales $407,000
Cost of goods sold (all variable) $173,400
Total variable selling expense $20,400 Total
fixed selling expense $22,200 Total variable
administrative expense
$14,800
Total fixed administrative expense $39,700
The contribution margin for July is:
6
Job 593 was recently
completed. The
following data have
been recorded on its
job cost sheet:
5. Direct materials $2,412 Direct labor-
hours 74 labor-hours Direct labor wage rate $
21 per
labor-hour
Machine-hours 137 machine-hours
The Corporation applies manufacturing
overhead on the basis of machine-hours. The
predetermined overhead rate is $22 per
machine-hour. The total cost that would be
recorded on the job cost sheet
for Job 593 would be:
7
The Assembly
Department started the
month with 19,500 units
in its beginning work in
process inventory. An
additional 285,000 units
were transferred in from
the prior department
during the month to
begin processing in the
Assembly Department.
There were 45,250 units
in the ending work in
process inventory of the
Assembly
How many units were transferred to the next
6. processing department during the month?
8
Lasseter Corporation has
provided its contribution
format income statement
for August. The company
produces and sells a
single product.
If the company sells 5,200 units, its total
contribution margin should be closest
to:
9
Olds Inc., which
produces a single
product, has provided
the following data for its
most recent
month of operations:
Number of units
produced 5,400 Variable
costs per unit:
Direct materials $88
Direct labor $79
Variable manufacturing
overhead $7 Variable
7. Fixed costs:
Fixed manufacturing overhead $210,600 Fixed
selling and administrative expense
$388,800
There were no beginning or ending
inventories. The absorption costing unit
product cost was:
10
Zurasky Corporation is
considering two
alternatives: A and B.
Costs associated with
the alternatives are
listed below:
Alternative A Alternative B
Materials costs $22,000
Processing costs $28,000
Equipment rental $10,100
Occupancy costs $10,500
$52,000
$28,000
$28,200
$22,000
What is the differential cost of Alternative B over
Alternative A, including all of the relevant costs?
11
8. Bossie Corporation uses an activity-based costing
system with three activity cost pools. The company
has provided the following data concerning its
costs and its activity based costing system:
Costs:
Wages and salaries
$284,000
Depreciation
268,000 Utilities
221,000 Total
$773,000
Distribution of resource consumption:
Activity Cost Pools
Assembly Setting up Other Total
Wages and salaries 45% 35% 20% 100%
Depreciation 30% 10% 60%
100% Utilities 15% 65% 20%
100%
How much cost, in total, would be allocated in the
first-stage allocation to the Assembly activity cost
pool?
12
9. The cash budget is usually prepared after
the budgeted income statement.
True
False
13
Cadavieco Detailing's cost formula for its
materials and supplies is $2,090 per month plus
$15 per vehicle. For the month of November, the
company planned for activity of 89 vehicles, but
the actual level of activity was 49 vehicles. The
actual materials and supplies for the month was
$2,660.
The materials and supplies in the planning budget
for November would be closest to:
Q-14
Aide Industries is a division of a major
corporation. Data concerning the most recent year
appears below:
Sales $18,120,000
10. Net operating income $1,177,800
Average operating assets $4,450,000
The division's return on investment (ROI)
is closest to: (Round your answer to 2
decimal
places.)
Q-15
Blue Corporation's standards call for 5,800 direct
labor-hours to produce 1,450 units of product.
During May 1,050 units were produced and the
company worked 1,350 direct labor-hours. The
standard hours allowed for May production would
be:
Q-16
The following standards for variable
manufacturing overhead have been established for
a company that makes only one product:
Standard hours per unit of output 6.0 hours
11. Standard variable overhead rate $12.40
per hour
The following data pertain to operations for the
last month:
Actual hours 2,600 hours Actual total variable
manufacturing overhead
cost $32,870
Actual output 250 units
What is the variable overhead efficiency variance
for the month?
What is the variable overhead efficiency variance
for the month?
17
Wyly Inc. produces and
sells a single product. The
selling price of the
product is $240.00 per
unit and its variable cost
is $88.80 per unit. The
fixed expense is $374,598
per month.
The break-even in
monthly dollar sales is
12. Use excel sheet for any change in values
18
Part O43 is used in one of
Scheetz Corporation's
products. The company's
Accounting Department
reports the following
costs of producing the
16,400 units of the part
that are needed every
year.
An outside supplier has offered to make the part
and sell it to the company for $32.00 each. If this
offer is accepted, the supervisor's salary and all of
the variable costs, including direct labor, can be
avoided. The special equipment used to make the
part was purchased many years ago and has no
salvage value or other use. The allocated general
overhead represents fixed costs of the entire
company. If the outside supplier's offer were
accepted, only $22,400 of these allocated general
overhead costs would be avoided.
Required:
a.
13. Prepare a report that shows the effect on the
company's total net operating income of buying
part O43 from the supplier rather than continuing
to make it inside the company. (Input the amount
as a positive value. Omit the "$" sign in your
response.)
Net operating income would decrease be by $ .
Make
19
Activity rates from Quattrone Corporation's
activity-based costing system are listed below. The
company uses the activity rates to assign overhead
costs to products:
Activity Cost Pools Activity Rate Processing
customer orders $94.07 per
customer order
Assembling products $2.87 per
assembly hour
Setting up batches $62.33 per batch Last year,
Product F76D involved 3 customer
14. orders, 464 assembly hours, and 21 batches. How
much overhead cost would be assigned to Product
F76D using the activity-based costing system?
20
The Gasson Company uses the weighted-average
method in its process costing system. The
company's ending work in process inventory
consists of 12,000 units, The ending work in
process inventory is 100% complete with respect
to materials and 70% complete with respect to
labor and overhead. If the costs per equivalent
unit for the period $4.10 for the materials and
$1.30 for labor and overhead, whatis the balance
of the ending work in process inventory account
would be: (Do not round Cost per equivalent unit)
