Get Best ACCT 346 Week 8 Final Exam
- Question: (TCO 6) Preparing purchase orders is a(n)
- Question: (TCO 4) When the activity level is expected to decrease within the relevant range, what effects would be anticipated with respect to each of the following?
- Question: (TCO 2) For which situation(s) below would an organization be more likely to use a job-order costing system of accumulating product costs rather than a process costing system?
- Question: (TCO 1) Which of the following is a fixed inventorial product cost?
- Question: (TCO 1) Which of the following IMA Statement of Ethical Professional Practice standards is violated if a managerial accountant steals property from his neighbor?
- Question: (TCO 1) Management accountants continually face ethical challenges as do all accountants. If a managerial accountant is unable to resolve an ethical dilemma following his or her company’s guidelines, what does the IMA Statement of Ethical Professional Practice recommend?
- Question: (TCO 10) (a) What is a standard cost (5 points)? (b) Provide an example of a manufacturing standard cost (5 points). (c) What is an ideal standard (5 points)? (d) What is a practical standard (5 points)? (e) Should ideal or practical standards be used (5 points)?
- Question: (TCO 2) Cindy Inc. estimates that its employees will utilize 125,000 machine hours during the coming year………. Actual machine hours are 120,000. Actual labor hours are 75,000. If Cindy Inc. allocates overhead based on machine hours, what is the predetermined manufacturing overhead rate?
- Question: (TCO 4) Simpson Company produces and sells a single product whose selling price is $90.00 per unit and whose variable expense is $40.50 per unit. The company’s fixed expense is $1,138,500 per month.
- What is the CM ratio (express your answer as a percentage to two decimal places)? (5 points)
- How many units must be sold to break even for the month? (10 points)
- How many units do we need to sell to earn a profit of $495,000 for the month? (10 points)
- Question: (TCO 3) XYZ Company uses process costing to track its costs in two sequential production departments: Forming and Finishing. The following information is … regarding the Forming department.
- Question: (TCO 5) Vernon Inc. manufactures and sells one product. Sales and production information is … below.
- Question: (TCO 8) Palmer Company manufactures and sells trophies for winners of athletic events. The company normally charges $60 per trophy…….
- Question: (TCO 7) Pearl Inc. makes 20,000 units per year of Part Y for use in one of its products. Pearl Inc. incurred the following manufacturing costs when producing the 20,000 units of Part Y.
- Question: (TCO 9) Melinda Corp buys equipment for $75,000 that will last for 5 years. The equipment will generate cash flows of $24,000 per year and will have no salvage value at the end of its life. Ignore taxes. Use 12% required rate of return.
- (a) What is the present value (PV) of this investment at 12%? (5 points)
- (b) What is the net present value (NPV) of this investment? Should Melinda Corp buy the equipment based on NPV? Justify your decision. (10 points)
- (c) What is the internal rate of return (IRR) of this investment? (5 points)
- (d) What is the payback period? (5 points)
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