BUNDLE OF ACCT 202 EXAMS ALL WITH Questions with 100% Correct Verified Answers

4) O&G Company manufactures console tables and uses an activity−based costing system. Each console table consists of 30 separate parts totaling $250 in direct materials, and requires 5.0 hours of machine time to produce. Additional information follows: Activity - Allocation Base - Cost Allocati...

Kahn Company's static budget was based on sales volume of 12,000 units. Its flexible budget was based on sales volume of 14,000 units. Based on this information - the (variable cost) labor cost volume variance is expected to be unfavorable. Capilla Company experienced a favorable sales volume va...

What is the process of obtaining COST OF GOODS SOLD for a manufacturing company? - beginning finished goods inventory + cost of goods manufactured - ending finished goods inventory Calculation of cost of goods manufactured (COGM) - beginning WIP + total manufacturing costs = total cost of work i...

Which type of company typically produces its own inventory? -Manufacturer Before these materials are used to manufacture its cars, Toyota classifies steel, glass, and plastic as - raw materials inventory. Macy's (the department store chain) classifies its clothing held for sale as -merchandise i...

Pickett Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 80,000 subscriptions in January at $15 each. What entry is made in January to record the sale of the subscriptions? a) Subscriptions Receivable 200,000 Unearned Subscription Reven...

What type of cost is never relevant and should be disregarded when making decisions? a) sunk b) marginal c) incremental d) opportunity - a) sunk Selling and administrative costs are ______ costs. a) always direct b) always indirect c) direct or indirect - c) direct or indirect

What adjustment must be made when converting net income to net cash provided by operating activities using the indirect method? - increases in inventory and prepaid expenses must be deducted What is the primary purpose of the statement of cash flows? - to provide information about a company's c...