AC 211 Final Exam Study Guide exam with complete solutions.
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Course
AC Express
Institution
AC Express
Horizontal Analysis
Finding the Change in $ amount and Change in % from one year to another
Vertical Analysis
Dividing each account by Sales Revenue in the Income Statement and finding the %, and dividing each account by Total Assets on the Balance Sheet and finding the %.
Previou...
AC 211 Final Exam Study Guide exam with
complete solutions
Horizontal Analysis - ANSWER- Finding the Change in $ amount and Change in %
from one year to another
Vertical Analysis - ANSWER- Dividing each account by Sales Revenue in the
Income Statement and finding the %, and dividing each account by Total Assets
on the Balance Sheet and finding the %.
Total Direct Labor Variance - ANSWER- Composed of Rate Variance and
Efficiency Variance
Total Direct Manufacturing Variance - ANSWER- Composed of Price Variance and
Quantity Manufactured Variance
DL Rate Variance - ANSWER- Actual hours(actual rate - standard expected rate)
DL Efficiency Variance - ANSWER- Standard Rate(Actual labor hours- Standard
labor hours)
DM Price Variance - ANSWER- Actual quantity purchased (Actual Price - Standard
Price)
DM Quantity Variance - ANSWER- Standard Price (Actual Quantity Sold -
Standard Quantity Sold)
MOH Variance - ANSWER- Composed of Budgeted Variance and Volume Variance
Working Capital - ANSWER- Current Assets- Current Liabilities
Current Ratio - ANSWER- Total Current Assets/Total Current Liabilities
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