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Accounting 202 Final Exam Questions and Answers 100% Solved
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Accounting 202 Final Exam Questions and Answers 100% Solved When activity based costing is used for internal decision making, the cost of idle capacity should be assigned to products. - False, it shouldn't be assigned. Which of the following statements is NOT correct concerning the cash budge...

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  • October 30, 2024
  • 26
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Accounting 202
  • Accounting 202

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©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
Accounting 202 Final Exam Questions

and Answers 100% Solved


When activity based costing is used for internal decision making, the cost

of idle capacity should be assigned to products. - ✔✔False, it shouldn't be

assigned.

Which of the following statements is NOT correct concerning the cash

budget?



a. It is not necessary to prepare any other budgets before preparing the

cash budget.

b. The cash budget should be prepared before the budgeted income

statement.

c. The cash budget should be prepared before the budgeted balance sheet.

d. The cash budget builds on earlier budgets and schedules as well as

additional data. - ✔✔a. It is not necessary to prepare any other budgets

before preparing the cash budget.

,©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
Hamitor Framing's cost formula for its supplies cost is $1,640 per month

plus $9 per frame. For the month of August, the company planned for

activity of 572 frames, but the actual level was 573 frames. The actual

supplies cost for the month was $7,080. The supplies cost in the planning

budget for August would be closest to:



a. $7,080

b. $7,068

c. $6,788

d. $6,797 - ✔✔c. $6,788



1,640 + (9 x 572) = $6,788

Using the ABC system, how much total MOH would be assigned to product

T05P?



Machining Machine Hours $180,000 9,000 MH's

Machine setups # of setups $125,000 250 setups

Product Design # of products $44,000 2 products

General Factory DLH's $260,000 10,000 DLH's

, ©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
a. $156,000

b. $303,000

c. $147,000

d. $304,500 - ✔✔b. $303,000



Machining 180,000/9,000 = 20 MH x 4,000 =

Machine setups 125,000/250 = 500 setups x 90

Product Setup 44,000/2 = 27,000 products x 1

General Factory 260,000/10,000 = 26 per DLH x 6 = $303,000

Elliot corporation makes and sells a single product. Last period the

company labor rate variance was $14,400 U. During the period, the

company worked 36,000 actual Direct Labor Hours at an actual cost of

$338,400. The standard labor rate for the product in dollars per hour is:



a. $9.40

b. $9.00

c. $8.50

d. $8.10 - ✔✔b. $9.00



$338,400 - 14,400 = 324,000

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