Exam (elaborations)
ACCT 526 FINAL EXAM PRACTICE QUESTIONS AND ANSWERS (100% PASS)
- Course
- Institution
ACCT 526 FINAL EXAM PRACTICE QUESTIONS AND ANSWERS (100% PASS)
[Show more]
Content preview
©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Saturday, August 3, 2024 7:34 AMWEST VIRGINIA UNIVERSIRTY- (WV) : 26506
ACCT 526 FINAL EXAM PRACTICE QUESTIONS AND
ANSWERS (100% PASS)
Overhead costs are assigned to production using an overhead application rate, whereas
no such application rate is used to assign the costs of direct materials and direct labor
to production. the reason for this difference in procedures is that: - ✔️✔️overhead is an
indirect cost which cannot be traced easily and directly to specific units of a product
an advantage of using regression analysis over the high low and scattergraph methods
is that - ✔️✔️regression analysis is a more precide approach than the high-low or
scattergraph methods
an example of a discretionary fixed cost is: - ✔️✔️management training
when comparing a traditional income statement to a contribution margin income
statement: - ✔️✔️net income will always be identical on both
syndeer corportation, which produces and sells a single product, recently experienced
an increase in fixed cost relating to depreciation on new equipment. if variable cost and
sales prices remain unchanged, what will happen to contribution margin and the break
even point? - ✔️✔️contribution margin will be unchanged and the break even point will
increase
1
, ©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Saturday, August 3, 2024 7:34 AM
WEST VIRGINIA UNIVERSIRTY- (WV) : 26506
a 45% contribution margin ratio means that: - ✔️✔️45% of the companys revenue is
available to cover fixed costs and to contribute towards the operating income
in a decision to retain or replace equipment, the book value of the old equipment is a: -
✔️✔️sunk cost
which of the following are risks of outsourcing the production of a part? - ✔️✔️all of these
are risks of outsourcing! (Unscheduled price increase, unreliable delivery, unpredictable
quality.)
if a plant is operating at full capacity and receives a one time opportunity to accept an
order at a special price below its usual price then: - ✔️✔️the order will likely be rejected
a job order cost system traces direct materials cost to a particular job by means of: -
✔️✔️material requisitions
in a manufacturing company, the cost of goods is equal to : - ✔️✔️the beginning inventory
of work increase of work in progress, plus total manufacturing costs, less the ending
inventory of work in progress
the flow of costs in job order costing: - ✔️✔️parallels the physical flow of materials as they
are converted into finished goods
in a job order cost system, the amount of overhead cost that has been applied to a job
that remains incomplete at the end of a period: - ✔️✔️is a part of the ending balance of
the work in process inventory account
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller OliviaWest. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81989 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now