Exam (elaborations)
acc260 final exam questions with verified solutions 2024/2025
- Course
- Institution
acc260 final exam questions with verified solutions 2024/2025
[Show more]
Content preview
acc260 final examSpecial pricing orders increase operating income if the special price exceeds the
differential costs of filing the special order. - ANStrue
a diagram that shows the relationship between departments and divisions, and the
managers that are responsible for each section is called a(n) - ANSorganizational chart
a company is analyzing its month-end results by comparing it to both static and flexible
budgets. during the month, the actual variable costs per unit were lower than the
expected variable costs per unit as per the static budget. this difference results in a(n) -
ANSfavorable flexible budget variance for variable costs
Tomo inc. has prepared its third quarter budget and provided the following data.
july
cash collections 50000
cash payments
purchases of direct materials 31000
operating expenses 12200
capital expenditures 13600
aug
39900
22000
8700
24300
sep
46000
17500
11300
0
The cash balance on june 30 is projected to be 4500. the company has to maintain a
cash balance of 5000, and can borrow increments of 5000 and pay interest of 5%
annual. all transactions done at the end of the month. balance should be repaid in
increments of 5000 when there is surplus cash. calculate the final projected cash
balance at the end of august taking into consideration all transactions -
ANS4500+5000=9500
9500+50000-31000-12200-13600=2700
2700+5000=7700
, 5000*0.05=250/12=20.83=21
7700-21=7679
7679+39900-22000-8700-24300=-7421
-7421-21=-7442
5000*3=15000 loans
-7442+15000=7558
the sales budget is considered the cornerstone of the master budget because - ANSthe
level of sales affects almost all of the other elements of the master budget
blythe company has provided the following information
sales price per unit 40
variable cost per unit 18
fixed costs per month 12800
what is the amount of sales in dollars required for blythe to break even? round any % to
two decimals, and final answer to nearest dollar - ANS12800/((40-18)/40)
12800/(22/40)
12800/0.55=23272.72=23273
mcleod inc. incurred fixed costs of 400,000. total costs, both fixed and variable, are
550,000 when 58000 units are produced. it sold 37000 units during the year. calculate
the variable cost per unit. round to nearest cent. - ANS550,000-400,000=150,000
150,000/58,000=2.5862=2.59
online financial databases provide data on companies which allows investors to
compare the companies' future earnings - ANSfalse
the trend analysis report of poplar inc is given below in millions.
2019
net income 700
trend % 174
2018
$606
151%
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 Legitexams. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82191 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now