Acct 202 exam - Study guides, Class notes & Summaries
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ACCT 202 Exam Questions with 100% Correct Answers| Already Passed Grade A
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(4) Cabinets Unlimited uses departmental overhead rates to allocate its manufacturing overhead to 
jobs. The company has two departments: Assembly and Sanding. The Assembly Department uses 
a departmental overhead rate of $45 per machine hour, while the Sanding Department uses a 
departmental overhead rate of $25 per direct labor hour. Job 542 used the following direct labor 
hours and machine hours in the two departments: 
Actual results for the Assembly Department and Sanding Department 
Direc...
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ACCT 202 Exam 3 Questions with 100% Correct Answers| Already Passed Grade A
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ACCT 202 Exam 3 Questions with 100% Correct 
Answers| Already Passed Grade A 
what happens if no par value is issued for stated value - it becomes legal capital 
before transferring the ownership right in shares, the stockholder.... - does not need permission 
from anyone 
Paid-In Capital - The amount paid into the corporation by the stockholders in exchange for shares 
of ownership
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ACCT 202 Exam #1 Questions With Verified Answers
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ACCT 202 Exam #1 Questions With Verified Answers...
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ACCT 202 FINAL EXAM WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
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ACCT 202 FINAL EXAM 
ACCT 202 FINAL EXAM WITH GUARANTEED ACCURATE ANSWERS |VERIFIED 
 
 
Direct Material Costs - ACCURATE ANSWERAcquisition costs of all materials that eventually become part of the cost object (work in process and then finished goods), and that can be traced to the cost object in an economically feasible way. 
 
Direct Labor - ACCURATE ANSWERthe work of factory employees that can be physically and directly associated with converting raw materials into finished goods 
 
overhead...
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ACCT 2102 EXAM 1 QUESTIONS WITH CORRECT ANSWERS, 2024
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ACCT 2102 EXAM 1 QUESTIONS WITH CORRECT ANSWERS, 2024
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ACCT 202 Exam #3 Guide Questions with 100% Correct Answers| Already Passed Grade A
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Strategic planning focuses on - long-range decisions 
A plan that formalizes the overall goals and objectives of a company in financial terms is called a - 
master budget 
Pro forma statements are based on - estimates and predictions. 
Budgets are used - to communicate information across an organization; to plan the future 
activities of a business, and as a tool in performance evaluation
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ACCT 202 Actual Exam Questions with 100% Correct Answers| Already Passed Grade A
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ACCT 202 Actual Exam Questions with 100% 
Correct Answers| Already Passed Grade A 
Planning involves which of the following activities? -Setting goals and objectives for the company 
Which of the following is being fulfilled when management compares the budget to actual results? - 
Controlling 
When management uses feedback to take corrective action on the budgets, which of the following 
management responsibilities are being fulfilled? -Controlling 
Which one of the following items is not one o...
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ACCT 202 Exam II Questions with 100% Correct Answers| Already Passed Grade A
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Which of the following is a focus of managerial accounting? - to provide information to business 
managers to assist them in controlling their businesses 
Managerial accounting focuses on providing information for internal planning and control. - True 
The cost of direct materials cannot easily be traced to the manufactured product, and therefore, it is a 
component of manufacturing overhead. - False 
Manufacturing overhead includes all manufacturing costs, such as direct labor and direct materi...
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ACCT 202 Exam Questions with 100% Correct Answers| Already Passed Grade A
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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 Allocation Rate Materials 
handling - Number of parts - $2.00 per part Machining - 
Machine hours - $4.70 per machine hour Assembling - 
Number of parts - $3.00 per part Packaging - Number of 
finished units ...
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ACCT 202 Exam II Questions with 100% Correct Answers| Already Passed Grade A
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Which of the following is a focus of managerial accounting? - to provide information to 
business managers to assist them in controlling their businesses 
Managerial accounting focuses on providing information for internal planning and control. - True 
The cost of direct materials cannot easily be traced to the manufactured product, and therefore, it is a 
component of manufacturing overhead. - False
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