Acct 344 Final Exam Latest 2014 – Devry Essay

1200 Words Apr 29th, 2015 5 Pages
ACCT 344 FINAL EXAM LATEST 2014 – DEVRY

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ACCT 344 FINAL EXAM LATEST 2014 - DEVRY
(TCO 2) WHICH COST IS NOT A PERIOD COST? (POINTS : 5)
Lumber for furniture
Executive administrative assistant salary
Depreciation on sales staff's cars
Sales commission
Question 2.2.(TCO 2) Which product would use job-order costing? (Points : 5)
Ink pens
Custom boot maker
Soda pop
Horse saddles

Question 3.3.(TCO 3) As production occurs, materials, direct labor, and applied manufacturing overhead are recorded in (Points : 5) cost of goods sold. work-in-process. materials.
finished
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The following data have been collected for 2013 for its three departments.
Shoes Cosmetics Crafts
Sales $120,000 $100,000 $100,000
Direct advertising costs $9,000 $7,000 $4,000
Newspaper ad space 60% 20% 20%
How much of the indirect advertising costs will be allocated to the Cosmetics Department if newspaper ad space is the activity driver?(Points : 5)

$8,000
$1,600
$1,400
$6,400

Question 10.10.(TCO 5) Which best describes zero-base budgeting? (Points : 5)
A budget that is developed for a single level of activity
A budget that analyzes existing activities (and continuation of that activity must be justified and resources needed must be justified by each manager)
A budget that is based solely on prior period information, adjusted for inflation
A budget that is continuous or rolling

Question 11.11.(TCO 5) Bug Company manufactures buggies. Manufacturing a buggy takes 20 units of wood and 1 unit of steel. Scheduled production of buggies for the next 2 months is 500 and 600 units, respectively. Beginning inventory is 4,000 units of wood and 30 units of steel. The ending inventory of wood is planned to decrease 500 units in each of the next 2 months, and the steel inventory is expected to increase 5 units in each of the next 2 months.
How many units of wood are expected to be used in production during the

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