# Acct 346 Midterm Exam Solution 100% Correct Answers Essay

2827 Words May 7th, 2015 12 Pages
ACCT 346 Midterm Exam Solution 100% Correct Answers
Follow Link Below To Get Tutorial https://homeworklance.com/downloads/acct-346-midterm-exam-solution-100-correct-answers/ Description: (TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for (TCO 1) Which of the following costs does not change when the level of business activity changes? (TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? (TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, \$4,080; hourly labor
(TCO 3) Which of the following describes the differences between job-order and process costing? (TCO 3) The Blending Department began the period with 45,000 units. During the period the department received another 30,000 units from the prior department and completed 60,000 units during the period. The remaining units were 75% complete. How much are equivalent units in The Blending Department’s work in process inventory at the end of the period? TCO 3) Ranger Glass Company manufactures glass for French doors. At the start of May, 2,000 units were in-process. During May, 11,000 units were completed and 3,000 units were in process at the end of May. These in-process units were 90% complete with respect to material and 50% complete with respect to conversion costs. Other information is as follows:
Work in process, May 1:
Direct material \$36,000
Conversion costs \$45,000
Costs incurred during May:
Direct material \$186,000
Conversion costs \$255,000
How much is the cost per equivalent unit for direct materials? (TCO 4) Total costs were \$75,800 when 30,000 units were produced and \$95,800 when 40,000 units were produced. Use the high-low method to find the estimated total costs for a production level of 32,000 units.

ACCT 346 Midterm Exam Solution 100% Correct Answers

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