ACC 561 Final Exam – Fall 2018
Danner Corporation reported net sales of $650,000, $720,000, and $780,000 in the years 2016, 2017, and 2018,
... [Show More] respectively. If 2016 is the base year, what percentage do 2018 sales represent of the base?
Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department to be $660,000. The company produces 300,000 wheels and 600,000 seats each year. Each wheel uses 2 parts, and each seat uses 3 parts. How much of the assembly overhead should be allocated to wheels?
At September 1, 2017, Baxter Inc. reported Retained Earnings of $423,000. During the month, Baxter generated revenues of $60,000, incurred expenses of $36,000, purchased equipment for $15,000 and paid dividends of $6,000. What is the balance in Retained Earnings at September 30, 2017?
The entry to record the acquisition of raw materials on account is:
Financial and managerial accounting are similar in that both:
Which of the following is not an underlying assumption of CVP analysis?
Henson Company began the year with retained earnings of $380,000. During the year, the company recorded revenues of $500,000, expenses of $380,000, and paid dividends of $40,000. What was Henson’s retained earnings at the end of the year?
The Mac Company has four plants nationwide that cost $350 million. The current fair value of the plants is $300 million. The plants will be ……as assets at:
In performing a vertical analysis, the base for sales revenues on the income statement is: acc 561 final exam
Are advanced receipts from customers treated as revenue at the time of receipt? Why or why not?
Which of the following will not result in an unfavorable controllable margin difference
Which one of the following is an example of a period cost?
What is the primary difference between a static budget and a flexible budget?
Hollis Industries produces flash drives for computers, which it sells for $20 each. Each flash drive costs $13 of variable costs to make. During April, 1,000 drives were ……. Fixed costs for March were $2 per unit for a total of $1,000 for the month. How much is the contribution margin ratio?
Scorpion Production Company planned to use 1 yard of plastic per unit budgeted at $81 a yard. However, the plastic actually cost $80 per yard. acc 561 final exam The company actually made 3,900 units, although it had planned to make only 3,300 units. Total yards used for production were 3,960. How much is the total materials variance?
An activity-based overh [Show Less]