ACCT 2301 FINAL EXAMINATION, VERSION #4 FALL 2026 1. If actual sales equal break-even sales a. the margin of safety is negative. b. the margin of safety is positive. c. It is impossible to say anything about the margin of safety. d. the margin of safety equals zero. e. the margin of safety is negative or positive. 2. At the beginning of the year, Kyla Inc. estimated that production overhead would be $880,000 and direct labor hours would be 220,000. At the end of the year, actual overhead was $920,600 and there were actually 230,000 direct labor hours. What is the amount of over- or underapplied production overhead? a. $600 underapplied b. $600 overapplied c. $200 underapplied d. $400 overapplied e. $800 underapplied 3. A direct cost a. can be easily and accurately traced to a product. b. is hard to trace. c. should never be assigned to a product. d. is unimportant. e. can never be assigned to products. Continues...
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