COB 242 PROFESSIONAL COMPETENCY ANALYSIS AHEAD VIEW UPDATED ACTUAL EXAM QUESTIONS

COB 242 PROFESSIONAL COMPETENCY ANALYSIS AHEAD VIEW UPDATED ACTUAL
EXAM QUESTIONS CORRECT ANSWERS GRADED A PLUS
COB 242 Professional Competency Analysis
2026/2027 Ahead VIEW Comprehensive Issues
WITH Findings Sector Guide Questions and Answers
Verified Solutions Latest Update

Question:
Operating leverage.

Answer:
a measure of how sensitive net operating income is to a given percentage change in dollar sales



Question:
If MOH has an ending balance on the debit side is MOH under- applied or over-applied?

Answer:
underapplied



Question:
If MOH has an ending balance on the credit side is MOH under- applied or over-applied?

Answer:
overapplied



Question:
What is the entry to close out under-applied MOH?

Answer:
COGS WHIP Finished goods inv MOH



Question:

, What is the entry to close out over-applied MOH?

Answer:
MOH COGS WHIP Finished goods inv



Question:
Why would overhead be over or under applied? (2).

Answer:
1) we did not accurately estimate the actual money amount of overhead 2) we did not accurately
estimate the actual level of the cost driver used to apply MOH



Question:
How does overhead get assigned to products? (4).

Answer:
1) estimate MOH at beg of the period 2) identify appropriate volume based on cost driver 3)
calculate predetermined overhead rate = estimated MOH costs/ estimated amt. cost driver activity 4)
apply to individual jobs or batches cost driver activity (job I) * PohR= MOH job i



Question:
Job order costing flow order:.

Answer:
DM DL MOH, WHIP, FG inv, COGS



Question:
What happens to total variable cost as activity level changes?

Answer:
total variable cost changes as activity level changes