ACC-350 Final Question and answers
already passed 2025
- correct answer ✔Which of the following is used to determine how the sales
revenue of a company has changed from one year to the next?
40% of previous month purchases / Budgeted purchases of direct materials -
correct answer ✔What is the amount of Accounts Payable that should be in
the budgeted balance sheet?
NPV - correct answer ✔
Sales revenue for product line F + Variable costs = - correct answer ✔A
company is deciding whether to drop product line F because it has an
operating loss. Assuming fixed costs are unavoidable, if company drops
product line F and does not replace it, what affect will this have on operating
income?
Property taxes on the factory - correct answer ✔Which of the following would
be considered a product cost for a manufacturing business?
5,860+102,000+27,820-2,870= 132810
193,800 - 132810 = A: 60,990 - correct answer ✔Work-in-Process Inventory,
Jan1
$5,860
Direct Materials Used
$102,000
Work-in-Process Inventory, Dec31
$2,870
, Cost of Goods Manufactured
$193,800
Assuming manufacturing overhead costs of $27,820, what is the amount of
direct labor incurred during the year?
160,,000 = .2857 = 28.57%
COGS / Nets Sales = Gross Profit - correct answer ✔A company provides
the following data from its income statement for 2017:
Net Sales $560,000
COGS ($160,000)
Gross Profit $400,000
What is the gross profit percentage?
False.
Accounting rate of return focuses on accrual-based income. - correct answer
✔Most capital budgeting methods focus on accrual-based income. T or F
1,600 - 960 = = $80 per direct labor hour
Sale price - Variable Costs = ____
___ / Direct Labor hours - correct answer ✔A small table sells for $1,000,
has variable costs of $560 per table, and takes 10 direct labor hours to
already passed 2025
- correct answer ✔Which of the following is used to determine how the sales
revenue of a company has changed from one year to the next?
40% of previous month purchases / Budgeted purchases of direct materials -
correct answer ✔What is the amount of Accounts Payable that should be in
the budgeted balance sheet?
NPV - correct answer ✔
Sales revenue for product line F + Variable costs = - correct answer ✔A
company is deciding whether to drop product line F because it has an
operating loss. Assuming fixed costs are unavoidable, if company drops
product line F and does not replace it, what affect will this have on operating
income?
Property taxes on the factory - correct answer ✔Which of the following would
be considered a product cost for a manufacturing business?
5,860+102,000+27,820-2,870= 132810
193,800 - 132810 = A: 60,990 - correct answer ✔Work-in-Process Inventory,
Jan1
$5,860
Direct Materials Used
$102,000
Work-in-Process Inventory, Dec31
$2,870
, Cost of Goods Manufactured
$193,800
Assuming manufacturing overhead costs of $27,820, what is the amount of
direct labor incurred during the year?
160,,000 = .2857 = 28.57%
COGS / Nets Sales = Gross Profit - correct answer ✔A company provides
the following data from its income statement for 2017:
Net Sales $560,000
COGS ($160,000)
Gross Profit $400,000
What is the gross profit percentage?
False.
Accounting rate of return focuses on accrual-based income. - correct answer
✔Most capital budgeting methods focus on accrual-based income. T or F
1,600 - 960 = = $80 per direct labor hour
Sale price - Variable Costs = ____
___ / Direct Labor hours - correct answer ✔A small table sells for $1,000,
has variable costs of $560 per table, and takes 10 direct labor hours to
