ACC 349 (ACC 349)

ACC 349 - Week 5 Final Exam. Questions with Answers. Complete Solutions Guide. 1 Luca Company overapplied manufacturing overhead during 2006. Which one of the following is part of the year end entry to dispose of the overapplied amount assuming the amount is material?  An increase to finished goods  A decrease to applied overhead  An increase to cost of goods sold  A decrease to work in process inventory 2 An activity that has a direct cause-effect relationship with th...

I. Which of the following represents the correct order in which inventories are reported on a manufacturer’s balance sheet? A. Work in process, finished goods raw materials B. RAW MATERIALS, WORK IN PROCESS, FINISHED GOODS C. Finished goods, work in process, raw materials D. Work in process, raw materials, finished goods II. In traditional costing systems, overhead is generally applied based on A. machine hours B. DIRECT LABOR C. direct material dollars D. units of production ...

ACC 349 Final Exam-Latest Update-1) What is the best way to handle manufacturing overhead costs in order to get the most timely job cost information? A. The company should add actual manufacturing overhead costs to jobs as soon as the overhead costs are incurred. B. The company should determine an allocation rate as soon as the actual costs are known, and then apply manufacturing overhead to jobs. C. The company should apply overhead using an estimated rate throughout the year. ...

1) What is the best way to handle manufacturing overhead costs in order to get the most timely job cost information? A. The company should add actual manufacturing overhead costs to jobs as soon as the overhead costs are incurred. B. The company should determine an allocation rate as soon as the actual costs are known, and then apply manufacturing overhead to jobs. C. The company should account for only the direct production costs. D. The company should apply overhead using an estimated rate th...

Luca Company overapplied manufacturing overhead during 2006. Which one of the following is part of the year end entry to dispose of the overapplied amount assuming the amount is material? An activity that has a direct cause-effect relationship with the resources consumed is a(n) Max Company uses 10, 000 units of Part A in producing its products. A supplier offers to make Part A for $7. Max Company has relevant costs of $8 a unit to manufacture Part A. If there is excess capacity, the opportunity...

Luca Company overapplied manufacturing overhead during 2006. Which one of the following is part of the year end entry to dispose of the overapplied amount assuming the amount is material? An activity that has a direct cause-effect relationship with the resources consumed is a(n) Max Company uses 10,000 units of Part A in producing its products. A supplier offers to make Part A for $7. Max Company has relevant costs of $8 a unit to manufacture Part A. If there is excess capacity, the opportunity...

ACC 349 ALL EXERCISES CALCULATIONS COMPLETE SOLUTIONS GUIDE, WEEK 2 TO 5.

ACC 349 Exam 1) At the end of the year, manufacturing overhead has been overapplied. What occurred to create this situation? A. The company incurred more total job costs than the amount budgeted for the job. B. The actual manufacturing overhead costs were less than the manufacturing overhead assigned to jobs. C. Estimated manufacturing overhead was less than actual manufacturing overhead costs. D. The company incurred more manufacturing overhead costs than the manufacturing overhead...

ACC 349 Week 5 Exercise 8-11 Chen Company's Small Motor Division manufactures a number of small motors used in household and office appliances. The Household Division of Chen then assembles and packages such items as blenders and juicers. Both divisions are free to buy and sell any of their components internally or externally. The following costs relate to small motor LN233 on a per unit basis. Brief Exercise 9-6 For Roche Inc., variable manufacturing overhead costs are expected to be $21,050 i...

ACC 349; Week 3 WileyPlus Complete Solution Guide. Exercise 4-10 Kragan Clothing Company manufactures its own designed and labeled athletic wear and sells its products through catalog sales and retail outlets. While Kragan has for years used activity-based costing in its manufacturing activities, it has always used traditional costing in assigning its selling costs to its product lines. Selling costs have traditionally been assigned to Kragan’s product lines at a rate of 70% of direct material...