ACC 561

ACC 561 FINAL EXAM 2

ACC 561 FINAL EXAM 2 1. 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 $441,000 credit 2. The investigation of materials price variance usually begins in the Purchasing department 3. Scorpion Production Company planned to use 1 yard of plastic per unit b...

ACC 561 Final Exam 4 The entry to record the acquisition of raw materials on account is: Which of the following statements concerning users of accounting information is incorrect? 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 reported as assets at:​ At September 1, 2017, Baxter Inc. reported Retained Earnings of $423,000. During the month, Baxter generated revenues of $60,000, incurred expenses of $3...

ACC 561 Final Exam Sept 2018 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 investigation of materials price variance usually begins in the Scorpion Production Company planned to use 1 yard of plastic per unit budgeted at $81 a yard. However, the plastic ac...

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, 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. Ho...

ACC 561 Final Exam Summer 2018 Which of the following statements concerning users of accounting information is incorrect?acc 561 final exam Miller Manufacturing’s degree of operating leverage is 1.5. Warren Corporation’s degree of operating leverage is 3. Warren’s earnings would go up (or down) by ________ as much as Miller’s with an equal increase (or decrease) in sales.​ The investigation of materials price variance usually begins in the:​ Which of the following statements is not ...

ACC 561 Final Exam 5 (Question and Answers) Which of the following statements concerning users of accounting information is correct? It costs Garner Company $12 of variable and $5 of fixed costs to produce one bathroom scale which normally sells for $35. A foreign wholesaler offers to purchase 3,000 scales at $15 each. Garner would incur special shipping costs of $1 per scale if the order were accepted. Garner has sufficient unused capacity to produce the 3,000 scales. If the special order is a...