Acct 505 quiz 1 week 2 Study guides, Class notes & Summaries
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ACCT 505 WEEK 6 QUIZ-2
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ACCT 505 WEEK 6 QUIZ-2 
Grade Details - All Questions 
 
1.	Question :		(TCO D) A company that has a profit can 
increase its return on investment by 
Student Answer:		increasing sales revenue and operating expenses by the same dollar amount. 
			increasing average operating assets and operating expenses by the same dollar amount. 
		 
 	increasing sales revenue and operating expenses by the same percentage. 
			decreasing average operating assets and sales by the same percentage. 
Instructor Ex...
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ACCT 505 QUIZ 1 WEEK 2
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ACCT 505 QUIZ 1 WEEK 2
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ACCT 505 QUIZ 1 WEEK 2 | GRADED A
- Exam (elaborations) • 9 pages • 2021
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1.	Question :	(TCO F) For which situation(s) below would an organization be more likely to use a job-order costing system of accumulating product costs rather than a process costing system? 
 
 		 A steel factory that processes iron ore into steel bars 
 
 			 A factory that processes sugar and other ingredients into black licorice 
 		 	 A costume maker that makes specialty costumes for figure skaters 
 			 All of these 
 
 
 
 
 
Ques	 	 custom furniture manufacturing. 
 
 			 oil refinin...
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ACCT 505 QUIZ 1 WEEK 2
- Exam (elaborations) • 9 pages • 2022
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ACCT 505 QUIZ 1 WEEK 2 
1. Question : (TCO F) For which situation(s) below would an organization be more 
likely to use a job-order costing system of accumulating product costs 
rather than a process costing system? 
Student Answer: A steel factory that processes iron ore into steel bars 
A factory that processes sugar and other ingredients into black 
licorice 
A costume maker that makes specialty costumes for figure skaters 
All of these 
Instructor 
Explanation: 
Chapter 3 
Points Receive...
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ACCT 505 QUIZ 1 WEEK 2
- Exam (elaborations) • 9 pages • 2022
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ACCT 505 QUIZ 1 WEEK 2 
1. Question : (TCO F) For which situation(s) below would an organization be more 
likely to use a job-order costing system of accumulating product costs 
rather than a process costing system? 
Student Answer: 
A steel factory that processes iron ore into steel bars 
A factory that processes sugar and other ingredients into black 
licorice 
A costume maker that makes specialty costumes for figure skaters 
All of these 
Instructor 
Explanation: 
Chapter 3 
Points Received: ...
Too much month left at the end of the money?
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ACCT 505 WEEK 2 QUIZ 1
- Exam (elaborations) • 5 pages • 2021
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ACCT 505 WEEK 2 QUIZ 1
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ACCT 505 WEEK 2 QUIZ 1
- Exam (elaborations) • 5 pages • 2022
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ACCT 505 WEEK 2 QUIZ 1 
1. TCO F) Computing unit product costs involves averaging in: 
A 
B 
C 
D 
Job-Order Costing 
Yes 
Yes 
No 
No 
Process Costing 
No 
Yes 
Yes 
No 
(Points : 5) 
Choice A. 
Choice B. 
Choice C. 
Choice D. 
(TCO F) Luft Company uses the weighted-average method in its process costing system. Operating 
data for the first processing department for the month of June appear below: 
2. 
Units 
Beginning work in process inventory 
Started in production during June 
Ending work in...
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ACCT 505 QUIZ 1 WEEK 2
- Exam (elaborations) • 9 pages • 2022
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ACCT 505 QUIZ 1 WEEK 2 
1. Question : (TCO F) For which situation(s) below would an organization be more 
likely to use a job-order costing system of accumulating product costs 
rather than a process costing system? 
Student Answer: A steel factory that processes iron ore into steel bars 
A factory that processes sugar and other ingredients into black 
licorice 
A costume maker that makes specialty costumes for figure skaters 
All of these 
Instructor 
Explanation: 
Chapter 3 
Points Receive...
-
ACCT 505 QUIZ 1 WEEK 2| VERIFIED SOLUTION
- Exam (elaborations) • 9 pages • 2022
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ACCT 505 QUIZ 1 WEEK 2
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ACCT 505 QUIZ 1 WEEK 2
- Exam (elaborations) • 9 pages • 2022
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ACCT 505 QUIZ 1 WEEK 2
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