Acct 346 Study guides, Class notes & Summaries

ACCT 346 Week 4 Homework 1. Active Equipment produces high-quality basketballs. If the fixed cost per basketball is $3 when the company produces 24,000 basketballs, what is the fixed cost per basketball when it produces 36,000 basketballs? Assume both volumes are in the same relevant range. Identify the formula, then compute the new fixed cost per basketball when it produces 36,000 basketballs. New fixed cost / = per basketball / = 2. Pamela's Quilt Shoppe sells homemade Amish quilts. Pamela bu...

ACCT 346 Week 6 Discussion: Responsibility Accounting, Standard Costs & Variance Analysis

ACCT-346 Week 2 Discussion: Job-Order Costing (GRADED)

ACCT 346 Week 3 Homework 1. For each of the following companies, specify whether the company would be more likely to use job costing or process costing. a. Medical practice of six doctors & four physician assistants Job costing b. Soft drink bottler Process costing c. Movie studio Job costing d. Plastic bottle manufacturer Process costing e. Architect Job costing f. Temporary staffing agency Job costing g. Oil refinery Process costing h. Janitorial services company Job costing i. Soup manufactur...

ACCT 346 Week 8 Final Exam Page 1 1. (TCO 1) A difference between actual costs & planned costs (Points : 4) should be investigated if the amount is exceptional. indicates that the planned c ost was poorly estimated. indicates that the manager is doing a poor job. should be ignored unless it involves the cost of ingredients. 2. (TCO 1) Which of the following is not likely to be a fixed cost? (Points : 4) Direct materials Rent Depreciation Salary of the human resources director 3. (TCO 2) Which of...

ACCT-346 Week 7 Discussion: Capital Budgeting and the Time Value of Money (RATED A)

1. Incremental drop in revenue ($1,200,000) Incremental cost savings: Cost of sales 700,000 Salaries 175,000 Other 60,000 Incremental increase in serving pieces (13% x $800,000) 104,000 Incremental increase in serving pieces variable costs (13% x $500,000) (65,000) Incremental increase in profit ($226,000) 2. A) Break-even point in sales = fixed costs / ($1-variable cost per dollar) = 115,600 / (1- 0.38) = 115,600/0.62 = $186,451.61 B) Level of sales needed to reach monthly profit of $67,...

ACCT-346 Week 2 Discussion: Job-Order Costing (GRADED)

DeVry University ACCT346 Weekly Assignment Week 1 1. Identify whether each of the items below is a Product Cost or Period Cost: (1/2 point each, total 5 points) Factory insurance Interest on bank loan Eggs, salt, water used for baking Depreciation on bake ovens Paper wrappers for bread Delivery truck costs Advertising costs Factory supervisor salaries Sales Commissions Flour used in baking bread 2. Identify whether each of the items below is a Direct Cost or Indirect Cost: (1/2 point each, total...

Advanced Questions and Answers For CFA Course 2023 faithful representation, substance over form, prudence, neutrality, completeness - CORRECT ANSWER-According to the IFRS what are the 5 qualities of financial information that improve reliability Costs can be reliably measured - CORRECT ANSWER-According to IFRS what condition must be met for revenue recognition to occur? Current ratio will decrease. Accruing wages increases both current liabilities and expenses, but collecting recei...