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ACCT 202 CHAPTER 8 WEEK 5 CONCEPT ALL QUESTIONS WITH VERIFIED ANSWERS 2024 VERSION
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A ____________ variance is the difference between the actual quantity of input used and the 
standard quantity of input that should have been used. - ANS-quantity 
A _____________ variance is the difference between the actual quantity of input used and the 
standard quantity of input that should have been used. - ANS-quantity 
A company budgets administrative salaries at $5,000 at a sales level of 1,000 units. At a sales 
level of 1,200 units, budgeted administrative salaries will be $ - ANS-...
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ACCT 202 Exam II Questions with 100% Correct Answers| Already Passed Grade A
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Which of the following is a focus of managerial accounting? - to provide information to business 
managers to assist them in controlling their businesses 
Managerial accounting focuses on providing information for internal planning and control. - True 
The cost of direct materials cannot easily be traced to the manufactured product, and therefore, it is a 
component of manufacturing overhead. - False 
Manufacturing overhead includes all manufacturing costs, such as direct labor and direct materi...
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ACCT 202 test Questions with 100% Correct Answers| Already Passed Grade A
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Minor items such as nails and glue are usually considered to be: 
a) indirect materials 
b) direct materials 
c) administrative costs 
d) selling costs - a) indirect materials 
Inventoriable costs is another terms for ______ costs. - product
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ACCT 202 Cert Exam Questions with 100% Correct Answers| Already Passed Grade A
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All of the following are reported as current liabilities except 
a) bonds payable. 
b) unearned revenues. 
c) notes payable. 
d) accounts payable. - a) bonds payable
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ACCT 202 Actual Exam Questions with 100% Correct Answers| Already Passed Grade A
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ACCT 202 Actual Exam Questions with 100% 
Correct Answers| Already Passed Grade A 
Planning involves which of the following activities? -Setting goals and objectives for the company 
Which of the following is being fulfilled when management compares the budget to actual results? - 
Controlling 
When management uses feedback to take corrective action on the budgets, which of the following 
management responsibilities are being fulfilled? -Controlling 
Which one of the following items is not one o...
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ACCT 202 Exam #3 Guide Questions with 100% Correct Answers| Already Passed Grade A
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Strategic planning focuses on - long-range decisions 
A plan that formalizes the overall goals and objectives of a company in financial terms is called a - 
master budget 
Pro forma statements are based on - estimates and predictions. 
Budgets are used - to communicate information across an organization; to plan the future 
activities of a business, and as a tool in performance evaluation
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ACCT 202 Exam 3 Questions with 100% Correct Answers| Already Passed Grade A
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ACCT 202 Exam 3 Questions with 100% Correct 
Answers| Already Passed Grade A 
what happens if no par value is issued for stated value - it becomes legal capital 
before transferring the ownership right in shares, the stockholder.... - does not need permission 
from anyone 
Paid-In Capital - The amount paid into the corporation by the stockholders in exchange for shares 
of ownership
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ACCT 202 Exam Questions with 100% Correct Answers| Already Passed Grade A
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(4) Cabinets Unlimited uses departmental overhead rates to allocate its manufacturing overhead to 
jobs. The company has two departments: Assembly and Sanding. The Assembly Department uses 
a departmental overhead rate of $45 per machine hour, while the Sanding Department uses a 
departmental overhead rate of $25 per direct labor hour. Job 542 used the following direct labor 
hours and machine hours in the two departments: 
Actual results for the Assembly Department and Sanding Department 
Direc...
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ACCT 202 Exam #1 Questions With Verified Answers
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ACCT 202 Exam #1 Questions With Verified Answers...
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ACCT 202 Ch20 Edition 4 (100% correct answers) | Download To Score An A
- Exam (elaborations) • 64 pages • 2022
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ACCT 202 Ch20 Edition 4 (100% correct answers) | Download To Score An A
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