Acct 505 Study guides, Class notes & Summaries
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![ACCT 505 WEEK 6 QUIZ-2](/docpics/4831209/6602f3830c449_4831209_121_171.jpeg)
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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...
![ACCT 505 QUIZ 1 WEEK 2](/docpics/4668196/65e6cd82b3efa_4668196_121_171.jpeg)
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ACCT 505 QUIZ 1 WEEK 2
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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 PRACTICE QUIZ 2](/docpics/4668073/65e6cad2c44b8_4668073_121_171.jpeg)
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ACCT 505 PRACTICE QUIZ 2
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ACCT 505 PRACTICE QUIZ 2 
Student: ___________________________________________________________________________ 
1. Return on investment (ROI) can be decomposed into the asset turnover and the 
A. gross margin ratio. 
B. profit margin ratio. 
C. operating margin ratio. 
D. contribution margin ratio. 
2. How will decreases in the following items affect return on investment (ROI)? 
A. a 
B. b 
C. c 
D. d 
3. The CJP Company produces 10,000 units of item S10 annually at a total cost of $190,000. 
Th...
![ACCT 505 FINAL EXAM.](/docpics/4831200/6602f372501e4_4831200_121_171.jpeg)
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ACCT 505 FINAL EXAM.
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ACCT 505 FINAL EXAM. 
Question 1.1. (TCO E) Installing a custom logo on a boat is a(n) (Points : 10) 
 
batch-level activity. product-level activity. unit-level activity. 
organization sustaining activity. 
 
Question 2.2. (TCO G) Given the following data, what would ROI be? 
Sales	$70,000 
Net operating income	$10,000 
Contribution margin	$20,000 
Average operating assets	$50,000 
Stockholder's equity	$25,000 
(Points : 10) 
 
28.6% 
20.0% 
40.0% 
50.0% 
Page 2 
Question 1.1. (TCO C) Aziz Corp...
![ACCT 505 FINAL EXAM](/docpics/4668109/65e6cb66c513d_4668109_121_171.jpeg)
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ACCT 505 FINAL EXAM
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ACCT 505 FINAL EXAM. 
Question 1.1. (TCO E) Installing a custom logo on a boat is a(n) (Points : 10) 
 batch-level activity. 
 product-level activity. 
 unit-level activity. 
 organization sustaining activity. 
Question 2.2. (TCO G) Given the following data, what would ROI be? 
Sales $70,000 
Net operating income $10,000 
Contribution margin $20,000 
Average operating assets $50,000 
Stockholder's equity $25,000 
(Points : 10) 
 28.6% 
 20.0% 
 40.0% 
 50.0% 
Page 2 
Question 1.1. (TCO C) Aziz ...
![ACCT 505 WEEK 6 QUIZ-2](/docpics/4668131/65e6cc1fe3166_4668131_121_171.jpeg)
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ACCT 505 WEEK 6 QUIZ-2
- Exam (elaborations) • 8 pages • 2024
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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 
E...
![ACCT 505 QUIZ 1 WEEK 2](/docpics/4831219/6602f39459fea_4831219_121_171.jpeg)
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ACCT 505 QUIZ 1 WEEK 2
- Exam (elaborations) • 9 pages • 2024
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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? 
 
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 
 
 
 
Question 2.	Question :	(TCO F) Proce...
![ACCT 505 WEEK 2 QUIZ 1](/docpics/4831212/6602f3876ecea_4831212_121_171.jpeg)
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ACCT 505 WEEK 2 QUIZ 1
- Exam (elaborations) • 7 pages • 2024
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1. TCO F) Computing unit product costs involves averaging in: 
 
Job-Order Costing	Process Costing 
A	Yes	No 
B	Yes	Yes 
C	No	Yes 
D	No	No 
(Points : 5) 
 
Choice A. 
 	 
Choice C. Choice D. 
2. (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: 
 
 
Units	Percent Complete with respect 
to Conversion 
Beginning work in process inventory	11,000	90% 
Started in production durin...
![ACCT 505 WEEK2 QUIZ](/docpics/4831190/6602f36127285_4831190_121_171.jpeg)
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ACCT 505 WEEK2 QUIZ
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ACCT 505 WEEK2 QUIZ 
1.	(TCO B) Some companies use process costing and some use job-order costing. Which method a company uses depends on its industry. Several companies in different industries are listed below. 
i.	Specialty coffee roaster (roasts small batches of specialty coffee beans) 
ii.	Custom aircraft builder 
iii.	Brick manufacturer 
iv.	Microbrewery that produces a number of specialty beers 
v.	Steel company making chain link fences from iron ore 
vi.	Breakfast cereal manufacturer 
For...
![ACCT 505 WEEK 2 QUIZ 1](/docpics/4668161/65e6cceba1aef_4668161_121_171.jpeg)
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ACCT 505 WEEK 2 QUIZ 1
- Exam (elaborations) • 5 pages • 2024
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ACCT 505 WEEK 2 QUIZ 1 
1. TCO F) Computing unit product costs involves averaging in: 
Job-Order Costing Process Costing 
A Yes No 
B Yes Yes 
C No Yes 
D No No 
(Points : 5) 
 Choice A. 
 Choice B. 
 Choice C. 
 Choice D. 
2. (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: 
Units Percent Complete with respect 
to Conversion 
Beginning work in process inventory 11,000 9...
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