Acc 350 final exam Study guides, Class notes & Summaries
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![ACC 561 FINAL EXAM 4 Questions and Answers Verified and Rated A+](/docpics/643fd35cae632_2623446.jpg)
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ACC 561 FINAL EXAM 4 Questions and Answers Verified and Rated A+
- Exam (elaborations) • 7 pages • 2023
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ACC 561 FINAL EXAM 4 
 
1.	Question 1 
The entry to record the acquisition of raw materials on account is: 
Correct 
(B) Raw Materials Inventory&... 
2.	Question 2 
Which of the following statements concerning users of accounting information is incorrect? 
Correct 
(D) Regulatory authorities ... 
3.	Question 3 
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: 
Correct 
(A) $350 milli...
![ACC 561 FINAL EXAM 3 QUESTIONS AND ANSWERS LATEST 2023/2024 GRADED A+](/docpics/643fd4c7e2c53_2623504.jpg)
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ACC 561 FINAL EXAM 3 QUESTIONS AND ANSWERS LATEST 2023/2024 GRADED A+
- Exam (elaborations) • 3 pages • 2023
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ACC 561 FINAL EXAM 3 
 
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 2 QUESTIONS AND ANSWERS ALREADY GRADED A](/docpics/643fd48e92bb2_2623495.jpg)
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ACC 561 FINAL EXAM 2 QUESTIONS AND ANSWERS ALREADY GRADED A
- Exam (elaborations) • 4 pages • 2023
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ACC 561 FINAL EXAM 2 
 
1.	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? 
a. 2018 net sales / base year 2016 net sales = 780,000 / 650,000 = 1.2 
1.2 x 100% = 120% 
The answer is 120% 
 
2.	Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department to be $660,000. The compan...
![ACC 561 FINAL EXAM 4](/docpics/6369ac6e5bc98_2089469.jpg)
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ACC 561 FINAL EXAM 4
- Exam (elaborations) • 7 pages • 2022
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ACC 561 FINAL EXAM 4 
 
1.	Question 1 
The entry to record the acquisition of raw materials on account is: 
Correct 
(B) Raw Materials Inventory&... 
2.	Question 2 
Which of the following statements concerning users of accounting information is incorrect? 
Correct 
(D) Regulatory authorities ... 
3.	Question 3 
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: 
Correct 
(A) $350 milli...
![ACC 561 FINAL EXAM 4](/docpics/6369b0305b425_2089481.jpg)
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ACC 561 FINAL EXAM 4
- Exam (elaborations) • 7 pages • 2022
- Available in package deal
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ACC 561 FINAL EXAM 4 
 
1.	Question 1 
The entry to record the acquisition of raw materials on account is: 
Correct 
(B) Raw Materials Inventory&... 
2.	Question 2 
Which of the following statements concerning users of accounting information is incorrect? 
Correct 
(D) Regulatory authorities ... 
3.	Question 3 
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: 
Correct 
(A) $350 milli...
![ACC 561 FINAL EXAM 1](/docpics/6369aff1eae1c_2089478.jpg)
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ACC 561 FINAL EXAM 1
- Exam (elaborations) • 7 pages • 2022
- Available in package deal
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ACC 561 FINAL EXAM 1 
 
1.	Question 1 
The entry to record the acquisition of raw materials on account is: 
Correct 
(B) Raw Materials Inventory&... 
2.	Question 2 
Which of the following statements concerning users of accounting information is incorrect? 
Correct 
(D) Regulatory authorities ... 
3.	Question 3 
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: 
Correct 
(A) $350 milli...
![ACC 561 FINAL EXAM 3](/docpics/6369b0a5c0af4_2089483.jpg)
-
ACC 561 FINAL EXAM 3
- Exam (elaborations) • 3 pages • 2022
- Available in package deal
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ACC 561 FINAL EXAM 3 
 
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 3](/docpics/6369abf5ba978_2089466.jpg)
-
ACC 561 FINAL EXAM 3
- Exam (elaborations) • 3 pages • 2022
- Available in package deal
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- $15.49
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ACC 561 FINAL EXAM 3 
 
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 350 Final Exam with 100% correct Answers(2020 edition).](/docpics/5f3d4e26dd0ab_794159.jpg)
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ACC 350 Final Exam with 100% correct Answers(2020 edition).
- Exam (elaborations) • 8 pages • 2020
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Five Seasons is a merchandiser of packed foods. The company provides the following information for the year 2015:

2) Jezebel Company incurred fixed costs of $300,000. Total costs, both fixed and variable, are $450,000 when 50,000 units are produced. It sold 35,000 units during the year. Calculate the variable cost per unit.

3) True or False: Purely Pizza Company sells pizzas in two different sizes—medium and large. The number of medium pizzas sold is twice the number of large pizzas sold. Th...
![ACC 561 FINAL EXAM 2](/docpics/6369af3d596ee_2089476.jpg)
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ACC 561 FINAL EXAM 2
- Exam (elaborations) • 4 pages • 2022
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ACC 561 FINAL EXAM 2 
 
1.	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? 
a. 2018 net sales / base year 2016 net sales = 780,000 / 650,000 = 1.2 
1.2 x 100% = 120% 
The answer is 120% 
 
2.	Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department to be $660,000. The compan...
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