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exam 3 3006

exam 3 3006 - NAME SECTION_003 ACC 200 SPRING 2006 EXAM...

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1 NAME _________________________ SECTION _________003__________ ACC 200 - SPRING 2006 EXAM THREE 1. Fill in the information requested at the top of this page. Fill in your name on the answer sheet provided. 2. Enter all answers on the answer sheet provided but do NOT make extraneous marks on the answer sheet. Use the test paper for scratch work. The answer sheet will be machine graded; please handle it in a careful manner. Answers must be on the front side , i.e., the side with space for your name and identification. 3. Each question should be answered in the appropriately numbered space on the front side of answer sheet (1-20). Only one answer is acceptable for any question. If you must erase, erase completely . Fill in the chosen circle completely with a soft (#1 or #2) pencil. Remember, with multiple choice questions, there might appear to be several good answers. You need to select the best answer. 4. When you complete the exam, turn in your exam and answer sheet at the front of the room. HONOR PLEDGE I have neither given nor received unauthorized aid on this exam. SIGNED: ____________________________________________
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2 1. Cost of goods sold would be reported on which financial statement? A. Statement of changes in working capital. B. Statement of financial position (balance sheet). C. Statement of income. D. Statement of retained earnings. 2. The “accounts payable” account results from a: A. Accrued expense. B. Accrued revenue. C. Deferred expense. D. Deferred revenue. 3. Gaston Manufacturing uses the weighted average method to calculate equivalent units and had the following information available for the month of March: Beginning work in process inventory (60% complete) Started during March Ending work in process inventory (90% complete) Units 8,000 110,000 6,000 Production Costs $131,200 $1,782,000 The cost per equivalent unit for the month of March is (round up or down to the nearest penny): A. $16.40 B. $16.30 C. $16.20 D. $15.74 E. $15.52 4. Salary paid to the Chief Executive Officer (CEO) of a company would be classified as: A. Direct labor. B.
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exam 3 3006 - NAME SECTION_003 ACC 200 SPRING 2006 EXAM...

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