final sp 07 - ACCT4540 CostAcctII Spring2007 FinalExam...

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ACCT 4540 Name__________________________________ Cost Acct II Spring 2007 Final Exam Dr. Elmendorf  MC: 2 points each P 41: 10 points P 42: 15 points P 43: 15 points P 44: 15 points P 45: 5 points P 46: 10 points 1) 21) 2) 22) 3) 23) 4) 24) 5) 25) 6) 26) 7) 27) 8) 28) 9) 29) 10) 30) 11) 31) 12) 32) 13) 33) 14) 34) 15) 35) 16) 36) 17) 37) 18) 38) 19) 39) 20) 40)
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ACCT 4540 Name__________________________________ Cost Acct II Spring 2007 Final Exam Dr. Elmendorf  Answer the following questions using the information below: The following information is for Barnett Corporation: Product X: Revenue $10.00 Variable Cost $2.50 Product Y: Revenue $15.00 Variable Cost $5.00 Total fixed costs $50,000   1) 
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What is  the breakeven point assuming the sales mix consists of two units of Product X and one unit of Product Y?   A) 
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1012.5 units of  Y and 2,025  units of X  
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B)  2012. 5 units of Y and 
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1,000 units of Y  and 2,000 units  of X  
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D)  2,000  units of Y and    2 W
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$1,250,000  
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B)  $1,75 0,000  
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$1,200,000  
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D)  None  of these answers    Answer the following questions using the  information below: Bauer Manufacturing uses departmental cost driver  rates to allocate manufacturing overhead costs to  products. Manufacturing overhead costs are  allocated on the basis of machine - hours in the  Machining Department and on the basis of direct  labor - hours in the Assembly Department. At the  beginning of 20X3, the following estimates were  provided for the coming year: Machining Assembly Direct labor - hours 30,000 60,000 Machine - hours 80,000 20,000 Direct labor cost $500,000 $900,000 Manufacturing overhead costs $420,000 $240,000 The accounting records of the company show the  following data for Job #316: Machining Assembly Direct labor - hours 120 70 Machine - hours 60 5 Direct material cost $300 $200 Direct labor cost $100 $400   Wh at  amount of manufacturing overhead costs will be  allocated to Job #316?  
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$595  
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B) 
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$439  
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C) 
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$532  
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D)  $ 5 2   Answer the  following questions  using the  information below: Because the  Abernathy  Company used a  budgeted indirect - cost rate for its  manufacturing  operations, the  amount allocated  ($200,000) was  different from the  actual amount  incurred ($225,000). Ending  balances in the  relevant accounts  are: Work - in - Process $ 10,000 Finished  Goods 20,000 Cost of  Goods Sold 170,000   W M a n uf ac tu ri n Overhead  Allocated 200,000 Cost of Goods  Sold 25,000 Manufacturing  Overhead  Control 225,000  k - in - Pr o ce ss  C o nt ro l 5 5, 0 0 0 C os of  G o o ds  S ol d 1 7 0, 0 0 M a n uf ac tu ri n Overhead  Allocated 200,000 Work - in - Process Control 30,000 Cost of  Goods Sold 170,000  of  G o o ds  S ol d 2 5, 0 0 0 M a n
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This note was uploaded on 04/05/2010 for the course BUSINESS 11 taught by Professor 11 during the Spring '10 term at University of Hawaii, Manoa.

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final sp 07 - ACCT4540 CostAcctII Spring2007 FinalExam...

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