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Unformatted text preview: FEE DBACK ON CHAPTER QU IZZES The chapter quizzes in the text were helpful, although I enjoyed the online quizzes more because of the way they described, step by step, how to solve the question if you got it wrong. Here are two examples: 1. The salary of the vice president of finance would be considered a(n): Feedback: Lea rn ing Objective 2 - Administrative costs include all executive, organizational, and clerical costs associated with the general management of an organization rather than with manufacturing, marketing, or selling. The salary of the vice president of finance is an executive cost associated with the general management of an organization and, as such, would be considered an administrative cost. 2. The L inkage Company uses predetermined overhead rates to apply manufacturing overhead to jobs. The predetermined overhead rate is based on labor cost in Dept. A and on machine hours in Dept. B. At the beginning of the year, the company made the following estimates: What predetermined overhead rates would be used in Dept A and Dept B, respectively? A) $15 and 110% B) 50% and $5.00 C) 50% and $8.00 D) 200% and $5.00 Feedback: Lea rn ing Objective 3 - The predetermined overhead rates are determined as follows: Dept. A: $30,000 $15,000 = 200% Dept. B: $25,000 5,000 machine hours = $5.00 per machine hour Overall, I believe a hands-on online quiz is much more helpful than reading the textbook. More resources as to where additional quizzes could be found could help even further. ...
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This note was uploaded on 07/07/2011 for the course ACCT 202 at Clemson.