ACC312_Spring06_Exam1_Solution

ACC312_Spring06_Exam1_Solution - M/C Answer Key (3 points...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Acc 312 - Spring 2006 - Exam I Answer Key - Page 1 M/C Answer Key (3 points each) Question Form A Form B Form C Question Form A Form B Form C 1 D E A 13 B B E 2 C B A 14 B A C 3 A C D 15 D A A 4 A D A 16 D D A 5 C B C 17 C A D 6 A C D 18 D D D 7 C D B 19 E A D 8 D C B 20 B A C 9 A E C 21 B C B 10 E D C 22 B C E 11 C B B 23 A C B 12 C B C Problem 1 Solution (10 points) A. Compute the cost of direct materials purchased during the year. (2 points) Direct materials used in production . .................................................. $1,400 Add: Increase in the direct materials inventory during the year ($520 - $480 = $40) . .......................................................................... 40 Direct materials purchased during the year. ....................................... $1,440 B. Compute the predetermined overhead rate that was used during the year. (4 points) Total manufacturing costs. ....................................................... $8,000 Less: Direct materials used in production . ..................... 1,400 Manufacturing overhead applied. ......................... 3,300
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

ACC312_Spring06_Exam1_Solution - M/C Answer Key (3 points...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online