Week 1 Module and Quiz Results - E https://d...

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Unformatted text preview: E https://d ms.devry.edu/dm steb Pages/fl ash/content/stu dentlrnasteryTest.a spx?co u rsetD :4581949&userID:130917S&dsle: 1315Lro| etype:STUD&'.courseC a g WeIDOIIlQL RogerGufledge 0 0 — - te Submitted Trru thv 11 2010 I E; 23' 33' 7% E E ' “27.50%? l Inventory balances and ctnerfinancial data for ET products are as follows iii—l Cost Conce ts MTCt‘l 1 xls Inventories Dec. 31. 2010 Dec. 31. 201:. Direct: Materials 52,000 $2,500 Total Man ufacturlng Cost : $ 17 WID $3.500 $2,000 Finlsh ed Goods $10,000 $5,000 other Data: Direct materials purdiesed on credit $5 000 Direct Labor $5,000 Overhead $7,000 Selling Costs $2.000 General and Admi istrative Costs 35 000 Sales $50,000 Calculate Total Manufacturing Cost for the year G) Show my answer a Close Mastery Test total points possible 30 O Show the correct answer Done O lnternctl Protected Mode: 0n. v $110092. v a https://d ms.d2vry.edu/d mWebP ages/Flash/content/student/m aStan/Test.aspx?courseID=4581§r-1§ atuser10=1309179 StdssID= 131 Scroletyp e: STU DSccou rsec a g Welcome. RogerGulledge Date Submitted Thu tum ii 231!) E Q =39 '3' 4* a InventCII'Y balances and otherfinancial data For ET orcducts are as follows 5| Cost Conce ts MTQ1 1 xls Inventories Dec. 31, 2010 Dec. 31, 2011 Direct Materials 52.000 52,500 Total Manufacturing Cost : $ ' ' WIP $3.500 $2.000 ' Fln’shed Goods _ . _ 7 - I E'Ianatlpn of Corr Answer Step 1 other Data: Direct Materials Used aired; mare 3|; purchased on credit Beginning balance Direct materials + Purchases e Ending balance Direct rnat Direct Labor Overhead Selling Costs General and Administrative Costs Sales Step 2 Total Manufacturing costs = Dlrect materlals used In production + Dlrect Labor +Overhead $2,000 +$5,00 0—$2,50 0 $4,500 Calculate Total Manufacturing Costfortne . ( ) Show my answer T . Close r-.-laster-. Test total points pessisle. 30 © Show the correct angwer Explanallorl Done 0 Internet | Protected Mode: 0n v QIDO‘BG v El https://d ms.devryeedu./d m s/Web P a g es/FI ash/< c. ntei—it/stu a ant/m a stery‘reet. a pr?( c. u rseID : 4581949 Stu serID : 1309179 BtdsSID: 131 Sac. l etyp e: STU D81: c. u r§e( a g Welcome. RogerGulledge Date aueminea Thu rum i i 231:] I Q 2&9 lies as Isle cite 0:13;? Inventory balances ancl otnerfinancial data for ET products are as follows. g‘l - cost conce ts MTcti 1 xls | inventories Dec. 31, 2010 Dec. 31. 2011 Direct Materials $2.000 $2,500 Total Manufacturing cost a 3i WIP $3.500 $2.000 ' Fl i n as a , n 5 e °° 5 EXPIanntipn of Correct Answer Other Data: 7 $2,000+$5,0'007$2,500 Dlrect materials purchased on credit : $4500 1 DI rect Labor Overh ead Step 2 Selling Costs Total Manufacturing costs General and Admlnistrative COSIS : Direct materials usedln production+DlreCtLabor+Overnead E sales : $4.5 00 *$6 .000 +$7,0 00 calculate Total Manufacturing Costrortrie 7 $17,500 C) Show my answer a Close mast-en Test total points passisle. 30 © Show the correct angwer Done 0 Internet | Protected Mode: an 43 v 9.100% v E https://d ms.deuly.edn/dm steb Pages/Fl ash/(Dntent/stu dent/masteryTest.a spx?(u u rsaID =4581949 5w ser10=13091795m5510= 1312mm etype=§ruoaimurset a g Welcome. RogerGIllledge . - — . ta Submiflafl' Thu Nov 1" 2am I EQEEEE ream? I Inventory balances and Clll’lerfirlar‘lclal data for ET producis are as follows' I Cost Dance is MTQZ 1.xls -u I Inventories Dec. 31,2009 Dec. 3:, 20.10 " Dired Materials 51°00 52‘s“. Cost of Goods Man ufacturea : a; 10 000 MP $3.500 $2.000 Finished Goods $10,000 $5,000 - I Othet Data: I Direct materials purchased on credit $5.000 Direct Labor $6.000 Overhead $7.60!] selling Costs $2,000 General and Administrative Costs $51000 - Sales 550.000 Calculate Cost of Goods Manufamurecl (CGM) for the year O Show my answer a Close Mastery Test icilal polrlls posslble 30 G) Show “1.: correct ans r I Done 0 lnieineu Plateded Mode 0n of 2.: firm An_‘.-r invemary eaianees , Exp _n_ runuwe .etummme me (3..., Manama“; . a“ m Woman" ; Degmnma been“. Dead mamas - purchases 7 enema been“. D” _ 7 $7,111") . a.v.,uu u N;‘/_!»(H) _ , I 54.5“. : Raw Materials used lri production - Dlrect lanor i Overhead - —_ lrf—i . - invemary eaianees , Exp _n_ of currm An-“ 7 $4.50:- . $5,000 . $7,000 gaieuiam cast a. Gaaas Manuiaemrea rUGM) iar the year men-mo a https://d ms.deuly.edn/dm steb Pages/Fl ash/(Dntentfstu dent/masteryTest.a spx?(u u rsaID =4531949 5w sErID=130917951dssID= 1312mm Etype=STUD&(Durse( a Welcome. RogeanlledgE use Su:n1lne:l' niu "av ii Zulu leg; Question 2 ,2 021mg I Inventory balances . follows' ‘ I 51 I Cost Canoe : $4,500 + $6,000 «457,000 = $17,500 venturies [9p 3 7 Direct Materials alculatlrlg the Cost leGrJleS i w"; anufacturecl ' Finished Goods : WIF’ Beginning balance +TolalManufac1urlrlg Costs 7w”: ending balance = $3,500 4- $17,500 7 $2,000 Other Data: = $19,000 Direct materials pl. Dlrect Labor > Overhead $7,000 Selling Costs $2,000 General and Administrative Costs $5,000 Sales 350.000 calculate Cost of Goods Manufactured [CGM} for the year 0 Shaw my answer Explanation - - ' - '3 .. 3 master, Tastbtal DOII‘IIS DJSSI ID 0 (9 Show “we correct antiwar Done 0 lnlelnd| Pimeded Mode 0n If“ v £10055 v E https://d ms.deu.y.ednmm steb Pages/Fl ash/(Dntentfstu denumasteryTesm spx?(u u rseID =4581949 5w serID=130917951dssID= 1315mm Etype:5TUD&(DurseC a D m Weloeuul. Roger Gulledge [a Submmed. Thu New 11 2a“: 7 Question 3 ' 1:! 2:? a “3 5:? 2V 5 points I Inventory balances and clnerfinanclal data for ET producls are as follows. Si Cost Conce ts MTQB 2.xls CBM&S 24.1 UU Inventories Dec. 31, 2009 Dec. 31, 2010 Grass Margm SUEDE] Direct Materials $3,000 $2,400 W'P $350” $1000 NetOper Income 21.900 Finished Goods 510.000 551000 Other Dale: Direct materials purchased on credit $6,000 Direct Labor $5.000 Overhead $7,000 Selling 50515 53,000 General and Ad minish'ative Costs $6,000 Sales $551000 Calculate Cost of Goods Manufactured and Sold (CGM8.S), Gross Margin, and Net Operating Income fortne year Q Show my answer a Close Mastery Test total pnlr‘lls pcsslble 3:: © Show the correct answer Explana n Done 0 lntelnet| Protected Mode: cm. «Fig v QIDOSE- v a naps-fl a mamgcawamx, w:=..==5=;n.=s W“. “C”, “may”, m: “=7,- . an “ax “Dunduinzglgag a.” zauilfiugllg 5“;ng 151 an, .myp =7>. uuaz m”; a, 5d am (Cerasas). Hagan/umvvvaupasav...0.Mam.LanuauuaHUHMHHy. an d.axmu.4uam74351545“UnauL‘ilsusulgumnlurlfilwwmuwai g I once. Muturi . unshed boot-s other Dan = on a.“ .,,_..L.. “I; o: r-cl L- bar Scumg Co; v. Genera. aha Adammsnauve cos-S calculate cast a. Gangs Manufactursa anc- aam (ca-mag). Grass Mnrgm runrl NM I’Jnr-rnrlng .nrnmp anrhr- yonr cm,“ “he. r: Tam annl nmnm rmfi O G) Show me correct answer \ Hummubn j ‘5 v ‘ialooee. . E httpsflfdmsdevryed ur’d msNJebPa g esfflashfc o ntentfstudenbl'masteryTesta spxkcu rseID: 4581949 Stu serID: lBUQlEStdssID:13151rcletypezSTUDBtccurseC Q Q £1 Q During December. LP Products incurred the fol CostConce ts I'v'ITQ4 2.xls Advertising Expense General &.Administrative Costs PropertyTaxes on Factory Insurance on Factory Building Material used in Production Production Labor Quality Control Salary Production Supervisor Salary From the information given above. what is the total indirect manufacturing costforDecember? _-:-.__ l.-1aster;.-' Test total points p-J - Welcome! Rogeanlledge Earl:— SubmittEd: Thu Hay 112013 Question 4 ..5 WIN? lowing costs: $10000 9000 10.000 2.400 55.000 43.000 8.000 8,000 Total indirectmanufacturing cost = $ Total indirect manufacturing costs Propertytaxes on factory + Insurance on Factory Building + Quality Control Salary + Production Supervisor Salary = $10,000 + 2,400 + 8,000 + 8,000 = $28,400 9 Internet | Protected Mode: On a httpsflfdmsdevryed ur’d msNJebPa g esfflashfc o ntenflstudentl'masteryTesta spxkou rseID: 4581949 Stu serID: lBUQlEStdssID:13151roletypezSTUDBtcourseC Q Welcome, Roger Guledge I I ‘ I ta Submitted: ThuMcw 11 21:10 I _ I E} -/ Question 5 '3 E3! E3! 3 E 5 points i Below are Iistedvarious costs that are incurred byvarious business __ entities: .v' Insurance on a factory assembly facrlity _ _ _ _ _ The cost ofhardware installed on sailboats Commissions paidto Avon representatives Recurring amemsmg was by 2‘ thSiCianls 0m” If Depreciation of assembly line facilities at Ford The cost ofhardware installed on sailboats Shipping COSTS from 3 Dock diSUibUtiOfl Gamer Shipping costs from. an Amazon distribution center Insurance on afactory assemblyfacility Wages paidto temporary personnel v’ Recurring advertising costs by a physician's ofice Depreciation ofassembly line facilities at Ford _ Wages paid to temporary personnel From the information given above, selectthe items thatwould be Commissions paidto Avon representatives correctly classified as afixed cost. moles: M t T tt t l ' t 'bl an O Show myansmr as ery es 0 a pom S pOSSI 9' © Show the correct answer Done 0 Internet | Protected Mode: On (a ' Q1003; §——- .. _— a httpsWd ms.dewy.edufd msNJebPa g esfflashfc o ntenflstudenflmasteryTesta spx?cou rseID: 4581949 Stu serID: 1309119 StdssID: 131 Stroletyp e: STU Dfitcourset a Q W Welcome, RogerGulledge Dan:— SubniittEd: Thu Hav 112010 ' ' Question 6 , ®@@E@E am I The high—low method can be used to separate a mixed cost into its two components fixed. and variable. LP Products would like to use this method to break out these two components forthe mixed cost—Indirect Manufacturing Labor Costs. They have determined that Machine Hours appears to drive this cost. The high and low data points forthese two variables are given below: _ Variable Costl'iiilachine Hour E:. ii Cost Concepts MTQB 2.xls Fixed Cost X Y Machine Hours Indirecthg. Labor Costs High Observation—Weeks 200 $15000 Low Observation—Wee“ 100 10,000 Determine the variable costl'machine hour and the fixed indirect manufacturing labor cost. _ . . . . ._ .. . .. Explanation of correct Answer Variable Costs Total Cost: Variable Cost + Fixed Cost $15,000 - $10,000 = 200—100 $10,000 = $50 *100 + Fixed Cole = $50Imachine hour $10,000 — $5,000 = Fixed Cost $5,000: Fixed Cost r“ 5'05!“ i-.-1aster:.-' Test total points on Done 9 Internet | Protected Mode: On {I ' 9.199% V ...
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This note was uploaded on 03/26/2012 for the course AC505 AC505 taught by Professor Dillan during the Spring '10 term at Keller Graduate School of Management.

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Week 1 Module and Quiz Results - E https://d...

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