ACC 225 Chapter 3 notes- Job Order Costing
Job-order costing systems are used when:
Many different products are produced each period.
Products are manufactured to order.
The unique nature of each order requires tracing or allocating costs to
ACC 225-Chapter 2 Notes-Cost Concepts
Cost object= anything for which cost data is desired
Indirect costs=costs that cannot be easily and conveniently traced to cost object. Ex.
Overhead manufacturing. (if making tables and chairs, sandpaper stain and uti
CHAPTER 1 ACC 225 NOTES
Financial Accounting serves external users
Managerial accounting- phase of accounting that is concerned with
providing information to managers for use within organization.
The IMA estimates that more than 80% of professional acc
CD Express, Inc., provides CD duplicating services to software companies. The customer provides a
master CD from which CD Express makes copies. An order from a customer can be for a single copy or
for thousands of copies. Most jobs are broken down into ba
Ajeb east aheet eentalna:
V Yaur answer is correct.
the selling price of me Job
- manufacturing overhead caste charged to the Job
aelllng eaata charged to the Jab
- Iahar eaeta charged tn the job
- materials eaete charged tn the jab When a job is complete
A company's selling price is $90 per unit; its variable cost per unit is $28; and Its total fiXed
expenses are $320,000. What sales volume is needed to achieve the target profit of $200,800?
)( Sorry, your answer is incorrect
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After studying Chapter 3, you should be able to:
1. Distinguish between process costing and job-order costing and identify companies that
would use each costing method.
2. Identify the
1. The following are the unit costs of making and selling an item at a volume of 30,000
units per month (which represents the company's capacity):
Assume the company has 300 units left over from last year which have small defects and
1. All of the following would be classified as manufacturing overhead except the:
wages of supervisor of the machining shop.
depreciation of the equipment in the machining shop.
property taxes relating to the building that houses the machining
2.9 Unit 2 Exam
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This exam covers the material in Chapters 3 and 4 of your textbook, as well as the
learning modules and activies presented in Unit 2.
Exam 3 chapters 8-10And12 Garrison14ed
1. Which of the following is not a benefit of budgeting?
A. It reduces the need for tracking actual cost activity.
B. It sets benchmarks for evaluation performance.
C. It uncovers potential bottlenecks.
1. The master budget is a network consisting of many separate budgets that are
1. Shown below is the sales forecast for Cooper Inc. for the first four months of the
On average, 50% of
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Which of the following are used to calculate the standard quantity per unit of direct materials?
>Direct materials requirements per unit of finished product
>Allowance for waste and spoilage
>Allowance for rejects
The standard price
1. Selling and administrative expenses are considered to be:
D. a period cost under variable costing.
2. A common cost that should not be assigned to a particular product on a segmented income
B. the salary of the corporation
A(n) avoidable cost is a cost that can be eliminated by choosing one alternative over another.
Which of the following refers to the costs that always differ between alternatives? Relevant costs
Which of the following are synonyms for avoidable cost?
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Which budget is prepared directly after the sales budget in a manufacturing company? Production Budget
The cash budget includes four major sections: receipts, disbursements, the cash excess or deficiency, and financing.
Which of the
1.10 Unit 1 EXAM
KRYSTAL G BELL
1.10 Unit 1 EXAM
Started 6/14/16 9:11 PM
Submitted 6/14/16 10:05 PM
Due Date 6/15/16 11:59 PM
Attempt 47 out of 50 points
Time Elapsed 5
0 out of 1 points
Redford, Inc. has provided the following data:
If the dollar contribution margin per unit is increased by 10%, total fixed cost is decreased by
20%, and all other factors remain the same, net income will:
Selected Answer: inc
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You would expect total variable costs to be higher in the flexible budget if the activity level for a period
is higher than expected.
How does the level of activity affect costs in a flexible budget?
>Lower levels of activity reduce
Review Test Submission: 1.5 Quiz, Ch 1
KRYSTAL G BELL
1.5 Quiz, Ch 1
6/8/16 7:34 AM
6/8/16 7:47 AM
6/12/16 11:59 PM
Attempt Score 10 out of 10 poin
1. Standards that do not allow for machine breakdowns or other work interruptions and that
require peak efficiency at all times are known as: