Chapter 2 Quiz
Tony worked 50 hours last week for Bread Works Manufacturing. Of the 50 hours 6 hours were considered overtime, and also Tony was
idle for 8 of the 50 hours due to an equipment malfunction. Tony makes $30 per hour and is paid $45 an hour
Atlanta Office Equipment manufactures and sells metal shelving. It began operations on January
1, 2014. Costs incurred for 2014 are as follows. Assuming the beginning balance is zero for all
Direct materials used
Direct manufacturing la
(1015 min.) ABC, process costing.
Parker Company produces mathematical and financial calculators and operates at capacity. Data
related to the two products are presented here:
Total manufacturing overhead costs are as follows:
1. Choose a c
Rutgers Business School New Brunswick Undergraduate Program
Department of Accounting and Information Systems
Introduction to Managerial Accounting-33:010:275:Section 01
INTERMEDIATE I MIDTERM 2 PRACTICE QUESTIONS
Lebron Corp. makes a loan to Cavalier Corp. and receives in exchange a 5 year, $10,000 note
bearing interest at 10 percent annually. The effective interest rate is 11 percent.
1) Prepare the jou
Intermediate I, Fall 2015, Westcott
Chapter 8 Quiz TAKE HOME
1. Which of the following is a characteristic of a perpetual inventory system?
a. Inventory purchases are debited to a Purchases account.
b. Inventory records are not kept for every item.
What caused Circuit Citys rapid decline?
The 2005-2006 Turnaround
The Schoonover Years
The Marcum Years
a. decline was slow
b. Prior to 1996 was leader in consumer electronic retailing
Resource - a source of supply, support, or aid, especially one that
can be readily drawn upon when needed.*
Resource Planning is the process of determining the required
resources to effectively and efficiently produce the output required.
1. A company that manufactures dentures
for use by local dentists would use
Manufacturing Overhead Control
A. represents actual overhead costs
1.The East Company manufactures several different
products. Unit costs associated with Product ORD203 are as
Direct materials $50
Direct manufacturing labor
Variable manufacturing overhead
Fixed manufacturing overhead