Greg Powers is employed by Gussie Company, where he assembles a component part for one of the
company's products. Greg is paid $20 per hour for regular time, and he is paid time and a half [i.e., $30 per
hour for all work in excess of 40 hours per week.
3 . Award: 0 out of100 point
After careful planning. Jammu Manufacturing Corporation has decided to swuch to ajustin-time inventory system as a component of the lean thinking model. At the beginning oflhis switch, Jammu has 30
units of product in Inventor
Award: 1 out of 1.00 point
Which of the following would NOT be treated as a product cost for external nancial reporting purposes?
0 Depreciation on a factory building.
0 Salaries of factory workers.
0 Indirect labour in The factory.
a . dvertising expense
Cost Structure the relative proportion of fixed, variable, and mixed costs found in an organization
Variable Costs one whose total dollar amount varies in direct proportion to changes in the activity
level, so if activity level doubles, the tota
Manufacturing Costs three categories:
1) Direct labour consists of labour costs that can be easily (ie physically and conveniently) traced
to individual units of product. Ex, the labour costs of assembly-line workers at Bauer Hockey.
2) Direct materials t
Chapter 8: Variable Costing
Overview of Absorption and Variable Costing
absorption costing treats all manufacturing costs as product costs (whether fixed or
Unit product Cost = direct material + direct labour + fixed overhea
Chapter 2: Business Processes and Decision Making
Q2: What Is a Business Process?
A business process is a series of activities, tasks, or steps designed to produce a product
o Best thought of as a system and is sometimes referred to as a busine
Sights and Sounds, a manufacturer of highquality televisions and audio equipment for home use, has
implemented the following controls as part of managing business risks.
Identify which of the six business functions that make up the value cha
UHIIS SDIU ounng IHE fT'IDHIf'I Wife 2-: 3,4UU]
Units still in finished goods at Ma; 31
Cost per USE flash drive
Cost in finished goods inventory at Ma; 31
d. Units sold during the month cfw_above
Cost per USE flash drive
Cost in cost of goods sold at Mav
inward: 1 out of 1.00 point
Which of the following would be considered a product cost for external nancial reporting purposes?
0 Cost ofa warehouse used to store nished goods.
0 Cost of guided public tours through the corn pany's facilities.
0 Cost oftrav
ward: 1 out of 1.00 poinl:
Delta Merchandising, Inc., has provided the following information for the yearjust ended:
Net sales $128,500
Beginning int-enterr $24,000
Gross margin $38,550
1Il'Illhat was the ending inventory for the company
7_ Award: 1 out M100 palm
Williams Company's direct labour cost is 25% ofi'Ls conversion cosl. If the manufacturing overhead coat for the last period is $45,000 and the drreu materials com is $25,000. what is [he direcI labour cost?
a . $15,000.
Direct labour cost 1,000
Total cost F $ 1,100
Manufacturing overhead cost
3. Not available in Connect.
Direct lahour cost: 35 hours x $20 per hour $200
Manufacturing overhead cost: 5 hours x $20 per hour 100
Total cost $800
14_ sword: 2 out $10.00 pulnts 5 "'5' "5
Gelinas Computer ISompany was organized on May 1. On that date, the company purchased 34,000 USE
flash drives to be sold with personal computers, each preloaded with the company's product information
Award: 1 out uf 1.00 paint
1Ii'Iifhat dees canversicrn cast consist of?
0 Manufacturing overhead cost.
0 Direct materiala and direct labour coat.
0 Directlabcur cost.
a . Direct labour and manufacturing overhead ccet.
12' Award: 1 out of 100 point
The Target store in your home town is one of many Target department stores across the province. Some 0fthe costs associated with the store in your home lown last month appear below:
Shoe Department Cost of Sales $80,000
Student number: 7762321
Due date: 2017-01-31
The Behavioral Disorders of the New Generation
Who controls the past controls the future: who controls the present controls the
past[Gor49] presents the conversation that occurred between
What is IFRS?
IFRS is the acronym for International Financial Reporting Standards. IFRS is used throughout
the world except in the United States where U.S. GAAP (generally accepted accounting
principles) is followed.
There is an urgency for the U.S. to ad
A company issues a cheque for $75 but records it incorrectly as $57. On the bank reconciliation, the $18
error should be
Added to the balance per bank
Deducted from he balances per bank
Deducted from the balance per books
Added to the balance
Chapter 12: Power, Politics, Ethics
Power: the capacity to influence others who are in a state of dependence. CAPACITY to
influence the behavior of others.
Power is not always perceived or exercised.
The fact that the target of power is dependent on the p
Intermediate Accounting, Vol. 1 (Lo/Fisher)
Chapter 2 Framework for Financial Reporting
2.1 Multiple Choice Questions
1) Which of the following is not a purpose of a conceptual framework of accounting
concepts and financial reporting objectives?
A) To inc
Chapter 1-5, and 7 are here for people who forgot the material and might want to review and since everything after
the midterm carries the stuff from b4 ya. I also know the first page repeats what the picture says.
Managerial Accounting 2230 Study Guide
Business and Consumer Law 3040 Key Information
Chapter 5: An Introduction to Contracts
Contract: An agreement between two parties that is enforceable in a court of law.
Does not have to be in writing.
Supported by mutual consideration.
Both parties act