GCU ACC650 Week 1 Quiz

GCU ACC650 Week 1 Quiz

GCU ACC650 Week 1 Quiz

Question

ACC650 Managerial Accounting

Week 1 Quiz

•A
custom-home builder would likely utilize:

•job-order
costing.

•process
costing.

•mass
customization.

•process
budgeting.

•joint
costing.

Harrison
Industries began July with a finished-goods inventory of $48,000. The
finished-goods inventory at the end of July was $56,000 and the cost of goods
sold during the month was $125,000. The cost of goods manufactured during July
was:

•$104,000.

•$125,000.

•$117,000.

•$133,000.

•None of
the answers is correct.

•Shu
Corporation recently computed total product costs of $567,000 and total period
costs of $420,000, excluding $35,000 of sales commissions that were overlooked
by the company’s administrative assistant. On the basis of this information,
Shu’s income statement should reveal operating expenses of:

•$35,000.

•$420,000.

•$455,000.

•$567,000.

•$602,000.

•Which of
the following is not an element of competency?

•To develop
appropriate knowledge about a particular subject.

•To perform
duties in accordance with relevant laws.

•To perform
duties in accordance with relevant technical standards.

•To refrain
from engaging in an activity that would discredit the accounting profession.

•To prepare
clear reports after an analysis of relevant and reliable information.

•Metalica
Company applies overhead based on machine hours. At the beginning of 20×1, the
company estimated that manufacturing overhead would be $500,000, and machine
hours would total 20,000. By 20×1 year-end, actual overhead totaled $525,000,
and actual machine hours were 25,000. On the basis of this information, the
20×1 predetermined overhead rate was:

•$0.04 per
machine hour.

•$0.05 per
machine hour.

•$20 per
machine hour.

•$21 per
machine hour.

•$25 per
machine hour.

•The value
chain of a manufacturer would tend to include activities related to:

•manufacturing.

•research
and development.

•product
design.

•marketing.

•all of the
answers are correct.

•Farrina
Manufacturing uses a predetermined overhead application rate of $8 per direct
labor hour. A review of the company’s accounting records for the year just
ended discovered the following:

Underapplied
manufacturing overhead: $7,200

Actual
manufacturing overhead: $392,000

Budgeted
labor hours: 50,000

Simone’s
actual labor hours worked totaled:

•48,100.

•49,100.

•49,900.

•50,900.

•cannot be
determined based on the information presented.

•Conversion
costs are:

•direct
material, direct labor, and manufacturing overhead.

•direct
material and direct labor.

•direct
labor and manufacturing overhead.

•prime
costs.

•period
costs.

•Under- or
overapplied manufacturing overhead at year-end is most commonly:

•charged or
credited to Work-in-Process Inventory.

•charged or
credited to Cost of Goods Sold.

•charged or
credited to a special loss account.

•prorated
among Work-in-Process Inventory, Finished-Goods Inventory, and Cost of Goods
Sold.

•ignored
because there is no effect on the Cash account.

•Strategic
cost management is:

•the
process of determining cost drivers.

•the
recognition of the importance of cost relationships among the activities in the
value chain.

•the
process of managing cost relationships to the firm’s advantage

•cost-causing
factors.

•two of the
answers are correct.

•Which of
the following employees would not be classified as indirect labor?

•Plant Custodian.

•Salesperson.

•An
employee that packs products for shipment.

•Plant
security guard.

•A line
employee that produces parts for chairs using a saw and template.

•Which of
the following is not a drawback of actual costing?

•Costs are
subject to cyclicality.

•Costs
avoid the estimation associated with predetermined overhead rates.

•Costs may
not be evenly spread throughout the year due to large payments for overhead
costs.

•Actual
overhead costs may only be available after a production period has passed.

ORDER NOW FOR AN ORIGINAL PAPER ASSIGNMENT

Who We Are

We are a professional custom writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework.

Do you handle any type of coursework?

Yes. We have posted over our previous orders to display our experience. Since we have done this question before, we can also do it for you. To make sure we do it perfectly, please fill our Order Form. Filling the order form correctly will assist our team in referencing, specifications and future communication.

Is it hard to Place an Order? ORDER NOW FOR AN ORIGINAL PAPER ASSIGNMENT

1. Click on the  “Order Now” on the main Menu and a new page will appear with an order form to be filled.

2. Fill in your paper’s requirements in the “PAPER INFORMATION” section and the system will calculate your order price/cost.

3. Fill in your paper’s academic level, deadline and the required number of pages from the drop-down menus.

4. Click “FINAL STEP” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.

5. From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.

SCORE A+ WITH HELP FROM OUR PROFESSIONAL WRITERS: ORDER NOW FOR AN ORIGINAL PAPER ASSIGNMENT

We will process your orders through multiple stages and checks to ensure that what we are delivering to you, in the end, is something that is precise as you envisioned it. All of our essay writing service products are 100% original, ensuring that there is no plagiarism in them. The sources are well-researched and cited so that it is interesting. Our goal is to help as many students as possible with their assignments, i.e. our prices are affordable and services premium.

Your assignment woes ends here!

Get a 10 % discount on an order above $ 50
Use the following coupon code :
NursingPapers
Hello
Got a Question to ask?
Got a Question to ask?
Hello, can I be of help?