Loose Leaf for Managerial Accounting 16th Edition

ISBN 13
978-1259307416
ISBN 10
1259307417
Authors
Eric Noreen, Peter Brewer, Ray Garrison
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183 documents found.
710268
Exam Prep
Accounting Appendix N 1 Analyze A Mixed Cost Using A Scatter Graph Plot And The High-low
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Appendix 5A Analyzing Mixed Costs 1) The engineering approach to the analysis of mixed costs involves a detailed statistical analysis of cost
Loose Leaf for Managerial Accounting 16th Edition
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Accounting Appendix N 1 Data For This Proposed Activity Based Costing System
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Appendix 2A Activity-Based Absorption Costing 1) Feauto Manufacturing Corporation has a traditional costing system in which it applies manufacturing overhead to its
Loose Leaf for Managerial Accounting 16th Edition
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Accounting Appendix N 1 During Its First Year Operations The Company
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Appendix 6A Super-Variable Costing 1) The super-variable costing net operating income period can be computed by multiplying the number of units sold
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Accounting Appendix N 1 Explanation Data Processing Costs Allocated 26488 Difficulty Easy Topic
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Appendix 4B Service Department Allocations 1) The order in which the costs of service departments are allocated will affect the amounts
Loose Leaf for Managerial Accounting 16th Edition
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Accounting Appendix N 1 Explanation Predetermined Overhead Rate Based Capacity Estimated
1 Managerial Accounting, 16e (Garrison) Appendix 2B The Predetermined Overhead Rate and Capacity 1) When the fixed costs of capacity are spread over the estimated activity of the period rather than the level of activity at capacity, the units that are produced must shoulder the
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Accounting Appendix N 1 Its Balance Sheet January Appears Below Venzke Corporation Balance
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Appendix 3A Job-Order Costing: A Microsoft Excel-Based Approach 1) In the Excel, or spreadsheet, approach to recording financial transactions, raw material purchases
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Accounting Appendix N 1 Units Started Into Production During The Period
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Appendix 4A FIFO Method 1) Any difference in the equivalent units calculated under the weighted-average and the FIFO methods is due
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Accounting Appendix N 1 Warranty Repairs And Replacements Systems Development Rework
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Appendix 1A, Cost of Quality 1) ISO 9000 standards were established to make sure that all consumer products incorporate specific safety features. Answer:
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Accounting Appendix N 2 Compute The Cost Per Equivalent Unit Using The FIFO
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 30) Que Corporation uses the FIFO method in its process costing system. Operating data for the Cutting Department for the month of March appear below:
Loose Leaf for Managerial Accounting 16th Edition
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Accounting Appendix N 2 Custodial Services Department Are Allocated First The Amount
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 22) Romain Surgical Hospital uses the direct method to allocate service department costs to operating departments. The hospital has two service departments, Information Technology and Administration, and two operating
Loose Leaf for Managerial Accounting 16th Edition
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Accounting Appendix N 2 Explanation Predetermined Overhead Rate Estimated Total Manufacturing
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 20) The management of Bullinger Corporation would like to investigate the possibility of basing its predetermined overhead rate on activity at capacity. The company's controller has provided an example
Loose Leaf for Managerial Accounting 16th Edition
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Accounting Appendix N 2 Fackler Companys Quality Cost Report Based
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 45) Fackler Company's quality cost report is to be based on the following data: Quality circles $ 12,000 Product recalls $ 24,000 Supplies
Loose Leaf for Managerial Accounting 16th Edition
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Accounting Appendix N 2 January 31 Because The Page Is Too Narrow To Accommodate All Of
21 Finished Goods Manufact- uring Overhead PP&E (net) = Retained Earnings = (1) = (2) = (3) = (4) = (5)
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Accounting Appendix N 2 No Reproduction Or Distribution Without The Prior Written Consent
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 23) Deidoro Company has provided the following data for maintenance cost: Prior Year Current Year Machine hours 8,000
Loose Leaf for Managerial Accounting 16th Edition
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Accounting Appendix N 2 Supervariable Costing Net Operating Income Exceeds Absorption
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 19) Letcher Corporation manufactures and sells one product. The following information pertains to the company's first year of operations: Variable costs per unit:
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Accounting Appendix N 2 The Overhead Cost Charged To Model 58 Is
21 Explanation: Direct materials $ 540 Direct labor 600 Manufacturing overhead (1.5 × $600) 900 Unit product cost $ 2,040 Selling price (2.00 × $2,040) $ 4,080
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Accounting Appendix N 3 All Rights Reserved Reproduction Distribution Without The
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 33) The management of Plitt Corporation would like to investigate the possibility of basing its predetermined overhead rate on activity at capacity. The company's controller has provided an example
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Accounting Appendix N 3 Compton Corporation Is A Wholesale Distributor Of Educational
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 39) The following production and average cost data for two levels of monthly production volume have been supplied by a company that produces a single product:
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Accounting Appendix N 3 Easy Topic Cost Allocation Using Stepdown Method For
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 41) Strzelecki Corporation uses the step-down method to allocate service department costs to operating departments. The company has two service departments, Service Department A and Service Department B, and
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Accounting Appendix N 3 Hartnett Company’s Quality Cost Report Is To Be Based On The
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 59) Eagleson Company's quality cost report is to be based on the following data: Net cost of scrap $ 75,000 Liability arising from
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Accounting Appendix N 3 Huberty Corporation Uses A Job-order Costing System To 
41 Finished Goods Manufact- uring Overhead Prepaid Expenses PP&E (net) = Accounts Payable Retained Earnings 18,000 0 27,000 250,000 = 19,000 306,000 (1) = 71,000 (2) = (3) 11,000 =
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Accounting Appendix N 3 Labadie Corporation Manufactures And Sells One Product.
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 35) Tremble Corporation manufactures and sells one product. The following information pertains to the company's first year of operations: Variable costs per
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Accounting Appendix N 3 Record The Flow Of Materials, Labor, And Overhead Through
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 41) In February, one of the processing departments at Wyke Corporation had ending work in process inventory of $15,000. During the month, $264,000 of costs were added to production
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Accounting Appendix N 3 Use Activity Based Absorption Costing Compute Unit Product Costs Blooms
34 17) Torri Manufacturing Corporation has a traditional costing system in which it applies manufacturing overhead to its products using a predetermined overhead rate based on direct labor-hours (DLHs). The company has two products, B40W and C63J, about which it has provided the following data: B40W
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Accounting Appendix N 4 Medium Topic Equivalent Units Production Using Fifo Method Learning
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 59) Activities in the Challenger Corporation's Assembly Department for the month of March follow: Percent Complete Units Materials Conversion Work-in-process inventory,
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Accounting Appendix N 4 Pediatrics Geriatrics And Surgery The Clinic Allocates
56 Explanation: Allocation base for Personnel costs = 27 + 104 + 160 = 291 Allocation base for IT costs = 85 + 87 = 172 Service Departments Operating Departments Personnel IT Family Medicine Geriatric Medicine Departmental costs $
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Accounting Appendix N 4 Supervariable Costing And Absorption Costing
56 b. Absorption costing unit product cost: Direct materials $ 93 Direct labor 10 Fixed manufacturing overhead 62 Absorption costing unit product cost $ 165 Absorption costing income statement: Sales ($224
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Accounting Appendix N 4 The Company Sells The Product For 14050 Per
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 53) Wuensch Inc., an escrow agent, has provided the following data concerning its office expenses: Escrows Completed Office Expenses April 53
Loose Leaf for Managerial Accounting 16th Edition
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Accounting Appendix N 4 Use Microsoft Excel To Summarize The Flow Of Costs In A Job-order
60 c. Montuori Corporation Income Statement For the month ended October 31 Sales $299,000 Cost of goods sold (adjusted) 228,000 Gross margin 71,000 Selling and administrative expenses: Salaries expense $32,000 Depreciation expense 3,000
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Accounting Appendix N 5 Calculate Arlos Total Variable Cost 9000 T-shirts
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 66) Jorgenson Corporation has provided the following data for the first five months of the year: Machine Hours Lubrication Cost January 240 $ 1,500 February 320
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Accounting Appendix N 5 Explanation Fifo Methodunits Started And Completed During
81 Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Explanation: FIFO method Units started and completed during the period = Units completed during the period - Units in beginning work in process inventory
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Accounting Appendix N 6 Easy Inc Uses The Fifo Method
101 Explanation: Units started and completed = Units started into production during the period – Units in ending inventory = 160,000 – 7,000 = 153,000 Materials Conversion To complete beginning work in process inventory: Materials: 18,000 units × (100% –
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Accounting Appendix N 6 Intercept 1724 The Solution Using The Formulas The
93 75) The accounting department of Archer Company, a merchandising company, has prepared the following analysis: Cost Cost Formula Cost of goods sold $56 per unit Sales commissions 12% of sales Advertising expense $300,000 per month Administrative salaries $160,000 per month Billing expense
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Accounting Appendix N 7 Zubris Corporation Uses The FIFO Method In Its Process Costing
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 116 Answer: FIFO method Units started and completed during the period = Units completed during the period – Units in beginning work in process inventory =
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Accounting Chapter 1 1 Classifications For Predicting Cost Behavior Learning Objective 0104
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Chapter 1 Managerial Accounting and Cost Concepts 1) A factory supervisor's salary would be classified as an indirect cost with
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Accounting Chapter 1 10 Medium Topic Using Different Cost Classifications For Different
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 258) Dominik Corporation purchased a machine 5 years ago for $527,000 when it launched product M08Y. Unfortunately, this machine has broken down and cannot be repaired. The machine could be
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Accounting Chapter 1 3 Meginnis Corporation’s Relevant Range Of Activity Is
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 109) A cost incurred in the past that is not relevant to any current decision is classified as a(n): A) period cost. B) opportunity cost. C) sunk cost. D) differential
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Accounting Chapter 1 4 Given The Cost Formula Y = $23,000
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 132) Wofril Corporation uses the cost formula Y = $5,300 + $0.60X for the maintenance cost, where X is machine-hours. The August budget is based on 8,000 hours of planned
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Accounting Chapter 1 5 Understand Cost Classifications Used Predict Cost Behavior Variable
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 153) The following cost data pertain to the operations of Quinonez Department Stores, Inc., for the month of September. Corporate headquarters building lease $ 77,000 Cosmetics
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Accounting Chapter 1 6 Explanation Direct Costs Include The Cost Clay
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 173) Lambeth Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 4.90 Direct labor $ 2.95
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Accounting Chapter 1 8 Easy Topic Cost Classifications For Predicting Cost Behavior Learning
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 214) Lagle Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 4.85
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Accounting Chapter 1 9 Store Inc Income Statement For The Quarter Ended March
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 241) At an activity level of 9,000 machine-hours in a month, Moffatt Corporation's total variable maintenance cost is $390,240 and its total fixed maintenance cost is $368,280. What would
Loose Leaf for Managerial Accounting 16th Edition
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Accounting Chapter 10a 1 What Was The Fixed Manufacturing Overhead Budget
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Ch 10A: Predetermined Overhead Rates and Overhead Analysis in a Standard Costing System 1) A volume variance and budget variance are computed for fixed manufacturing
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Accounting Chapter 10a 2 Budgeted Fixed Overhead Cost Fixed Overhead
21 Explanation: Fixed component of the predetermined overhead rate = $76,815/13,500 labor- hours = $5.69 per labor-hour Volume variance = Budgeted fixed overhead – Fixed overhead applied to work in process = $76,815 – ($5.69 per labor-hour × 14,400 labor-hours) = $76,815 – ($81,936)
Loose Leaf for Managerial Accounting 16th Edition
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Accounting Chapter 10a 3 The Following Data For May Has Been Provided 
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Budgeted fixed manufacturing overhead $ 157,410 Budgeted production (a) 15,000 units Standard hours per unit (b)
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Accounting Chapter 10a 4 Easy Topic Predetermined Overhead Rates And Overhead Analysis
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 64) Wineman Incorporated makes a single product—an electrical motor used in many long-haul trucks. The company has a standard cost system in which it applies overhead to this product based
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Accounting Chapter 10a 7 The Company Has A Standard Cost System In Which It Applies Overhead
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 126) An outdoor barbecue grill manufacturer uses a standard costing system in which standard machine-hours (MHs) is the measure of activity. Data from the company's flexible budget for manufacturing overhead
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Accounting Chapter 10a 8 The Fixed Manufacturing Overhead Budget Variance For April Was
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 144) A manufacturer of industrial equipment has a standard costing system based on standard direct labor-hours (DLHs) as the measure of activity. Data from the company's flexible budget for manufacturing
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Accounting Chapter 11 1 Residual Income Is The Difference Between Net Operating Income And The Product
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Chapter 11: Performance Measurement in Decentralized Organizations 1) Return on investment (ROI) equals margin multiplied by sales. Answer: FALSE Difficulty: 1 Easy Topic:
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Accounting Chapter 11 2 Condren Inc Reported The Following
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 53) Leete Inc. reported the following results from last year's operations: Sales $ 14,000,000 Variable expenses 9,660,000 Contribution margin
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Accounting Chapter 11 3 Wait Time Throughput Time 280 Hours 97
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 74) Worsell Inc. reported the following results from last year's operations: Sales $ 11,000,000 Variable expenses 8,200,000 Contribution margin
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Accounting Chapter 11 4 Compute Return On Investment (ROI) And Show How Changes In Sales, Expenses
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 93) Gauntlett Inc. reported the following results from last year's operations: Sales $ 12,000,000 Variable expenses 9,580,000 Contribution margin
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Accounting Chapter 11 5 Roi For This Years Investment Opportunity Considered
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 114) Serie Inc. reported the following results from last year's operations: Sales $ 16,800,000 Variable expenses 10,640,000 Contribution margin
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Accounting Chapter 11 6 The Minimum Required Rate Of Return For Performance Evaluation Purposes
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 133) Dacker Products is a division of a major corporation. The following data are for the most recent year of operations:
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Accounting Chapter 11 8 The Ceo Would Pursue The
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 167) The Clipper Corporation had net operating income of $380,000 and average operating assets of $2,000,000. The corporation requires a return on investment of 18%. Required: a. Calculate the
Loose Leaf for Managerial Accounting 16th Edition
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Accounting Chapter 12 10 Determine The Most Profitable Use Of A Constrained Resource
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 191) A customer has asked Lalka Corporation to supply 3,000 units of product H60, with some modifications, for $34.70 each. The normal selling price of this product is $46.35
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Accounting Chapter 12 2 Explanation Avoidable Fixed Costs 160000 90000
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 54) Otool Inc. is considering using stocks of an old raw material in a special project. The special project would require all 240 kilograms of the raw material that are
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Accounting Chapter 12 3 Variable Selling And Administrative Costs This Special
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 73) Part S51 is used in one of Haberkorn Corporation's products. The company makes 12,000 units of this part each year. The company's Accounting Department reports the following costs of
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Accounting Chapter 12 4 Final Sales Value After Further Processing Less Sales
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 89) Holden Corporation produces three products, with costs and selling prices as follows: Product A Product B Product C Selling price per unit
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Accounting Chapter 12 5 Mcfarlain Corporation Presently Making Part U98 That
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 111) The management of Bonga Corporation is considering dropping product D74F. Data from the company's accounting system for this product for last year appear below: Sales $830,000 Variable expenses
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Accounting Chapter 12 6 Reserved Reproduction Distribution
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 128) Melbourne Corporation has traditionally made a subcomponent of its major product. Annual production of 30,000 subcomponents results in the following costs: Direct materials $
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Accounting Chapter 12 7 Which Product Makes The Most
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 145) The Wester Corporation produces three products with the following costs and selling prices: Product A B C Selling price per unit $ 21 $
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Accounting Chapter 12 8 Boney Corporation Processes Sugar Beets That Purchases
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Boney Corporation processes sugar beets that it purchases from farmers. Sugar beets are processed in batches. A batch of sugar beets costs $53 to buy from farmers and $18 to
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Accounting Chapter 13 5 Compute The Simple Rate Return For Investment Blooms
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 103) Vandezande Inc. is considering the acquisition of a new machine that costs $370,000 and has a useful life of 5 years with no salvage value. The incremental net operating
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Accounting Chapter 13c 1 The Income Tax Rate 30 The After-tax
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Chapter 13C: Income Taxes and the Net Present Value Method 1) A capital budgeting project's incremental net income computation for purposes of determining incremental tax
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Accounting Chapter 13c 10 A Onetime Expense 90000 For Renovations Would Required
172 145) Vore Corporation is considering a capital budgeting project that involves investing $570,000 in equipment that would have a useful life of 3 years and zero salvage value. The net annual operating cash inflow, which is the difference between the incremental sales revenue and incremental cash operating expenses, would
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Accounting Chapter 13c 2 Cash Operating Expenses $(440,000) 
21 Explanation: Depreciation expense = (Original cost – Salvage value) ÷ Useful life = ($200,000 – $0) ÷ 4 years = $50,000 per year Year 2 Calculate the annual tax expense: Sales $ 480,000
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Accounting Chapter 13c 3 No Reproduction Or Distribution Without The Prior Written Consent
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 37) Colantro Corporation has provided the following information concerning a capital budgeting project: Tax rate 30 % Expected life
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Accounting Chapter 13c 4 Annual Incremental Sales Would Be $350,000 And Annual Incremental Cash
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. A) $96,000 B) $24,000 C) $120,000 D) $80,000 61 Answer: A Explanation: Depreciation expense = (Original cost - Salvage value) ÷ Useful life\ = ($160,000
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Accounting Chapter 13c 5 Medium Topic Income Taxes And The Net Present
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 74) The income tax expense in year 3 is: A) $15,000 B) $6,000 C) $3,000 D) $9,000 81 Answer: C Explanation: Depreciation expense = (Original
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Accounting Chapter 13c 6 Explanation Depreciation Expense Original Cost Salvage
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 94) The total cash flow net of income taxes in year 2 is: A) $61,000 B) $70,000 C) $110,000 D) $89,000 101 Answer: D Explanation:
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Accounting Chapter 13c 7 Salvage Value Useful Life 160000 0
121 Explanation: Depreciation expense = (Original cost − Salvage value) ÷ Useful life = ($160,000 − $0) ÷ 4 years = $40,000 per year Year 2 Calculate the annual tax expense: Sales
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Accounting Chapter 13c 8 The Working Capital Would Required Immediately And
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 141 Answer: Year Now 1 2 3 Calculate the annual tax expense: Net annual op. cash inflow $230,000 $230,000 $230,000 Depreciation expense
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Accounting Chapter 13c 9 Income Taxes And The Net Present Value
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 161 Answer: Depreciation expense = (Original cost – Salvage value) ÷ Useful life = ($80,000 – $0) ÷ 4 years = $20,000 per year Year
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Accounting Chapter 14a 1 Ending Balance Accounts Receivable Beginning Balance Accounts
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Ch 14A: The Direct Method of Determining the Net Cash Provided by Operating Activities 1) Under the direct method of determining the net cash provided
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Accounting Chapter 14a 2 The Net Cash Provided Used In Investing
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 22) Last year Marton Corporation reported a cost of goods sold of $720,000 on its income statement. The following additional data were taken from the company's comparative balance sheet for
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Exam Prep
Accounting Chapter 14a 3 Education 48 Hayward Corporation Had Net Sales 610000
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 41) Last year, Knox Corporation reported on its income statement sales of $375,000 and cost of goods sold of $140,000. During the year, the balance in accounts receivable increased $30,000,
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Exam Prep
Accounting Chapter 14a 4 Operating Activities Organizing The Statement Cash Flows Learning Objective
55 51) Maloney Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 26 $ 22 Accounts receivable
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Exam Prep
Accounting Chapter 2 1 Compute The Total Cost And The Unit Product Cost Of A Job
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Chapter 2 Job-Order Costing: Calculating Unit Product Costs 1) A cost driver is a factor, such as machine-hours, beds occupied,
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Exam Prep
Accounting Chapter 2 10 The Company Has Provided The Following Data Concerning
181 150) Bolander Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 70,000 Total fixed manufacturing overhead cost $ 294,000 Variable manufacturing overhead per machine-hour
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Exam Prep
Accounting Chapter 2 11 The Company Uses Job Order Costing System And Computes
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 162) Prather Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year
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Exam Prep
Accounting Chapter 2 12 Hickingbottom Corporation Has Two Production Departments
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 175) Macnamara Corporation has two manufacturing departments--Casting and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Casting
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Exam Prep
Accounting Chapter 2 13 Janicki Corporation Has Two Manufacturing Departments
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 241 Answer: C Explanation: The first step is to calculate the estimated total overhead costs in the two departments. Machining
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Exam Prep
Accounting Chapter 2 14 Job A And Job H. There Were No Beginning Inventories
261 Overhead applied to a particular job = Predetermined overhead rate × Amount of the allocation base incurred by the job = $7.70 per machine-hour × 80 machine-hours = $616 Customizing Department overhead cost = Fixed manufacturing overhead cost + (Variable overhead cost per direct labor-hour × Total
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Exam Prep
Accounting Chapter 2 15 Compute The Total Cost And The Unit Product
281 207) Eisentrout Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours.
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Exam Prep
Accounting Chapter 2 16 Casting Department Closest Toa 970 Per Machinehour
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 301 Answer: C Explanation: Forming Department predetermined overhead rate: Estimated fixed manufacturing overhead $ 28,000
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Exam Prep
Accounting Chapter 2 17 Apply Overhead Cost Jobs Using Predetermined Overhead Rate Blooms
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 237) Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours
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Exam Prep
Accounting Chapter 2 18 Cardosa Corporation Uses Joborder Costing System
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 341 Answer: a. Estimated total manufacturing overhead cost = Estimated total fixed manufacturing overhead cost + (Estimated variable overhead cost per unit of the allocation base × Estimated total
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Exam Prep
Accounting Chapter 2 19 Hultquist Corporation Has Two Manufacturing Departments Forming
361 267) Leeds Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 50,000 Total fixed manufacturing overhead cost $215,000 Variable
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Exam Prep
Accounting Chapter 2 2 Compute Predetermined Overhead Rate 0202 Apply Overhead Cost
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 40) Steele Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. Steele Corporation has provided the following estimated costs for next year:
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Exam Prep
Accounting Chapter 2 20 Further Assume That The Company Uses Markup 50
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 381 Answer: a. The first step is to calculate the estimated total overhead costs in the two departments. Forming Estimated fixed manufacturing overhead $50,400 Estimated variable
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Exam Prep
Accounting Chapter 2 21 How Much Manufacturing Overhead Will
397 283) Bierce Corporation has two manufacturing departments--Machining and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Machining Finishing Total Estimated total machine-hours (MHs) 4,000 1,000 5,000 Estimated total fixed manufacturing overhead cost $20,000 $2,100
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Exam Prep
Accounting Chapter 2 3 Apply Overhead Cost Jobs Using Predetermined Overhead Rate
41 Job J's manufacturing cost: Direct materials $ 7,000 Direct labor cost 7,700 Manufacturing overhead applied 26,450 Total manufacturing cost $ 41,150 Total manufacturing cost assigned to Job E $ 61,450 Total manufacturing cost assigned to
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Exam Prep
Accounting Chapter 2 4 Education 69 Mahon Corporation Has Two Production Departments
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 64) Columbo Corporation has two production departments, Forming and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's
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Exam Prep
Accounting Chapter 2 5 Estimated Total Manufacturing Overhead Cost Estimated Total Amount
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 77) Huang Aerospace Corporation manufactures aviation control panels in two departments, Fabrication and Assembly. In the Fabrication department, Huang uses a predetermined overhead rate of $30 per machine-hour. In the
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Exam Prep
Accounting Chapter 2 6 Predetermined Overhead Rate Amount The Allocation Base Incurred
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 95) Gerstein Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year
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Exam Prep
Accounting Chapter 2 7 Lueckenhoff Corporation Uses Job Order Costing
121 112) Opunui Corporation has two manufacturing departments--Molding and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Molding Finishing Total Estimated total machine-hours (MHs) 4,000 1,000 5,000 Estimated total fixed manufacturing
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Exam Prep
Accounting Chapter 2 8 Job T687 Was Completed With The Following
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 141 Answer: A Explanation: Estimated total manufacturing overhead cost = Estimated total fixed manufacturing overhead cost + (Estimated variable overhead cost per unit of the allocation
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Exam Prep
Accounting Chapter 2 9 Explanation Estimated Total Manufacturing Overhead Cost Estimated
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 137) Ronson Corporation has two manufacturing departments--Casting and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates:
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Exam Prep
Accounting Chapter 3 10 Direct Materials Requisitioned For Use In Production
181 176) The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: Raw Materials Beg Bal 4,500 8,000 4,700 Work in Process Beg Bal 3,600 21,700
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Exam Prep
Accounting Chapter 3 11 Boursaw Corporation Has Provided The Following
201 Work In Process Finished Goods
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Exam Prep
Accounting Chapter 3 12 Medium Topic Schedule Cost Goods Manufactured And Cost
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 221 Answer: D Explanation: Schedule of Cost of Goods Manufactured Direct
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Exam Prep
Accounting Chapter 3 13 There Were No Beginning Inventories; Consequently, The Direct Materials
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 213) Centore Inc. has provided the following data for the month of June. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below
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Exam Prep
Accounting Chapter 3 14 Schedule Of Cost Of Goods Manufactured And Cost Of Goods Sold
261 229) Kahanaoi Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: Beginning inventories:
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Exam Prep
Accounting Chapter 3 15 Compute Underapplied Overapplied Overhead Cost And Prepare
281 240) Prahm Inc. has provided the following data for August: Raw materials, beginning balance $ 19,000 Work in process, beginning balance $ 33,000 Finished Goods, beginning balance $ 52,000 (1) Raw materials purchased
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Exam Prep
Accounting Chapter 3 16 Statement Cost Goods Sold Beginning Finished Goods Inventory Add Cost
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 248) Tondre Corporation has provided the following data concerning last month's operations. Direct materials $24,000 Direct labor $58,000 Manufacturing overhead cost applied to Work in Process
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Exam Prep
Accounting Chapter 3 5 At The Beginning Of The Year, The Total Estimated Manufacturing
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 96) Beshaw Inc. has provided the following data for the month of January. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below
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Exam Prep
Accounting Chapter 3 6 Manufacturing Overhead For The Month Was Underapplied
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 116) Sagon Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of September. Prior to the closing of the overapplied or underapplied balance to Cost of
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Exam Prep
Accounting Chapter 3 7 Understand The Flow Of Costs In A Job-order Costing System
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 136) Kapanga Manufacturing Corporation uses a job-order costing system and started the month of October with a zero balance in its work in process and finished goods inventory accounts. During
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Exam Prep
Accounting Chapter 3 8 A Explanation Predetermined Overhead Rate Estimated Total Manufacturing
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 141 Answer: C Explanation: Predetermined overhead rate = Estimated total manufacturing overhead cost ÷ Estimated total amount of the allocation base = $568,000
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Exam Prep
Accounting Chapter 3 9 Process Account Balance Would Bea 13000b 
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Accounts Payable Bal (1) 19,000 (5) 5,000
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Exam Prep
Accounting Chapter 4 1 Reconciliation Report Using The Weighted Average Method Learning Objective
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Chapter 4 Process Costing 1) In a process costing system, costs are traced directly to jobs. Answer: FALSE Difficulty: 2
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Exam Prep
Accounting Chapter 4 2 Saada Corporation Uses The Weighted Average Method Its
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 39) Carrington Corporation produces canned vegetable soup. The company uses the weighted- average method in its process costing system. The company sold 300,000 units in January. Data concerning inventories follow:
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Exam Prep
Accounting Chapter 4 3 Units Transferred To The Next Department Or To Finished Goods
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 56) Kota Toy Corporation manufactures lizard dolls in two departments, Molding and Assembly. In the Molding Department, plastic is injected into a lizard-shaped mold. The dolls that come out of
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Exam Prep
Accounting Chapter 4 4 A Explanation Units Ending Work Process Units Beginning
61 Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 72) Lucas Corporation uses the weighted-average method in
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Exam Prep
Accounting Chapter 4 5 Explanation Weighted Average Method Materials Conversion Units Transferred
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Explanation: Weighted-average method Materials Conversion Units transferred to the next department 8,800 8,800
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Exam Prep
Accounting Chapter 4 6 Corporation Uses The Weighted Average Method Its Process
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 95) Bistrol Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage
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Exam Prep
Accounting Chapter 4 7 The Following Costs Were Incurred In The First Processing Department
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 106) Haffner Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
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Exam Prep
Accounting Chapter 4 8 Work In Process, October 1Units Started 
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 141 Answer: (1) Work in Process-Assembly Department $ 24,500 Raw Materials $ 24,500 (2)
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Exam Prep
Accounting Chapter 4 9 June Answer Cost Beginning Work Process Inventory Costs Added
155 c. Weighted-average method cost per equivalent unit Materials Conversion Cost of beginning work in process inventory $6,200 $16,300 Costs added during the period 42,390 136,340 Total cost (a) $48,590 $152,640 Equivalent units of production (b) 215 212 Cost per equivalent unit (a)
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Exam Prep
Accounting Chapter 5 1 Difficulty Easy Topic Cvp Relationships Graphic Form Learning Objective
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Chapter 5 Cost-Volume-Profit Relationships 1) Incremental analysis is an analytical approach that focuses only on those revenues and costs that will not
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Exam Prep
Accounting Chapter 5 10 Laraia Corporation Has Provided The Following
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 208) Sebree Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales
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Exam Prep
Accounting Chapter 5 11 Selling Price Variable Cost Per Price $21 Per Unit
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 201 Answer: a. Total contribution margin (a) $60,000 Total unit sales (b) 3,000 units Unit contribution margin (a) ÷ (b) $20 per
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Exam Prep
Accounting Chapter 5 12 Dollar Sales To Attain Target Profit
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 242) Hamernik, Inc., produces and sells a single product whose selling price is $240.00 per unit and whose variable expense is $72.00 per unit. The company's fixed expense is $372,960
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Exam Prep
Accounting Chapter 5 2 Explanation Ratio Contribution Margin Sales 128000 
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 47) Carver Corporation produces a product which sells for $40. Variable manufacturing costs are $18 per unit. Fixed manufacturing costs are $5 per unit based on the current level of
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Exam Prep
Accounting Chapter 5 3 What Should The Overall Effect The Companys
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 67) Sabv Corporation's break-even-point in sales is $675,000, and its variable expenses are 75% of sales. If the company lost $24,000 last year, sales must have amounted to: A) $651,000
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Exam Prep
Accounting Chapter 5 4 Fixed Costs Are 76800 Per Month And The
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 87) Wimpy Inc. produces and sells a single product. The selling price of the product is $150.00 per unit and its variable cost is $58.50 per unit. The fixed expense
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Exam Prep
Accounting Chapter 5 5 Sales Variable Expenses 2000 Units 35
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 107) Mcmurtry Corporation sells a product for $170 per unit. The product's current sales are 10,000 units and its break-even sales are 8,100 units. The margin of safety as a
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Exam Prep
Accounting Chapter 5 6 Cement Manufacturer Has Supplied The
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 130) Keomuangtai Corporation produces and sells a single product. The company has provided its contribution format income statement for October. Sales (4,600
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Exam Prep
Accounting Chapter 5 7 Contribution Margin Sales 37500 25 Dollar Sales
121 148) Remmel Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales (6,000 units) $ 300,000 Variable expenses 240,000 Contribution margin 60,000 Fixed expenses 59,000
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Exam Prep
Accounting Chapter 5 8 What Should The Overall Effect The Companys Monthly
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 168) A manufacturer of cedar shingles has supplied the following data: Bundles of cedar shakes produced and sold 360,000 Sales
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Exam Prep
Accounting Chapter 5 9 Easy Topic Target Profit Analysis Learning Objective 0506 Determine
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 188) Data concerning Sinisi Corporation's single product appear below: Selling price per unit $ 200.00 Variable expense per unit $ 58.00 Fixed
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Exam Prep
Accounting Chapter 6 1 Objective 0601 Explain How Variable Costing Differs
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Chapter 6 Variable Costing and Segment Reporting: Tools for Management 1) Variable manufacturing overhead costs are treated as product costs under both
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Exam Prep
Accounting Chapter 6 10 Prepare Income Statements Using Both Variable And Absorption
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 158) Plummer Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 44 Manufacturing
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Exam Prep
Accounting Chapter 6 11 Smidt Corporation Has Provided The Following Data For Its Two Most
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 170) The Southern Corporation manufactures a single product and has the following cost structure: Variable costs per unit: $ 38 Production
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Exam Prep
Accounting Chapter 6 12 Variable Selling And Administrative Expense Per Unit Sold Fixed Selling
221 185) Mandato Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 68 Manufacturing costs: Variable manufacturing cost per unit produced:
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Exam Prep
Accounting Chapter 6 13 Krepps Corporation Produces A Single Product
241 198) Moskowitz Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 91 Manufacturing costs: Variable manufacturing cost per unit produced:
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Exam Prep
Accounting Chapter 6 14 West Business Segmenta Properly Constructed Segmented Income
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 215) Azuki Corporation operates in two sales territories, Urban and Rural. Data concerning last year's operations appear below: Urban Rural
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Exam Prep
Accounting Chapter 6 15 Traceable Fixed Expenses Segment Ratio 149000 
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 232) Bertie Corporation has two divisions: Retail Division and Wholesale Division. The following data are for the most recent operating period: Total Company Retail Division
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Exam Prep
Accounting Chapter 6 17 Succulent Juice Corporation Manufactures And Sells
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 263) Succulent Juice Corporation manufactures and sells premium tomato juice by the gallon. Succulent just finished its first year of operations. The following data relates to this first year:
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Exam Prep
Accounting Chapter 6 2 Explain How Variable Costing Differs From Absorption
21 47) Rhea Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 67 Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials $ 10
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Exam Prep
Accounting Chapter 6 3 Medium Topic Variable Costing Contribution Format Income Statement Learning
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 41 Answer: D Explanation: Absorption costing unit product costs: Year 2 Direct materials $ 13 Direct labor 7 Variable manufacturing overhead
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Exam Prep
Accounting Chapter 6 4 Objective 0604 Prepare Segmented Income Statement That
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 74) Last year, Tinklenberg Corporation's variable costing net operating income was $52,400 and its inventory decreased by 1,400 units. Fixed manufacturing overhead cost was $8 per unit for both units
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Exam Prep
Accounting Chapter 6 5 The Break-even In Sales Dollars For Division N Is
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 89) Delisa Corporation has two divisions: Division L and Division Q. Data from the most recent month appear below: Total Company Division L Division Q
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Exam Prep
Accounting Chapter 6 6 Gabuat Corporation, Which Has Only One Product, Has Provided 
101 108) Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Columbia Corporation Income Statement For the Month ended November 30 Sales ($30 per unit) $ 1,200,000 Variable expenses: Variable cost of goods sold 720,000 Variable
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Exam Prep
Accounting Chapter 6 7 Explain How Variable Costing Differs From Absorption Costing 
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 121 Answer: D Explanation: Variable selling and administrative ($7 per unit × 2,200 units sold) $ 15,400 Fixed manufacturing overhead
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Exam Prep
Accounting Chapter 6 8 Farris Corporation, Which Has Only One Product, Has Provided
141 133) Elison Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 111 Units in beginning inventory 0 Units produced 7,500
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Exam Prep
Accounting Chapter 6 9 Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 145) Wolanski Corporation has provided the following data for its most recent year of operations: Selling price per unit $ 48 Manufacturing costs:
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Exam Prep
Accounting Chapter 7 1 Which Of The Following Would Probably The Most
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Chapter 7: Activity-Based Costing: A Tool to Aid Decision Making 1) When a company shifts from a traditional cost system in which manufacturing overhead is
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Exam Prep
Accounting Chapter 7 10 Distribution Of Resource Consumption Across Activity Cost Pools
181 184) Aresco Corporation manufactures two products: Product G51B and Product E48X. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for
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Exam Prep
Accounting Chapter 7 11 Product And Product The Companyexpects Produce And
201 195) Lakey Corporation has an activity-based costing system with three activity cost pools— Machining, Setting Up, and Other. The company's overhead costs have already been allocated to the cost pools and total $11,000 for the Machining cost pool, $26,200 for the Setting Up cost pool, and $9,800 for the Other
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Exam Prep
Accounting Chapter 7 3 Using The ABC System, How Much Total Manufacturing Overhead Cost Would Be
41 Explanation: The activity rates for each activity cost pool are computed as follows: Total Cost Total Activity Activity Rate Assembly $846,040 52,000 machine-hrs $16.27/machine-hr Processing orders $64,056 1,700 orders $37.68/order Inspection $102,408 1,360 inspect.-hrs $75.30/inspect-hr The overhead cost charged to Product Q79Y is:
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Exam Prep
Accounting Chapter 7 6 Direct Cost Data Sales Total Direct Materials Total Direct Labor
101 Meester Corporation has an activity-based costing system with three activity cost pools— Machining, Order Filling, and Other. In the first stage allocations, costs in the two overhead accounts, equipment depreciation and supervisory expense, are allocated to three activity cost pools based on resource consumption. Data used in the first stage
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Exam Prep
Accounting Chapter 7 7 What Is The Overhead Cost Assigned To Product Q1 Under
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 127) What is the product margin for Product W1 under activity-based costing? A) $7,996 B) $23,356 C) -$12,800 D) $35,200 121 Answer: A Explanation:
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Exam Prep
Accounting Chapter 7 8 Handal Corporation Uses Activity-based Costing To Compute
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 149) The cost per unit of Product B is closest to: A) $41.58 B) $81.53 C) $74.73 D) $17.69 141 Answer: A Explanation:
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Exam Prep
Accounting Chapter 7a 4 Number Of Queries Resolved (a)Time-driven Activity Rate
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 37) Choi Corporation is conducting a time-driven activity-based costing study in its Order Fulfillment Department. The company has provided the following data to aid in that study: Activity Data: Processing
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Exam Prep
Accounting Chapter 8 10 October Should Bea 460 Per Direct Labor Hour
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 182) Smith Corporation makes and sells a single product called a Pod. Each Pod requires 1.4 direct labor-hours at $9.60 per direct labor-hour. The direct labor workforce is fully
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Exam Prep
Accounting Chapter 8 12 If 68,300 Pounds Of Raw Materials Are Needed For Production In March
221 216) Capes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow: • Sales are budgeted at $390,000 for November, $360,000 for December, and $340,000 for January. • Collections are expected to be 85% in the month of sale and 15% in
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Exam Prep
Accounting Chapter 8 13 The Expected Cash Collections For February Are
241 222) Botz Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: > The budgeted selling price per unit is $94. Budgeted unit sales for April, May, June, and July are 8,200, 10,600, 10,100, and
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Exam Prep
Accounting Chapter 8 14 The Direct Labor Budget Of Faver Corporation For The Upcoming
253 b. The materials purchase budget (based on the above production budget) would be as follows: January February March Units to be produced 24,200 41,000 57,000 Switches per unit 3
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Exam Prep
Accounting Chapter 8 3 With The Number Of Workers Currently Employed That
41 The budgeted raw material purchases for February are computed as follows: Required production in units of finished goods 11,500 Units of raw materials needed per unit of finished goods
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Exam Prep
Accounting Chapter 8 6 The Budgeted Raw Material Purchases For August Are Computed As
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 108) If 54,480 pounds of raw materials are required for production in June, then the budgeted cost of raw material purchases for May is closest to: A) $148,752
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Exam Prep
Accounting Chapter 8 8 The Estimated Cost Of Goods Sold For February Is Closest To
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 141) The budgeted required production for February is closest to: A) 11,020 units B) 14,200 units C) 10,600 units D) 17,380 units 141 Answer: A Explanation:
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Exam Prep
Accounting Chapter 9 1 Prepare Planning Budget And Flexible Budget And
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Managerial Accounting, 16e (Garrison) Chapter 9: Flexible Budgets and Performance Analysis 1) If activity is higher than expected, total fixed costs should be higher than expected. If activity is
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Exam Prep
Accounting Chapter 9 10 Rhed Kennel Uses Tenant-days As Its Measure Of Activity;
181 207) Tennies Clinic uses client-visits as its measure of activity. During November, the clinic budgeted for 3,300 client-visits, but its actual level of activity was 3,290 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for November: Data
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Exam Prep
Accounting Chapter 9 11 The Kennel Has Provided The Following Data Concerning
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Malander Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During November, the kennel budgeted for 3,400
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Exam Prep
Accounting Chapter 9 12 November Would Closest Toa 530 Ub 510
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 221 Answer: B Explanation: Revenue per unit $ 27.80 Total variable expense per unit
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Exam Prep
Accounting Chapter 9 13 During February The Clinic Budgeted For 2200 Client Visits
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 255) Meinke Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During April, the kennel budgeted for
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Exam Prep
Accounting Chapter 9 14 Because The Flexible Budget Is Less Than The Planning Budget
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 275) Rogstad Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During March, the company budgeted for
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Exam Prep
Accounting Chapter 9 15 Education 303 Prestridge Corporation Service Company That Measures
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 281 Answer: D Explanation: Revenue per tenant-day $ 27.30 Total variable expense per tenant-day
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Exam Prep
Accounting Chapter 9 16 Isadore Hospital Bases Its Budgets On Patient-visits
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 313) Brong Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates
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Exam Prep
Accounting Chapter 9 17 The Company Expected Its Activity July 204 Press
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 331) Dinham Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During March, the kennel budgeted for
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Exam Prep
Accounting Chapter 9 18 Occupancy Expenses Are8100 Per Month Plus 200
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 349) Mansour Memorial Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for February was based on 3,000 meals, but the diner
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Exam Prep
Accounting Chapter 9 19 The Diner’s Director Has Provided The Following Cost Formulas To Use
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 369) Varcoe Corporation bases its budgets on the activity measure customers served. During September, the company planned to serve 30,000 customers, but actually served 25,000 customers. Revenue is $3.80 per
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Exam Prep
Accounting Chapter 9 21 Objective 0902 Calculate And Interpret Activity Variances
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Learning Objective: 09-01 Prepare a planning budget and a flexible budget and understand how they differ from one another.; 09-03 Calculate and interpret revenue and spending variances.
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Exam Prep
Accounting Chapter 9 22 A Performance Report Combining Activity And Revenue And Spending
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Faculty wages $ 0 $ 0 $ 2,600 Course supplies $ 0 $ 38 $ 23 Administrative expenses
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Exam Prep
Accounting Chapter 9 3 During That Month 19600 Units Were Produced Budgeted
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 63) Groupe Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. The cost formula for plane operating costs is $48,840
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Exam Prep
Accounting Chapter 9 4 During January, The Kennel Budgeted For 2,700 Tenant Days, But Its Actual Level
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 83) Herrod Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The cost formula for catering supplies is $570 per
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Exam Prep
Accounting Chapter 9 5 Virgen Kennel Uses Tenant-days As Its Measure Of Activity; An Animal Housed
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 104) Hubbard Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During January, the kennel budgeted for
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Exam Prep
Accounting Chapter 9 6 Corporation Shipping Container Refurbishment Company
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 122) Kekiwi Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During January, the company budgeted for
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Exam Prep
Accounting Chapter 9 7 A Explanation Cost Fixed Cost Variable Cost Per
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 146) Grohs Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During December, the kennel budgeted for
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Exam Prep
Accounting Chapter 9 8 April The Company Planned For Activity Boats But
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 164) Leven Clinic uses client-visits as its measure of activity. During September, the clinic budgeted for 3,000 client-visits, but its actual level of activity was 3,050 client-visits. The clinic has
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Exam Prep
Accounting Chapter 9 9 The Amount Shown For Revenue In The Planning Budget For April
Copyright 2019 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 188) Dure Corporation's cost formula for its selling and administrative expense is $24,500 per month plus $1 per unit. For the month of July, the company planned for activity of
Loose Leaf for Managerial Accounting 16th Edition

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