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ACC455 Final Exam 2015: Comprehensive Managerial Accounting: University of Phoenix

A comprehensive exam review of managerial accounting, focusing on cost analysis, decision-making, and variance evaluation.

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    ACC455 Final Exam 2015: Comprehensive Managerial Accounting: Cost Analysis, Decision - Making, and Variance Evaluation - University of Phoenix University of Phoenix ACC455 Final Exam 2015 Report this Question as Inappropriate 1. The per - unit standards for direct labor are 2 direct labor hours at $12 per hour. If in producing 2,400 units, the actual direct labor cost was $51,200 for 4,000 direct labor hours worked, the total direct labor variance is $4,000 unfavorable $6,400 unfavorable $1,920 unfavorable $6,400 favorable 2 . Poodle Company manufactures two products, Mini A and Maxi B. Poodle's overhead costs consist of setting up machines, $800,000; machining, $1,800,000; and inspecting, $600,000. Information on the two products is: Mini A Maxi B Direct labor hours 15,000 25,000 Machine setups 600 400 Machine hours 24,000 26,000 Inspections 800 700 Overhead applied to Mini A using traditional costing using direct labor hours is $1,670,000 $1,536,000 $1,200,000 $1,920,000 3 . Disney’s variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase?

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    $18,000 $12,000 $6,000 $28,000 4 . The cost to produce Part A was $10 per unit in 2005. During 2006, it has increased to $11 per unit. In 2006, Supplier Company has offered to supply Part A for $9 per unit. For the make - or - buy decision, net relevant costs are $1 per unit differential costs are $2 per unit incremental costs are $1 per unit incremental revenues are $2 per unit 5 . Luca Company overapplied manufacturing overhead during 2006. Which one of the following is part of the year end entry to dispose of the overapplied amount assuming the amount is material? An increase to cost of goods sold An increase to finished goods A decrease to work in process inventory A decrease to applied overhead 6 . In most cases, prices are set by the customers selling company largest competitor competitive market 7 . Max Company uses 10,000 units of Part A in producing its products. A supplier offers to make Part A for $7. Max Company has relevant costs of $8 a unit to manufacture Part A. If there is excess capacity, the opportunity cost of buying Part A from the supplier is $0

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    $80,000 $70,000 $10,000 8 . Prices are set by the competitive market when a company can effectively differentiate its product from others the product is specially made for a customer there are no other producers capable of manufacturing a similar item a product is not easily distinguished from competing products 9 . Waco’s Widgets plans to sell 22,000 widgets during May, 19,000 units in June, and 20,000 during July. Waco keeps 10% of the next month’s sales as ending inventory. How many units should Waco produce during June? 19,000 18,900 19,100 21,000 10 . An activity that has a direct cause - effect relationship with the resources consumed is a(n) cost driver product activity cost pool overhead rate 11 . The per - unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 11,200 gallons of direct materials that actually cost $42,400 were used to produce 6,000 units of product. The direct materials quantity variance for last month was $2,400 favorable $5,600 unfavorable $3,200 unfavorable

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