MinhNguyen Q3 25jan21 02

Please do not (otherwise you will jeopardise the g
-rename this workbook

-rename any sheets
-insert any columns into a sheet
-insert any rows into a sheet
Read the Multiple Choice and Excel assignment(s

You have to complete every cell colored ye
For every cell colored yellow, you have to d

Dropdown -> Every cell with a dropdow
Value -> enter the appropriate numeri
Formula -> enter the appropriate form
Array Formula -> enter the appropriate
The initial due date/time for this assignment is S

The retake due date/time for this assignment is
Assignment Instructions
Quiz: 3
opardise the grading process):
assignment(s) carefully and do the following:

cell colored yellow
you have to decide:

with a dropdown, choose the appropriate response from the dropdow
priate numeric, date/time or text value
propriate formula e.g. '=A1+B1' press Enter
he appropriate array formula e.g. '=LINEST(A1:A12, B1:B12, True, Tru
ssignment is Sunday, February 01, 2015 --- 6:00:00 PM
assignment is Sunday, February 01, 2015 --- 6:00:00 PM
ns
m the dropdown
:B12, True, True)' press Ctrl+Shift+Enter
MC-001
A.
B.
C.
D.
E.
Answer: A.
MC-002
A manager of a small manufacturing firm is interested in knowing what the co

Product design cost
Direct materials
Selling expenses
Office expenses
Advertising expense
Examine this diagram.
What does this diagram represent - choose the best answer.

A.
B.
C.
D.
E.
Answer: D.
MC-003
Total
Total
Total
Total
Total
variable cost
fixed cost
cost over a wide range of output
cost and the relevant range
cost over the relevant range
Assume the following information pertaining to Cub Company:

Prime costs
Conversion costs
Direct materials used
$228,300
$257,900
$96,600
Beginning work in process

Ending work in process
$112,500
$92,700
Direct labor used is calculated to be:

A.
B.
C.
D.
E.
Answer: A.
MC-004
$131,700
$92,700
$354,500
$354,500
$228,300

Prime costs
Conversion costs
$200,600
$225,000
$89,100
$100,700
$82,000
Total manufacturing cost is calculated to be:

A.
B.
C.
D.
E.
Answer: B.
MC-005
A.
B.
C.
D.
E.
Answer: A.
$111,500
$314,100
$89,100
$113,500
$332,800
$314,100
Variable costs within the relevant range for a firm are assumed:
Not to vary per unit
To be curvilinear
Not to vary in total
To be nonlinear
None of the above are correct
MC-006
This diagram shows:
Selected examples of costs, cost pools, cost objects and cost drivers in autom
Selected examples of costs, cost pools, cost objects and cost drivers in applian
This diagram shows the relationships between costs and cost objects in manu
Selected examples of costs, cost pools, cost objects and cost drivers in televis
This diagram shows the relationships between costs, cost pools and cost objec
MC-007
Stephenson Company's computer system recently crashed, erasing much of t
A.
B.
C.
D.
E.
Answer: B.
Cost of Goods Sold

Work-in-Process Inventory, Beginning
Work-in-Process Inventory, Ending
Selling and Administrative Expense
Finished Good Inventory, Ending

Direct Materials Purchased
Factory Overhead Applied
Operating Income
Direct Materials Inventory, Ending
Cost of Goods Manufactured
Direct Labor
The CFO of Stephenson Company has asked you to recalculate the following a
What should be the amount of direct materials available for use?
A.
B.
C.
D.
Answer: D.
MC-008
A.
B.
C.
D.
E.
Answer: E.
MC-009
$349,400
$173,300
$338,900
$188,700
The income statement for a manufacturing company includes:

Indirect Labor, Factory Overhead, and Total Manufacturing Cost
Indirect Materials, Factory Overhead, and Cost of Goods Manufactured
Total Manufacturing Cost and Cost of Goods Sold
Indirect Labor, Indirect Materials and Cost of Goods Sold
None of the above
Jeffrey's Bottling Co incurred the following costs during November:

Prime costs
Manufacturing overhead
If direct materials cost was $148,800 in November, what was the conversion c
A.
B.
C.
D.
Answer: D.
MC-010
$85,800
$422,000
$196,000
$273,200
$273,200

Cost of Goods Sold
Operating Income
Direct Labor
What should be the amount in the finished goods inventory at the beginning o
A.
B.
C.
D.
Answer: A.
MC-011
A.
B.
C.
D.
Answer: B.
$61,700
$15,400
$406,800
$345,100
$61,700
Factory overhead costs for a given period were 3.3 times as much as the direc
$2,240
$1,623
$3,043
$617
MC-012
A.
B.
C.
D.
Answer: B.
MC-013
The total manufacturing cost consists of the costs for materials used, labor, an
Step cost
Overhead cost
Prime cost
Average cost
Cost of Goods Sold

Operating Income
Direct Labor
What should be the amount of direct materials used?
A.
B.
C.
D.
Answer: C.
$451,400
$415,700
$217,500
$202,400
MC-014
A.
B.
C.
D.
Answer: C.
MC-015
A.
B.
C.
D.
E.
Answer: A.
MC-016
Which of the following is not an example of a product cost?

Salary of manufacturing supervisor
Depreciation on company-owned manufacturing plant
Depreciation on company-owned sales outlets
Power for equipment
When cost relationships are linear, total variable costs will vary in proportion t
Volume of production
Total material cost
Machine hours
Direct labor hours
Total overhead cost
Examine this diagram.
What does this diagram represent - choose the best answer.
Income Statements and Cash Flow for Manufacturing and Merchandising Com
Income Statements for Manufacturing and Merchandising Companies
Cost flows in manufacturing and merchandising firms
Account relationships for manufacturing and merchandising companies
Financial Statements for Manufacturing and Merchandising Companies
MC-017
Conrad, Inc. recently lost a portion of its records in an office fire. The following
A.
B.
C.
D.
E.
Answer: B.
Cost of Goods Sold

Finished Goods Inventory, Ending
Operating Income
Direct Materials Inventory, Beginning
Direct Materials Inventory, End
Direct labor cost incurred during the period amounted to 1.6 times the factory
What is the amount of total manufacturing cost?

A.
B.
C.
D.
Answer: A.
MC-018
$61,000
$71,700
$66,700
$62,400
Consider the following for Guardian Manufacturing Company:

Change in finished goods inventory
Change in work-in-process inventory
Total manufacturing costs
What are the cost of goods manufactured and cost of goods sold?
Cost of goods
Cost of goods
manufactured
sold
A)
$851
$875
B)
$531
$187
C)
$691
$1,035
D)
$531
$531
What are the cost of goods manufactured and cost of goods sold?
A.
B.
C.
D.
Answer: A.
MC-019
Option
Option
Option
Option
B
D
C
A
This diagram shows:
This diagram shows the relationships between costs and cost pools
This diagram shows the relationships between costs, cost pools and cost objec
This diagram shows the relationships between costs and cost objects in manu
Internal accounting controls
None of the above
MC-020
Theoretically, a decision maker would probably be willing to buy cost managem
A.
B.
C.
D.
E.
Answer: B.
A.
B.
C.
D.
Answer: A.
MC-021
Its value is equal to or greater than its cost

It is consistent with management objectives
It is timely
It is accurate
Cost of Goods Sold
Operating Income
What is the amount of direct materials purchased?

A.
B.
C.
D.
Answer: C.
MC-022
$35,920
$29,220
$23,820
$30,520
Woodcarving Co incurred the following costs during May:

Conversion costs
Prime costs
What was the amount of direct materials and direct labor used in May?
Direct materials
Option A
$392,800
Option B
$75,700
Option C
$248,000
Option D
$148,100
A.
B.
C.
D.
Answer: C.
MC-023
Option
Option
Option
Option
C
A
B
D
The following information was taken from the accounting records of Elliott Man
Sales Revenue
Finished Good Inventory, Beginning
Gross Margin
Direct Materials Used
Operating Income
Direct Labor Used

Factory Overhead
Cost of goods manufactured is calculated to be:
A.
B.
C.
D.
E.
Answer: B.
MC-024
$42,700
$36,500
$40,200
$32,800
$38,100
Cost of Goods Sold

Operating Income
What is the amount of net sales?
A.
B.
C.
D.
Answer: A.
$100,600
$15,100
$85,500
$116,900
MC-025
Cost of Goods Sold

Operating Income
Direct Labor
What should be the amount of direct materials used?
Answer:
A.
B.
C.
D.
A.
$202,400
$184,600
$413,100
$381,600
MC-026
Prime costs
Conversion costs
Factory overhead is calculated to be:
A.
B.
$94,000
$122,800
$216,800
$245,000
$94,000
$106,700
$89,100
C.
D.
E.
Answer: D.
MC-027
$356,600
$122,200
$339,000
Cost of Goods Sold

Operating Income
What is the amount of direct materials used?
A.
B.
C.
D.
Answer: C.
MC-028
$40,620
$35,320
$28,920
$23,620
Tierney Construction, Inc. recently lost a portion of its financial records in an o
Cost of Goods Sold

Work-in-Process Inventory, January 1, 2015
Work-in-Process Inventory, December 31, 2015
Net Income
Factory overhead
Direct materials inventory, January 1, 2015
Direct materials inventory, December 31, 2015
Cost of goods manufactured
Finished goods inventory, January 1, 2015
What should be the amount of direct materials purchased?
A.
B.
C.
D.
Answer: B.
MC-029
$144,000
$5,440
$18,840
$105,100
Tierney Construction, Inc. recently lost a portion of its financial records in an o
Cost of Goods Sold

Work-in-Process Inventory, January 1, 2015
Work-in-Process Inventory, December 31, 2015
Net Income
Factory overhead
Direct materials inventory, January 1, 2015
Direct materials inventory, December 31, 2015
Finished goods inventory, January 1, 2015
What should be the amount of total manufacturing cost?
A.
B.
C.
D.
Answer: D.
MC-030
$113,400
$80,100
$99,000
$95,200
Cost of Goods Sold
Operating Income
What is the amount of total manufacturing cost?
A.
B.
C.
D.
Answer: C.
$69,700
$65,300
$59,000
$60,500
MC-031
Cost of Goods Sold

Operating Income
Direct Labor
What should be the amount of total manufacturing cost?
Answer:
A.
B.
C.
D.
A.
The income statement for a merchandising company includes:
MC-032
A.
B.
C.
D.
E.
Answer: C.
MC-033
$431,600
$468,800
$419,600
$225,900
Factory Overhead
Total Manufacturing Cost
Cost of Goods Sold
Direct Labor
None of the above
The term relevant range as used in cost accounting means the range over wh
A. Cost relationships are approximately linear
B. Production may vary
C. Relevant costs are incurred

D. Costs may fluctuate
Answer: A.
MC-034
A.
B.
C.
D.
E.
Answer: A.
MC-035
Direct materials and direct labor costs total $69,810 and factory overhead cos
$89,810
$69,810
$20,000
$49,810
$70,010

Cost of Goods Sold
Operating Income
Direct Labor
What should be the amount of direct materials available for use?
A.
B.
C.
D.
Answer: C.
$373,400
$190,200
$204,700
$384,400
in knowing what the company's product costs are Which of the following would be considered a produ
assumed:
Direct labor
Over Head
$111,500
$113,500
nd cost drivers in automobile manufacturing

nd cost drivers in appliance manufacturing
nd cost objects in manufacturing
nd cost drivers in television manufacturing
ost pools and cost objects in manufacturing
shed, erasing much of the Company's financial data. The following accounting information was discove
eginning
$381,200
$29,900
$40,400
$50,500
$15,300
$173,300
$111,700
$22,100
$6,000
$338,900
$55,000
calculate the following accounts and report to him by week's end.
le for use?
ncludes:
ring Cost
ds Manufactured
g November:
$234,600
$187,400
at was the conversion cost for November?
$391,400
$30,500
$40,700
$51,900
$15,400
$177,700
$115,200
$22,400
$6,100
$345,100
$56,400
ntory at the beginning of the year?
es as much as the direct material costs Prime costs totaled $2,240 Conversion costs totaled $3,660 W
materials used, labor, and ________
eginning
$452,200
$35,700
$46,900
$59,200
$17,800
$202,400
$133,100
$26,200
$7,100
$404,500
$65,100
will vary in proportion to changes in:
and Merchandising Companies

ing Companies
dising companies
ising Companies
office fire. The following information was salvaged from the accounting records.
eginning
eginning
$66,700
$10,700
$9,300
$15,800
$15,300
$12,600
$14,200
$11,300
$6,200
$62,400
to 1.6 times the factory overhead. The CFO of Fisher, Inc. has asked you to recalculate the following ac
goods sold?
of goods
goods sold?
$344 increase
$160 increase
$691
nd cost pools
ost pools and cost objects in manufacturing
nd cost objects in manufacturing
ng to buy cost management information if:
$72,400
$11,700
$10,000
$16,800
$16,900
$13,400
$15,400
$12,100
$6,700
$67,100
$468,500
$396,100
$320,400
bor used in May?

Direct labor
$72,400
$220,500
$148,100
$75,700
ng records of Elliott Manufacturing Corp. Unfortunately, some of the data were destroyed by a comput
$71,000
$11,100
$7,400
$30,800
$12,300
$17,200
$6,200
$11,000
$14,800
eginning
eginning
$69,200
$11,300
$9,900
$16,300
$16,100
$13,000
$15,100
$11,600
$6,400
$65,000
$406,600
$31,500
$42,700
$54,300
$16,200
$184,600
$120,600
$23,700
$6,400
$370,400
$58,600
eginning
eginning
$70,100
$11,300
$9,600
$16,000
$16,100
$12,800
$15,000
$11,700
$6,400
$63,900
financial records in an office theft. The following accounting information remained in the office files:
anuary 1, 2015
December 31, 2015
anuary 1, 2015
December 31, 2015
nuary 1, 2015
$88,900
$20,600
$16,000
$17,800
$33,500
$22,700
$29,000
$15,600
$109,700
$34,300
to 2.8 times the factory overhead. The CFO of Tierney Construction, Inc. has asked you to recalculate t
financial records in an office theft. The following accounting information remained in the office files:
anuary 1, 2015
December 31, 2015
anuary 1, 2015
December 31, 2015
nuary 1, 2015
$80,100
$18,200
$14,400
$15,800
$30,200
$20,000
$26,100
$13,800
$99,000
$31,300
to 2.5 times the factory overhead. The CFO of Tierney Construction, Inc. has asked you to recalculate t
$65,300
$10,700
$9,200
$15,100
$15,400
$12,100
$14,400
$11,600
$6,100
$60,500
$470,600
$37,200
$49,200
$61,600
$18,400
$213,300
$137,700
$26,900
$7,300
$419,600
$68,000
ncludes:
eans the range over which:
nd factory overhead costs total $100 per machine hour If 200 machine hours were used for Job #333, w
$421,900
$33,400
$44,400
$55,700
$16,600
$190,200
$125,400
$24,100
$6,700
$373,400
$61,000
le for use?
would be considered a product cost for the manager's company?
ting information was discovered soon afterwards on the CFO's back-up computer disk.
sion costs totaled $3,660 What are the direct labor costs for the period?
o recalculate the following accounts and to report to him by the end of the day.
were destroyed by a computer malfunction.
mained in the office files:
as asked you to recalculate the following accounts and to report to him by the end of tomorrow.
mained in the office files:
as asked you to recalculate the following accounts and to report to him by the end of tomorrow.
urs were used for Job #333, what is the total manufacturing cost for Job #333?
mputer disk.
mputer disk.
mputer disk.
mputer disk.
the end of tomorrow.
the end of tomorrow.
mputer disk.
mputer disk.
Roadmaster Equipment is an up-scale, higher-priced, specialty road construction equipment maker based in Irvine, California. The management accountant for Roadmaster compiled information for various levels of output in units.
Excel Instructions
Required:
Range name(s)
Complete the yellow cells with the appropriate algebra.
Complete the one variable data table
Output
Basic Model
Units
Units
Variable production costs
Fixed production costs
Variable selling costs
Fixed selling costs
Total costs
Selling price per unit
Unit cost
Profit per unit
2,900
156,000,000
$224,200,000
34,500,000
13,400,000
$428,102,900
149,100
$147,622
$1,478
6,100
$328,137,931
224,200,000
$72,568,966
$13,400,000
$638,306,897
149,100
$104,640
$44,460
8,600
$462,620,690
$224,200,000
$102,310,345
$13,400,000
$802,531,034
149,100
$93,318
$55,782
Data table
Increments of 500, starting at 500
$1,479
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
8,500
9,000
9,500
10,000
10,500
11,000
11,500
12,000
Profit Per Unit
Looking at the chart carefully, how many units must be produced and sold for a unit to be profitable - thought and attention to detail is required.
2850
Hint:
Change the units on the horizontal axis to assist with this task, if necessary.
Variable production costs

Fixed production costs
Variable selling costs
Fixed selling costs
Total costs
Selling price per unit
Unit cost
Profit per unit
2,900
Per Unit
$53,793
$11,897
$149,100
Total
$156,000,000
$224,200,000
$34,500,000
$13,400,000
$428,100,000
$149,100
$147,621
$1,479
Range name
Scope
Comment
Refers to
Name # 1
S083'!Xaxis
Workbook
=$B$21:$B$44
Name # 2
S083'!Yaxis
Workbook
=$C$21:$C$44
Chart(s) Instructions - charts have many properties, only the following properties will you set.
Chart # 1
Chart location
$E$20
Chart name
Chart 1
Chart type
Scatter with Smoothed Lines and No Data Markers
Chart width
12
Chart height
5
Series 1
Series
Name: Series1
Series values: $C$21:$C$44
Axis labels: $B$21:$B$44
Series color: Automatic
Chart title
Title: Profit Per Unit
Font bold: True
Font size: 18
Title: Output
Horizontal axis
Tick labels format: #,##0;[Red]#,##0
Title: No axis title
Vertical axis
Tick labels format: $#,##0;[Red]$#,##0
Legend
Red 198, Green 217, Blue 241
Chart area color
Red 239, Green 243, Blue 234
Plot area color
Choco Chocolata is a cookie company in Juarez, Mexico that produces and sells American-styl
Required:
Complete the yellow cells.
Prepare the pivottable as per the instructions.
kie company in Juarez, Mexico that produces and sells American-style chocolate chip cookies with extr
te the yellow cells.

from the dropdowns select the appropriate cost - i.e. product or period
the pivottable as per the instructions.
Cost
Utilities for the bakery
Paper used in packaging product

Salaries and wages in the bakery
Cookie ingredients
Bakery labor fringe benefits
Administrative costs
Bakery equipment maintenance
Depreciation of bakery plant and equipment
Uniforms for bakers
Insurance for the bakery
Rent for administration offices
Advertising
Boxes, bags, and cups used in the bakery
Office Manager's salary
Overtime premiums
Idle Time
Use a formula referencing the pivot table

Total products costs
Total period costs
hip cookies with extremely high quality and service. The owner would like to identify the various costs
Amount
Product or Period
$1,900 Product
$150 Product
$20,510 Product
$32,710 Product
$1,050 Product
$1,930 Period
$680 Product
$1,820 Product
$590 Product
$780 Product
$14,000 Period
$2,870 Period
$960 Period
$10,740 Period
$2,300 Product
$420 Period
Total Cost
$62,490
$30,920
d like to identify the various costs incurred during each year in order to plan and control the costs in th
Sum - Amount
Cost
Administrative costs
Advertising
Bakery equipment maintenance
Bakery labor fringe benefits
Boxes, bags, and cups used in the bakery
Cookie ingredients
Depreciation of bakery plant and equipment
Idle Time
Insurance for the bakery
Office Manager's salary
Overtime premiums
Paper used in packaging product
Rent for administration offices
Salaries and wages in the bakery
Uniforms for bakers
Utilities for the bakery
Total Result
to plan and control the costs in the business. Chocolata's costs are the following (in thousands of peso
Product or Period
Period
Product
Total Result
$1,930
$2,870
$680
$1,050
$960
$32,710
$1,820
$420
$780
$10,740
$2,300
$150
$14,000
$30,920
$20,510
$590
$1,900
$62,490
$1,930
$2,870
$680
$1,050
$960
$32,710
$1,820
$420
$780
$10,740
$2,300
$150
$14,000
$20,510
$590
$1,900
$93,410
llowing (in thousands of pesos):
Excel Instructions
Pivot table(s) - PTs have many properties, only the following p

PT name
Column field(s)
Row field(s)
Data field(s)
Location
Data type
Style
many properties, only the following properties will you set.

Pivot table # 1
PivotTable1
custom name: Product or Period
sort field: Product or Period
custom name: Cost
sort field: Cost
sort order: Auto sort order
custom name: Sum of Amount
consolidation function: Sum
number format: $#,##0
$I$10
Microsoft Excel list or database
$C$10:$E$26
PivotStyleDark6
set.
A computer virus destroyed some of the accounting records for Hampton Furniture Company
Required:
Complete the yellow cells with the appropriate algebra.
Beginning direct materials

Purchase of direct materials
Ending direct materials
Direct labor
Total manufacturing costs
Beginning work-in-process inventory
Ending work-in-process inventory
Beginning finished goods inventory
Ending finished goods inventory
Cost of goods sold
Net Sales
Selling and Administrative Expenses
Net Income
s for Hampton Furniture Company for the periods of 2011-2013. The following information was salvage
riate algebra.
ss inventory
inventory
e Expenses
12/31/2013
45,427
$63,256
28,921
79,762
$160,833
86,723
$327,318
29,335
18,456
327,318
30,596
$63,252
294,662
476,848
102,854
$79,332
wing information was salvaged from the computer system.
12/31/2014
$28,921
53,562
39,294
43,189
137,177
$85,199
265,565
$18,456
24,037
$259,984
$63,252
34,654
288,582
381,741
$51,427
41,732
12/31/2015
39,294
58,648
$30,255
$67,687
149,149
109,487
326,323
24,037
$72,087
278,273
34,654
33,098
$279,829
$416,140
101,079
35,232
Excel Instructions

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Please do not (otherwise you will jeopardise the g

-rename this workbook

Read the Multiple Choice and Excel assignment(s

For every cell colored yellow, you have to d

The initial due date/time for this assignment is S

opardise the grading process):

assignment(s) carefully and do the following:

you have to decide:

ssignment is Sunday, February 01, 2015 --- 6:00:00 PM

assignment is Sunday, February 01, 2015 --- 6:00:00 PM

:B12, True, True)' press Ctrl+Shift+Enter

A manager of a small manufacturing firm is interested in knowing what the co

Examine this diagram.

What does this diagram represent - choose the best answer.

Assume the following information pertaining to Cub Company:

Beginning work in process

Direct labor used is calculated to be:

Assume the following information pertaining to Cub Company:

Total manufacturing cost is calculated to be:

This diagram shows:

Stephenson Company's computer system recently crashed, erasing much of t

Cost of Goods Sold

Finished Good Inventory, Ending

The income statement for a manufacturing company includes:

Jeffrey's Bottling Co incurred the following costs during November:

Stephenson Company's computer system recently crashed, erasing much of t

Stephenson Company's computer system recently crashed, erasing much of t

Cost of Goods Sold

Which of the following is not an example of a product cost?

Examine this diagram.

What does this diagram represent - choose the best answer.

Cost of Goods Sold

What is the amount of total manufacturing cost?

Consider the following for Guardian Manufacturing Company:

This diagram shows:

Theoretically, a decision maker would probably be willing to buy cost managem

Its value is equal to or greater than its cost

What is the amount of direct materials purchased?

Woodcarving Co incurred the following costs during May:

Direct Labor Used

Cost of Goods Sold

Stephenson Company's computer system recently crashed, erasing much of t

Cost of Goods Sold

Assume the following information pertaining to Cub Company:

Cost of Goods Sold

Tierney Construction, Inc. recently lost a portion of its financial records in an o

Cost of Goods Sold

Tierney Construction, Inc. recently lost a portion of its financial records in an o

Cost of Goods Sold

Stephenson Company's computer system recently crashed, erasing much of t

Cost of Goods Sold

The income statement for a merchandising company includes:

Stephenson Company's computer system recently crashed, erasing much of t

nd cost drivers in automobile manufacturing

calculate the following accounts and report to him by week's end.

at was the conversion cost for November?

calculate the following accounts and report to him by week's end.

ntory at the beginning of the year?

materials used, labor, and ________

calculate the following accounts and report to him by week's end.

will vary in proportion to changes in:

and Merchandising Companies

ng to buy cost management information if: