Professional Documents
Culture Documents
http://www.uopeassignments.com/University-of-phoenix/ACC-561-Final-Exam.html
[Type here]
Lower taxes.
Harder to transfer ownership.
Most common form of organization.
Reduced legal liability for investors.
Auditors.
Creditors.
Managers.
Investors.
Income statement.
Balance sheet.
Retained Earnings statement.
4. An income statement
That has been arranged from the lowest number to the highest
number.
12. An important feature of a job order cost system is that each job
14. An activity that has a direct cause-effect relationship with the resources
consumed is a(n)
Overhead rate.
Product activity.
cost driver.
cost pool.
16. A cost which remains constant per unit at various levels of activity is a
mixed cost.
[Type here]
fixed cost.
manufacturing cost.
Variable cost.
18. Fixed costs are $600,000 and the contribution margin per unit is $150.
What is the break-even point?
$1,500,000
$4,000,000
1,500 units
4,000 units
[Type here]
19. When a company assigns the costs of direct materials, direct labor, and
both variable and fixed manufacturing overhead to products that company is
using
Product costing.
Operations costing.
Absorption costing.
Variable costing.
Flexible accounting.
Static reporting.
Responsibility accounting.
master budgeting.
25. Internal reports that review the actual impact of decisions are prepared
by
The controller.
Management accountants.
Factory workers.
Department heads.
26. The process of evaluating financial data that change under alternative
courses of action is called
Cost-benefit analysis.
Contribution margin analysis.
Incremental analysis.
Double entry analysis.
[Type here]
28. Carter, Inc. can make 100 units of a necessary component part with the
following costs:
Direct Materials $120,000
Direct Labor 20,000
Variable Overhead 60,000
Fixed Overhead 40,000
If Carter can purchase the component externally for $220,000 and only
$10,000 of the fixed costs can be avoided, what is the correct make-or-buy
decision?
29. A company has a process that results in 15,000 pounds of Product A that
can be sold for $16 per pound. An alternative would be to process Product A
further at a cost of $200,000 and then sell it for $28 per pound. Should
[Type here]
See more question and answers online for ACC 561 Final
Exam