100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Final Examination for ACCT 526 at the University of Louisiana, Lafayette $9.99   Add to cart

Exam (elaborations)

Final Examination for ACCT 526 at the University of Louisiana, Lafayette

 12 views  0 purchase

Final Examination for ACCT 526 at the University of Louisiana, Lafayette...Detailed work, solutions, memos, notes, and explanations

Preview 3 out of 23  pages

  • October 12, 2024
  • 23
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
All documents for this subject (6)
avatar-seller
Excellentstudyresources001
Final Examination for ACCT
526 at the University of
Louisiana, Lafayette

,Question 1
Correct
Mark: 3.00 out of 3.00
Started on Tuesday, 10 October 2017, 8:42 PM
Completed on Tuesday, 10 October 2017, 10:42 PM
Time taken: 2 hours
Grade: 153.00 out of 180.00 (85%)

Overhead costs are allocated to production using an overhead application rate, while direct
materials and direct labor costs are not assigned using such a rate. The reason for this difference
is:
Select one:
a. Overhead is an indirect cost that cannot be easily and directly traced to specific units of
product.
b. Independent of both the number and type of products manufactured and also independent of
the amount of overhead costs incurred.
c. Traceable directly to the products manufactured but independent of the amount of overhead
costs incurred.
d. Independent of the type and number of units manufactured but a causal factor in the amount of
overhead cost incurred.

Your answer is correct.
The correct answer is: overhead is an indirect cost which cannot be traced easily and directly
to specific units of product.

Question 2
Correct
Mark: 3.00 out of 3.00

Question 3
Correct
Mark: 3.00 out of 3.00

An advantage of using regression analysis over the high-low and scattergraph methods is that:
Select one:
a. Neither: regression analysis is less costly to implement than high-low or scattergraph methods
or is a more precise approach than the high-low or scattergraph methods.
b. Regression analysis is less costly to implement than high-low or scattergraph methods.
c. Regression analysis is a more precise approach than the high-low or scattergraph methods.
d. Both: regression analysis is less costly to implement than high-low or scattergraph methods
and is a more precise approach than the high-low or scattergraph methods.

Your answer is correct.
The correct answer is: regression analysis is a more precise approach than the high-low or
scattergraph methods.

, An example of a discretionary fixed cost is:
Select one:
a. Depreciation of buildings and equipment.
b. Insurance.
c. Management training.
d. Taxes on real estate.

Your answer is correct.
The correct answer is: management training.

Question 4
Correct
Mark: 3.00 out of 3.00

Tucker, Inc. collected the following production data for the past month:

 Units Produced: 1,600 | Total Cost: $22,000
 Units Produced: 1,300 | Total Cost: $19,000
 Units Produced: 1,500 | Total Cost: $22,500
 Units Produced: 1,100 | Total Cost: $16,500

If the high-low method is used, what is the monthly total cost equation?
Select one:
a. Total cost = $5,500 + $10/unit
b. Total cost = $0 + $15/unit
c. Total cost = $4,400 + $11/unit
d. Total cost = $3,300 + $12/unit

Your answer is correct.
The correct answer is: Total cost = $4,400 + $11/unit.

Question 5
Correct
Mark: 3.00 out of 3.00

Question 6
Correct
Mark: 3.00 out of 3.00

Roddy Company has the following cost formulas for overhead:

 Indirect materials: $2,000 + $0.40/machine hour
 Maintenance: $1,500 + $0.60/machine hour
 Machine setup: $0.30/machine hour
 Utilities: $200 + $0.10/machine hour
 Depreciation: $800

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Excellentstudyresources001. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67096 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.99
  • (0)
  Add to cart