Acct 202 exam - Study guides, Class notes & Summaries

(4) Cabinets Unlimited uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments: Assembly and Sanding. The Assembly Department uses a departmental overhead rate of $45 per machine hour, while the Sanding Department uses a departmental overhead rate of $25 per direct labor hour. Job 542 used the following direct labor hours and machine hours in the two departments: Actual results for the Assembly Department and Sanding Department Direc...

ACCT 202 Exam 3 Questions with 100% Correct Answers| Already Passed Grade A what happens if no par value is issued for stated value - it becomes legal capital before transferring the ownership right in shares, the stockholder.... - does not need permission from anyone Paid-In Capital - The amount paid into the corporation by the stockholders in exchange for shares of ownership

ACCT 202 FINAL EXAM ACCT 202 FINAL EXAM WITH GUARANTEED ACCURATE ANSWERS |VERIFIED Direct Material Costs - ACCURATE ANSWERAcquisition costs of all materials that eventually become part of the cost object (work in process and then finished goods), and that can be traced to the cost object in an economically feasible way. Direct Labor - ACCURATE ANSWERthe work of factory employees that can be physically and directly associated with converting raw materials into finished goods overhead...

ACCT 202 Exam #1 Questions With Verified Answers...

ACCT 2102 EXAM 1 QUESTIONS WITH CORRECT ANSWERS, 2024

Strategic planning focuses on - long-range decisions A plan that formalizes the overall goals and objectives of a company in financial terms is called a - master budget Pro forma statements are based on - estimates and predictions. Budgets are used - to communicate information across an organization; to plan the future activities of a business, and as a tool in performance evaluation

ACCT 202 Actual Exam Questions with 100% Correct Answers| Already Passed Grade A Planning involves which of the following activities? -Setting goals and objectives for the company Which of the following is being fulfilled when management compares the budget to actual results? - Controlling When management uses feedback to take corrective action on the budgets, which of the following management responsibilities are being fulfilled? -Controlling Which one of the following items is not one o...

Which of the following is a focus of managerial accounting? - to provide information to business managers to assist them in controlling their businesses Managerial accounting focuses on providing information for internal planning and control. - True The cost of direct materials cannot easily be traced to the manufactured product, and therefore, it is a component of manufacturing overhead. - False Manufacturing overhead includes all manufacturing costs, such as direct labor and direct materi...

4) O&G Company manufactures console tables and uses an activity−based costing system. Each console table consists of 30 separate parts totaling $250 in direct materials, and requires 5.0 hours of machine time to produce. Additional information follows: Activity - Allocation Base - Cost Allocation Rate Materials handling - Number of parts - $2.00 per part Machining - Machine hours - $4.70 per machine hour Assembling - Number of parts - $3.00 per part Packaging - Number of finished units ...

Which of the following is a focus of managerial accounting? - to provide information to business managers to assist them in controlling their businesses Managerial accounting focuses on providing information for internal planning and control. - True The cost of direct materials cannot easily be traced to the manufactured product, and therefore, it is a component of manufacturing overhead. - False