Acct 202 exam - Study guides, Class notes & Summaries

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

Kahn Company's static budget was based on sales volume of 12,000 units. Its flexible budget was based on sales volume of 14,000 units. Based on this information - the (variable cost) labor cost volume variance is expected to be unfavorable. Capilla Company experienced a favorable sales volume variance and an unfavorable sales price flexible budget variance. Which of the following is a logical explanation for these variances? - The company reduced its sales price and therefore sold more ite...

ACCT 212 Week 8 Final Exam With Rationale

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What adjustment must be made when converting net income to net cash provided by operating activities using the indirect method? - increases in inventory and prepaid expenses must be deducted What is the primary purpose of the statement of cash flows? - to provide information about a company's cash receipts and cash payments during a reporting period Determine the ending cash balance for Court Corporation if the net cash provided by operating activities is $31,000, net cash used by investi...

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