Acc 349 final exam Study guides, Class notes & Summaries

ACC 349 - Week 5 Final Exam. Questions with Answers. Complete Solutions Guide. 1 Luca Company overapplied manufacturing overhead during 2006. Which one of the following is part of the year end entry to dispose of the overapplied amount assuming the amount is material?  An increase to finished goods  A decrease to applied overhead  An increase to cost of goods sold  A decrease to work in process inventory 2 An activity that has a direct cause-effect relationship with th...

I. Which of the following represents the correct order in which inventories are reported on a manufacturer’s balance sheet? A. Work in process, finished goods raw materials B. RAW MATERIALS, WORK IN PROCESS, FINISHED GOODS C. Finished goods, work in process, raw materials D. Work in process, raw materials, finished goods II. In traditional costing systems, overhead is generally applied based on A. machine hours B. DIRECT LABOR C. direct material dollars D. units of production ...