Accounting test 2 essay example

The activity rate for the Order Processing activity cost pool is closest to: The use of predetermined overhead rates. The need for averaging. The company has provided the following data concerning its costs and its activity based costing system: Which terms will make the following statement true?

Washtenaw applies overhead using a predetermined rate based on direct labor-hours. The balance in the Work in Process account equals: The Nichols Company uses the weighted-average method in its process costing system. The company has provided the following data concerning its costs: The distribution of resource consumption across activity cost pools is given below: The company makes units of product S78N a year, requiring a total of 1, machine-hours, 40 orders, and 30 inspection-hours per year.

Diston Company uses the weighted-average method in its process costing system. An additional 90, units were started into production during the month. The Other activity cost pool is used Accounting test 2 essay example accumulate costs of idle capacity and organization-sustaining costs. Christiansen Corporation uses an activity-based costing system with the following three activity cost pools: The Fitting Department is the second department in its production process.

What predetermined overhead rate was used last year?

Which of the following characteristics applies to process costing, but does not apply to job order costing? Overapplied manufacturing overhead occurs when: Bossie Corporation uses an activity-based costing system with three activity cost pools.

The number of units started during November in the department was: How much cost, in total, would be allocated in the first-stage allocation to the Assembly activity cost pool? The use of equivalent units of production. Wecker Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: The cost of beginning inventory under the weighted-average method is: Designing a new product is an example of an: McCaskey Corporation uses an activity-based costing system with the following three activity cost pools: The predetermined overhead rate for the year must have been closest to: Data concerning two products appear below: What would be the cost per equivalent unit for conversion costs for the month?

According to the activity-based costing system, the product margin for product S78N is: Inventory Estimated total manufacturing overhead costs divided by actual total units in the allocation base.

How much conversion cost was assigned to the units transferred out of the Fitting Department during March? How much overhead cost would be assigned to Product V09X using the activity-based costing system?

The following data are for last year: Washtenaw Corporation uses a job-order costing system.

Basic Accounting Test

A total of 25, units were completed and transferred out of the department during the month. Which of the following would probably be the least appropriate allocation base for allocating overhead in a highly automated manufacturer of specialty valves? Round off to three decimal places.

The activity rate for the Fabrication activity cost pool is closest to: Spendlove Corporation has provided the following data from its activity-based costing system: Daguio Corporation uses direct labor-hours in its predetermined overhead rate.

The company recorded 29, equivalent units for conversion costs for November in a particular department.

Accounting Test

A company should use process costing, rather than job order costing, if: Sanchez Corporation uses the weighted-average method in its process costing system.Get the most comprehensive Accounting practice tests with Exam ultimedescente.comt Access to Tests · Live Chat Support · Tests Instantly GradedTypes: Free Sample Questions, Sample Test, Test Prep, Practice Testing.

Use our free quizzes with answers to quickly check your understanding of many accounting concepts. 2. Which of the following would probably be the least appropriate allocation base for allocating overhead in a highly automated manufacturer of specialty valves?

A. Here is a free basic accounting test to check your understanding of the section on the basic accounting concepts. This quiz contains 9 multiple choice questions and should take about minutes to complete.

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Accounting test 2 essay example
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