ACG 2071 Final Exam TCC Strickland with all Correct & 100%
Verified Answers |Latest Version |Already Graded A+
working capital ✔Correct Answer-current assets - current liabilities
current ratio ✔Correct Answer-current assets / current liabilities
acid test ratio ✔Correct Answer-quick assets / current liabilites
debt-to-equity ratio ✔Correct Answer-total liabilities / stockholders equity
earnings per share ✔Correct Answer-net income / shares outstanding
price-earnings ratio ✔Correct Answer-market price per share / earnings per share
direct cost ✔Correct Answer-easily and conveniently traced to a specified cost object
indirect cost ✔Correct Answer-a cost that cannot be easily and conveniently traced to a
specified cost object
product cost ✔Correct Answer-all costs involved in acquiring or making a product
period cost ✔Correct Answer-costs that are not product costs; commissions, advertising,
salaries, PR, rent
mixed cost ✔Correct Answer-y=a+bx
job order costing ✔Correct Answer-a cost system that assigns costs to specific production
batches or jobs
predetermined overhead rate ✔Correct Answer-estimated total manufacturing overhead
cost/estimated total amount of the allocation base
total job cost ✔Correct Answer-direct materials + direct labor + manufacturing overhead
purchase of raw materials ✔Correct Answer-Debit: Raw Materials
Credit: Accounts Payable
issue of raw materials ✔Correct Answer-Debit: Work in Process and Manufacturing Overhead
Credit: Raw Materials
employee time tickets ✔Correct Answer-Debit: Work in Process(direct labor cost)
Verified Answers |Latest Version |Already Graded A+
working capital ✔Correct Answer-current assets - current liabilities
current ratio ✔Correct Answer-current assets / current liabilities
acid test ratio ✔Correct Answer-quick assets / current liabilites
debt-to-equity ratio ✔Correct Answer-total liabilities / stockholders equity
earnings per share ✔Correct Answer-net income / shares outstanding
price-earnings ratio ✔Correct Answer-market price per share / earnings per share
direct cost ✔Correct Answer-easily and conveniently traced to a specified cost object
indirect cost ✔Correct Answer-a cost that cannot be easily and conveniently traced to a
specified cost object
product cost ✔Correct Answer-all costs involved in acquiring or making a product
period cost ✔Correct Answer-costs that are not product costs; commissions, advertising,
salaries, PR, rent
mixed cost ✔Correct Answer-y=a+bx
job order costing ✔Correct Answer-a cost system that assigns costs to specific production
batches or jobs
predetermined overhead rate ✔Correct Answer-estimated total manufacturing overhead
cost/estimated total amount of the allocation base
total job cost ✔Correct Answer-direct materials + direct labor + manufacturing overhead
purchase of raw materials ✔Correct Answer-Debit: Raw Materials
Credit: Accounts Payable
issue of raw materials ✔Correct Answer-Debit: Work in Process and Manufacturing Overhead
Credit: Raw Materials
employee time tickets ✔Correct Answer-Debit: Work in Process(direct labor cost)
