ACCT 526 FINAL
QUESTIONS AND VERIFIED
CORRECT ANSWERS
GRADED A+ LATEST 100%
GUARANTEED PASS
in a manufacturing company, the cost of goods is equal to : - CORRECT ANSWER-the beginning
inventory of work increase of work in progress, plus total manufacturing costs, less the ending
inventory of work in progress
the flow of costs in job order costing: - CORRECT ANSWER-parallels the physical flow of
materials as they are converted into finished goods
in a job order cost system, the amount of overhead cost that has been applied to a job that
remains incomplete at the end of a period: - CORRECT ANSWER-is a part of the ending balance
of the work in process inventory account
at the end of the accounting period, applied overhead was larger than actual overhead by a
material amount. the overapplied overhead should be: - CORRECT ANSWER-appointed among
work in process inventory, finished goods inventory and cost of goods sold
in the year-end financial statements, the manufacturing overhead account should have: -
CORRECT ANSWER-a zero balance, since all overhead costs incurred during the year should be
assigned to the production of the year
the estimated period costs necessary to support a given level of sales will be shown on the -
CORRECT ANSWER-selling and administrative budget
, the budget for a merchandiser differs from a budget for a manufacturer because: - CORRECT
ANSWER-Both (A) & (B)
A. A marchandiser purchases budget replaces the production budget
B. the manufacturing budgets are not applicable
which of the following is generally the first step in preparing the master budget? - CORRECT
ANSWER-sales budget
a well prepared budget can help benefit the company in all of the following ways except for: -
CORRECT ANSWER-guarantee profit level
a production budget includes separate schedules for - CORRECT ANSWER-materials, labor, and
overhead
which one of the following items would never appear on a cash budget? - CORRECT ANSWER-
depreciation expenses
the cash budget must be prepared before you can complete the: - CORRECT ANSWER-budgeted
balance sheet
the segment margin represents the business segment's - CORRECT ANSWER-income
the advantage of a decentralized management style include all of the following except for -
CORRECT ANSWER-decision made by manager who is less experienced
the practice of delegating authority and responsibility is referred to as - CORRECT ANSWER-
decentralization
QUESTIONS AND VERIFIED
CORRECT ANSWERS
GRADED A+ LATEST 100%
GUARANTEED PASS
in a manufacturing company, the cost of goods is equal to : - CORRECT ANSWER-the beginning
inventory of work increase of work in progress, plus total manufacturing costs, less the ending
inventory of work in progress
the flow of costs in job order costing: - CORRECT ANSWER-parallels the physical flow of
materials as they are converted into finished goods
in a job order cost system, the amount of overhead cost that has been applied to a job that
remains incomplete at the end of a period: - CORRECT ANSWER-is a part of the ending balance
of the work in process inventory account
at the end of the accounting period, applied overhead was larger than actual overhead by a
material amount. the overapplied overhead should be: - CORRECT ANSWER-appointed among
work in process inventory, finished goods inventory and cost of goods sold
in the year-end financial statements, the manufacturing overhead account should have: -
CORRECT ANSWER-a zero balance, since all overhead costs incurred during the year should be
assigned to the production of the year
the estimated period costs necessary to support a given level of sales will be shown on the -
CORRECT ANSWER-selling and administrative budget
, the budget for a merchandiser differs from a budget for a manufacturer because: - CORRECT
ANSWER-Both (A) & (B)
A. A marchandiser purchases budget replaces the production budget
B. the manufacturing budgets are not applicable
which of the following is generally the first step in preparing the master budget? - CORRECT
ANSWER-sales budget
a well prepared budget can help benefit the company in all of the following ways except for: -
CORRECT ANSWER-guarantee profit level
a production budget includes separate schedules for - CORRECT ANSWER-materials, labor, and
overhead
which one of the following items would never appear on a cash budget? - CORRECT ANSWER-
depreciation expenses
the cash budget must be prepared before you can complete the: - CORRECT ANSWER-budgeted
balance sheet
the segment margin represents the business segment's - CORRECT ANSWER-income
the advantage of a decentralized management style include all of the following except for -
CORRECT ANSWER-decision made by manager who is less experienced
the practice of delegating authority and responsibility is referred to as - CORRECT ANSWER-
decentralization
