ACC455 Final Exam 2015: Comprehensive Managerial Accounting: University of Phoenix

Name: ACC455 Final Exam 2015: Comprehensive Managerial Accounting: University of Phoenix
Brand: University of Phoenix
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A comprehensive exam review of managerial accounting, focusing on cost analysis, decision-making, and variance evaluation.

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ACC455 Final Exam 2015: Comprehensive Managerial Accounting: Cost
Analysis, Decision-Making, and Variance Evaluation- University of Phoenix
University of Phoenix ACC455 Final Exam 2015
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1. The per-unit standards for direct labor are 2 direct labor hours at $12 per hour. If in
producing 2,400 units, the actual direct labor cost was $51,200 for 4,000 direct labor
hours worked, the total direct labor variance is
$4,000 unfavorable
$6,400 unfavorable
$1,920 unfavorable
$6,400 favorable
2. Poodle Company manufactures two products, Mini A and Maxi B. Poodle's
overhead costs consist of setting up machines, $800,000; machining, $1,800,000; and
inspecting, $600,000. Information on the two products is:
Mini A Maxi B
Direct labor hours 15,000 25,000
Machine setups 600 400
Machine hours 24,000 26,000
Inspections 800 700
Overhead applied to Mini A using traditional costing using direct labor hours is
$1,670,000
$1,536,000
$1,200,000
$1,920,000
3. Disney’s variable costs are 30% of sales. The company is contemplating an
advertising campaign that will cost $22,000. If sales are expected to increase $40,000,
by how much will the company's net income increase?

$18,000
$12,000
$6,000
$28,000
4. The cost to produce Part A was $10 per unit in 2005. During 2006, it has increased
to $11 per unit. In 2006, Supplier Company has offered to supply Part A for $9 per
unit. For the make-or-buy decision,
net relevant costs are $1 per unit
differential costs are $2 per unit
incremental costs are $1 per unit
incremental revenues are $2 per unit
5. 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 cost of goods sold
An increase to finished goods
A decrease to work in process inventory
A decrease to applied overhead
6. In most cases, prices are set by the
customers
selling company
largest competitor
competitive market
7. Max Company uses 10,000 units of Part A in producing its products. A supplier
offers to make Part A for $7. Max Company has relevant costs of $8 a unit to
manufacture Part A. If there is excess capacity, the opportunity cost of buying Part A
from the supplier is
$0

$80,000
$70,000
$10,000
8. Prices are set by the competitive market when
a company can effectively differentiate its product from others
the product is specially made for a customer
there are no other producers capable of manufacturing a similar item
a product is not easily distinguished from competing products
9. Waco’s Widgets plans to sell 22,000 widgets during May, 19,000 units in June, and
20,000 during July. Waco keeps 10% of the next month’s sales as ending inventory.
How many units should Waco produce during June?
19,000
18,900
19,100
21,000
10. An activity that has a direct cause-effect relationship with the resources consumed
is a(n)
cost driver
product activity
cost pool
overhead rate
11. The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last
month, 11,200 gallons of direct materials that actually cost $42,400 were used to
produce 6,000 units of product. The direct materials quantity variance for last month
was
$2,400 favorable
$5,600 unfavorable
$3,200 unfavorable

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University

University of Phoenix

Subject

Accounting

ACC455 Final Exam 2015: Comprehensive Managerial Accounting: University of Phoenix

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