Acct 346 midterm

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Acct 346 midterm

TCO 1 Which of the following is not a difference between financial accounting and managerial accounting? Financial accounting Acct 346 midterm primarily concerned with reporting the past, whereas managerial accounting is more concerned with the future.

Managerial accounting uses more nonmonetary information than is used in financial accounting. Managerial accounting is primarily concerned with providing information for external users, whereas financial accounting is concerned with internal users.

TCO 1 You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? The trip to Cancun that you will not be able to take if you buy the car The cost of the car you are trading in The cost of your books for this term The cost of your car insurance last year Question 4.

Which is the budgeted total variable cost? TCO 1 Which of the following costs is not part of manufacturing overhead? Electricity for the factory Depreciation of factory equipment Salaries for the production supervisors Health insurance for sales staff Question 6.

TCO 1 Which of the following is not a period cost? Advertising costs Direct materials Depreciation of accounting office equipment Question 7. How much is cost of goods manufactured? Information concerning manufacturing overhead and labor for August follows.

ACCT Week 5 Complete Homework, DQs, Midterm – Recently Taken | Assignment Essays

What was the amount of overapplied or underapplied overhead? TCO 3 Companies in which of the following industries would not be likely to use process costing?

Cereals Cosmetics Auto body repairs Question TCO 3 The blending department began the period with 45, units. During the period, the department received another 30, units from the prior department and completed 60, units during the period. At the start of May, 2, units were in process.

During May, 11, units were completed and 3, units were in process at the end of May. Other information is as follows. Work in process, May 1: TCO 4 Duradyne Inc.

Which is the variable cost per unit?

Acct 346 midterm

TCO 4 Which of the following will have no effect on the break-even point in units? The selling price increasing The variable cost per unit increasing The sales volume increasing Total fixed costs increase Question TCO 4 Werth Company produces tie racks. How much is the break-even point in units?

TCO 5 Which of the following is treated differently in full costing than in variable costing?ACCT Midterm Exam Solution % Correct Answer ACCT Midterm Exam % Correct Answers; ACCT Midterm Exam Solution % Correct Answer HRM Employment Law Midterm Exam Answers; PA (Nonprofit Org Management) Midterm Exam Ans MIS Midterm Exam Solution-All Possible Questio.

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ACCT Midterm Exam 1 Solution.

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(TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for. (TCO 1) Which of the following costs does not change when the level of business activity changes?.

Student Answer: Financial accounting is primarily concerned with reporting the past, while managerial accounting is more concerned with the future. DEVRY EXAMS ANSWERS.

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