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The goal of managerial accounting is to provide

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The goal of managerial accounting is to provide

Question 1.1. TCO 1) The goal of managerial accounting is to provideinformation that managers need for which of the following?(Points : 7)PlanningControlDecision makingAll of the aboveQuestion 1.1. TCO 1) The goal of managerial accounting is to provide information that managers ne(Points : 7)PlanningControlDecision makingAll of the aboveQuestion 2.2. TCO 1) Josie’s Grill budgeted the following costs for a month in which 1,600 steak dinner$4,080; hourly labor (variable), $6,976; rent (fixed), $1,700; depreciation, $800; and other fixsells for $14.00 each. How much is the budgeted variable cost per unit? (Points : 7)$6.19$8.25$6.91$5.80Question 3.3. (TCO 1) Which of the following is NOT a period cost? (Points : 7)Advertising costDirect MaterialAccounting staff salariesDepreciation on accounting office equipmentQuestion 4.4.(TCO 1) On December 31, 2015, GLE Inc. has a balance in the Work-in-Process Inventory2015, the balance was $47,000. Current manufacturing costs for the year are $292,000, andmuch is cost of goods manufactured? (Points : 7)$292,000$299,000$277,000$285,000Question 5.5. TCO 2) Paul Company applies manufacturing overhead based on direct labor hours. Infooverhead and labor for August follows.Overhead costDirect labor hoursDirect labor costEstimated$174,0005,800$87,000Actual$171,0005,900$89,975How much is the predetermined overhead rate? (Points : 7)$1.90$30.00$2.00$1.93Question 6.6. TCO 2) During 2015, Michael Company applied overhead using a job-order costing systehour. Estimated direct labor hours for the year were 150,000, and estimated overhead for thelabor hours for 2015 were 140,000, and actual overhead was $1,420,000.What was the amount of under- or over-applied overhead for the year? (Points : 7)$300,000 under-applied$20,000 under-applied$300,000 over-applied$120,000 over-appliedQuestion 7.7. TCO 2) Manufacturing overhead may be allocated on the basis of (Points : 7)machine hours.direct labor hours.direct labor costs.any of the listed choices above.Question 1.1. TCO 1) Which of the following types of costs are conversion costs? (Points :7)Direct materials and direct laborDirect materials and overheadDirect labor and overheadDirect materials, direct labor, and overheadQuestion 2.2. (TCO 6) Smile Labs develops 35mm film using a four-step process that movesprogressively through four departments. The company specializes in overnightservice and has the largest drug store chain as its primary customer. Currently,direct labor, direct materials, and overhead are accumulated by department. Thecost accumulation system that best describes the system that Smile Labs is usingis:(Points : 7)operation costing.random costing.job-order costing.process costing.Question 3.3. TCO 3) Kerner Manufacturing uses a process cost system to manufacture laptop computlaptop computer model #KJK20 during the quarter ending March 31:Work-in-process inventory, January 1Started during the quarterCompleted during the quarterWork-in-process inventory, March 31Costs added during the quarterUnits200600500300Direct Labor$50,000$720,000Beginning work-in-process inventory was 50% complete for direct labor costs. Ending workcosts. What are the total equivalent units of production with respect to direct labor? (apply thof calculating equivalent units)(Points : 7)6006506757254. TCO 2) Sweet Co. uses budgeted overhead rates to apply overhead to individual jobs. Thcompany made the following estimates for this year.Direct labor costsFactory overhead costsDirect Labor HoursMachine Hours$45,000,000$8,000,00080,000105,000(a) What is the predetermined overhead rate (per direct labor hour) for the company?(b) If Job #34567 had the following:Material costs were $450,000;Direct labor costs were $375,000;Direct labor hours 20,000; andMachine hours were 28,000,What is the total cost of Job #34567? (Points : 30)5. TCO 3) Adnan Company uses process costing. At the beginning of the month, there were70% complete with respect to conversion costs. 30,000 units were started during the monthProcess Inventory were 80% complete with respect to material and 20% complete with respeused in calculating the cost per unit for materials? (apply the formula for the more commonl(Points : 30)6. TCO 6) Handy Display Company manufactures display cases to be sold to retail stores. THandy Display Company uses a single plant-wide overhead rate to allocate its $3,357,800 oassociated with the Large Case line, $1,276,800 is associated with the Medium Case line, aDisplay Company is currently running a total of 33,000 machine hours: 10,000 in the Large CCase line. Handy Display Company uses machine hours as the cost driver for manufacturingRequirement: Calculate the departmental overhead rate for each of the three departments lis7. TCO 2)Fred Co. incurred costs of $800,000 for direct materials (raw) purchased. Direct labor was $5Inventories were as follows:Raw materials beginning $2,000; raw materials ending $4,000;Work-in-process beginning $210,000; work-in-process ending $190,000;Finished goods beginning $13,000; finished goods ending $12,500;What is the cost of goods manufactured? Please show your work. (Points : 30)



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