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Acct 505 Final Exam –

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ACCT 505 Final Exam –

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ACCT 505 Final Exam – latest 2016

1. (TCO E) Designing a new product is a(n) (Points : 5)
batch-level activity.
product-level activity.
unit-level activity.
organization sustaining activity.

Question 2.2. (TCO G) Given the following data, what would ROI be?
Sales   $70,000

Net operating income   $10,000

Contribution margin   $20,000

Average operating assets   $50,000

Stockholder’s equity $25,000

(Points : 5)

1. RspGF=”font-family:’Arial’;font-size:10pt;”(TCO C) Longiotti Corporation produces and sells a single product. Data concerning that product appear below.
Selling price per unit $375.00
Variable expense per unit $144.00
Fixed expense per month $1,686,300


Determine the monthly breakeven in units or dollar sales. Show your work! (Points : 25)

2. TCO B) Maverick Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below.
Work in process, beginning:
  Units in beginning work in process inventory 400
  Materials costs $6,900
  Conversion costs $2,500
  Percent complete for materials 80%
  Percent complete for conversion 15%
  Units started into production during the month 6,000
  Units transferred to the next department during the month 5,600
  Materials costs added during the month $112,500
  Conversion costs added during the month $210,300

Ending work in process:
  Units in ending work-in-process inventory 800
  Percentage complete for materials 70%
  Percentage complete for conversion 30%

Required: Calculate the equivalent units for conversion for the month in the first processing department. (Points : 25)\

1. TCO D) Topple Company produces a single product. Operating data for the company and its absorption costing income...


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