I Have An Accounting Quiz Need Helpppppppppppppppp?
1- Which of the following scenarios best describes an operational decision for an auto manufacturer?
A. Building a new assembly facility overseas to capture greater market share
B. Establishing a quality control program to build customer satisfaction and brand loyalty
C. Hiring and training welders to meet an annual production target
D. Diversifying the product line by acquiring a computer chip manufacturer
-Use the following information to answer question 2
Lil Chicken Farm calculates predetermined overhead rates for each department using the number of pens as the cost driver. In the feeding department, total overhead costs were $4,410 in 20×7, and are expected to total $5,060 in 20×8. There were 420 pens
in 20×7 and plans for 460 pens in 20×8.
2-If the actual number of pens in 20×8 was 450 and actual overhead was $5,000, what was the amount of under- or overapplied overhead?
A. $50 underapplied C. $422.50 overapplied
B. $275 underapplied D. $684.50 overapplied
Use the following wage and salary expense information for a dress shop to answer question 3
Machine operators $200,000
Quality control supervisors $100,000
Fabric cutters $75,000
Factory janitor $18,000
Company president $150,000
3-What is the amount of indirect labor incurred?
A. $75,000 C. $250,000
B. $118,000 D. $543,000
Tags: Accounting, Helpppppppppppppppp, Need, Quiz
1. C
2. A
Overhead application rate for 2007= 4410/420 =$10.50 per pen and for 2008 = 5060/460 = $11 per pen
Applied overhead = 450 x 11= $ 4950 – actual $5000 – Underapplied
Last year’s figures are not relevant in 2008
3. B
Indirect labor cost will be Quality Control Supervisor $100,000 and factory janitor $18,000- Total $118,000
Machine operators and fabric cutters are direct labor. Company president is not a factory worker
1. C. A is more of investment decision, B is marketing & D is again investment
2. A. Applied OH rate is 450 pens x (5060/460) = 4,950. Actual is 5,000.
3. B. QC + Factory Janitor
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