Premium Essay

Week 4 Midterm

In:

Submitted By ljbenedict
Words 2839
Pages 12
Question 1: (TCO 1) The goal of managerial accounting is to provide information that managers need for A) planning. B) control. C) decision making. D) All of the above
Instructor Explanation: See Chapter 1, page 4.
Points Received: 4 of 4

Question 2.
Question :
(TCO 1) Which of the following costs does not change when the level of business activity changes? a) Total fixed costs b) Total variable costs c) Total direct materials costs d) Fixed costs per unit
Instructor Explanation: See Chapter 1, page 9.
Points Received: 4 of 4 Question 3.
Question :
(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? A) The trip to Cancun that you will not be able to take if you buy the car B) The cost of the car you are trading in C) The cost of your books for this term D) The cost of your car insurance last year
Instructor Explanation: See Chapter 1, page 9.
Points Received: 0 of 4

Question 4.
Question :
(TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. Which is the budgeted fixed cost per unit? A) $1.06 B) $1.44 C) $4.49 D) $1.94
Instructor Explanation: See Chapter 1, page 9. This formula shows that ($1,700 + $800 + $600) / 1,600 = $1.94.
Points Received: 0 of 4

Question 5.
Question :
(TCO 1) Which of the following costs is part of manufacturing overhead? A) Indirect labor B) Direct labor C) Salaries for the accounting personnel D) Wages for the janitorial staff for the sales offices
Instructor Explanation: See

Similar Documents

Free Essay

Week 4 Midterm

...Axia College Material Appendix A Midterm Exam Answer each question below. Answers should be approximately 100 words per question. 1. What are the different forms of social media that exist today? Provide examples of different social media and their primary purposes. The different social media that exist in today’s world. For example, photo sharing, blogging, social bookmarking, wiki, social networking and video sharing and this is just a few. The reason for photo sharing lets a person sharing photos with family, friends, and other public; Blogging let people talk online about any topic freely. Social bookmarking give people the opportunity to share their favorite content online. Wiki site make it were people to work together all over the world. Social networking is a kind of community for people on the internet such as Facebook, Twitter, and Myspace. Video sharing is kind of like photo sharing such as YouTube. 2. What are the greatest benefits of social media for individuals and society? Social media is a large beneficial to a person and society for several reasons. One of the largest benefits to people in social media is the ability to stay in touch with family and friends. The people do not have to be in the same place, town, state they can be mile and mile always. Other good reason of society media is advertise items across the world to help people to products their merchandise to other around the world. Society media help companies to access to millions...

Words: 1533 - Pages: 7

Premium Essay

Midterm Week 4

...provide a market price as the price for the contract. | | | | ( ) There is no contract because there is no offer or acceptance. | | | | ( ) none of the above. | | | | Points Received: | 0 of 5 | | Comments: | | | | 2. | Question : | Non-public figures need not prove the publication element in their suits for defamation. | | | Student Answer: | | ( ) True | | | | (X) False | | | | Points Received: | 5 of 5 | | Comments: | | | | 3. | Question : | The duty of a reasonable person does not extend beyond statutorily imposed duties. | | | Student Answer: | | ( ) True | | | | (X) False | | | | Points Received: | 5 of 5 | | Comments: | | | | 4. | Question : | Commercial speech has the same level of First Amendment protection as political and individual speech. | | | Student Answer: | | (X) True | | | | ( ) False | | | | Points Received: | 0 of 5 | | Comments: | | | | 5. | Question : | Stare decisis is the doctrine of following judicial precedent. | | | Student Answer: | | (X) True | | | | ( ) False | | | | Points Received: | 5 of 5 | | Comments: | | | | 6. | Question : | The state of Florida has just passed a law requiring that oranges shipped into the state from growers located outside of the state meet certain minimum size requirements. The size...

Words: 3764 - Pages: 16

Free Essay

Sci228 Week 4 Midterm

...SCI228 week 4 Midterm Click Link Below To Buy: http://hwaid.com/shop/sci228-week-4-midterm/ Question 1. Question : (TCO 1) The two overarching goals of ________ are to increase quality and years of healthy life and to eliminate health disparities. Question 2. Question : (TCO 1) Jose's lunch contains 121 grams of carbohydrate, 40 grams of protein, and 25 grams of fat. What percent of kilocalories in this meal come from fat? Question 3. Question : (TCO 1) What element makes protein different from carbohydrate and fat? Question 4. Question : (TCO 1) Which of the following is NOTa primary function of dietary protein? Question 5. Question : (TCO 1) Jane consumed a breakfast that contained 85 grams of carbohydrate, 20 grams of protein, and 18 grams of fat. How many kilocalories did Jane eat at breakfast? Question 6. Question : (TCO 1) For dinner, Bill consumes 255 grams of carbohydrate, 70 grams of protein, and 50 grams of fat. In addition, Bill decides that he wants a glass of wine with his meal. If he drinks one glass of wine containing 8 grams of alcohol, how many total kilocalories does he consume in this meal? Question 7. Question : (TCO 2) Including fiber in your diet is beneficial to your GI tract, but consuming excess amounts of fiber can result in the loss of nutrients. This statement is an example of which of the factors to consider in planning diets? Question 8. Question : (TCO 2) Which of the following is required on all food labels? Question...

Words: 1057 - Pages: 5

Premium Essay

Acct-212 Week 4 Midterm

...ACCT-212 Week 4 Midterm Click Link Below To Buy: http://hwcampus.com/shop/acct-212-devry/acct-212-week-4-midterm/ Or Visit www.hwcampus.com ACCT-212 Week 4 Midterm (TCO 1) The Accounting Equation is used to develop the organizations financial reports. (1) Describe what owners’ equity values would be if Assets are $100,000 and Liabilities are $27,000 by showing the Accounting Equation (10 points) and (2) provide an explanation of what accounts could be found in owners’ equity. (10 points) (TCO 1) The financial statements present a company to the public in financial terms. (1) Which financial statement identifies where cash was generated and where it was spent during the year (10 points) and (2) identify the three major parts of this statement. (10 points) (TCO 1) The accounting profession follows a set of guidelines for measurement and disclosure of financial information called the Generally Accepted Accounting Principles (GAAP). (1) Explain what the International Financial Reporting Standards (IFRS) are (10 points) and (2) provide an example of its application. (10 points) (TCO 2) Transaction analysis results in the development of a journal entry. Supplies are purchased on account agreeing to pay $500 within 30 days. (1) Name the accounts impacted and how using the format account name/debit or credit/dollar amount (10 points) and (2) explain how the Accounting Equation is impacted. (10 points) (TCO 3) Adjusting Entries are required at the end of the period...

Words: 555 - Pages: 3

Premium Essay

Acct 212 Week 4 Midterm

...ACCT 212 Week 4 Midterm Click Link Below To Buy: http://hwcampus.com/shop/acct-212-devry/acct-212-week-4-midterm/ Or Visit www.hwcampus.com ACCT-212 Week 4 Midterm (TCO 1) The Accounting Equation is used to develop the organizations financial reports. (1) Describe what owners’ equity values would be if Assets are $100,000 and Liabilities are $27,000 by showing the Accounting Equation (10 points) and (2) provide an explanation of what accounts could be found in owners’ equity. (10 points) (TCO 1) The financial statements present a company to the public in financial terms. (1) Which financial statement identifies where cash was generated and where it was spent during the year (10 points) and (2) identify the three major parts of this statement. (10 points) (TCO 1) The accounting profession follows a set of guidelines for measurement and disclosure of financial information called the Generally Accepted Accounting Principles (GAAP). (1) Explain what the International Financial Reporting Standards (IFRS) are (10 points) and (2) provide an example of its application. (10 points) (TCO 2) Transaction analysis results in the development of a journal entry. Supplies are purchased on account agreeing to pay $500 within 30 days. (1) Name the accounts impacted and how using the format account name/debit or credit/dollar amount (10 points) and (2) explain how the Accounting Equation is impacted. (10 points) (TCO 3) Adjusting Entries are required at the end of the period...

Words: 555 - Pages: 3

Premium Essay

Acct 349 Week 4 Midterm

...ACCT 349 Week 4 Midterm Click Link Below To Buy: http://hwcampus.com/shop/acct-349-week-4-midterm/ Week 4 : Relevant Information, Strategy, and a Balanced Scorecard - Midterm Page 1 1. (TCO 5) The following information is available from the Taylor Company. Actual factory overhead $15,000 Fixed overhead expenses, actual $7,200 Fixed overhead expenses, budgeted $7,000 Actual hours 3,500 Standard hours 3,800 Variable overhead rate per direct labor hour $2.50 Assuming that Taylor uses a three-way analysis of overhead variances, what is the spending variance? (Points : 11) $750 favorable $750 unfavorable $950 favorable $200 unfavorable EXPLANATION: The spending variance is the difference between the actual total factory overhead and the budgeted amount for the actual output. Budgeted $7,000 + (3,500 x $2.50) $15,750 Actual (15,000) $750 F 2. (TCO 5) In an activity-based costing system, what should be used to assign a department’s manufacturing overhead costs to products produced in varying lot sizes? (Points : 11) A single cause-and-effect relationship Multiple cause-and-effect relationships Relative net sales value of the products A product’s ability to bear cost allocations EXPLANATION: Instead of using a single allocation base for overhead, and ABC system determines the multiple activities associated with the incurrence of costs and then accumulates a cost pool for...

Words: 2155 - Pages: 9

Premium Essay

Acct 212 Week 4 Midterm

...ACCT 212 Week 4 Midterm Click Link Below To Buy: http://hwcampus.com/shop/acct-212-devry/acct-212-week-4-midterm/ Or Visit www.hwcampus.com ACCT-212 Week 4 Midterm (TCO 1) The Accounting Equation is used to develop the organizations financial reports. (1) Describe what owners’ equity values would be if Assets are $100,000 and Liabilities are $27,000 by showing the Accounting Equation (10 points) and (2) provide an explanation of what accounts could be found in owners’ equity. (10 points) (TCO 1) The financial statements present a company to the public in financial terms. (1) Which financial statement identifies where cash was generated and where it was spent during the year (10 points) and (2) identify the three major parts of this statement. (10 points) (TCO 1) The accounting profession follows a set of guidelines for measurement and disclosure of financial information called the Generally Accepted Accounting Principles (GAAP). (1) Explain what the International Financial Reporting Standards (IFRS) are (10 points) and (2) provide an example of its application. (10 points) (TCO 2) Transaction analysis results in the development of a journal entry. Supplies are purchased on account agreeing to pay $500 within 30 days. (1) Name the accounts impacted and how using the format account name/debit or credit/dollar amount (10 points) and (2) explain how the Accounting Equation is impacted. (10 points) (TCO 3) Adjusting Entries are required at the end of the period...

Words: 555 - Pages: 3

Premium Essay

Acct 21b2 Week 4 Midterm

...ACCT 212 Week 4 Midterm Click Link Below To Buy: http://hwcampus.com/shop/acct-212-devry/acct-212-week-4-midterm/ Or Visit www.hwcampus.com ACCT-212 Week 4 Midterm (TCO 1) The Accounting Equation is used to develop the organizations financial reports. (1) Describe what owners’ equity values would be if Assets are $100,000 and Liabilities are $27,000 by showing the Accounting Equation (10 points) and (2) provide an explanation of what accounts could be found in owners’ equity. (10 points) (TCO 1) The financial statements present a company to the public in financial terms. (1) Which financial statement identifies where cash was generated and where it was spent during the year (10 points) and (2) identify the three major parts of this statement. (10 points) (TCO 1) The accounting profession follows a set of guidelines for measurement and disclosure of financial information called the Generally Accepted Accounting Principles (GAAP). (1) Explain what the International Financial Reporting Standards (IFRS) are (10 points) and (2) provide an example of its application. (10 points) (TCO 2) Transaction analysis results in the development of a journal entry. Supplies are purchased on account agreeing to pay $500 within 30 days. (1) Name the accounts impacted and how using the format account name/debit or credit/dollar amount (10 points) and (2) explain how the Accounting Equation is impacted. (10 points) (TCO 3) Adjusting Entries are required at the end of the period...

Words: 555 - Pages: 3

Premium Essay

Acct 212 Week 4 Midterm

...ACCT 212 Week 4 Midterm Click Link Below To Buy: http://hwcampus.com/shop/acct-212-devry/acct-212-week-4-midterm/ Or Visit www.hwcampus.com ACCT-212 Week 4 Midterm (TCO 1) The Accounting Equation is used to develop the organizations financial reports. (1) Describe what owners’ equity values would be if Assets are $100,000 and Liabilities are $27,000 by showing the Accounting Equation (10 points) and (2) provide an explanation of what accounts could be found in owners’ equity. (10 points) (TCO 1) The financial statements present a company to the public in financial terms. (1) Which financial statement identifies where cash was generated and where it was spent during the year (10 points) and (2) identify the three major parts of this statement. (10 points) (TCO 1) The accounting profession follows a set of guidelines for measurement and disclosure of financial information called the Generally Accepted Accounting Principles (GAAP). (1) Explain what the International Financial Reporting Standards (IFRS) are (10 points) and (2) provide an example of its application. (10 points) (TCO 2) Transaction analysis results in the development of a journal entry. Supplies are purchased on account agreeing to pay $500 within 30 days. (1) Name the accounts impacted and how using the format account name/debit or credit/dollar amount (10 points) and (2) explain how the Accounting Equation is impacted. (10 points) (TCO 3) Adjusting Entries are required at the end of the period...

Words: 555 - Pages: 3

Free Essay

Busn 258 Week 4 Midterm

...BUSN 258 Week 4 Midterm To Buy This material Click below link http://www.uoptutors.com/busn-258/busn-258-week-4-midterm (TCO 1) Among the issues of dealing with the “baby boomer” generation is the consideration (TCO 1) Businesses that institute effective customer retention programs may see profits increase by how much? (TCO 1) Customer loyalty is (TCO 2,3) Value can be defined as (TCO 2,3) The simplest way to get information about potential customer turnoffs is (TCO 2,3) The people who bear the major responsibility for both value and systems problems are (TCO 2,3) Reducing turnoffs can (TCO 13) Structured knowledge bases are (TCO 13) Which of the following benefits does NOT apply to the advantages of a company using websites? (TCO 13) Hardware and software have lifecycles of (TCO 13) The average cost per transaction of self-service Web assistance is (TCO 6,7) When it comes to listening versus speaking, (TCO 6,7) Which of the following reasons is NOT a reason for not seeking clarification in a conversation? (TCO 6,7) One example of an internal factor that complicates the listening process is (TCO 6,7) One example of self-centeredness is (TCO 8,9) Behavior is (TCO 8,9) Calling yourself Mr. or Ms. may give the impression that (TCO 8,9) Callers should always (TCO 8,9) Many customers get their first impression of your company from (TCO 8,9) One problem with not seeing the person you are talking to is (TCO 8,9) Titles convey (TCO 3) Explain what the word “systems”...

Words: 306 - Pages: 2

Free Essay

Bios 135 Week 4 Midterm

...This work of BIOS 135 Week 4 Midterm shows the solutions to the following problems: 1. The most effective control subjects in a test of an experimental treatment are those that are ________ . 2. Each of the following is a testable hypothesis, EXCEPT which of the following? 3. If the heat of vaporization for water is 540 cal/g, how many kilocalories are released when 5.0 g of steam is converted to liquid at 100 Business - Marketing 1. Question : (TCO 1) The most effective control subjects in a test of an experimental treatment are those that are __________________________ . Points Received: 4 of 4 2. Question : (TCO 1) Each of the following is a testable hypothesis, EXCEPT which of the following? Points Received: 4 of 4 3. Question : (TCO 2) If the heat of vaporization for water is 540 cal/g, how many kilocalories are released when 5.0 g of steam is converted to liquid at 100° C? Points Received: 4 of 4 4. Question : (TCO 2) The formation of a gas from a liquid is known...

Words: 283 - Pages: 2

Free Essay

Ah 215 Week 4 Midterm Exam

...AH 215 WEEK 4 MIDTERM EXAM To purchase this tutorial visit here: http://mindsblow.us/question_des/AH215WEEK4MIDTERMEXAM/2735 contact us at: help@mindblows.us AH 215 WEEK 4 MIDTERM EXAM 1. Instead of complaining about problems, how should the administrative medical assistant deal with problems? 2. Describe why an effective health care worker should be skilled at understanding human behavior. 3. What type of lifestyle is the patient encouraged to develop through the holistic approach to health care? 4. Is it necessary for the administrative medical assistant to be familiar with the abbreviations of medical positions? Why or why not? 5. Why was a Patient’s Bill of Rights developed by the House of Delegates of the American Hospital Association? 6. List the five components of Maslow’s hierarchy of needs in order of importance. and many more exam questions….. AH 215 WEEK 4 MIDTERM EXAM To purchase this tutorial visit here: http://mindsblow.us/question_des/AH215WEEK4MIDTERMEXAM/2735 contact us at: help@mindblows.us AH 215 WEEK 4 MIDTERM EXAM 1. Instead of complaining about problems, how should the administrative medical assistant deal with problems? 2. Describe why an effective health care worker should be skilled at understanding human behavior. 3. What type of lifestyle is the patient encouraged to develop through the holistic approach to health care? 4. Is it necessary for the administrative medical assistant to be familiar with the abbreviations of medical positions...

Words: 2193 - Pages: 9

Free Essay

Acct 434 Week 4 Midterm Exam

...434 WEEK 4 MIDTERM EXAM To purchase this visit following link: http://www.activitymode.com/product/acct-434-week-4-midterm-exam/ Contact us at: SUPPORT@ACTIVITYMODE.COM ACCT 434 WEEK 4 MIDTERM EXAM ACCT 434 Week 4 Midterm Exam ACCT 434 Week 4 Midterm Exam Activity mode aims to provide quality study notes and tutorials to the students of ACCT 434 Week 4 Midterm Exam in order to ace their studies. ACCT 434 WEEK 4 MIDTERM EXAM To purchase this visit following link: http://www.activitymode.com/product/acct-434-week-4-midterm-exam/ Contact us at: SUPPORT@ACTIVITYMODE.COM ACCT 434 WEEK 4 MIDTERM EXAM ACCT 434 Week 4 Midterm Exam ACCT 434 Week 4 Midterm Exam Activity mode aims to provide quality study notes and tutorials to the students of ACCT 434 Week 4 Midterm Exam in order to ace their studies. ACCT 434 WEEK 4 MIDTERM EXAM To purchase this visit following link: http://www.activitymode.com/product/acct-434-week-4-midterm-exam/ Contact us at: SUPPORT@ACTIVITYMODE.COM ACCT 434 WEEK 4 MIDTERM EXAM ACCT 434 Week 4 Midterm Exam ACCT 434 Week 4 Midterm Exam Activity mode aims to provide quality study notes and tutorials to the students of ACCT 434 Week 4 Midterm Exam in order to ace their studies. ACCT 434 WEEK 4 MIDTERM EXAM To purchase this visit following link: http://www.activitymode.com/product/acct-434-week-4-midterm-exam/ Contact us at: SUPPORT@ACTIVITYMODE.COM ACCT 434 WEEK 4 MIDTERM EXAM ACCT 434 Week 4 Midterm Exam ACCT 434 Week 4 Midterm...

Words: 512 - Pages: 3

Premium Essay

Acct 305 Week 4 Midterm New

...ACCT 305 Week 4 Midterm New http://homeworkgallery.com/index.php/product/acct-305-week-4-midterm-new/ http://homeworkgallery.com/index.php/product/acct-305-week-4-midterm-new/ http://homeworkgallery.com/index.php/product/acct-305-week-4-midterm-new/ 1. Property, plant, and equipment and intangible assets are 2. (TCO 3) Our company exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land were $90,000 and $100,000, respectively. Assuming the exchange lacks commercial substance, which amount is correct? 3. (TCO 2) The exclusive right to benefit from a creative work, such as a film, is a 4. (TCO 4) The overriding principle for all depreciation methods is that the method must be 5. (TCO 4) On September 30, 2013, our company purchased a machine for $100,000. The estimated service life is 10 years, with a $10,000 residual value. Our company records partial-year depreciation based on the number of months in service. Depreciation for 2013, using double-declining balance, would be 6. (TCO 4) A change from the straight-line method to the sum-of-years’-digits method of depreciation is handled as 7. (TCO 5) Fair value and appreciation of the investee are not as relevant for investments in which of the following categories? 8. (TCO 5) Consolidated financial statements are prepared when one company has 9. (TCO 4) Interest is not capitalized for 10. (TCO 2) Goodwill is 11. (TCO 4) Depreciation, depletion...

Words: 452 - Pages: 2

Free Essay

Ah 215 Week 4 Midterm Exam

...AH 215 WEEK 4 MIDTERM EXAM TO purchase this tutorial visit following link: http://wiseamerican.us/product/ah-215-week-4-midterm-exam/ Contact us at: SUPPORT@WISEAMERICAN.US AH 215 WEEK 4 MIDTERM EXAM 1. Instead of complaining about problems, how should the administrative medical assistant deal with problems? 2. Describe why an effective health care worker should be skilled at understanding human behavior. 3. What type of lifestyle is the patient encouraged to develop through the holistic approach to health care? 4. Is it necessary for the administrative medical assistant to be familiar with the abbreviations of medical positions? Why or why not? 5. Why was a Patient’s Bill of Rights developed by the House of Delegates of the American Hospital Association? 6. List the five components of Maslow’s hierarchy of needs in order of importance. and many more exam questions….. AH 215 WEEK 4 MIDTERM EXAM 1. Instead of complaining about problems, how should the administrative medical assistant deal with problems? 2. Describe why an effective health care worker should be skilled at understanding human behavior. 3. What type of lifestyle is the patient encouraged to develop through the holistic approach to health care? 4. Is it necessary for the administrative medical assistant to be familiar with the abbreviations of medical positions? Why or why not? 5. Why was a Patient’s Bill of Rights developed by the House of Delegates of the American Hospital Association? 6. List...

Words: 486 - Pages: 2