Acct 202 final exam

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refer to the attatchment…………………………………………………….

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Acct 202 final exam

$28.00

Description

Acc 202 Final exam On connect

I am pasting 4 question rest in the attachmet

1.

Packer Company, which has only one
product, has provided the following data concerning its most recent month of
operations:

Selling price

$

81

Units in beginning
inventory

300

Units produced

1,800

Units sold

1,600

Units in ending
inventory

500

Variable costs per
unit:

Direct
materials

$

19

Direct
labor

$

16

Variable
manufacturing overhead

$

1

Variable
selling and administrative

$

11

Fixed costs:

Fixed
manufacturing overhead

$

34,200

Fixed
selling and administrative

$

3,200


The company produces the same
number of units every month, although the sales in units vary from month to
month. The company’s variable costs per unit and total fixed costs have been
constant from month to month.

Required:

a.

What is the unit product cost for
the month under variable costing?

Unit product cost

$

b.

Prepare a contribution format
income statement for the month using variable costing.(Input all amounts as positive values.)

Variable
costing income statement

$

Variable expenses:

$



Contribution margin

Fixed expenses:



$




c.

Without preparing an income
statement, determine the absorption costing net operating income for the
month. (Hint: Use the reconciliation method.)

Net operating income

$

2.

Camren Corporation has
two major business segments-Apparel and Accessories. Data concerning those
segments for December appear below:

Sales
revenues, Apparel

$

680,000

Variable
expenses, Apparel

$

299,000

Traceable
fixed expenses, Apparel

$

102,000

Sales
revenues, Accessories

$

770,000

Variable
expenses, Accessories

$

424,000

Traceable
fixed expenses, Accessories

$

100,000


Common fixed expenses
totaled $357,000 and were allocated as follows: $161,000 to the Apparel
business segment and $196,000 to the Accessories business segment.

Required:

Prepare a segmented
income statement in the contribution format for the company.(Input all amounts as positive values.)

Total

Apparel

Accessories

$

$

$




Contribution
margin




Segment
margin

$

$






$




.

Wartenberg Corporation uses
customers served as its measure of activity. The company bases its budgets on
the following information: Revenue should be $3.80 per customer served. Wages
and salaries should be $38,800 per month plus $1.00 per customer served.
Supplies should be $0.60 per customer served. Insurance should be $7,100 per
month. Miscellaneous expenses should be $5,100 per month plus $0.30 per
customer served.

The company reported the following
actual results for January:

Customers served

30,000

Revenue

$

115,500

Wages and salaries

$

66,900

Supplies

$

15,900

Insurance

$

6,800

Miscellaneous

$

15,500


Required:

Prepare a report showing the
company’s revenue and spending variances for January.(Input all amounts as positive
values. Leave no cells blank – be certain to enter “0”
wherever required. Indicate the effect of each variance by selecting
“F” for favorable, “U” for unfavorable, and
“None” for no effect (i.e., zero variance).

Wartenberg
Corporation
Revenue and Spending Variances
For the Month Ended January 31

Revenue

$


Expenses:

Wages and salaries

Supplies

Insurance

Miscellaneous


Total expenses


Net operating income

$



4.

Vera Corporation bases
its budgets on the activity measure customers served. During September, the
company planned to serve 28,000 customers, but actually served 27,000
customers. The company has provided the following data concerning the
formulas it uses in its budgeting:

Fixed
element
per month

Variable
element
per customer

Revenue

$

5.00

Wages and
salaries

$

35,800

$

1.90

Supplies

$

0

$

0.60

Insurance

$

13,000

$

0.00

Miscellaneous

$

7,500

$

0.20


Required:

Prepare the company’s
flexible budget for September based on the actual level of activity for the
month.(Input all amounts as
positive values.)

Vera Corporation
Flexible Budget
For the Month Ended September 30

Revenue

$


Expenses:

Wages and
salaries

Supplies

Insurance

Miscellaneous


Total
expenses


Net
operating income

$




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