Principles of Managerial Accounting Spring 2004 Final Exam Ny University

3731 Words Oct 27th, 2012 15 Pages
NEW YORK UNIVERSITY Leonard N. Stern School of Business
Final Exam Version C C10.0002 Principles of Managerial Accounting Spring 2004 Answer all questions of this examination in the exam booklet provided. Points Distribution: Part A Multiple Choice 54 points Part B Question 1 20 Question 2 20 Question 3 6 46 Total 100 points

Part A - Multiple Choice 1 | Conversion cost consists of which of the following?a. Manufacturing overhead cost.b. Direct materials and direct labor cost.c. Direct labor cost.d. Direct labor
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8,000 Rent on factory equipment ......... 40,000 Kelsh estimates that 5,000 direct labor hours and 10,000 machine hours will be worked during the year. The predetermined overhead rate per hour will be: a. $6.80. b. $4.40. c. $3.40. d. $8.20. | 11 | Paul Company used a predetermined overhead rate during the year just completed of $3.50 per direct labor hour, based on an estimate of 22,000 direct labor hours to be worked during the year. Actual overhead cost and activity during the year were: Actual manufacturing overhead cost incurred .. $90,000 Actual direct labor hours worked ............. 25,000 The under- or overapplied overhead for the year would be: a. $13,000 underapplied. b. $10,500 overapplied. c. $2,500 overapplied. d. $2,500 underapplied. | 12 | CROW Company has the following estimated costs for the next year: Direct materials ..................... $ 4,000 Direct labor ......................... 20,000 Rent on factory building ............. 15,000 Sales salaries ....................... 25,000 Depreciation on factory equipment .... 8,000 Indirect labor ....................... 10,000 Production supervisor’s salary ....... 12,000 CROW Company estimates that 20,000 labor hours will be worked during the year. If overhead is applied on the basis of direct labor hours, the overhead rate per hour will be: a. $2.25. b. $3.25. c. $3.45. d. $4.70. | 13 | The Samuelson Company uses a

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