AC 505 AC505 Unit 3 Quiz Answers (Kaplan University)

AC 505 Unit 3 Quiz (Kaplan University)

1. Excelsior Corporation recently used $90,000 of direct materials and $1,500 of indirect materials in production activities. To record these transactions Excelsior would:
2. Addison Company produces two products: A and B.  Annual production and sales is 1,000 units of Product A and 500 units of Product B.  The company uses activity- based costing to  determine product costs.  The estimated overhead costs and expected activity for each of the company's three overhead activity centers are as follows:
3. Jasmine Company uses activity-based costing to determine unit product costs for external reports.  The company has two products: A and B. The annual production and sales of Product A is 10,000 units and of Product B is 4,000 units.  There are three overhead activity centers, with estimated overhead costs and expected activity as follows: 
4. Elliott Company uses a predetermined overhead rate based on machine hours to apply manufacturing overhead to jobs. The company manufactures tools to customer specifications. The following data pertain to Job 1501:
5. When goods being manufactured are completed, the company should:
6. Which of the following is the proper sequence of events in an activity-based costing system?
7. The labor time required to assemble a part is an example of a:
8. The salaries of a manufacturing plant's management are an example of a:
9. Activity-based costing systems:
10. Anaheim Corporation operates a highly automated plant that produces various components used in commercial aircraft. If the firm uses activity-based costing, freight charges on goods sent to customers would best be charged to various product-lines on the basis of: