ACCT 349 ACCT349 Week 3 Quiz Answers
ACCT 349 ACCT/349 ACCT349 Week 3 Quiz
TCO 1) Troy Company derived the following costs relationship from a regression analysis of its monthly manufacturing overhead cost.
Y = $80,000 + $12X
where: Y = monthly manufacturing overhead cost
and X = machine hours.
The standard time required to manufacture one 6-unit case of Troy’s single product is 4 machine hours. Troy applies manufacturing overhead to production on the basis of machine-hours, and its normal annual production is 50,000 cases.
Troy’s predetermined fixed manufacturing overhead rate would be (Points : 6)
(TCO 1) Three criteria to use in identifying cost drivers from the potentially large set of independent variables that can be included in a regression model are (Points : 6)
(TCO 3) The best opportunity for cost reduction is (Points : 6)
(TCO 3) Each month, Haddock Company has $275,000 total manufacturing costs (20% fixed) and $125,000 distribution and marketing costs (36% fixed). Haddock’s monthly sales are $500,000.
The markup percentage on full costs to arrive at the target (existing) selling price is (Points : 6)
(TCO 3) The price of movie tickets for opening day and the few days following compared to the price 6 months later is an example of (Points : 6)
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(TCO 3) Managers are often required to make decisions about the future based