Hum 176 Week 4 Midterm Appendix A

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This paperwork of HUM 176 Week 4 Midterm Appendix A consists of: 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. 2. What are the greatest benefits of social media for individuals and society? 3. What are the greatest problems of social media for individuals and society? 4. How have modern social media sites affected commerce? Include positive and negative examples in your answer. 5. How has the Internet changed the way many Americans consume information? Explain the importance and value of the availability of information on the Internet. 6. How might you determine if information found online is trustworthy? Describe credibility issues with information found on the Internet. 7. In what ways have politicians used the Internet in campaigning and in staying in touch with constituents? What is the overall effect of the Internet on politics? 8. Newspapers, once available only in print, have evolved into 24-hour multimedia operations. In addition to newspapers, briefly describe the evolution of movies, television, Internet, books and magazines, and media companies throughout the last century. 9. What is media convergence? Provide an example of media convergence and explain the media elements that are being combined. Explain how the combination of media elements in your example may be useful and to whom. 10. How has media convergence changed American culture?

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Deadline: ( ), General Questions - General General Questions ACC 121 Mid Term Take Home Test 1. Dolan Company's accounting records reflect the following inventories: During 2013, $600,000 of raw materials were purchased, direct labor costs amounted to $500,000, and manufacturing overhead incurred was $480,000. The total raw materials available for use during 2013 for Dolan Company is a. $910,000. b. $460,000. c. $550,000. d. $860,000. Answer: _____ 2. Based on the same information as in question 1, answer the following question. If Dolan Company's cost of goods manufactured for 2013 amounted to $1,390,000, its cost of goods sold for the year is a. $1,500,000. b. $1,250,000. c. $1,350,000. d. $1,430,000. Answer: _____ 3. Edmiston Company reported the following year-end information: beginning work in process inventory, $80,000; cost of goods manufactured, $780,000; beginning finished goods inventory, $50,000; ending work in process inventory, $70,000; and ending finished goods inventory, $40,000. How much is Edmiston’s cost of goods sold for the year? a. $780,000 b. $790,000 c. $770,000 d. $800,000 Answer: _____ 4. Assuming the cost of direct materials used is $1,500,000, compute the total manufacturing costs using the information below. a. $2,990,000. b. $2,981,000. c. $2,690,000. d. $3,620,000. Answer: _____ 5. Penner Company reported total manufacturing costs of $410,000, manufacturing overhead totaling $78,000, and direct materials totaling $96,000. How much is direct labor cost? a. Cannot be determined from the information provided. b. $584,000 c. $174,000 d. $236,000 Answer: _____ 6. Given the following data for Glennon Company, compute (A) total manufacturing costs and (B) costs of goods manufactured: a. $750,000 $790,000 b. $770,000 $750,000 c. $770,000 $790,000 d. $790,000 $810,000 Answer: _____ 7. Barton Company has beginning work in process inventory of $144,000 and total manufacturing costs of $686,000. If cost of goods manufactured is $640,000, what is the cost of the ending work in process inventory? a. $170,000. b. $198,000. c. $210,000. d. $190,000. Answer: _____ 8. Gammil Company has beginning and ending raw materials inventories of $96,000 and $120,000, respectively. If direct materials used were $440,000, what was the cost of raw materials purchased? a. $440,000. b. $470,000. c. $416,000. d. $464,000. Answer: _____ 9. Molina Company has beginning and ending work in process inventories of $130,000 and $145,000 respectively. If total manufacturing costs are $650,000, what is the total cost of goods manufactured? a. $780,000. b. $795,000. c. $635,000. d. $665,000. Answer: _____ 10. Costas Company has beginning and ending raw materials inventories of $64,000 and $80,000, respectively. If direct materials used were $290,000, what was the cost of raw materials purchased? a. $290,000. b. $310,000. c. $274,000. d. $306,000. Answer: _____ 11. Wood Company has beginning work in process inventory of $128,000 and total manufacturing costs of $477,000. If cost of goods manufactured is $480,000, what is the cost of the ending work in process inventory? a. $110,000. b. $131,000. c. $140,000. d. $125,000. Answer: _____ 12. Given the following data for Harder Company, compute cost of goods manufactured: a. $460,000 b. $470,000 c. $480,000 d. $490,000 Answer: _____ 13. Kinney Company applies overhead on the basis of 150% of direct labor cost. Job No. 176 is charged with $100,000 of direct materials costs and $120,000 of manufacturing overhead. The total manufacturing costs for Job No. 176 is a. $220,000. b. $400,000. c. $300,000. d. $270,000. Answer: _____ 14. Norman Company manufactures customized desks. The following pertains to Job No. 953: What is the total manufacturing cost for Job No. 953? a. $37,200 b. $40,400 c. $43,200 d. $46,400 Answer: _____ 15. Minton Company provided the following information from its accounting records for 2013: How much is the overhead application rate if Minton Company bases it on direct labor hours? a. $25.00 per hour b. $26.79 per hour c. $25.89 per hour d. $24.17 per hour Answer: _____ 16. Simpson Company applies overhead on the basis of 200% of direct labor cost. Job No. 305 is charged with $150,000 of direct materials costs and $200,000 of manufacturing overhead. The total manufacturing costs for Job No. 305 is: a. $350,000 b. $450,000 c. $500,000 d. $550,000 Answer: _____ 17. For Wilton Company, the predetermined overhead rate is 70% of direct labor cost. During the month, $360,000 of factory labor costs are incurred of which $100,000 is indirect labor. Actual overhead incurred was $180,000. The amount of overhead debited to Work in Process Inventory should be: a. $182,000 b. $180,000 c. $252,000 d. $260,000 Answer: _____ 18. At the beginning of the year, Monroe Company estimates annual overhead costs to be $1,600,000 and that 300,000 machine hours will be operated. Using machine hours as a base, the amount of overhead applied during the year if actual machine hours for the year was 315,000 hours is a. $1,600,000. b. $1,523,809. c. $1,120,000. d. $1,680,000. Answer: _____ 19. Haight Company incurred direct materials costs of $1,500,000 during the year. Manu-facturing overhead applied was $270,000 and is applied at the rate of 60% of direct labor costs. Haight Company’s total manufacturing costs for the year was a. $2,220,000. b. $1,932,000. c. $1,770,000. d. $2,832,000. Answer: _____ 20. Greer Company developed the following data for the current year: How much is Greer Company's direct labor cost for the year? a. $381,000 b. $450,000 c. $348,000 d. $246,000 Answer: _____ 21. Chmelar Manufacturing Company developed the following data: How much are total manufacturing costs for the period? a. $1,580,000 b. $1,260,000 c. $1,100,000 d. $1,220,000 Answer: _____ 22. During 2013, Durham Manufacturing expected Job No. 51 to cost $300,000 of overhead, $500,000 of materials, and $200,000 in labor. Durham applied overhead based on direct labor cost. Actual production required overhead cost of $290,000, $550,000 in materials used, and $220,000 in labor. All of the goods were completed. What amount was transferred to Finished Goods? a. $1,070,000 b. $1,100,000 c. $1,000,000 d. $1,060,000 Answer: _____ 23. During 2013, Cotte Manufacturing expected Job No. 59 to cost $300,000 of overhead, $500,000 of materials, and $200,000 in labor. Cotte applied overhead based on direct labor cost. Actual production required an overhead cost of $290,000, $550,000 in materials used, and $220,000 in labor. All of the goods were completed. How much is the amount of over- or underapplied overhead? a. $10,000 underapplied b. $10,000 overapplied c. $40,000 underapplied d. $40,000 overapplied Answer: _____ 24. Kimble Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under- or overapplication of overhead for the period: a. $1,520,000 applied and $20,000 overapplied b. $1,600,000 applied and $20,000 overapplied c. $1,520,000 applied and $20,000 underapplied d. $1,463,000 applied and neither under- nor overapplied Answer: _____ 25. A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 80,000 units were started into production in January; and there were 20,000 units that were 40% complete in the ending work in process inventory at the end of January. What were the equivalent units of production for materials for the month of January? a. 88,000 equivalent units. b. 72,000 equivalent units. c. 60,000 equivalent units. d. 80,000 equivalent units. Answer: _____ 26. A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 80,000 units were started into production in January; and there were 20,000 units that were 40% complete in the ending work in process inventory at the end of January. What were the equivalent units of production for conversion costs for the month of January? a. 60,000 equivalent units. b. 72,000 equivalent units. c. 68,000 equivalent units. d. 80,000 equivalent units. Answer: _____ 27. If beginning work in process is 4,000 units, ending work in process is 2,000 units, and the units accounted for equals 12,000 units, what must units started into production be? a. 16,000. b. 14,000. c. 8,000. d. 10,000. Answer: _____ 28. Holton Company has the following equivalent units for July: materials 20,000 and conversion 18,000. Production cost data are: a. a b. b c. c d. d Answer: _____ 29. Materials costs of $500,000 and conversion costs of $535,500 were charged to a processing department in the month of September. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. There were no units in beginning work in process, 100,000 units were started into production in September, and there were 8,000 units in ending work in process that were 40% complete at the end of September. What was the total amount of manufacturing costs assigned to the 8,000 units in the ending work in process? a. $40,000. b. $18,000. c. $34,000. d. $58,000. Answer: _____ 30. If equivalent units are 12,000 for conversion costs and units transferred out equals 8,000, what stage of completion should the ending work in process be for the 16,000 units remaining? a. 75%. b. 25%. c. 10%. d. 20%. Answer: _____ 31. In the month of April, a department had 500 units in the beginning work in process inventory that were 60% complete. These units had $40,000 of materials costs and $30,000 of conversion costs. Materials are added at the beginning of the process and conversion costs are added uniformly throughout the process. During April, 10,000 units were completed and transferred to the finished goods inventory and there were 2,000 units that were 25% complete in the ending work in process inventory on April 30. During April, manufacturing costs charged to the department were: Materials $920,000; Conversion costs $1,020,000. The cost assigned to the units in the ending work in process inventory on April 30 was a. $240,000. b. $210,000. c. $160,000. d. $290,000. Answer: _____ 32. The last department in a production process shows the following information at the end of the period: How many units have been transferred out to finished goods during the period? a. 200,000. b. 225,000. c. 250,000. d. 175,000. Answer: _____ 33. Honrad Company's Assembly Department has materials cost at $4 per unit and conversion cost at $8 per unit. There are 20,000 units in ending work in process, all of which are 70% complete as to conversion costs. How much are total costs to be assigned to inventory? a. $112,000. b. $192,000. c. $168,800. d. $240,000. Answer: _____ 34. In a process cost system, units to be accounted for in a department are equal to the a. number of units started or transferred into the department. b. number of units transferred out of the department. c. units in the beginning inventory plus the units started or transferred into the department. d. ending inventory plus the units started or transferred into the department. Answer: _____ 35. A department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of July, there was no beginning work in process; 40,000 units were completed and transferred out; and there were 20,000 units in the ending work in process that were 40% complete. During July, $96,000 materials costs and $84,000 conversion costs were charged to the department. The unit production costs for materials and conversion costs for July was a. a b. b c. c d. d Answer: _____ 36. In Kapler Company, the Cutting Department had beginning work in process of 8,000 units, transferred out 20,000 units, and had an ending work in process of 4,000 units. How many units were started by Kapler during the month? a. 12,000. b. 16,000. c. 20,000. d. 24,000. Answer: _____ 37. Charley Company’s Assembly Department has materials cost at $3 per unit and conversion cost at $6 per unit. There are 20,000 units in ending work in process, all of which are 70% complete as to conversion costs and 100% complete as to materials. How much are total costs to be assigned to inventory? a. $84,000. b. $144,000. c. $126,000. d. $180,000. Answer: _____ 38. Daffodil Company produces two products, Flower and Planter. Flower is a high-volume item totaling 20,000 units annually. Planter is a low-volume item totaling only 6,000 units per year. Flower requires one hour of direct labor for completion, while each unit of Planter requires 2 hours. Therefore, total annual direct labor hours are 32,000 (20,000 + 12,000). Expected annual manufacturing overhead costs are $800,000. Daffodil uses a traditional costing system and assigns overhead based on direct labor hours. Each unit of Planter would be assigned overhead of a. $25.00. b. $30.77. c. $50.00. d. need more information to compute. Answer: _____ 39. Sitwell Corporation manufactures titanium and aluminum tennis racquets. Sitwell’s total overhead costs consist of assembly costs and inspection costs. The following information is available: Sitwell is considering switching from one overhead rate based on labor hours to activity-based costing. Total overhead costs assigned to titanium racquets, using a single overhead rate, are a. $60,000. b. $63,000. c. $75,000. d. $84,000. Answer: _____ 40. Based on the same information as in question 39, answer the following question. Using activity-based costing, how much assembly cost is assigned to titanium racquets? a. $15,750. b. $22,500. c. $23,625. d. $31,500. Answer: _____ 41. Based on the same information as in question 39, answer the following question. Using activity-based costing, how much inspections cost is assigned to titanium racquets? a. $22,500. b. $35,625. c. $37,500. d. $52,500. Answer: _____ 42. Teller, Inc. produces 3 products: P1, Q2, and R3. P1 requires 400 purchase orders, Q2 requires 600 purchase orders, and R3 requires 1,000 purchase orders. Teller has identified an ordering and receiving activity cost pool with allocated overhead of $180,000 for which the cost driver is purchase orders. Direct labor hours used on each product are 50,000 for P1, 40,000 for Q2, and 110,000 for R3. How much ordering and receiving overhead is assigned to each product? a. a b. b c. c d. d Answer: _____ 43. Hagar Co. computed an overhead rate for machining costs ($1,500,000) of $15 per machine hour. Machining costs are driven by machine hours. If computed based on direct labor hours, the overhead rate for machining costs would be $30 per direct labor hour. The company produces two products, Cape and Chap. Cape requires 60,000 machine hours and 20,000 direct labor hours, while Chap requires 40,000 machine hours and 30,000 direct labor hours. Using activity-based costing, machining costs assigned to each product is a. a b. b c. c d. d Answer: _____ 44. Wilder Company manufactures two models of its banjo, the Basic and the Luxury. The Basic model requires 10,000 direct labor hours and the Luxury requires 30,000 direct labor hours. The company produces 3,400 units of the Basic model and 600 units of the Luxury model each year. The company inspects one Basic for every 100 produced, and inspects one Luxury for every 10 produced. The company expects to incur $84,600 of total inspecting costs this year. How much of the inspecting costs should be allocated to the Basic model using ABC costing? a. $21,150 b. $30,600 c. $42,300 d. $71,910 Answer: _____ 45. Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department to be $330,000. The company produces 300,000 wheels and 600,000 seats each year. Each wheel uses 2 parts, and each seat uses 3 parts. How much of the assembly overhead should be allocated to wheels? a. $ 82,500. b. $110,000. c. $132,000 d. $141,428. Answer: _____ 46. A company incurs $2,700,000 of overhead each year in three departments: Ordering and Receiving, Mixing, and Testing. The company prepares 2,000 purchase orders, works 50,000 mixing hours, and performs 1,500 tests per year in producing 200,000 drums of Goo and 600,000 drums of Slime. The following data are available: Compute the amount of overhead assigned to Goo using ABC. a. $ 675,000 b. $ 860,000 c. $1,054,764 d. $1,350,000 Answer: _____ 47. A company incurs $2,700,000 of overhead each year in three departments: Ordering and Receiving, Mixing, and Testing. The company prepares 2,000 purchase orders, works 50,000 mixing hours, and performs 1,500 tests per year in producing 200,000 drums of Goo and 600,000 drums of Slime. The following data are available: Compute the amount of overhead assigned to Slime using ABC. a. $1,350,000 b. $1,645,234 c. $1,840,000 d. $2,025,000 Answer: _____ 48. Wallace Computer Company produces three products: Earth, Wind, and Fire. Earth requires 80 machine setups, Wind requires 60 setups, and Fire requires 180 setups. Wallace has identified an activity cost pool with allocated overhead of $720,000 for which the cost driver is machine setups. How much overhead is assigned to each product? a. a b. b c. c d. d Answer: _____ 49. Sofa Company manufactures two models of its couch, the Mini and the Maxi. The Mini model requires 10,000 direct labor hours and the Maxi model requires 40,000 direct labor hours. The company produces 4,000 units of the Mini model and 1,000 units of the Maxi model each year. The company produces the Mini model in batch sizes of 200, while it produces the Maxi model in batch sizes of 100. The company expects to incur $240,000 of total setup costs this year. How much of the setup costs are allocated to the Mini model using ABC costing? a. $160,000 b. $120,000 c. $48,000 d. $200,000 Answer: _____ 50. A company incurs $2,400,000 of overhead each year in three departments: Processing, Packaging, and Testing. The company performs 800 processing transactions, 200,000 packaging transactions, and 2,000 tests per year in producing 400,000 drums of Oil and 600,000 drums of Sludge. The following data are available: The amount of overhead assigned to Sludge is a. $1,200,000. b. $1,105,000. c. $1,295,000. d. $ 920,000. Answer: _____

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College may be a time for many new experiences, but it's also a time for serious learning. In order to pass your college courses, you need to be focused, do your work, and study. The following tips will help you study better for your college classes and lead you to good grades.