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Past Exam for ACIS 3215 - Cost Accounting with Killough at Virginia Tech (VT)

Exam Information

Material Type:Exam 2
Professor:Killough
Class:ACIS 3215 - Cost Accounting
Subject:Accounting & Information Systems
University:Virginia Polytechnic Institute And State University
Term:Fall 2004
Keywords:
  • Fixed Overhead Expenses
  • Cost Accounting System
  • Accounting Test
  • Special Order
  • Selling Costs
  • Departments
  • Factory Overhead
  • Raw Materials
  • Continued...
  • Relevant Costs
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Sample Document Text

Nam COST ACGOUNTING ACIS 3215 Larry N. Killough Test 2 ' FALL 2004 On my honor, I have neither given nor received aid on this cost accounting test. Signature PART I: BUDGETING ./ 1. A company has budgeted sales as follows: Units January 16,000 February 18,000 March 18,000 IX'( Q o<;,~ 9 Qt')";;; I Q ,l::tQ..J ........ tr " April 20,000 " ) .. ' The ending finished goods inventory for each month equals 50% of the next month's bUQgeted sales. Additionally, 3 pounds of raw materials are required for each finished unit produced. The ending raw materialsl in'1entory for each month equals 200% of the next month's production requirements. &JMRLary raw materials inventory was 20,000 pounds. If the raw materials cost $4.00 per pound and must be paid for in the month purchased, what are the budgeted raw materials purchases (in dollars) for February? J em Ilt(l'/ ZS; Q-'Q '.(3:: "}$p::o F(l ~J~) -:r_')/cJ~J~;" > q"1 Do\) A company has the following 2004 bud...

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