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Past Exam for ACIS 2116 - Principles of Accounting at Virginia Tech (VT)

Exam Information

Material Type:Exam 3
Professor:Staff
Class:ACIS 2116 - Principles of Accounting
Subject:Accounting & Information Systems
University:Virginia Polytechnic Institute And State University
Term:Summer I 2001
Keywords:
  • Material Price Variances
  • Practical Standards
  • Favorable Labor
  • Quantity Variance
  • Ideal Standards
  • Materials Price Variance
  • Labor Rate Variance
  • Labor Efficiency Variance
  • Material Price
  • Cash Balance
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Sample Document Text

PART I TRUE/FALSE PART II MULTIPLE CHOICE PART II ABC COSTING PART III VARIANCES PART IV BUDGETING GENERAL INSTRUCTIONS: ACCOUNTING 2116 TEST III August 2, 2001 INSTRUCTOR C(~AI~7'fU~~f:. 24 POINTS 34 POINTS 9 POINTS 18 POINTS 15 POINTS 100 POINTS 1) Check your test booklet to detelmine whether it includes all of the parts listed above. 2) Be sure to read instructions to all problems very carefully. 3) Budget your time wisely. 4) If an answer requires a computation, the computation must be shown. ANSWERS UNSUPPORTED BY CALCULATIONS WILL LOSE CREDIT. 5) The use of a calculator is NOT permitted. 6) The Department of Accounting supports the Virginia Tech Honor System in every possible way. PLEDGE: 1 Part I: True/False, 12 questoins @ 2 each. Indicate your answer by using: I=True 2=False ~I) Unit-Ievel·activities arise as a result of the total volume of production and are performed each time a unit is produced. '1' Y 2) In traditional costing systems, ...

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