ACCT 346 Course Great Wisdom / tutorialrank.com ACCT 346 Course Great Wisdom / tutorialrank.com | Page 6

(TCO 1) You own a car and are trying to decide whether or not to
trade it in and buy a new car. Which of the following costs is an
opportunity cost in this situation?
4. Question :
(TCO 1) Shula’s 347 Grill has budgeted the following costs for a
month in which 1,600 steak dinners will be produced and sold:
materials, $4,080; hourly labor (variable), $5,200; rent (fixed),
$1,700; depreciation, $800; and other fixed costs, $600. Each steak
dinner sells for $14.00 each. How much is the budgeted variable cost
per unit?
5. Question :
(TCO 1) Which of the following is an example of a manufacturing
overhead cost?
6. Question :
(TCO 1) Product costs
7. Question :
(TCO 1) At December 31, 2010, WDT Inc. has a balance in the Work
in Process Inventory account of $62,000. At January 1, 2010, the
balance was $55,000. Current manufacturing costs for the year are
$292,000, and cost of goods sold is $284,000. How much is cost of
goods manufactured?
8. Question :
(TCO 2) BCS Company applies manufacturing overhead based on
direct labor hours. Information concerning manufacturing overhead
and labor for August follows:
Estimated
Actual
9. Question :