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bài tập kế toán bằng tiếng anh ở chương trình chất lượng cao, bài tập giúp sinh viên thực hành và hiểu rõ hơn các tình huống mà kiến thức lý thuyết truyền đạt. ngoài ra, bài tập còn là tài liệu giúp sinh viên trau dồi và rèn luyện thêm kỹ năng tính toán
MID-TERM EXAM ACADEMY OF December 2021 POLICY AND DEVELOPMENT International School of Economics and Finance Management Accounting Duration: 120 minutes TEST CODE: 03 Instructions Please read the instruction carefully before you start There are questions in this paper Each question carries different marks and full marks can be obtained for complete answers to all the questions There are 10 marks available on this paper A hand-held calculator may be used when answering questions on this paper but it must not be pre-programmed or able to display graphics text of algebraic equations Other materials are not allowed in the examination Cheating is forbidden and will result in the mark of ZERO Note: This is closed-book exam Question 1: (3.5 points) Moonphase Manufacturing produces premium juice and uses process costing There are two processing departments: Crushing and Packaging In the Packaging Department, direct materials are added at the end of the process Conversion costs are added evenly throughout each process The weighted-average method of process costing is used Data from November for the Packaging Department are as follows: Packaging Department Units: Beginning work in process: 450 bottles Transferred in from the Crushing Dept during November: 1,370 bottles Completed and transferred out during the period: 1,700 bottles Ending work in process (70% complete as to conversion work): 120 bottles Beginning work in process $2,302.2 Costs: (transferred in cost, $2,025; conversion costs, $277.2) Transferred in from the Crushing Dept during November $6,165 Materials cost added during November $2,380 Conversion costs added during November $1,685.2 Requirements Prepare a timeline for Packaging Department (0.5 point) Prepare a production cost report for the Packaging Department in November (3.0 points) Question 2: (3.5 points) Note: This is closed-book exam Grace, Inc is a consulting firm that offers optimal legal solutions Grace’s systems consultants provide direct labor at a rate of $235 per hour Clients are billed at 170% of direct labor cost Last month, Grace 's consultants spent 246 hours on Boswell, Inc The president of Grace decides to develop an ABC system to allocate these indirect costs She estimates indirect costs for this year amount to $290,000 and the company is expected to work 11,600 direct labor hours during the year She identifies three activities related to the total indirect costs - documentation preparation, travel and information technology (IT) support She figures that documentation costs are driven by the number of pages, travel costs are driven by the number of miles travelled, and IT support costs are driven by the number of direct labor hours worked Estimates of the costs and quantities of the allocation bases follow: Activity Allocation base Estimated costs Documentation preparation Pages $ 87,000 Travel Miles travelled $98,600 IT Support Direct labor hours $104,400 Total $290,000 The Boswell job used the following resources last month: Cost Driver Direct labor hours Pages Miles travelled Estimated quantity of allocation base 4,350 pages 49,300 miles 11,600 DLH Boswell 246 812 913 Requirements Compute the cost allocation rate for each activity point) (1.0 Compute the cost assigned to the Boswell job, using the ABC system point) (1.0 Compute the operating income from the Boswell job, using the ABC system (0.5 point) Assuming that Grace uses traditional costing method to allocate indirect cost (based on direct labor hours), calculate the operating income from the Boswell Note: This is closed-book exam job Comment on the results obtained (1.0 point) Question 3: (3.0 points) Raquez Company is an umbrella manufacturer Raquez sells a product for $17 per unit Variable costs are $8 per unit, and fixed costs are $37,800 per year Requirements Use the income statement equation approach to compute the number of units Raquez must sell each year to break even (0.5 point) Use the contribution margin ratio CVP formula to compute the dollar sales Raquez needs to earn $18,000 in operating income for 2020 (0.5 point) Graph Raquez’s CVP relationships Show the breakeven point, the sales revenue line, the fixed cost line, the total cost line, the operating loss area, the operating income area, and the sales in units and dollars when operating income of $18,000 is earned (1.0 point) Raquez is considering a quality improvement program that will increase the variable costs by $2 and the fixed costs by $12,400 Selling price will now be $21 per unit Compute the required sales in dollars in order to keep the operating income unchanged (1.0 point) END - Note: This is closed-book exam