ACCT 346 Week 3 Quiz – Solution 2 10 MCQ’s

ACCT 346 Week 3 Quiz – Solution 2

(TCO 2) Bubbas Crawfish Processing Company uses a traditional overhead allocation based on direct labor hours. For the current year overhead is estimated at $1,150,000 and direct labor hours are budgeted at 162,000 hours. Actual overhead was $1,100,000 and actual overhead hours worked were 150,000.

(TCO 2) Thibodeaux Limousine Corporation is trying to determine a predetermined manufacturing overhea(D) Estimated overhead for the upcoming year is $776,000. Budgeted machine hours are 105,000 hours, and budgeted labor hours are 17,500 hours at a rate of $10.00 per hour. Compute the predetermined overhead rate based on:

(TCO 1) List and briefly describe four of the five differences between managerial accounting and financial accounting

(TCO 2)The following information is available for Sappys Surgical Shears for the fiscal year ending December 31, 20XX.

(TCO 2) Match each of the following six terms with the phrase that most closely describes it. Each answer below may be used only

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