Joined: 23 Feb 2009
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Posted: 18 Jun 2009 at 12:53 | IP Logged
Hey mine is Dparkx81@gmail.com.
Is anyone from the DC/MD/VA area also?
__________________ Dparkx81
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Joined: 21 May 2009 Location: United States
Online Status: Offline Posts: 44
Posted: 18 Jun 2009 at 13:42 | IP Logged
Can someone here help me for these two questions 2009 AICPA released qestions(#33 &44). My exam is in two weeks, I just did 2009 AICPA released questions and got 35/50, so nervous.
BTW, I got 45/50 for 2005 & 2006 AICPA released questions; 46/49 for 2007, 42/50 for 2008. I think 2009 released questons are hard.
Question #33
to measure inventory management performance, a company monitors its inventory turnover ratio. Listed below are selected data from the company's accounting records:
Beginning finished goods inventory for the current year was 15% of the prior-year's annual sales, and ending finished goods inventory was 22% of the current-year's annual sales. what was the company's inventroy turnover at the end of the current period?
a. 1.82
b. .31
c. 2.73
d. 3.47
ans: d.
queston #44:
Merry co. has two major categories of factory overhead: material handling and quality control. the costs expected for these categories for the coming year as follows:
material handling &nbs p; $120,000
quality inspection $200,000
the plant currently applies overhead based on direct labor hours. the estimated direct labor hours are 80,000 per year. The plant manager is asked to submit a bid and assembles the following data on a proposed job:
DM $4000
DL (2000hours) 6000
what amount is the estimated product cost on the proposed job?
a. $8,000
b. 10,000
c. 14,000
d. 18,000
Ashley I am stumped on both of these as well......not good at all for me seeing as though I am finishing up my cost section of review and still can't get these answers. maybe I need another week of studying, LOL!
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