ACCT
504 New taken Final Exam
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• Question
1
5 out of 5 points
Product costs:
• Question
2
Use the following
information and the indirect method to calculate the net cash provided or used
by operating activities:
Cash paid for purchase of plant assets $15,000
Decrease in interest payable 2,000
Depreciation expense 30,000
Gain on retirement of bonds 32,000
Increase in accounts receivable 40,000
Loss on sale of plant assets 5,000
Net Income 76,000
• Question
3
0 out of 5 points
Actual fixed overhead for Kapok Company during
March was $92,780. The flexible budget for fixed overhead this period is
$89,000 based on a production level of 5,000 units. If the company actually
produced 4,200 units what is the fixed overhead volume variance for March?
• Question
4
5 out of 5 points
A company's income statement
showed the following: net income, $124,000; depreciation expense, $30,000; and
gain on sale of plant assets, $14,000. An examination of the company's current
assets and current liabilities showed the following changes as a result of
operating activities: accounts receivable decreased $9,400; merchandise
inventory increased $18,000; prepaid expenses decreased $6,200; accounts
payable increased $3,400. Calculate the net cash provided or used by operating
activities.
• Question
5
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