ACCT 200 I II III IV V VI VII VIII Final Exam Chapter 4 is most heavily tested then Chapter 10 then 13 then 11 then 12 FOB shipping point buyer pays shipping and carries risk of loss in trtansit increase cost of inventory shipping FOB destination seller pays shipping assumes risk of loss in transit seller records shipping as expense Online Practice Exam 7 at least two problems like this a Beginning materials 0 b materials purchased 285000 c indirect materials 35000 d direct materials X e ending materials 25000 f X 225000 Practice Exam 8 a DM 225000 b DL X c FOH 65000 d Total manufacturing cost 465000 e X 175000 f WIP manufacturing cost Flow Chart a End materials i Beginning materials ii purchases iii indirect materials used iv direct materials used b ending WIP i beginning WIP ii direct materials from above direct materials used iii direct labor iv applied FOH v transfers to finished goods c Ending finished goods i Beginning finished goods ii transfers from WIP from above transfers to finished goods iii cost of goods sold expense Practice Exam 12 a 34000 1000 33000 net purchases b purchase discount 33000 x 02 660 c 33000 660 32340 Practice Exam 13 a b c d Increase AIR 34000 Increase sales revenue 34000 Cost of goods expense 18500 Inventory 18500
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