ACCT 201 Study Guide - Midterm Guide: Eight-Hour Day, Finished Good, Full-Time Equivalent
30 Oct 2014
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Acct 201: exam 2 review packet with solutions. Topics: exam 2 will cover the following topics: Variable & absorption costing (focus on 3) Note: the review packet is intended to provide additional practice problems and solutions from the chapters covered on exam 2. It is not intended to cover every possible concept and term. Exam 2 review packet: refer to the following data to calculate conversion costs: Indirect material: ,000, ,000 (conversion costs = direct labor + manufacturing overhead, ,000, ,000, ,000, refer to the following data to calculate beginning finished goods inventory: 16,000: ,000, ,000, ,000, ,000, none of the above. Percy has 2,000 full-time employees and 800 part-time employees. What is the number of full-time equivalent employees: 2,000, 1,400, 2,400, 2,800. Full-time employees (fte) = 8 hours / day. Part-time employees = 4 hours / day so it takes 2 part-time employees to equal 1 fte. 2,000 + (800 2) = 2,400 full-time equivalent employees.
