Student Learning Outcomes (SLO) for ACCT 125
SLO #1: Demonstrate the ability to identify and/or differentiate direct materials, direct labor, and
factory overhead costs.
Course Objective(s) covered: Assemble and process managerial accounting data into
information that is useful in making internal business decisions.
Department Learning Outcome covered: Identify costs which are relevant to a given
management decision.
Institutional Learning Outcome covered: Critical Thinking
SLO #2: Demonstrate the ability to journalize entries to materials inventory, work in process, and
finished goods.
Course Objective(s) covered: Assemble and process managerial accounting data into
information that is useful in making internal business decisions.
Identify order relation between whole numbers, fractions, fractions and decimals, and
decimals.
Department Learning Outcome covered: Apply the accounting skills necessary to
accumulate and summarize financial information for decision making.
Institutional Learning Outcome covered: Critical Thinking
SLO #3: Demonstrate the ability to calculate a plant wide predetermined factory overhead rate and
allocate overhead using that rate to work in process.
Course Objective(s) covered: Solve common managerial accounting problems.
Department Learning Outcome covered: Apply the accounting skills necessary to
accumulate and summarize financial information for decision making.
Institutional Learning Outcome covered: Critical Thinking
ACCT 125 SLO Sample Questions
Include all four problems from each outcome listed
Student Learning Outcome #1:
Choose the most correct answer.
1. Compute conversion costs given the following data: Direct Materials, $352,700; Direct Labor,
$196,300; Factory Overhead, $177,600.
Answer
$549,000
$726,600
$373,900
$530,300
2.
The cost of a manufactured product generally consists of which of the following costs?
Answer
Direct materials cost and factory overhead cost
Direct labor cost and factory overhead cost
Direct labor cost, direct materials cost, and factory overhead cost
Direct materials cost and direct labor cost
3. The cost of wages paid to employees directly involved in the manufacturing process in converting
materials into finished product is classified as:
Answer
factory overhead cost
direct labor cost
wages expense
direct materials cost
4. Which of the following is an example of a factory overhead cost?
Answer
Repair and maintenance cost on the administrative building
Factory heating and lighting cost
Insurance premiums on salespersons' automobiles
President's salary
Student Learning Outcome #2:
Choose the most correct answer.
1. In a job order cost accounting system, the entry to record the flow of direct materials into
production is:
Answer
debit Work in Process, credit Materials
debit Materials, credit Work in Process
debit Factory Overhead, credit Materials
debit Work in Process, credit Supplies
2. The entry to record direct labor costs into production in a job order cost accounting system is:
Answer
debit Factory Overhead, credit Work in Process
debit Finished Goods, credit Wages Payable
debit Work in Process, credit Wages Payable
debit Factory Overhead, credit Wages Payable
3. The correct entry for each sale of a finished good on account is:
Answer
debit Cost of Goods Sold, credit Finished Goods
debit Cost of Goods Sold, credit Finished Goods, debit Accounts Receivable,
credit Sales
debit Sales Expense, credit Finished Goods, credit Cash, credit Accounts
Receivable
debit Work in Process, credit Finished Goods, debit Accounts Receivable, credit
Sales
4. During the period, labor costs incurred on account amounted to $225,000 including $195,000
for production orders and $30,000 for general factory use. In addition, factory overhead
applied to production was $17,000. From the following, select the entry to record the actual
factory overhead costs incurred.
Answer
Accounts Payable
30,000
Factory Overhead
30,000
Factory Overhead
17,000
Accounts Payable
17,000
Work in Process
30,000
Factory Overhead
30,000
Factory Overhead
30,000
Wages Payable
30,000
Student Learning Outcome #3:
Choose the most correct answer.
1. The Collins Company forecasts that total overhead for the current year will be $12,000,000
and that total machine hours will be 200,000 hours. Year to date, the actual overhead is
$8,000,000 and the actual machine hours are 100,000 hours. If the Collins Company uses a
predetermined overhead rate based on machine hours for applying overhead, what is that
overhead rate?
Answer
$80 per machine hour
$120 per machine hour
$40 per machine hour
$60 per machine hour
2. The following budget data are available for Newest Company:
Estimated direct labor hours
Estimated direct dollars
Estimated factory overhead costs
9,000
$60,000
$154,000
If factory overhead is to be applied based on direct labor hours, the predetermined overhead rate
is
Answer
$2.57
$.39
$6.67
$17.11
3. A manufacturing company applies factory overhead based on direct labor hours. At the
beginning of the year, it estimated that factory overhead costs would be $360,000 and direct
labor hours would be 45,000. Actual manufacturing overhead costs incurred were $377,200,
and actual direct labor hours were 46,000. What is the predetermined overhead rate per direct
labor hour?
Answer
$8.00
$8.20
$8.38
$7.83
4. A manufacturing company applies factory overhead based on direct labor hours. At the
beginning of the year, it estimated that factory overhead costs would be $360,000 and direct
labor hours would be 45,000. Actual manufacturing overhead costs incurred were $377,200,
and actual direct labor hours were 46,000. The entry to apply the factory overhead costs for
the year would include a
Answer
debit to factory overhead for $360,000.
credit to factory overhead for $368,000.
debit to factory overhead for $377,200.
credit to factory overhead for $360,000.
Rubric for Acct 125
N/A
Student not present when SLO was administered.
0
No attempt at the problem(s) or answered no questions correctly.
1
Student demonstrates little to no understanding of the learning outcome
with only one correct answer.
2
Student demonstrates some understanding of the learning outcome but
unsatisfactory results with two correct answers.
3
Student demonstrates an acceptable level of understanding of the learning
outcome with three correct answers.
4
Student demonstrates an excellent level of understanding of the learning
outcome with four correct answers.
Math 50 Examples of Student Work (Scored)
Student Learning Outcome #1:
Simplify: 12 + 8 ÷ 4(7 – 5) + 32
Score: 1
Simplify: 12 + 8 ÷ 4(7 – 5) + 32
Score: 3
Simplify:
12 + 8 ÷ 4(7 – 5) + 32
Score: 2
Student Learning Outcome #2:
Subtract:
1
5
6 2
8
6
Subtract:
1
5
6 2
8
6
Score: 1
Subtract:
1
5
6 2
8
6
Score: 3
Score: 2
Student Learning Outcome #3:
Convert the mixed number to decimal form:
7
1
8
Score: 1
Convert the mixed number to decimal form:
7
1
8
7
1
8
Score: 2
Convert the mixed number to decimal form:
Score: 3