diff --git a/actionpack/CHANGELOG.md b/actionpack/CHANGELOG.md
index f9af8934fd5a320835975e96552d72180f56837e..39105c5ca3516120505de52887e29cd048f029dd 100644
--- a/actionpack/CHANGELOG.md
+++ b/actionpack/CHANGELOG.md
@@ -1,17 +1,21 @@
 ## Rails 4.0.0 (unreleased) ##
 
+*   Fix #7646, the log now displays the correct status code when an exception is raised.
+
+    *Yves Senn*
+
 *   Allow pass couple extensions to ActionView::Template.register_template_handler call. *Tima Maslyuchenko*
 
-*   Sprockets integration has been extracted from Action Pack and the `sprockets-rails` 
+*   Sprockets integration has been extracted from Action Pack and the `sprockets-rails`
     gem should be added to Gemfile (under the assets group) in order to use Rails asset
-    pipeline in future versions of Rails. 
+    pipeline in future versions of Rails.
 
     *Guillermo Iguaran*
 
-*   `ActionDispatch::Session::MemCacheStore` now uses `dalli` instead of the deprecated 
-    `memcache-client` gem. As side effect the autoloading of unloaded classes objects 
-    saved as values in session isn't supported anymore when mem_cache session store is 
-    used, this can have an impact in apps only when config.cache_classes is false. 
+*   `ActionDispatch::Session::MemCacheStore` now uses `dalli` instead of the deprecated
+    `memcache-client` gem. As side effect the autoloading of unloaded classes objects
+    saved as values in session isn't supported anymore when mem_cache session store is
+    used, this can have an impact in apps only when config.cache_classes is false.
 
     *Arun Agrawal + Guillermo Iguaran*
 
diff --git a/actionpack/lib/action_controller/log_subscriber.rb b/actionpack/lib/action_controller/log_subscriber.rb
index a7c0e971e7fe70ee6970f02e04ddad61521b3045..f41d1bb4b90d31b38386bad7552d611d7e1a1db4 100644
--- a/actionpack/lib/action_controller/log_subscriber.rb
+++ b/actionpack/lib/action_controller/log_subscriber.rb
@@ -19,7 +19,8 @@ def process_action(event)
 
       status = payload[:status]
       if status.nil? && payload[:exception].present?
-        status = ActionDispatch::ExceptionWrapper.new({}, payload[:exception]).status_code
+        exception_class_name = payload[:exception].first
+        status = ActionDispatch::ExceptionWrapper.status_code_for_exception(exception_class_name)
       end
       message = "Completed #{status} #{Rack::Utils::HTTP_STATUS_CODES[status]} in %.0fms" % event.duration
       message << " (#{additions.join(" | ")})" unless additions.blank?
diff --git a/actionpack/lib/action_dispatch/middleware/exception_wrapper.rb b/actionpack/lib/action_dispatch/middleware/exception_wrapper.rb
index 7349b578d28c5bb1b38f9d593a2daa90c2363b2a..ae38c56a670d01147052fb2e778f213245ffe4ba 100644
--- a/actionpack/lib/action_dispatch/middleware/exception_wrapper.rb
+++ b/actionpack/lib/action_dispatch/middleware/exception_wrapper.rb
@@ -37,7 +37,7 @@ def rescue_template
     end
 
     def status_code
-      Rack::Utils.status_code(@@rescue_responses[@exception.class.name])
+      self.class.status_code_for_exception(@exception.class.name)
     end
 
     def application_trace
@@ -52,6 +52,10 @@ def full_trace
       clean_backtrace(:all)
     end
 
+    def self.status_code_for_exception(class_name)
+      Rack::Utils.status_code(@@rescue_responses[class_name])
+    end
+
     private
 
     def original_exception(exception)
diff --git a/actionpack/test/controller/log_subscriber_test.rb b/actionpack/test/controller/log_subscriber_test.rb
index 700fd788faab26bb6ba54175b2709535d6aff078..a72b6dde1a9305a1d74bc71cf167234b7a71adff 100644
--- a/actionpack/test/controller/log_subscriber_test.rb
+++ b/actionpack/test/controller/log_subscriber_test.rb
@@ -54,6 +54,10 @@ def with_exception
     def with_rescued_exception
       raise SpecialException
     end
+
+    def with_action_not_found
+      raise AbstractController::ActionNotFound
+    end
   end
 end
 
@@ -225,6 +229,17 @@ def test_process_action_with_rescued_exception_includes_http_status_code
     assert_match(/Completed 406/, logs.last)
   end
 
+  def test_process_action_with_with_action_not_found_logs_404
+    begin
+      get :with_action_not_found
+      wait
+    rescue AbstractController::ActionNotFound
+    end
+
+    assert_equal 2, logs.size
+    assert_match(/Completed 404/, logs.last)
+  end
+
   def logs
     @logs ||= @logger.logged(:info)
   end