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ACC 5361 ch 4 test 1
ACC 5361 TXst
| Question | Answer |
|---|---|
| Normal costing assigns normal costs of direct materials, direct labor, and manufacturing overhead to | FALSE |
| Predetermined overhead rate is calculated by taking total budgeted overhead cost by estimated activity | TRUE - Predetermined overhead is calculated by dividing total budgeted overhead cost by estimated |
| Theoretical activity capacity is the maximum activity output that can be realized assuming everything | false |
| Expected activity capacity avoids assigning unused capacity costs to products and encourages | false |
| Functional-based costing uses batch-level activity drivers as well as facility-level activity drivers. | false |
| A company manufactures two products. It would be appropriate to use a plant-wide rate if the two | true |
| An activity dictionary is the result of interview-derived data. It would include a listing of all the activities in | true |
| Primary activity is an activity consumed by a product or customer. | true feedback: Correct. Primary activity is an activity consumed by a product or customer. Secondary activities are |
| An example of a batch-level activity is assembling the product. | false |
| Facility-level activities are product related | false |
| The total cost to manufacture 500 radios is $1,000. The unit cost of the radios is: | Unit cost is $1,000/500 = $2 |
| What are some of the symptoms of an outdated functional costing system? | Profit margins are difficult to explain |
| The activity attribute(s) included in the activity dictionary would be: | Activity attributes included in the activity dictionary would be activity driver, activity name, and types |
| If the cost object is credit cards, an example of a secondary activity is | supervising employees. |
| The first stage of activity-based costing is to assign costs to activities. The next step would be to: | assign the cost of secondary activities to those activities that consume their output |
| Which of the following activity levels should not be allocated to products for decision-making purposes? | Facility-level activities benefit the organization as a whole but do not provide benefit for a specific |
| Which of the following would be classified as a product-level activity? | advertising a product |
| A material amount of overhead variance is closed to | A material amount of overhead variance is closed to cost of goods sold, finished goods, and work |
Created by:
buck56
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