ACC 5361 TXst
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Normal costing assigns normal costs of direct materials, direct labor, and manufacturing overhead to | FALSE
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| 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
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| Theoretical activity capacity is the maximum activity output that can be realized assuming everything | false
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| Expected activity capacity avoids assigning unused capacity costs to products and encourages | false
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| Functional-based costing uses batch-level activity drivers as well as facility-level activity drivers. | false
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| A company manufactures two products. It would be appropriate to use a plant-wide rate if the two | true
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| An activity dictionary is the result of interview-derived data. It would include a listing of all the activities in | true
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| 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
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| An example of a batch-level activity is assembling the product. | false
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| Facility-level activities are product related | false
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| The total cost to manufacture 500 radios is $1,000. The unit cost of the radios is: | Unit cost is $1,000/500 = $2
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| What are some of the symptoms of an outdated functional costing system? | Profit margins are difficult to explain
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| 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
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| If the cost object is credit cards, an example of a secondary activity is | supervising employees.
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| 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
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| 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
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| Which of the following would be classified as a product-level activity? | advertising a product
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| 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
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Created by:
buck56
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