13. In comparison to byproducts, scrap materials always have A Higher sales value B. Equal sales value C Lower sales value D. No sales value E Scrap is the same as byproduct 14. When assigning costs using a process costing methods, what is the third step in the cost igning procedure? A Summarize the flow of physical unit of output 8. Summarize total costs to account for C Compute cost per equivalent units D. Compute output in terms of equivalent units E Assign total cost to units completed, spoiled, & inventory units 15. Which of the following is not a reason to allocate joint costs? A Customer profitability analysis when customers purchase a varying combination of joint products or byproducts as well as other products of the company B. Makes the calculation of inventoriable costs less revealing to financial statement readers C Contract litigation in which costs of joint products are key inputs D. Rate regulation when one of more of the jointly produced products or service is subject to price regulation E. Cost reimbursement under contract when only a portion of a business products or services is sold or delivered to a single customer 16. When value engineering, reducing costs can be achieved by all of the following except: A. Changing suppliers B. Production scheduling C. Using more expensive materials D. Staff Training E. Modify quantity of input consumed 17. If selling price at split off is not available, what method of joint cost allocation would a company likely use? A. Estimated net realizable value method B. Weighted-average method C. First-in, first-out method D. Constant gross margin percentage method E. No method would be available to use 18. A company has an unfavorable sales-volume contribution-margin variance of $12,500 and favorable static-budget contribution-margin variance of $5,250. It can then be assumed the company has: A. An unfavorable sales-mix contribution-margin variance of $17,750 B. A favourable flexible-budget contribution-margin variance of $17,750 C. A favourable sales-quantity contribution-margin of $7,250 D. An unfavorable flexible-budget contribution-margin of $7,250 E. A favorable sales-mix contribution-margin variance of $5,250