35. Which of the following is not one of the four steps in accounting for production activity and assigning costs during a period under a process cost system? A. Determine over or underapplied overhead. B. Determine the physical flow of units. C. Compute the equivalent units of production. D. Compute the cost per equivalent unit of production. E. Assign and reconcile costs.

61. The cost object(s) of the departmental overhead rate method is: A. The unit of product. B. The production departments of the company. C. The production departments in the first stage and the unit of product in the second stage. D. The unit of product in the first stage and the production departments in the second stage. E. The production activities of the company.

62. Which of the following statements is true with regard to the departmental overhead rate method? A. It is logical to use this method when overhead resources are consumed by various products in substantially the same way throughout multiple departments. B. It is logical to use this method when overhead resources are consumed by various products in substantially different ways throughout multiple departments. C. Each department has the same rate for the same activity pool. D. It requires one overhead cost pool and one rate. E. It is synonymous with activity-based costing.

63. The cost object(s) of the activity-based costing method is(are): A. The unit of product. B. The production departments of the company. C. The production activities of the company. D. The production activities in the first stage and the unit of product in the second stage. E. The unit of product in the first stage and the production activities in the second stage.

64. From an ABC perspective, what causes costs to be incurred? A. Financial transactions. B. The volume of units produced. C. Debits and credits. D. Management decisions. E. Activities.

65. Which of the following statements is true with regard to activity-based costing rates? A. The premise of ABC is that activities are what cause costs to be incurred. B. ABC is another way to refer to a multiple departmental rate situation. C. There one basic stage to ABC. D. ABC is simpler and less expensive to implement than other traditional methods of allocating overhead costs. E. All cost drivers used to determine the rates will be unit-level drivers.