Choose the best answer for each of the following questions. Transfer your answers to 1. Traditional and activity-based are the scantron shee A) B) Direct material costs based costing methods are different each other in determining Direct labor costs Manufacturing overhead costs D) Selling and administrative costs 2. Activity-based costing uses which of the following procedures? A) Overhead costs are traced directly to products. B) All overhead costs are treated as expenses as C) Overhead costs are first assigned to departments, then D) costs are first assigned to activity cost pools,then assigned to products assigned to 3. Designing a new product is an A) unit-level activity B) batch-level activity O) product-level activity D) facility-level activity example of a: 4. Under traditional costing, the costs of A) high-volume products B) low-volume products C) high-technology products D) low-technology products are likely to be over-stated 5. In which of the following situations, activity-based costing is far better than traditional costing in determining product costs? A) There is only one product. B) Not all activities are unit-level activities. C) The amount of overhead costs is insignificant. D) Activity-based coting uses a single overhead application base. 6. A mixed cost is a cost that has both: variable and fixed cost components B) product and period cost components C) manufacturing and selling cost components D) direct and indirect cost components If the level of activity increases: A) B) variable cost per unit and total fixed cost will increase. fixed cost per unit and total variable cost will increase. total variable cost will increase and fixed cost per unit will decrease. variable cost per unit and total variable cost will increase. 7. D) units. If the production level increases to 120 units A) the total cost will increase by $20. 8. Monaco Company has a variable cost. There is no fixed cost. The current production levelis 100 the total cost will increase by 20%. the per-unit cost will increase by $20. D) the per-unit cost will increase by 20%