Circle the letter that corresponds to the correct answer. 1. ABC is a costing method that is providing managers with cost information for strategic and other decisions and affect: A Variable cost and Fixed cost B) Variable Cost C) Fixed cost D) None of the above 2. The main differences between ABC and traditional cost accounting includes: A) ABC assigns nonmanufacturing costs to specific products B) ABC assigns manufacturing costs to specific products C) Some manufacturing costs may be excluded from product costs D A, B and C 3. Budgeted balance sheet includes: A) Details about revenues and expend in costs over the next quarter or year B) Information about sales, expenses, and net income or loss C) Summary of the organization budget during the year D) Costs of manufactured overhead, finished good, and inventory 4. An example of transaction driver is: A) Direct labor hours worked B) Amount of time required to inspect items C) Speed of the machine to produce an item D) Time required to prepare the order 5. An example of unit-level activity is: A) Purchase orders B) Cost of direct material C) Product design changes D) Customer service calls 6. Self-Imposed Budget is prepared and involved managers at: A All management levels B) Top management level C) Middle management level D) Lower management level Scanned with CamScanner