Question
Could you please help me with the below multiple choice questions. - Intro Managerial Accounting Text book Questions. 1, Which of the following is not
Could you please help me with the below multiple choice questions. - Intro Managerial Accounting Text book Questions.
1, Which of the following is not a cost driver?
| A) | Machine hours | |
| B) | Computer time | |
| C) | Hospital beds occupied | |
| D) | Advertising manager's salary |
2. Which of the following companies would not use job-order costing?
| A) | A clothing manufacturer | |
| B) | A commercial aircraft manufacturer | |
| C) | An accounting firm | |
| D) | None of the above |
3. Which of the following statements is true?
| A) | Normal costing assigns fixed and variable manufacturing overhead costs to products | |
| B) | Job-order costing systems are used when companies produce many different types of products | |
| C) | Absorption costing assigns cost to products by multiplying the actual overhead rate by the actual amount of the allocation base | |
| D) | A hospital is more likely to use a process costing system than a job-order costing system |
4. You have agreed to host a hospital benefit dinner. The restaurant quotes you the following costs: Meal: $30; Gratuity: 15%; Banquet Room: $200; Entertainment: $500. Two hundred people will attend the dinner. What should you charge per person to cover your costs?
| A) | $38 | |
| B) | $34 | |
| C) | $41 | |
| D) | $27 |
5. The predetermined overhead rate is $65 per machine hour, underapplied overhead is $5,000, and the actual amount of machine hours is 1,000. What is the actual amount of total manufacturing overhead incurred?
| A) | $65,000 | |
| B) | $60,000 | |
| C) | $70,000 | |
| D) | None of the above |
6. In job-order costing, all of the following statements are correct except for:
| A) | Job-order costing is used extensively in service industries | |
| B) | In a job-order costing system, costs are traced and allocated to departments | |
| C) | Job-order costing is used in companies where many different products are produced each period | |
| D) | A catering company that prepares meals for different airlines would use job-order costing |
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Environmental And Safety Auditing Program Strategies For Legal International And Financial Issues
Authors: Unhee Kim, John F. Falkenbury, Timothy A. Wilkins, Ralph Rhodes, Richard J. Satterfield
1st Edition
1566702461, 978-1566702461
