Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

multiple choice help me please Which of the following costs/expenses is included in product costs under both absorption costing and variable costing? A. Office equipment

multiple choice help me please image text in transcribed
image text in transcribed
image text in transcribed
Which of the following costs/expenses is included in product costs under both absorption costing and variable costing? A. Office equipment depreciation B. Variable manufacturing costs. C. Supervisory salaries. D. Variable selling expenses. 3 1 2 3 4 15 16 17 18 19 20 21 22 23 24 25 26 27 2 What is the costing method that can be used most easily with break-even analysis and other cost-volume-profit techniques? A Absorption costing. B. Process costing. C. Job-order costing. D. Variable costing. Which of the following activity levels is an example of the clerical activity associated with processing purchase orders to produce A Batch-level activity. B. Product-level activity. c. Organization-sustaining activity. D. Unit-level activity Which of the following statements about overhead allocation based on volume alone is correct? A. It will systematically overcost high-volume products and undercost low-volume products. B. It will systematically overcost low-volume products and undercost high-volume products. c. It must be used for external financial reporting. D. It is a key aspect of the activity-based costing model. 4 28 30 31 For which of the following industries would it NOT be appropriate to use process costing? A oil refining B. Grain milling c. Newsprint production D. Custom fumiture building 33 34 6 36 37 38 39 40 41 42 Which of the following contains the detailed cost data that support the Work in Process control account? A. The Manufacturing Overhead account 8. The Finished Goods inventory account c. Purchase requisitions D. Job cost sheets In a normal job-order costing wstem, the use of indirect materials would usually be recorded as a debit to which account? A. Work in Process B. Manufacturing Overhead. c. Finished Goods, D. Raw Materials 2 43 44 45 46 47 B The contribution margin ratio always increases when which of the following occurs? A Variable expenses as a percentage of sales decrease B. Break-even point increases C Fixed Costs increase D. Variable extenses as a percentage of sales increase 49 50 9 What will result from an increase in the activity level within the relevant range? A A proportionate increase in total fixed costs. B. An unchanged fixed cost per unit, c. A decrease in fixed cost per unit D. An increase in fixed cost per unit 10 for a lump manufacturing company, the cost of the insurance on its weiches that deliver tamps to customers is best described as a A Manufacturing overhead cost 8. Period cost. c. Differential cost of a lamp, b. Prune cost 55

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Quantitative Finance Its Development Mathematical Foundations And Current Scope

Authors: T. Wake Epps

1st Edition

0470431997, 9780470431993

More Books

Students also viewed these Finance questions

Question

Does your product/program have a descriptive and memorable slogan?

Answered: 1 week ago

Question

How does this compare with the Fog Index for your written message?

Answered: 1 week ago