Product Undercosting" can lead to improper decisions associated with allocating financial capital all of the listed answers are correct setting inaccurate selling prices loss of net income Behavioural & Technical Consideration" implications should be routinely considered by management accountants to guide their work. An example of this would be provide reports to front line managers that plainly report on key items necessary to run their departments utilize budget preparation methodologies that would promote budget "buy in" by department managers all of the listed answers are correct routinely search for technology that would economically & accurately track "indirect costs" (thus changing them to "direct costs") Question 62 (1 point) Which of the following would most likely "cause" increased labour costs for assembling a toaster oven increased overhead costs incurred to make the toaster oven increased number of individual parts used to manufacture the toaster oven increased selling price of the toaster oven increased cost of materials used to make the toaster oven preparing the 4 Financial Statements Question 61 (1 point) True or False: The successful implementation of a Quality Program in an organization will eliminate non-conformances True False "Management Accounting" is mainly concerned with providing managers with the information they need to run their departments providing reports to "external" users maintaining the accuracy of the accounting system (example: General Ledger) all the listed answers are correct preparing the 4 Financial Statements True or False: "Variable" costing, with regards to inventory valuation, allows fixed manufacturing overhead costs incurred by a company to be assigned to inventory, but does not allow variable non-manufacturing costs to be assigned to inventory. True False True or False: Two variable costs will be highly "correlated" if they are both driven by the same cost driver True False True or False: Most business's typically monitor only financial (i.e. strictly measured in $'s) variance performance measures due to Cost-Benefit considerations. True False Project Managers can get a more timely estimation of "indirect costs" assigned to their individual projects using CVP Analysis Normal Costing Techniques Actual Costing Techniques Direct Costing Allocation Procedures