QUESTION 13 2 points Save Answer Which of the following is the first step of the cost estimation process? Calculate variable costs Identify likely cost drivers Analyze correlations Conduct regression analysis QUESTION 14 2 points Save Answer In an effort to achieve short-run profit maximization, limited resources should first be allocated to the product with: The highest contribution margin per unit The highest contribution per unit of constraining factor The highest selling price per unit of constraining factor The lowest cost per unit of constraining factor QUESTION 15 2 points Save Answer In calculating the break-even point for a multi-product company, which of the following assumptions are commonly made? Number 1: Selling price is constant per unit. Number 2: Variable expenses are constant per unit. Number 3: A given sales mix percentage is maintained for all volume changes. Number 1 and Number 2 Number 1 and Number 3 Number 2 and Number 3 Number 1, Number 2, and Number 3QUESTION 16 Millard's Mops is preparing a cash flows budget for the year. The quarterly sales budget shows the following: Sales (# of mops) 1st Quarter = 100,000 2nd Quarter = 120,000 3rd Quarter = 180,000 4th Quarter = 160,000 Mops sell for an average cost of $2 each. Based on his review of last year's experience, Millard learned that 90% of the revenues are collected in the quarter the items are sold and the remaining 10% are collected in the following quarter. What is the total amount of expected cash collections during the third quarter? 0 $174,000 0 $179,000 0 $343,000 0 $353,000 QUESTION 17 Alden Company currently uses traditional costing procedures, applying $200,000 of overhead to products A and B (the company's only two products) on the basis of direct labor hours. The rm is considering a shift to activity-based costing and the creation of individual cost pools that will use direct labor hours (DLH), production setups (SU), and number of parts components (PC) as cost drivers. Data on the cost pools and respective driver volumes follow. Pool No.1 Pool No.2 Pool No.3 Product (Driver: DLH) (Driver: SU) (Driver: PC) | 13 || 600 || 75 || 1,100 | $40,000 $70,000 $90,000 The overhead cost allocated to product A by using activity-based costing procedures would be: 0 $30,000. 0 $90,500. 0 $109,500. 0 $120,000. 2 points 2 points Save Answer Save