Traditional Cost systems usually rely on volume measures to allocate all overhead costs. These volume measures are a) Direct Labour Hours and/or Machine Hours b) Direct Machine Hours c) Direct Labour Hours d) Cannot say Select one: O a Direct Machine Hours b. Direct Labour Hours and/or Machine Hours c. Cannot Say O d. Direct Labour Hours Roberto services (Oil Change) vehicles in his garage. His lubricants cost him $40 per vehicle. His wages are $120 per hour. He spends 20 minutes per vehicle. His garage rent is $600 per month. He charges $140 to service each vehicle. His Total Fixed cost is $400 $600 $720 a. b. c. d. $680 Select one: O a $720 O b. $680 c. $600 O d. $400 a. Dilbar services (Oil Change) vehicles in his garage. His lubricants cost him $40 per vehicle. His wages are $120 per hour. He spends 20 minutes per vehicle. His garage rent is $600 per month. He charges $140 to service each vehicle. His Contribution Margin in servicing each vehicle is $60 b. $100 d. $180 $80 c. Select one: a. $60 O b. $80 O c. $100 O d. $180 Another name for JIT production is a. Risk management b. Lean Production c. Enterprise system d. Cannot say Select one: a. Risk management b. Cannot say c. Enterprise system d. Lean Production Which of the following are features of B.E.P? a) There is no loss and no profit to the firm. b) Total revenue is equal to total cost. c) Contribution is equal to fixed cost. d) All of the features apply to B.E.P. Select one: a. Contribution is equal to fixed cost b. All of the features apply to B.E.P. c. There is no loss and no profit to the firm O d. Total revenue is equal to total cost a. Business function value chain consists of Product Design, manufacturing, distribution, marketing b. Product Design, manufacturing, marketing, distribution manufacturing, marketing, distribution, Product Design d. Cannot say c. Select one: a. Manufacturing, marketing, distribution, Product Design b. Product Design, manufacturing, marketing, distribution c. Cannot say d. Product Design, manufacturing, distribution, marketing What is the method used to compare activity cost information with world-class standards of performance achieved by other organizations? a) Z-Test b) Chi Squared Test c) Bench marking d) Regression Analysis Select one: a. Z-Test b. Chi Squared Test c. Bench marking d. Regression Analysis Which one is not a limitation of Activity Based Costing? a) Resistance to unfamiliar numbers and reports b) It always conforms to IFRS c) Desire to fully allocate all costs to products d) Cannot say Select one: a. Resistance to unfamiliar numbers and reports b. It always conforms to IFRS c. Cannot say d. Desire to fully allocate all costs to products