Which of the following statement is CORRECT regarding job order cost accounting system? O Under the proration approach, it manufacturing overhead had been overallocated, the Work-in-Process Control, Finished Goods Control, and Cost of Goods Sold accounts would be increased O Under the procation approach, if manufacturing overhead had been overallocated, the Work in Process Control, Finished Goods Control, and Cost of Goods Sold accounts would be docent O Under the adjusted allocation rate approach, the total under- or overallocated manufacturing overhead is included in the year's Cost of Goods Sold O Under the dead wiff whod, total under or overallocated manufacturing overhead is always added to the Cost of Goods Sold Which of the following characteristics would be an indicator that a company would benefit from switching to activity based costing? O Only one homogenous product is produced on a continuous basis- O The existing cost system is reliable and predictable O Overhead costs are high and increasing with no apparent reason O The costs of implementing ABC outweigh the benefits Which of the following statement is CORRECT about the foundational assumption used in CVP analysis. O Behavior of revenue and costs can be graphed as a straight line. Selling price, variable cost per unit and total fixed costs are known and fluctuates. The time value of money is considered. Relative sales proportions of multiple products are known and fluctuates. Which of the following characteristics would be an indicator that a company would benefit from switching to activity based costing? O Only one homogenous product is produced on a continuous basis- O The existing cost system is reliable and predictable O Overhead costs are high and increasing with no apparent reason O The costs of implementing ABC outweigh the benefits Which of the following statement is CORRECT about the foundational assumption used in CVP analysis. O Behavior of revenue and costs can be graphed as a straight line. O Selling price, variable cost per unit and total fixed costs are known and fluctuates.. The time value of money is considered. Relative sales proportions of multiple products are known and fluctuates. A Click Submit to complete this assessment. Question 13 Which of the following statement is CORRECT? O Total Fixed costs change inversely with the level of production. O Costs are fixed or variable for a specific activity and/or for an indefinite time period. O Variable costs change, in per unit, in proportion to changes in the related level of activity or volume of output produced O Product costs are treated as expenses of the accounting period in which the product is sold. A Click Submit to complete this assessment