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ACC 5361 ch 4 test 1

ACC 5361 TXst

QuestionAnswer
Normal costing assigns normal costs of direct materials, direct labor, and manufacturing overhead to FALSE
Predetermined overhead rate is calculated by taking total budgeted overhead cost by estimated activity TRUE - Predetermined overhead is calculated by dividing total budgeted overhead cost by estimated
Theoretical activity capacity is the maximum activity output that can be realized assuming everything false
Expected activity capacity avoids assigning unused capacity costs to products and encourages false
Functional-based costing uses batch-level activity drivers as well as facility-level activity drivers. false
A company manufactures two products. It would be appropriate to use a plant-wide rate if the two true
An activity dictionary is the result of interview-derived data. It would include a listing of all the activities in true
Primary activity is an activity consumed by a product or customer. true feedback: Correct. Primary activity is an activity consumed by a product or customer. Secondary activities are
An example of a batch-level activity is assembling the product. false
Facility-level activities are product related false
The total cost to manufacture 500 radios is $1,000. The unit cost of the radios is: Unit cost is $1,000/500 = $2
What are some of the symptoms of an outdated functional costing system? Profit margins are difficult to explain
The activity attribute(s) included in the activity dictionary would be: Activity attributes included in the activity dictionary would be activity driver, activity name, and types
If the cost object is credit cards, an example of a secondary activity is supervising employees.
The first stage of activity-based costing is to assign costs to activities. The next step would be to: assign the cost of secondary activities to those activities that consume their output
Which of the following activity levels should not be allocated to products for decision-making purposes? Facility-level activities benefit the organization as a whole but do not provide benefit for a specific
Which of the following would be classified as a product-level activity? advertising a product
A material amount of overhead variance is closed to A material amount of overhead variance is closed to cost of goods sold, finished goods, and work
Created by: buck56
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