Week 1 Quiz Managerial Cost Accounting

Topics: Cost, Costs, Cost accounting Pages: 6 (786 words) Published: April 18, 2015
1.
award:
7 out of
7.00 points
 
 
TF Qu. 1 Activity-based costing involves a two-stage ...
 
Activity-based costing involves a two-stage allocation process in which overhead costs are first assigned to departments and then to jobs on the basis of direct labor-hours.  

True

False

True / False
Difficulty: Medium
 
TF Qu. 1 Activity-based costing involves a two-stage ...
Learning Objective: 03-01 Understand the basic approach in activity-based costing and how it differs from conventional costing.  
2.
award:
7 out of
7.00 points
 
 
TF Qu. 2 Batch-level activities are performed each ti...
 
Batch-level activities are performed each time a batch of goods is handled or processed, regardless of the number of units in the batch.  

True

False

True / False
Difficulty: Easy
 
TF Qu. 2 Batch-level activities are performed each ti...
Learning Objective: 03-01 Understand the basic approach in activity-based costing and how it differs from conventional costing.  
award:
7 out of
7.00 points
 
 
TF Qu. 3 Even departmental overhead rates will not co...
Even departmental overhead rates will not correctly assign overhead costs in situations where a company has a range of products that differ in volume, lot size, or complexity of production.  

True

False

True / False
Difficulty: Easy
 
TF Qu. 3 Even departmental overhead rates will not co...
Learning Objective: 03-01 Understand the basic approach in activity-based costing and how it differs from conventional costing.  

4.
award:
7 out of
7.00 points
 
 
TF Qu. 5 Managing and sustaining product diversity re...
Managing and sustaining product diversity requires many more overhead resources such as production schedulers and product design engineers. The costs of these resources can be accurately allocated to products on the basis of direct labor-hours.  

True

False

True / False
Difficulty: Medium
 
TF Qu. 5 Managing and sustaining product diversity re...
Learning Objective: 03-01 Understand the basic approach in activity-based costing and how it differs from conventional costing.  

5.
award:
7 out of
7.00 points
 
 
TF Qu. 7 In activity-based costing, a separate activi...
 
In activity-based costing, a separate activity rate (i.e., predetermined overhead rate) is computed for each activity cost pool by dividing the estimated overhead cost in the activity cost pool by the total expected activity for the activity cost pool.  

True

False

True / False
Difficulty: Easy
 
TF Qu. 7 In activity-based costing, a separate activi...
Learning Objective: 03-02 Compute activity rates for an activity-based costing system.  

6.
award:
0 out of
7.00 points
 
 
TF Qu. 8 The activity rates in activity-based costing...
The activity rates in activity-based costing are computed by dividing the direct labor-hours for an activity cost pool by the measure of activity for the activity cost pool.  

True

False

True / False
Difficulty: Easy
 
TF Qu. 8 The activity rates in activity-based costing...
Learning Objective: 03-02 Compute activity rates for an activity-based costing system.  

7.
award:
0 out of
7.00 points
 
 
TF Qu. 9 In activity-based costing, unit product cost...
In activity-based costing, unit product costs computed for external financial reports exclude direct labor costs.  

True

False

True / False
Difficulty: Medium
 
TF Qu. 9 In activity-based costing, unit product cost...
Learning Objective: 03-03 Compute product costs using activity-based costing.  

8.
award:
7 out of
7.00 points
 
 
TF Qu. 11 When a company implements activity-based cos...
When a company implements activity-based costing, manufacturing overhead cost is often shifted from low volume products to high volume products, with a higher unit cost resulting for the high volume products.  

True

False

True / False
Difficulty: Medium
 
TF Qu. 11 When a company...
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