York University (EBOR )

Chapter 3 1. Job-order costing is more likely to be used than process costing in situations where many different products or services are produced each period to customer specifications. Ans: True Difficulty: Easy 2. Job-order costing is used in manufacturing companies and process costing is used in service firms. Ans: False Difficulty: Easy 3. In a job-order costing system, costs are traced to departments and then allocated to units of product using an averaging process. Ans: False Dif...

Chapter 10 1. Standard costs should generally be based on the actual costs of prior periods. Ans: False Difficulty: Easy 2. The standard direct labour rate should NOT include fringe benefits. Ans: False Difficulty: Easy 3. From a standpoint of cost control, the most effective time to recognize material price variances is when the materials are placed into production. Ans: False Difficulty: Medium 4. The material quantity variance is computed based on the quantity of all materials purcha...

Question 1 Sunrise Pools and Spas manufactures fibreglass forms for in-ground pools and swim spas for all-season use. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the data for their swim spa business in years 1, 2, and 3 shown below. The company’s fixed manufacturing overhead per unit was constant at $4,000 for all three years: Year 1 Year 2 Year 3 In...

Chapter 4 Systems Design: Process Costing Garrison, Managerial Accounting, 12th Edition 125 True/False Questions 1. When materials are purchased in a process costing system, a work in process account is debited with the cost of the materials. Answer: False Level: Easy LO: 1 2. Any difference in the equivalent units calculated under the weighted-average and the FIFO methods is due to the units in the ending work in process inventory. Answer: False Level: Easy LO: 2,6 Appendix: 4 3. Th...

Chapter 13 Relevant Costs for Decision Making 652 Garrison, Managerial Accounting, 12th Edition True/False Questions 1. Fixed costs are sunk costs and are therefore irrelevant in decisions. Answer: False Level: Easy LO: 1 2. A complete income statement must be prepared as part of a differential cost analysis. Answer: False Level: Medium LO: 1 3. Future costs that do not differ between the alternatives in a decision are avoidable costs. Answer: False Level: Medium LO: 1 4. The book ...

Question 1 Helix Company produces costumes used in the television and movie industries. Recently the company received an ongoing order for Samurai robes to be worn in an upcoming Japanese historical action series made for television. The company uses a standard costing system to assist in the control of costs. According to the standards set for these robes, the factory has a denominator activity level of 1,160 direct labour-hours each month, which should result in the production of 2,900 ro...

SC/NATS1850: Subjective Experiences and Science (WK 13)

Covers Scientific Realism, Subjective Experience, Bokeh, The Heider-Effect, Mediumship, Hot readings, Cold Reading, Piggybacking, The Forer effect in detail

Lecture notes for chapter 7 of HH-KINE-3620

Lecture notes for Chapter 7 of HH-KINE-3620