Plantwide - Study guides, Class notes & Summaries

ACCT 211 Exam 2 USD Liberty university Question and answers rated A+ ACCT 211 Exam 2 USD product testing cost - correct answer which of the following is an example of appraisal costs for quality management? false - correct answer businesses should invest up front in internal and external failure costs to reduce prevention and appraisal costs (T/F) it triggers production after the costumer places an order - correct answer which of the following statements is true of just-in-time manage...

ACCT 101B EXAM II REVIEW (WARREN 14TH)Indicate the answer choice that best completes the statement or answers the question. 1. Pinacle Corp. budgeted $700,000 of overhead cost for the current year. Actual overhead costs for the year were $650,000. Pinacle's plantwide allocation base, machine hours, was budgeted at 100,000 hours. Actual machine hours were 80,000. A total of 100,000 units was budgeted to be produced and 98,000 units were actually produced. Pinacle's plantwide factory overhea...

ACCT 211 Exam 2 USD Liberty university Question and answers rated A+ ACCT 211 Exam 2 USD product testing cost - correct answer which of the following is an example of appraisal costs for quality management? false - correct answer businesses should invest up front in internal and external failure costs to reduce prevention and appraisal costs (T/F) it triggers production after the costumer places an order - correct answer which of the following statements is true of just-in-time manage...

Cost Accounting Exam Questions With Correct Answers For job costing in service industries, overhead costs are usually applied to jobs based on: - answerdirect labor-hours or dollars a time ticket - answershows the time an employee worked on each job, the pay rate, and the total cost chargeable to each job what is the amount that actual factory overhead exceeds the factory overhead applied? - answerunderapplied overhead what industry is often suitable for applying operation costing - answ...

Title of Course- Introduction to Managerial Accounting Exam – BUSI2083 VERSSION B Student’s Name: Student’s ID: Date: Time: Section: Instructor: General Instructions •You have 2h to complete the exam. •This Final Exam is worth 25 % of your final grades. •Do not open this exam paper until told to do so. •No papers, cellphones, briefcases, or any other cases are allowed at student desks while the examination is in progress. No books, notes, formula sheets, electronic ...

ACC 241 Exam 1 Practice Questions Chapters 1,2,3,4,6 with Complete Solutions | Verified and Updated Planning, directing, and controlling are a manager's three primary responsibilities - ️️ Correct-True In a manufacturing firm, manufacturing costs and product costs are the same - ️️ Correct-True If the finished goods inventory decreases between the beginning and the end of a period, then the cost of goods manufactured for the period is larger than the cost of goods sold - ️️...

Job one distinct unit or set of units. Job-order costing system a costing system in which costs are accumulated by job. Process-costing system a costing system that accumulates production costs by process or by department for a given period of time. Unit costs are computed by dividing the process costs for the given period by the output of the period. Actual cost system only the actual costs of direct materials, direct labor, and overhead are used to determine unit cost. Normal cost system d...

Super ACC T2 Exam Questions with All Correct Which of the following statements is true regarding applied overhead? a. It is equal to the product of the overhead rate and budgeted annual usage of the unit-level drivers. b. It is disposed of by assigning it to cost of goods sold, if it is equal to actual overhead. c. It is the total overhead assigned to actual production at any point in time. d. It is calculated to determine whether the actual overhead is material or not. - ANSWER ...

Chapter 4: Activity-Based Costing Exam Questions with Complete Solutions Latest objective of ABC of service - Answer-identify the key activities that generate costs & to keep track of how mnay of those activities are completed for each service performed (same as a manufacture objective) - general approach to identify activities, cost pools, & cost derived are the same - value-added & non-value-added activies are the same Allocates overhead using a predetermined rate - Answer-How do tradi...

Bill of materials - ANS A document that shows the quantity of each type of direct material required to make a product Cost driver - ANS A factor, such as machine- hours, beds occupied, computer time, or flight- hours, that causes overhead costs Cost of goods manufactured - ANS The manufacturing costs associated with the goods that were finished during the period Finished goods - ANS Units of product that have been completed but not yet sold to customers ...