Direct labor budget - Study guides, Class notes & Summaries

Activity-Based costing (ABC) Ans: A method of cost accounting designed to identify streams of activity and then to allocate costs across particular business processes according to the mount of time employees devote to particular activities Adapters Ans: Companies that take the current industry structure and its evolution as givens, and choose where to compete. Adverse impact Ans: When a seemingly neutral employment practice has a disproportionately negative effect on a protected group. Ad...

1. Which budget should include all production costs other than those for direct materials and direct labor? A.Sales budget B.Direct materials budget C.Manufacturing overhead budget D. Production budget - c 2. Which account is a common asset account? A.Accounts payables B.Equity C.Accounts receivable D. Utilities Expense - c

ACC 241 Exam Questions With 100% Correct Answers (Verified And Updated) A favorable direct labor efficiency variance and an unfavorable direct labor rate variance might indicate which of the following? A) Unskilled workers using more actual hours than standard, paid at a higher rate per hour than the standard rate B) Unskilled workers using less actual hours than standard, paid a lesser rate per hour than the standard rate C) Skilled workers using less actual hours than standard, paid at...

ACCT Exam 3 LSU | Questions and Answers (Complete Solutions) All of the following are distinguishing features of managerial accounting except a- to provide special-purpose information. b- internal users. c- independent audits. d- reports pertaining to subunits of the entity. The process of keeping the company's activities on track is a- controlling. b- planning. c- directing. d- evaluating. Which of the following statements is true about managerial accounting? a- It is primarily for internal ...

ETS Major Field Test (Practice Test): Bachelor's Degree in Business. The common characteristic possessed by all assets is a) Long life b) Great monetary value c) Tangible nature d) Future economic benefit Which Foreign Direct Investment (FDI) attempts to acquire particular resources at a lower real cost than could be obtained in the home country? a) Market-seeking FDI b) Efficiency-seeking FDI c) Resource-seeking FDI d) Strategic asset-seeking FDI Under the Uniform Comm...

ARE 5.0 CONSTRUCTION & EVALUATION EXAM 2024 (3) ways cost estimates can be performed during Programming - correct answer 1. Unit cost system. 2. Historical data on similar types of projects. 3. Cost per square foot. Cost estimating method used during the Schematic Design - correct answer Preliminary (rough) estimates are based on pricing major elements, such as structural system selected and the MEP systems used. Cost estimating method used during the Design Development - correct ...

What are the 5 main functions of management? - Plan, organize, staff, direct, control/evaluate Which one is NOT one of the 5 main functions of management? A) Plan B) Direct C) Budget D) Staff - Budget Basic function of management where objectives are predetermined, involves policies and procedures, and always has a time span - Planning General decision making guides, boundaries within you must operate. (i.e. all customer complaints will be addressed within 1 day) - Policies Chr...

Which of the following best describes the variable manufacturing overhead spending variance? - A measure of how actual total spending on variable manufacturing overhead compared to the total amount that "should" have been spent based on the actual amount of the allocation base used. Highlight Inc. uses a standard cost system and applies factory overhead to products on the basis of direct labor hours. If the firm recently reported a favorable direct labor efficiency variance, then the: - var...

Medicare - ️️Federal program that helps those over 65, those on dialysis/ESRD, and combines with state run Medicaid, younger people who are permanently disabled, and physician residency training Breakeven - ️️Needed in order not to lose money; minimum patients needed to meet budget using minimum staffing; can't control admissions but some would work with staffing office to ensure minimum occupancy occurred Zero-Based Budget - ️️With each new budget (i.e. fiscal year), it is ...

Absorption costing - Answer A costing method that includes all manufacturing costs—direct materials, direct labor, and both variable and fixed manufacturing overhead—in unit product costs. Activity - Answer An event that causes the consumption of overhead resources in an organization. Activity base - Answer A measure of whatever causes the incurrence of a variable cost. For example, the total cost of surgical gloves in a hospital will increase as the number of surgeries increa...