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Accounting Expert Answers & Study Resources : Page 216

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Learning Objective 6-2 1) The costing system that reduces the use of broad averages for assigning the cost of resources to cost objects is the ________. A) job-costing system B) process-costing system C) product-costing system D) market-costing system E) refined-costing system 2) The growing demand for customized products, which has led managers to ________ the variety of.

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12) What are the first three categories of the customer-cost hierarchy? Why do managers want to analyze customer-level indirect costs? 13) Customer-Profitability Analysis for Consumer Banking Clients Retail Customer Code Customer-Level Operating Income Customer Revenue Customer- Level Operating Income Divided by Revenue Cumulative Customer-Level Operating Income   (1) (2) (3) (4) A $5,000,000 $25,000,000 ? $5,000,000 D 3,795,000 28,000,000 ? 7,500,000 C 2,250,000 15,000,000 ? 8,250,000 B 2,650,000 7,200,000 ? 9,100,000   13,695,000 75,200,000 ? 29,850,000 Required: Compute the Customer-Level Operating Income. .

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  • 12) What the first three categories of the customer-cost hierarchy?
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Learning Objective 6-7 1) The method of management decision making that uses activity-based costing information to improve customer satisfaction and profitability is ________. A) job-cost management B) action-cost management C) project-cost management D) product-cost management E) activity-based management 2) Which of the following is not a decision that managerial accountants seek when they use activity-based management? A) Decisions.

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  • Learning Objective 6-7 1) The method of management decision making that
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Learning Objective 7-6 1) The reporting and assessment of revenues earned from customers and the costs incurred to earn those revenues is: A) price discount. B) whale curve. C) price markups. D) customer-cost hierarchy. E) customer-profitability analysis. 2) The reduction in selling price below list selling price to encourage customers to purchase more quantities is: A) price discount. B).

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  • Learning Objective 7-6 1) The reporting and assessment of revenues earned
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Learning Objective 6-4 1) Which of the following is not a level in the cost hierarchy? A) Batch-level costs. B) Input-level unit costs. C) Output-unit level costs. D) Product-sustaining costs. E) Facility-sustaining costs. 2) Which of the following are costs of activities performed on each individual unit of a product or service? A) Batch-level costs. B) Input unit-level costs. C).

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  • Learning Objective 6-4 1) Which of the following not a level
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Learning Objective 7-2 1) The strategic decision designed to build long-run relationships with customers based on stable and predictable prices is ________. A) mid-run pricing B) cost-run pricing C) some-run pricing D) short-run pricing E) long-run pricing 2) To set long-run prices, managers calculate the ________ -cost of producing and selling a product. A) full B) small C) partial D) initial E).

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  • Learning Objective 7-2 1) The strategic decision designed to build long-run
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20) Rachel and Joey went to dinner and incurred the following costs: Joey's total dinner cost:$30.00 Rachel's total dinner cost:$21.00 Required: Compute the average cost of dinner. If they each pay the average cost of dinner, calculate the amount of Rachel's cross-subsidization to Joey. 21) What should managerial accountants understand when prices of their products.

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  • 20) Rachel and Joey went to dinner and incurred the
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7) The costs that influence prices a company can charge for its products is: A) product life-cycle costing. B) life-cycle budgeting. C) customer life-cycle costs. D) life-cycle costing. E) price discrimination. 8) In life-cycle budgeting, managers estimate the revenues and business function costs across the entire value chain from a product's initial R&D to its final.

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  • 7) The costs that influence prices a company can charge
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Learning Objective 4-8 1) Managers try to use a variation of ________ costs; and, they use budgeted rates to assign ________ costs. A) normal; direct B) abnormal; indirect C) periodic; indirect D) frequent; variable E) normal; indirect 2) Managers compute the budgeted indirect cost rate as: A) budgeted variable labor hours / budgeted direct-labor. B) budgeted variable-labor costs /.

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  • Learning Objective 4-8 1) Managers try to use a variation of
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Learning Objective 7-8 1) The practice of charging different customers different prices for the same product or service is: A) job costing. B) product costing. C) price discrimination. D) product life-cycle. E) customer life-cycle. 2) Insensitivity of demand to price changes is called: A) price discrimination. B) demand inelasticity. C) predatory pricing. D) peak-load pricing. E) collusive pricing. 3) The practice of charging.

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  • Learning Objective 7-8 1) The practice of charging different customers different
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Learning Objective 6-1 1) The costing system that broadly averages or spreads the cost of resources uniformly to cost objects when individual products or services use those resources in nonuniform ways is ________. A) direct costing B) service costing C) indirect costing D) variable-rate costing E) peanut-butter costing 2) Peanut-butter costing ________. A) is not used to spread.

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  • Learning Objective 6-1 1) The costing system that broadly averages or
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Learning Objective 6-3 1) The costing system that refines a costing system by identifying individual activities as the fundamental cost object is ________. A) cost hierarchy B) cost-allocation base C) refined-costing system D) activity-based costing system E) manager-based costing system 2) Determining costs of activity pools requires assigning costs accumulated in various account classifications to each of.

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  • Learning Objective 6-3 1) The costing system that refines a costing
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Learning Objective 5-4 1) The process-costing method that assumes the earliest equivalent units in work in process are completed first is: A) unit of output method. B) physical unit method. C) work in process method. D) last in, first out (LIFO). E) first in, first out (FIFO). 2) Equivalent-unit and cost-per-equivalent-unit calculations under the weighted-average process-costing method.

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  • Learning Objective 5-4 1) The process-costing method that assumes the earliest
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Learning Objective 5-5 1) The system that blends characteristics from both job-costing and process-costing systems is a: A) job-costing system. B) hybrid-costing system. C) process-costing system. D) operation-costing system. E) manufactured-costing system. 2) Which of the following is not true about operation-costing systems? A) Uses work orders that specify the needed direct materials. B) Product costs are compiled for.

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  • Learning Objective 5-5 1) The system that blends characteristics from both
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Learning Objective 6-5 1) In indirect cost pools, administrative costs are ________. A) direct costs B) batch-level costs C) output unit-level costs D) product-sustaining costs E) facility-sustaining costs 2) In indirect cost pools, design costs are ________. A) batch-level costs B) output unit-level costs C) product-sustaining costs D) direct costs E) facility-sustaining costs 3) In indirect cost pools, shipment setup costs are ________. A).

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  • Learning Objective 6-5 1) In indirect cost pools, administrative costs ________. A)
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Learning Objective 5-1 1) There are distinct, identifiable units of a product or service in the: A) job-costing system. B) product-costing system. C) process-costing system. D) inventory-costing system. E) weighted-average costing system. 2) Masses of identical or similar units of a product or service are in: A) job-costing systems. B) product-costing systems. C) process-costing systems. D) inventory-costing systems. E) weighted-average costing systems. 3).

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  • Learning Objective 5-1 1) There distinct, identifiable units of a product
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Learning Objective 8-4 1) Which of the following estimation methods estimates cost functions by analyzing the relationship between inputs and outputs in physical terms? A) Industrial Engineering Method. B) Conference Method. C) Account Analysis Method. D) Quantitative Analysis Method. E) Mixed Approach Method. 2) Which of the following estimation methods is used by managers to estimate cost.

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  • Learning Objective 8-4 1) Which of the following estimation methods estimates
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Appendix Chapter 4 1) The step-down method is also the: A) reciprocal method. B) indirect method. C) engineering method. D) budgeted overhead method. E) sequential allocation method. 2) The service department is also professionally known as the: A) support department. B) internal department. C) operating department. D) international department. E) manufacturing department. 3) Material-handling labor costs are included as part of the ________.

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  • Appendix Chapter 4 1) The step-down method also the: A) reciprocal method. B)
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Learning Objective 7-3 1) The estimated price for a product or service that customers are willing to pay is: A) target price. B) listing price. C) selling price. D) strategic price. E) consumer price. 2) Market-based pricing starts with: A) target price. B) listing price. C) selling price. D) strategic price. E) consumer price. 3) To earn the target return on capital, the.

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  • Learning Objective 7-3 1) The estimated price for a product or
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Learning Objective 4-7 1) Which approach is known for spreading the underallocated overhead or overallocated overhead among ending work-in-process inventory, finished goods inventory, and cost of goods sold? A) Proration. B) Adjusted allocation-rate. C) Numerator reason. D) Denominator reason. E) Write-off to cost of goods sold. 2) The approach that restates all overhead entries in the general.

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  • Learning Objective 4-7 1) Which approach known for spreading the underallocated
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Learning Objective 7-7 1) ________ spans the time from initial R&D on a product to when customer service and support is no longer offered for that product. A) Product life cycle B) Life-cycle budgeting C) Life-cycle costing D) Customer life-cycle costs E) Price discrimination 2) ________ tracks and accumulates business function costs across the entire value chain.

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  • Learning Objective 7-7 1) ________ spans the time from initial R&D
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Learning Objective 5-6 1) The juncture in a joint-production process when two or more products become separately identifiable is known as: A) the common point. B) the spinoff point. C) the splitoff point. D) the production point. E) the manufacturing point. 2) The costs of a production process that yields multiple products simultaneously are: A) zero costs. B) joint.

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  • Learning Objective 5-6 1) The juncture in a joint-production process when
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