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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 4-6 1) Under normal costing, managers compute the amount of manufacturing overhead costs allocated to individual jobs based on the budgeted rate multiplied by the actual quantity used of the allocation base. This is known as: A) account payable control. B) work-in-process control. C) manufacturing overhead allocated. D) budgeted manufacturing overhead rate. E) manufacturing.

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Learning Objective 3-8 1) In the airline industry, an example of output is: A) passenger miles. B) room-nights occupied. C) patient days. D) student credit-hours. E) telephone call center hours. 2) In the hotel/motel industry, an example of a measure of output is: A) passenger miles. B) room-nights occupied. C) patient days. D) student credit-hours. E) telephone call center hours. 3) An example.

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Learning Objective 2-7 1) Which of the following is not a prominent labor component of overhead? A) Direct programming labor that cannot be traced to individual products. B) Indirect labor compensation for office staff. C) Indirect compensation for idle time. D) Indirect labor compensation for rework labor. E) Indirect labor compensation for office security. 2) The wage.

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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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11) A manager at the Film Shoppe at the mall reported that the company had a contribution margin of $3,000 and total variable costs were $25.00. Required: Compute the operating income. A) $.83 B) $120 C) $2,750 D) $2,780 E) $75,000 12) A manager at the Food Pantry reported contribution margin of $3,000 and revenues at the store.

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11) The Tree Shoppe reported the following information: Budgeted revenues$10,000 Breakeven revenues4,000 Budgeted sales (in units)35 Breakeven sales (in units)15 Required: Compute the margin of safety percentage at the Tree Shoppe. A) 20% B) 30% C) 40% D) 50% E) 60% 12) Organizations that have a low margin of safety have an increased risk of loss. 13) A more comprehensive approach to recognizing.

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11) Sara's Accounting Service provides assistance to individuals and groups in the community to help them with their accounting needs. For each item listed below, identify the type category of source documents that her individual clients use to authorize a journal entry in the job-costing system. a.direct materials purchased b.direct materials used c.direct.

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Learning Objective 2-3 1) The costing systems that managers use to identify the cost of each activity such as testing, design, or set-up are called: A) product-based costing systems. B) action-based costing systems. C) managerial-based costing systems. D) activity-based costing systems. E) resource-based costing systems. 2) Financial accountants realize that a mixed cost is: A) a fixed cost. B).

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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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Appendix Chapter 3 1) A ________ ________ describes the likelihood or the probability, that each of the mutually exclusive and collectively exhaustive set of events will occur. A) sales mix B) unit mix C) weighted average D) distributed method E) probability distribution 2) When the outcomes are measured in monetary terms, expected value is often called: A) unknown.

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11) A BMW X6 sports activity coupe is an example of the ________ cost object at BMW. A) product B) service C) project D) customer E) activity 12) Accountants measure the cost of direct materials or advertising at manufacturing plants by using the monetary amount paid to acquire them. 13) Budgeted costs are also known as predicted.

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11) In 2012, Alan's Seafood Supply Manufacturing uses machine-hours as the only overhead cost-allocation base. The accountant reported the following information: EstimatedActual Manufacturing overhead costs$225,000$250,000 Machine-hours50,00055,000 Using job costing, compute the 2012 actual indirect cost rate. A) $3.85 per machine hour B) $3.95 per machine hour C) $4.45 per machine hour D) $4.54 per machine hour E) $4.85 per.

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Learning Objective 3-9 1) Managers compute gross margin as: A) sales revenue less variable costs. B) sales revenue less cost of goods sold. C) contribution margin less fixed costs. D) contribution margin less variable costs. E) contribution margin plus cost of goods sold. 2) Managers confuse gross margin and contribution margin in merchandising companies because: A) cost of.

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Learning Objective 3-5 1) ________ ________ is a "what-if" technique that managers use to examine how an outcome will change if the original predicted data are not achieved or if an underlying assumption changes. A) Electronic Spreadsheet B) Weighted average C) Manufacturing option D) Electronic analysis E) Sensitivity analysis 2) Managers understand that the margin of safety.

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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 4-5 1) When do managers compute the budgeted indirect-cost rate? A) Daily. B) Monthly. C) Annually. D) Quarterly. E) Semi-annually. 2) A difference between costing a job with normal costing and actual costing is that normal costing uses which of the following cost rates? A) Budgeted real-cost rates. B) Budgeted direct-cost rates. C) Budgeted actual-cost rates. D) Budgeted indirect-cost.

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