Question

16. Activity-based costing raises numerous specific questions that managers can address to improve which of the...

16. Activity-based costing raises numerous specific questions that managers can address to improve which of the following?

a. Efficiency only.

b. Price and efficiency

c. Productivity and quality.

d. Productivity only.

17. For external reporting purposes, how are fixed manufacturing costs treated?

a. As period costs.

b. Expensed as incurred.

c. Period costs included in the value of inventory.

d. Product costs included in the value of inventory.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

16. Activity-based costing raises numerous specific questions that managers can address to improve which of the following?

b. Price and efficiency

As it more accurately allocates overhead and there by helps in controlling overheads and in more accurate pricing

17. For external reporting purposes, how are fixed manufacturing costs treated?

Answer d. Product costs included in the value of inventory.

AS

Under external reporting full costing (Absorption costing) is used for reporting purpose and full costing assume fixed manufacturing cost as product cost and treat it as such and which is also included in valuation of inventory at the end

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Which of the following is not a method to mitigate the incentive to overproduce in an...
Which of the following is not a method to mitigate the incentive to overproduce in an absorption costing system? A. Charge managers inventory holding costs B. Evaluate managers on residual income C. Require senior management approval for all inventory purchases D. Institute a Just-in-time (JIT) production system Which of the following statements about variable costing systems is true? A. Variable overhead costs are treated as period costs B. Fixed overhead costs are treated as product costs C. Only direct materials...
1. Match with appropriate definition A. Activity- Based Costing B. Cost driver C. Direct Labor D....
1. Match with appropriate definition A. Activity- Based Costing B. Cost driver C. Direct Labor D. Full Cost E. Job Cost Sheet F. Manufacturing Costs G. Over applied Overhead H. Period Costs I. Process costing system J. Selling Costs ____The costs associated with securing and filling customers orders ____Required under GAAP for valuing inventory on the balance sheet. ____Actual overhead costs are less than applied overhead. ____Assigns overhead costs to products using a number of different allocation bases ____A form...
This passge require analysis and breakdown Nawaz (2013) discusses the differences between absorption costing and marginal...
This passge require analysis and breakdown Nawaz (2013) discusses the differences between absorption costing and marginal costing and attempts to assist others in understanding when each method would play a beneficial role in management accounting. A brief history of how marginal costing evolved is given along with showing how keeping secret knowledge slows the process of developing systems, as was the case with marginal costing. Nawaz (2013) then defines key terms used for cost accounting: fixed versus variable costs and...
Which of the following statements is true of the LIFO cost flow assumption a. LIFO yields...
Which of the following statements is true of the LIFO cost flow assumption a. LIFO yields a higher net income than FIFO and averaging in a period of rising prices. b. LIFO provides a better matching of current costs and expenses. c. LIFO yields a higher cost of goods sold than other costing methods, in periods of falling prices. d. LIFO yields a lower ending inventory than other costing methods, in periods of falling prices. e. LIFO puts the earliest...
A) Micro Co., which began business at the start of the current year, had the following...
A) Micro Co., which began business at the start of the current year, had the following data:       Planned and actual production: 40,000 units       Sales: 37,000 units at $15 per unit       Production costs: Variable: $4 per unit, Fixed: $260,000       Selling and administrative costs: Variable: $1 per unit, Fixed: $32,000 Contribution margin that Micro would disclose on an absorption-costing income statement is: a. $147,000 b. $78,000 c. $166,500 d. $0 e. 370,000 B) The variable costing to the...
Read the 2015 annual report of Air France – KLM and answer the 20 questions asked...
Read the 2015 annual report of Air France – KLM and answer the 20 questions asked regarding the accounting issues. Link is provided below: http://www.airfranceklm.com/sites/default/files/publications/afkl_registration_doc_2015.pdf 1. Air France-KLM reports ‘Consolidated statement of recognized income and expenses’ for the year ended December 31, 2015. If this statement was a U.S. GAAP statement, what would be the title of this statement? a. Consolidated statement of total net income b. Consolidated statement of other comprehensive income c. Consolidated statement of comprehensive income d....
Read the 2015 annual report of Air France – KLM and answer the 20 questions asked...
Read the 2015 annual report of Air France – KLM and answer the 20 questions asked regarding the accounting issues. Link is provided below: http://www.airfranceklm.com/sites/default/files/publications/afkl_registration_doc_2015.pdf 1. Air France-KLM reports ‘Consolidated statement of recognized income and expenses’ for the year ended December 31, 2015. If this statement was a U.S. GAAP statement, what would be the title of this statement? a. Consolidated statement of total net income b. Consolidated statement of other comprehensive income c. Consolidated statement of comprehensive income d....
1) Which of the following is NOT a value-creating activity associated with the differentiation strategy? a....
1) Which of the following is NOT a value-creating activity associated with the differentiation strategy? a. intensive training programs to improve employee efficiency b. strong capability in new product development. c. rapid and timely deliveries to customers. d. procurement systems focused on finding the highest quality raw materials. 2) A certain marble quarry provides a unique type of marble that is richly colored and strikingly veined. It has been used for churches and public buildings throughout the world. The architect...
1. Management accounting is said to meet. Select one: A. The internal accounting needs of the...
1. Management accounting is said to meet. Select one: A. The internal accounting needs of the organisation B. The external accounting needs of the organization C. The regulatory requirements of the organisation D. The needs of laws that govern company financial reporting 2. Which of the following defines total product cost? Select one: A. Direct costs plus indirect costs of production, selling and administration B. A prime cost plus production overhead C. Indirect cost plus production overhead D. Prime cost...
UTS: Accounting for Business Decisions A 20 MC questions: The primary purpose of the closing entries...
UTS: Accounting for Business Decisions A 20 MC questions: The primary purpose of the closing entries is to: assure that adjusting entries balance b. calculate the net balance of non-current assets ensure that all assets and liabilities are recognised in the appropriate period to measure revenue, expense, and dividend accounts in the next period prove the equality of the debit and credit entries in the general journal If a company uses the direct write off method of accounting for bad...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT