1. Management accounting
A. focuses on estimating future revenues, costs, and other measures to forecast activities and their results.
B. provides information about the company as a whole.
C. reports information that has occurred in the past that is verifiable and reliable.
D. provides information that is generally available only on a quarterly or annual basis.
2. Cost behavior refers to
A. how costs react to a change in the level of activity.
B. whether a cost is incurred in a manufacturing, merchandising, or service company.
C. classifying costs as either inventoriable or period costs.
D. whether a particular expense has been ethically incurred.
3. Which of the following is NOT an assumption of CVP analysis?
A. Costs may be separated into separate fixed and variable components.
B. Total revenues and total costs are linear in relation to output units.
C. Unit selling price, unit variable costs, and unit fixed costs are known and remain constant.
D. Proportion of different products will remain constant when multiple products are sold.
4. Job costing
A. can only be used in manufacturing.
B. records the flow of costs for each customer.
C. allocates an equal amount of cost to each unit made during a time period.
D. is commonly used when each unit of output is identical.
5. The UNIQUE feature of an ABC system is the emphasis on
A. costing individual jobs.
B. department indirect-cost rates.
C. multiple-cost pools.
D. individual activities.
6. An unfavorable variance indicates that
A. actual costs are less than budgeted costs.
B. actual revenues exceed budgeted revenues.
C. the actual amount decreased operating income relative to the budgeted amount.
D. all of the above are true.
7. The flexible budget contains
A. budgeted amounts for actual output.
B. budgeted amounts for planned output.
C. actual costs for actual output.
D. actual costs for planned output
8. Which of the following is an equation of a variable cost function?
A. y = b
B. y = a + bX
C. y = bX
D. y = a
10. For decision making, a listing of the relevant costs:
A. will help the decision maker concentrate on the pertinent data.
B. will only include future costs.
C. will only include costs that differ among alternatives.
D. All of these answers are correct.
This question was answered on: Sep 16, 2020
Need a similar solution fast, written anew from scratch? Place your own custom order
We have top-notch tutors who can help you with your essay at a reasonable cost and then you can simply use that essay as a template to build your own arguments. This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student. New solution orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.