Sample+old+quiz+1+questions - A202 Sample old quiz 1...

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A202 Sample old quiz 1 questions. Use cautiously; current quiz may be different! Key at end. True-false questions: Please circle your answer. T F 1. In the four-step framework for decision making that you’ve learned about in class, the first step is to measure the costs and benefits of each decision option. T F 2. The position of controller manages day-to-day accounting for the firm and oversees corporate accounting policies. T F 3. Some costs that are not controllable in the short term become controllable in the long term. T F 4. A cost that is relevant for a decision will be the same across all of the decision options. T F 5. The cost hierarchy helps to refine the concept of variability of costs. T F 6. For a particular inventory account, the beginning balance must always be equal to the ending balance. 7. Short answer question: Please keep your answer to one or two sentences. Explain when and why Tropicana, which produces many kinds of fruit juice, would use a cost allocation when determining the cost of its different products. (See the quiz topics for short-answer question that will be on Spring 2010 quiz.) ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ 8. The Sunshine Bakery produces a variety of baked goods. Assume that the cost object is one of the company’s products, whole wheat bread, and the decision is whether to increase production volume. For each of the costs listed below, check all boxes that describe that cost . Fixed? Direct? Controllable? Bakery workers who make the bread dough Plastic bags (packaging for bread) Heating and cooling for bakery 9. The Flint Company recorded the following costs and other activity for 2009: Direct labor $100,000
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Sample+old+quiz+1+questions - A202 Sample old quiz 1...

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