Quiz 4key - 1. Product costing information is used by...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1. Product costing information is used by managers: a. to make decisions and strategy b. for planning and control c. for cost management *d. All of these answers are correct. 2. __________ is the process of distributing indirect costs to products. *a. Cost allocation b. Job order costing c. Cost pooling d. Cost tracing 3. A __________ links an indirect cost to a cost object. *a. cost-allocation base or cost driver b. cost pool c. cost assignment d. cost tracing 4. A job that shows low profitability may be the result of: a. wasting direct materials b. inefficient labor c. underpricing the job *d. All of these answers are correct. 5. If pre-determined overhead rates were calculated monthly rather than annually, then for the month of February with only 28 days: a. pre-determined overhead rates would be lower *b. pre-determined overhead rates would be higher c. there would be no effect on pre-determined overhead rates d. monthly output would be higher 6. In a job-costing system, a manufacturing firm typically uses a pre-determined overhead rate to estimate the __________ allocated to a job. a. direct materials b. direct labor *c. manufacturing overhead costs d. total costs 7. A job-cost sheet details the: a. direct materials purchased and paid for
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
*b. direct labor costs incurred c. indirect labor costs incurred d. actual overhead costs incurred 8.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/05/2010 for the course BUSINESS 11 taught by Professor 11 during the Spring '10 term at University of Hawaii, Manoa.

Page1 / 5

Quiz 4key - 1. Product costing information is used by...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online