20 Interactive Quiz A

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Interactive Quiz A http://highered.mcgraw-hill.com/sites/0072996536/student_view0/chapter20/interactive_quiz_a.html[6/22/2010 7:05:59 PM] Interactive Quiz A (See related pages) Results Reporter Out of 21 questions, you answered 4 correctly with a final grade of 19% 4 correct (19%) 17 incorrect (81%) 0 unanswered (0%) Your Results: The correct answer for each question is indicated by a . 1 INCORRECT Which of the following is a feature of a process production system? A) Homogeneous products B) Low production volume C) High product flexibility D) Customized production E) Low standardization Feedback: Homogenous products, such as computers, automobiles, shoes, paint, candy, canned foods, and television sets, are manufactured in a process production system. C1 2 CORRECT Which of the following is least likely to use a process cost accounting system? A) A flour mill B) A brewery C) Crayon manufacturer D) Sugar refiner E) Print shop Feedback: Process cost accounting is used primarily with the production of a single product or line of products made in a continuous, repetitive process. Because each order for a print shop will be different, it is least likely to use a process cost accounting system. A1 3 INCORRECT In comparing a job order cost accounting system and a process cost accounting system, which of the following is true? A) Only a job order cost system uses the concepts of direct and indirect costs B) Direct materials under one system might be indirect in the other C) Only a process cost system classifies labor as direct and/or indirect D) Neither system classifies materials as direct and/or indirect E) Both use job cost sheets Feedback: Raw material that is classified as direct material under one cost accounting system could be classified as an indirect cost under the other system. A1 4 INCORRECT Which of the following is characteristic of a process costing system? A) Custom Orders B) Heterogeneous products and services C) Low production volume D) High standardization E) None of the above Feedback: Characteristics of a process costing system include repetitive operations, homogenous products and services, high production volume, low product flexibility and high standardization. A1 5 CORRECT What is the name of the report that serves the same function in a process cost accounting system as a materials requisition in a job order cost accounting system? A) Materials consumption report B) Cost of production report C) Process cost summary Course-wide Content MH Enhanced Cartridge Sample Study Guide Working Paper Sample Generic Working Papers Student ALEKS Video Library Cogg Hill Practice Set Student Learning Tools NetTutor Appendices Text Updates Tech Support Chapter 20 Quizzes Interactive Quiz A Interactive Quiz B More Resources Glossary Flashcards PowerPoint Presentations Narrated Slides Excel Templates BusinessWeek Articles More Taking it to the . .. Problem Set C
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20 Interactive Quiz A - Interactive Quiz A Home >...

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