Man10e_SecTest_05

Man10e_SecTest_05 - 10th Edition MANAGERIAL ACCOUNTING...

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10th Edition MANAGERIAL ACCOUNTING Warren/Reeve/Duchac Chapters 11–12 Score % Name Course Section NOTE: Each of the 40 correct answers is assigned a weight of 2 1/2%. FILL-IN-THE-BLANK—PRINCIPLES AND TERMINOLOGY—62 1/2% INSTRUCTIONS: Complete each of the following statements by writing the appropriate words or Section Test 5
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TEST 11 (Continued) amount in the Answers column. For Answers Scoring 0. An accounting framework based on relating the cost of activities to final cost objects is called . .................................................................................. activity-based costing (ABC) 0. ____ 1. When a single plantwide factory overhead rate is used, the total factory overhead is allocated to all products by using a . ........................................ 1. ____ 2. The greatest advantage of using a single plantwide overhead rate is that it is 2. ____ 3. When a single plantwide factory overhead rate is used, factory overhead costs are assumed to be consumed in (the same way, different ways) by all
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TEST 5 (Concluded) products . ...................................................................................................... 3. ____ 4. When the multiple production department factory overhead rate method is used to allocate factory overhead to products, each department uses (the same, a different) overhead rate . ................................................................ 4. ____ 5–8. In each of the following cases in a multiple-department factory, answer “yes” if using a single plantwide factory overhead rate would likely distort product costs and “no” if it would not. 5. The factory overhead rates in Departments X and Y are $32 and $12 per direct labor hour, respectively. . ................................................................... 5. ____ 6. One product consumes 20 direct labor hours at $32 per hour in Department X and 8 direct labor hours at $6 per hour in Department Y. Another product consumes 4 direct labor hours at $32 per hour in Department X and 10
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TEST 11 (Continued) direct labor hours at $6 per hour in Department Y. . .................................... 6. ____ 7. The factory overhead rates in Departments X and Y are both $25 per direct labor hour. . ................................................................................................... 7. ____ 8. One product consumes 10 direct labor hours at $25 per hour in Department X and 4 direct labor hours at $25 per hour in Department Y. Another product consumes 20 direct labor hours at $25 per hour in Department X and 8 direct labor hours at $25 per hour in Department Y. . ....................... 8. ____
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Man10e_SecTest_05 - 10th Edition MANAGERIAL ACCOUNTING...

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