Cost acct test 1 - (1294463724) 7:05:21 PM Cost tracing is:...

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Unformatted text preview: (1294463724) 7:05:21 PM Cost tracing is: a. a function of cost allocation b. the assignment of direct costs to the chosen cost object c. the process of tracking both direct and indirect costs associated with a c ost object d. the process of determining the actual cost of the cost object (67972871) 7:07:45 PM B (1294463724) 7:08:02 PM Cost allocation is: a. the process of tracking both direct and indirect costs associated with a c ost object b. a function of cost tracing c. the assignment of indirect costs to the chosen cost object d. the process of determining the actual cost of the cost object (67972871) 7:08:13 PM C (1294463724) 7:08:37 PM The determination of a cost as either direct or indirect depends upon the: a. allocation system b. cost object chosen c. cost tracing system d. accounting system (67972871) 7:11:29 PM B (1294463724) 7:11:34 PM Which one of the following items is a direct cost? a. Customer-service costs of a multiproduct firm; Product A is the cost obj ect. b. Printing costs incurred for payroll check processing; payroll check proce ssing is the cost object. c. Utility costs of the administrative offices; the accounting department is the cost object. d. The salary of a maintenance supervisor in a multiproduct manufacturi ng plant; Product B is the cost object. (67972871) 7:12:23 PM B (1294463724) 7:12:37 PM a. whether a cost is incurred in a manufacturing, merchandising, or servic e company b. whether a particular expense has been ethically incurred c. classifying costs as either inventoriable or period costs d. how costs react to a change in the level of activity (1294463724) 7:12:57 PM Cost behavior refers to (67972871) 7:14:22 PM D (1294463724) 7:14:29 PM Variable costs: a. include most personnel costs and depreciation on machinery b. can always be traced directly to the cost object c. increase in total when the actual level of activity increases d. are always indirect costs (67972871) 7:15:28 PM C (1294463724) 7:15:30 PM If each furnace requires a hose that costs $20 and 2,000 furnaces are prod uced for the month, the total cost for hoses is: a. considered to be an indirect variable cost b. considered to be an indirect fixed cost c. considered to be a direct fixed cost d. considered to be a direct variable cost (67972871) 7:16:02 PM D (1294463724) 7:16:36 PM A band of normal activity or volume in which specific cost-volume relation ships are maintained is referred to as the: a. average range b. cost driver range c. cost-allocation range d. relevant range (67972871) 7:17:39 PM D (1294463724) 7:17:56 PM Within the relevant range, if there is a change in the level of the cost drive r, then: a. fixed costs per unit will remain the same and variable costs per unit wil l change b. fixed costs per unit will change and variable costs per unit will remain t he same c. fixed and variable costs per unit will change d. fixed and variable costs per unit will remain the same (67972871) 7:19:08 PM (67972871) 7:20:46 PM...
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This note was uploaded on 05/29/2011 for the course BUSA 6230 taught by Professor Howell during the Fall '10 term at Georgia Southwestern.

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Cost acct test 1 - (1294463724) 7:05:21 PM Cost tracing is:...

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