FinMan10e_ATest_ch22

FinMan10e_ATest_ch22 - 10th Edition FINANCIAL &...

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10th Edition Warren/Reeve/Duchac Chapter Test 22A Score % Name Course Section NOTE: Each of the 25 correct answers is assigned a weight of 4%. FILL-IN-THE-BLANK—PRINCIPLES AND TERMINOLOGY—52% A
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TEST 17A (Concluded) INSTRUCTIONS: Complete each of the following statements by writing the appropriate words in the Answers column. For Scoring STATEMENTS Answers 0. How much a product costs is described as the . .................................... actual cost 0. ____ 1. A management accounting system that enables management to determine the actual product cost, standard product cost, and differences between the two is called a(n) . ........................................... 1. ____ 2. Standards that can only be achieved under perfect operating conditions are called . ............................................................................. 2. ____
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3. Standard setting normally requires the joint effort of accountants, engineers, and . ...................................................................................... 3. ____ 4. Jack Manufacturing Co. assumes reasonable production difficulties in its standard-setting process. These standards are known as .
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FinMan10e_ATest_ch22 - 10th Edition FINANCIAL &...

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