{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Ac 202 Study guide Ch 17, 18, 19 & 8

Ac 202 Study guide Ch 17, 18, 19 & 8 - MONTGOMERY...

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

View Full Document Right Arrow Icon
MONTGOMERY COLLEGE Business, Science, Mathematics and Technology Division Germantown Campus STUDY GUIDE AC 202 Principles of Accounting II 17, 18, 19 & 8 1. Which of the following is not an important element of JIT (just in time) processing? A) A company must have dependable suppliers who are willing to deliver on short notice exact quantities of raw materials according to precise quality specifications. B) A company must have a multiskilled work force, so that one worker can have the responsibility to operate and maintain several different types of machines. C) A process cost accounting system must be in place. D) A total quality control system must be established throughout the manufacturing operations. 2. The number of purchase orders would be an appropriate cost driver for 3. The primary benefit of activity-based costing is that it leads to 4. The first step in activity-based costing is to 5. A cost reconciliation schedule is prepared to assign total costs to units transferred out and in ending work in process. A) True B) False 6. Nonvalue-added activities are production-related activities that add cost to a product without increasing its market value. A) True B) False 7. Variable costs, as activity increases, will 8. A cost that increases in total, but not proportionately with increases in the activity level, is a(n)
Background image of page 1

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

View Full Document Right Arrow Icon
9. Given the following costs for Bently Company, classify each cost as either variable, fixed, or mixed. Total Cost at 2,000 Units 3,000 Units Cost A $12,900 $19,350 Cost B 12,300 16,650 Cost C 13,000 13,000
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.

{[ snackBarMessage ]}