CF2 - CostAccountingExam#2,Fall2003 Multiple Choice Circle...

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Cost Accounting Exam #2, Fall 2003 Multiple Choice Circle the best answer 1. The breakeven point is the activity level where a. revenues equal fixed costs. b. revenues equal variable costs. c. contribution margin equals variable costs. d. revenues equal the sum of variable and fixed costs. 2. Product costing information is used by managers a. to make decisions and strategy. b. for planning and control. c. for cost management. d. for all of the above. 3. __________ is the process of distributing indirect costs to products. a. Cost allocation b. Job cost recording c. Cost pooling d. Cost tracing 4. Actual costing is a costing method that allocates _____________ indirect costs. a. actual b. budgeted c. estimated d. predetermined 5. For decision making, a listing of the relevant costs a. will help the decision maker concentrate on the pertinent data. b. will only include future costs. c. will only include costs that differ among alternatives. d. should include all of the above. 6. In evaluating different alternatives, it is useful to concentrate on a. variable costs. b. fixed costs. c. total costs. d. relevant costs.
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PROBLEM 1 Yurus Manufacturing Company produces two products, bracelets and necklaces. Price and cost data for these two products are as follows: Bracelets Necklaces Selling price $36 $24 Variable costs per unit
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This note was uploaded on 12/05/2011 for the course ECON 101 taught by Professor during the Spring '11 term at University of Central Florida.

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CF2 - CostAccountingExam#2,Fall2003 Multiple Choice Circle...

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