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Ch04_Guan CM_AISE TB - Chapter 4Activity-Based Costing...

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Chapter 4—Activity-Based Costing MULTIPLE CHOICE 1. Which is NOT a characteristic of a functional-based costing system? a. It uses traditional product costing definitions. b. It uses unit-based activity drivers to assign overhead to products. c. It is cheaper than an activity-based costing system. d. It offers greater product costing accuracy than an activity-based costing system. ANS: D PTS: 1 OBJ: 4-1 2. Functional product costing assigns 3. Unit-based product costing uses which of the following procedures? 4. A(n) _______________ method first traces costs to a department and then to products. 5. A predetermined overhead rate is calculated using which of the following formulas? a. Actual annual overhead / Budgeted annual driver level b. Budgeted annual overhead / Budgeted annual driver level c. Budgeted annual overhead / Actual annual driver level d. none of the above ANS: B PTS: 1 OBJ: 4-1 This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. This may not be resold, copied, or distributed without the prior consent of the publisher.
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6. A costing system that uses actual costs for direct materials and labor and predetermined overhead rates to apply overhead is called
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