upQuiz2

# Question 14 2 out of 2 points which one of the

This preview shows pages 11–18. Sign up to view the full content.

Question 14 2 out of 2 points Which one of the following methods of allocating joint costs allocates joint costs to joint products on the basis of estimated sales values at the split-off point? Answer Selected Answer:

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

View Full Document
Question 15 2 out of 2 points Hatchett Inc. produces joint products L, M, and N from a joint process. Information concerning a batch produced in May at a joint cost of \$75,000 was as follows: The amount of joint costs allocated to product M using the physical measure method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar): Answer Selected Answer: \$23,438. Question 16 2 out of 2 points The learning curve in cost estimation is a
good example of: Answer Selected Answer: Question 17 2 out of 2 points A data point that is outside the normal distribution of data, called an "outlier," is often removed from the data set before analysis because it: Answer Selected Answer: Question 18 2 out of 2 points The identification of cost drivers is perhaps the most important step in developing the cost estimate because: Answer Selected Answer: Question 19 2 out of 2 points

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

View Full Document
This question is based on analyzing the relationship of total factory overhead (Y) to direct labor hours (X). The following relationship was found: Y = \$1,000 + \$2X. This equation was probably found through the use of which of the following mathematical techniques? Answer Selected Answer: Question 20 2 out of 2 points A manager uses regression to express sales as a function of advertising expenditures (X 1 ), and per capita income (X 2 ) in your sales area. The following multiple linear regression equation is developed: Y = 10 + .51X 1 + .45X 2. The coefficient of determination is. 96. Determine
which of the following conclusions is valid regarding the coefficient of determination: Answer Selected Answer: Question 21 2 out of 2 points The maintenance expenses of a company are to be analyzed for purposes of constructing a flexible budget. Examination of past records disclosed the following costs and volume measures: Highest and Lowest: Cost per month \$20,000 and \$14,000; Machine hours 55,000 and 35,000. Using the high- low technique, estimate the annual fixed cost for maintenance expenditures: Answer Selected Answer: \$42,000.

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

View Full Document
Question 22 2 out of 2 points Burmer Co. has accumulated data to use in preparing its annual profit plan for the upcoming year. The cost behavior pattern of the maintenance costs must be determined. The accounting staff suggested that linear regression be employed to derive an equation for maintenance hours and costs. Data regarding the maintenance hours and costs for the last year and the results of the regression analysis are as follows:
Average cost per hour (\$51,830 ÷ 6,260) = \$8.28 (rounded to the nearest cent) r = . 99821 r

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

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page11 / 32

Question 14 2 out of 2 points Which one of the following...

This preview shows document pages 11 - 18. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online