Which would be an appropriate cost driver for the ordering and receiving

Which would be an appropriate cost driver for the

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24.Which would be an appropriate cost driver for the ordering and receiving activity cost pool? a.Purchase orders b.Machine setupsc.Inspectionsd.Machine hoursTopic: Variance AnalysisObjective: Explain the advantages and disadvantages of using standard costing. 25.When computing variances, the standard price and the standard quantity of raw materials are separated because FINANCIAL ACCOUNTING AND REPORTING EXAMINATION CONTENTSection One: Concepts and standards for financial statements (17–23%)Topic: Basic Accounting Principles and ConceptsObjective: Identify the basic assumptions, principles, and constraints of accounting. 1.The SEC and FASB are two organizations that are primarily responsible for establishing generally accepted accounting principles. It is true that
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Final Examination Study GuideACC/497 Version 76Topic: Basic Accounting Principles and ConceptsObjective: Explain the four basic financial statements and how they are interrelated with each other. 2.Which financial statement represents a single point of time? Topic: Fundamentals of Managerial and Cost AccountingObjective: Identify key components and terminology utilized within cost accounting. 3.When a job is completed, what happens to the cost of the job? a.It is removed from work in process and included in cost of goods sold.b.It is removed from finished goods and included in cost of goods sold.c.It is removed from materials inventory and included in work in process.d.It is removed from work in process and included in finished goods.Topic: Cost-Volume-Profit (CVP)Objective: Distinguish among fixed, mixed, and variable costs. 4.Rosen, Inc. has 10,000 obsolete calculators, which are carried in inventory at a cost of $20,000. If thecalculators are scrapped, they can be sold for $1.10 each (for parts). If they are repackaged, at a costof $15,000, they could be sold to toy stores for $2.50 per unit. What alternative should be chosen, and why? Topic: Cost-Volume-Profit (CVP) Objective: Calculate a break-even point using the elements of Cost-volume-profit (CVP).
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  • Fall '09
  • Balance Sheet, Securities and Exchange Commission, Examination Study Guide, Final Examination Study

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