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Which phrase best describes the current role of the

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Which phrase best describes the current role of the managerial accountant?a. Managerial accountants prepare the financial statements for an organization.
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Chapter 4 / Exercise 5
College Accounting, Chapters 1-27
Heintz/Parry
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b. Managerial accountants facilitate the decision-making process within organization.c. Managerial accountants make the key decisions within an organization.d. Managerial accountants are primarily information collectors.e. Managerial Accountants are solelyAnswer.BAn example of qualitative data is:
Product and service costing information is prepared for
Manufacturing costs typically consist of
In comparison to the traditional manufacturing environment, overhead costs in a JITenvironment all the following are true except:a. are more easily tracked to products.b. are frequently direct in nature.
c. include rent, insurance and utilities.d. most of the costs are likely to be indirect in nature.e. labour need not be tracked to the product.Answer.DAs production increases within the relevant range,
You are given the cost and volume information below:VolumeCost11Unit$ 1510 units150100 units1500What type of a cost is given?
Which of the following statements regarding graphs of fixed and variable costs is true?
e. Fixed and Variable costs are curvilinear form above zero on the “Y” axisAnswer.Dof the following statements regarding budgeting is true excepta. Budgeting helps managers determine the resources needed to meet their goals andObjectives.b. Budgeting is a key ingredient in good decision-making.c. Budgeting is a bookkeeping taskd. The focus of budgeting is planning.e. Budgeting is an executive responsibility.Answer.C
The approach in which the company under-cost its one product and over-cost it’s at leastone product is classified as
The budgeted total cost in indirect cost pool is divided by budgeted total quantity of costallocation base to calculate
In activity based cost system, the activity, unit of work or task with differentiated purpose isclassified as
The costs of all the activities for individual products or services are classified asA.purpose level costsB.output-unit level costsC.input-unit level costsD.activity level costsAnswer.B
In the activity based costing implementation, the product's diverse demand is based on
The cost pool category which have the similar cause and effect relationship with each costdriver used as allocation base is classified as
In the activity based costing method implementation, the indirect costs are allocated by using the
The costing system in which individual activities are identified as the cost object isconsidered asA.manufactured costingB.activity based costingC.allocation costingD .base costingAnswer.B
The type of costs that cannot be traced for individual products but help in supporting theorganization are classified as
In the activity based costing method implementation, the output unit level costs are classifiedas

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Term
Spring
Professor
MichaelCanniff
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
College Accounting, Chapters 1-27
The document you are viewing contains questions related to this textbook.
Chapter 4 / Exercise 5
College Accounting, Chapters 1-27
Heintz/Parry
Expert Verified

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