1. (Points: 0) In an organizational chart, what do the boxes represent? a. Line positions. b. Staff positions. c. Areas of management responsibility. d. Informal relationships. Save Answer 2. (Points: 0) The manager of the accounting department is known a
Activity Based Costing
Step 1: Define activities, cost pools and measures.
Step 2: Assign overhead costs to activity cost pools. This can be a multi step process
Step 3: Calculate activity rates = Costs assigned to activity/activity base
Direct Materials: Materials that become an integral part of the finished product and
whose costs can be traced to the finished product.
Direct Labor: Labor costs that can be easily traced to individual units of product.
Product costs consist of direct materials, direct labor, and overhead. Direct materials and direct labor
costs are those that can be identified and traced to the product(s). Overhead costs must be allocated to
products. Let's compare and contrast two
ACCT 2301, Exam 1
1. Which of the items below is not a business organization form? a. entrepreneurship b. proprietorship c. partnership d. corporation 2. An entity that is organized according to state or federal statutes and in which ownersh
True/False Questions 1. Within the relevant range, a change in activity results in a change in total variable cost and the per unit fixed cost. Ans: True AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Reporting LO: 1 Level: Medium 2. Th
Garrison 14e Practice Exam Chapter 7
Print these pages. Answer each of the following questions, explaining your answers or showing your
work, and then compare your solutions to those provided at the end of the practice exam.
1. Carpo Company uses activity