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Accounting

acc 561 final - only 16 questions

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Horizontal analysis is a technique for evaluating a series of financial statement data over a period of time
to determine the amount and/or percentage increase or decrease that has taken place.
that has been arranged from the highest number to the lowest number.
that has been arranged from the lowest number to the highest number.
to determine which items are in error.
In a process cost system, product costs are summarized:
when the products are sold.
on job cost sheets.
on production cost reports.
after each unit is produced.
An activity that has a direct cause-effect relationship with the resources consumed is a(n)
overhead rate.
cost driver.
product activity.
cost pool.
Activity-based costing
allocates overhead directly to products and services based on activity levels.
assigns activity cost pools to products and services, then allocates overhead back to the activity cost pools.
allocates overhead to multiple activity cost pools, and it then assigns the activity cost pools to products and services by means of cost drivers.
accumulates overhead in one cost pool, then assigns the overhead to products and services by means of a cost driver.
Fixed costs are $600,000 and the contribution margin per unit is $150. What is the break-even point?

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$4,000,000
4000
4,000 units
1,500 units
$1,500,000
When a company assigns the costs of direct materials, direct labor, and both variable and fixed manufacturing overhead to products, that company is using
product costing.
operations costing.
absorption costing.
variable costing.
If a division manager's compensation is based upon the division's net income, the manager may decide to meet the net income targets by increasing production when using
variable costing, in order to increase net income.
variable costing, in order to decrease net income.
absorption costing, in order to increase net income.
absorption costing, in order to decrease net income.
An unrealistic budget is more likely to result when it
has been developed in a bottom up fashion.
has been developed in a top down fashion.
is developed with performance appraisal usages in mind.
has been developed by all levels of management.
A major element in budgetary control is
approval of the budget by the stockholders.

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