Introduction to Management Accounting Horngren CH 4 Exam Questions with Complete Solutions.

Introduction to Management Accounting Horngren CH 4 Exam Questions with Complete Solutions Cost Allocation - Correct Answers: The primary purposes of cost-management system does not include ____ Cost Accumulation - Correct Answers: The cost accounting system typically involves two processes-cost allocation/assignment and ____ Cost Allocation - Correct Answers: The tracing or reassigning of costs to one or more cost objects is referred to as ____ Cost - Correct Answers: A sacrifice or giving up of a resources of particular purpose is called ____ Direct Labor - Correct Answers: What is a type of inventory cost? Merchandise Company - Correct Answers: A company that has the following partial balance sheet for the year is an example of what type of company: Cash - $400,000 Accounts Receivable - 50,000 Merchandise Inventories - 5,773,420 Plan Equipment - 1000,000 Traditional Costing - Correct Answers: The cost accounting system that uses a single cost pool for all indirect production costs is called ___ Only on Cost Driver - Correct Answers: A cost pool is a group of costs that is allocated to cost objectives using ____ Calculate and interpret the new activity-based information - Correct Answers: The fourth step in the design and implementation of an activity-based-costing system is ____ Reduce the accuracy of cost allocations - Correct Answers: Activity based costing usually can ____