Cost pools Study guides, Study notes & Summaries

What are the 3+1 stages of absorption costing? correct answer: 1. Allocation 2. Apportionment 3. Absorption = Production Cost 4. Under/over = Non prod OH Why would you use Absorption Costing? correct answer: Valuing Inventory Pricing Decisions Establishing profitability What are pros and cons of absorption and marginal costing? correct answer: *Absorption* -Avoids varying profits if sales are seasonal -Consistent with accounting standards -Recognises Long Run variable costs -...

What are the 3+1 stages of absorption costing? - Answer- 1. Allocation 2. Apportionment 3. Absorption = Production Cost 4. Under/over = Non prod OH Why would you use Absorption Costing? - Answer- Valuing Inventory Pricing Decisions Establishing profitability What are pros and cons of absorption and marginal costing? - Answer- *Absorption* -Avoids varying profits if sales are seasonal -Consistent with accounting standards -Recognises Long Run variable costs -Implies OH related to...

WGU C428 Exam with Correct Answers Rated A+ Activity-based costing (ABC): A.can be used only in a process cost system. B.focuses on units of production. C.focuses on activities performed to produce a product. D.uses only a single basis of allocation. es on activities performed to produce a product. Activity-based costing: A.is the initial phase of converting to a just-in-time operating environment. B.can be used only in a job order costing system. C.is a two-stage overhead cost allo...

BUS 475 - 100 Questions and Answers Latest (100%Verified by Expert). 1) The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals: Income Statement Balance Sheet Dr. Cr. Dr. Cr. Totals $58,000 $48,000 $34,000 $44,000 Closing entries are necessary for __________. A. temporary accounts only B. permanent accounts only C. permanent or real accounts only D. both permanent and temporary accounts Read more: 2) As Plant Controller, you are tryi...

14 Points correct answers W. Edwards Deming's 14 management practices to help companies increase their quality and productivity A3 Method correct answers A means of compactly describing a business process Abnormal Demand correct answers Demand in any period that is outside the limits established by management policy Absorption Costing correct answers An approach to inventory valuation in which variable costs and a portion of fixed costs are assigned to each unit production. Acceptab...

CMN 140 Exam1, CMN 140 Exam 2, CMN 140 Final 194 Questions with Verified Answers "Hardware" vs "Software" of the brain - CORRECT ANSWER *Hardware:* -Biological organ of communication -Computation is processed in gray matter -> e.g. how info is processed in the brain -Info is transmitted via white matter *Software:* -The brain gives rise to the mind -Some programs are innate (e.g. capacity for language) -Some are learned (e.g. English language) *There is a deep physical conn...

Arbot Co. manufactures appliances at three manufacturing facilities in the United States. Each location has a plant manager who oversees the manufacturing process for that location. Segmented income statements are prepared for each plant and for each product manufactured in the plant. The salary of each plant manager is a: - Answer-traceable fixed cost to the plant and a common fixed cost for the individual product lines made in the plant SPS Products has two divisions—Catalog Sales and O...

HCAD 375 Exam 2 Question and answers rated A+ 2024 HCAD 375 Exam 2 Question and answers rated A+ 2023 Failing to do what can sink a healthcare organization? - correct answer Control costs Fixed costs do what as the census changes? - correct answer Do not change What type of cost should raw food costs be? - correct answer Variable cost costs that accrue over a specific span of time are called - correct answer Period costs what is one of the most common ways to examine labor...

ACCT 2121 Mid-term Exam 2022 MCQ Q1 (1 point) In multiproduct situations, when the sales mix shifts toward the product with the highest contribution margin per unit, then: A) total revenues will decrease B) breakeven quantity will increase C) total contribution margin will decrease D) operating income will increase Q2 (1 point) Hope company produces and sells 500 units of its only product per month at the selling price of $1,200. The variable manufacturing cost of the 500 units is...

BUS 475 Final Exam Questions and Answers (Revised And 100%Verified) Latest A+. 1) Which one of the following items is not generally used in preparing a statement of cash flows? A. Adjusted trial balance B. Comparative balance sheets C. Additional information D. Current income statement 2) One of Astro Company's activity cost pools is machine setups, with estimated overhead of $150,000. Astro produces sparklers (400 setups) and lighters (600 setups). How much of the machine setup cost p...