Traditional costing Study guides, Study notes & Summaries
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WGU C213 FINAL EXAM(QUESTIONS AND ANSWERS) 2023/2024
- Exam (elaborations) • 14 pages • 2023
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WGU C213 FINAL EXAM(QUESTIONS 
AND ANSWERS) 2023/2024 
Order of assets listed on the balance sheet - CORRECT ANSWER-Assets are listed in 
the order of liquidity. Liquidity is the amount of time it would usually take to covert an 
asset into cash. Obviously, cash would be listed first, followed by marketable 
investments (a company can quickly convert a short-term investment into cash). 
Accounts receivable would be listed next followed by inventory, and long-term 
investments, fixed assets...
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ABC Costing vs. Traditional Costing Questions and Answers 2023
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ABC Costing vs. Traditional Costing
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Brooks Final Exam Questions and Correct Answers 2024/2025 with complete solution.
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Brooks Final Exam Questions and Correct Answers 2024/2025 with complete solution. 
 
Which of the following is not typical of traditional costing systems? 
Use of multiple cost drivers to allocate overhead. 
Value-added activities 
all of the above. 
Which of the following is a batch-level activity? 
Purchase ordering 
The use of activity-based costing in service industries 
all of these. 
An "Ordering and Receiving Materials" cost pool would most likely have as a cost driver:
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ABC Costing vs. Traditional Costing Questions and Answers 2023
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ABC Costing vs. Traditional Costing
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ETS MFT BUSINESS EXAM questions with correct answers
- Exam (elaborations) • 66 pages • 2023
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The principal difference between variable costing and absorption costing centers on: 
 
a) whether variable manufacturing costs should be included as product costs 
 
b) whether fixed manufacturing costs should be included as product costs 
 
c) whether fixed manufacturing costs and fixed selling and administrative costs should be included as product costs 
 
d) none of these. CORRECT ANSWER B 
 
General Bikes is debating which marketing research options to employ. The traditional person-to-p...
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Brooks Final Exam 2024 Questions and Answers 100% Correct
- Exam (elaborations) • 14 pages • 2024
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Brooks Final Exam 2024 Questions and Answers 100% Correct 
 
Brooks Final Exam 2024 Questions and Answers 100% Correct 
 
Brooks Final Exam 2024 Questions and Answers 100% Correct 
 
Brooks Final Exam 2024 Questions and Answers 100% Correct 
Which of the following is not typical of traditional costing systems? - ANSWER-Use of multiple cost drivers to allocate overhead. 
 
Value-added activities - ANSWER-all of the above. 
 
Which of the following is a batch-level activity? - ANSWER-Purchase orde...
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C213 Company A calculated the following information under traditional and activity-based c
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C213 Company A calculated the following information under traditional and activity-based c C213 Company A calculated the following information under traditional and activity-based costing for the production and sale of 1,000 units of Product B: Traditional ABC Sales Cost of goods sold Gross margin Which decision should be made about the selling price of Product B? The decision about the selling price of Product B should be based on the costing method that the company believ...
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WGU C213 Final Exam Verified Study Guide Top-Graded 2024
- Exam (elaborations) • 14 pages • 2023
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Order of assets listed on the balance sheet 
Assets are listed in the order of liquidity. Liquidity is the amount of time it would usually take to covert an asset into cash. Obviously, cash would be listed first, followed by marketable investments (a company can quickly convert a short-term investment into cash). Accounts receivable would be listed next followed by inventory, and long-term investments, fixed assets, and intangibles. 
Current assets are listed before long-term assets. 
Current li...
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ETS MFT BUSINESS EXAM QUESTIONS & ANSWERS 2023/2024
- Exam (elaborations) • 55 pages • 2023
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ETS MFT BUSINESS EXAM QUESTIONS & ANSWERS 2023/2024 
 
 
The principal difference between variable costing and absorption costing centers on: 
 
a) whether variable manufacturing costs should be included as product costs 
 
b) whether fixed manufacturing costs should be included as product costs 
 
c) whether fixed manufacturing costs and fixed selling and administrative costs should be included as product costs 
 
d) none of these. - ANSWER-B 
 
General Bikes is debating which marketing rese...
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ETS Exam Study Questions: Accounting Graded A+
- Exam (elaborations) • 14 pages • 2024
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Helpful in determining past and future performance, contains revenues and expenses: A) Income 
statement, B) Retained earnings statement, C) Balance Sheet, D) Statement of cash flows - Answer-A) 
Income Statement 
Defines Assets = liabilities + Shareholder's equity: 
A) Income statement, B) Retained earnings statement, C) Balance Sheet, D) Statement of cash flows - 
Answer-C) Balance Sheet 
Shows the amounts and causes of changes in retained earnings during the stated period, Solved by 
startin...
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