Simple costing system Samenvattingen, Aantekeningen en Examens

WGU C213 Accounting for Decision Makers 2023/ 2024 Exam | Questions and Verified Answers | A Grade Q: What is the cost to maintain Central Park? Opportunity cost: How much rent could the City of New York get by subleasing some of the Central Park land? Q: Which of the following is NOT true of period costs? Answer: They may appear on the balance sheet as inventory. Q: The Zig-Zag Company manufactures zippers for many clothing manufacturers. Costs for the year were direct...

IAAO 300: Complete Course Review Questions and Answers 100% Pass What is the main difference between single property appraisal and mass appraisal? 1. Group vs Particular 2. Mass Appraisal emphasizes standardized and statistical quality control features In the Appraisal Process, "Define the valuation problem" does not include which of the following: a. Define the Value to be developed b. Identify limiting conditions or limitations c. Date of the value d. Competitive properties e. Identify...

MRL3701 INSOLVENCY LAW PAST EXAM PACK QUESTIONS AND ANSWERS SUMMARISED NOTES S - The study-notes marketplace MRL 3701 OCTOBER/NOVEMBER 2018 QUESTION 1 a) Inability to pay debts is, at most merely evidence of insolvency. (page 3) b) Brenda’s application for voluntary surrender must be set out the causes of her insolvency in some detail to enable the court to determine whether the application is ......................... c) Christopher commits an act of insolvency by depar...

Test Bank 1 Cost Accounting, 14e (Horngren/Datar/Rajan) Chapter 1 The Accountant's Role in the Organization Objective 1.1 1) Management accounting: A) focuses on estimating future revenues, costs, and other measures to forecast activities and their results B) provides information about the company as a whole C) reports information that has occurred in the past that is verifiable and reliable D) provides information that is generally available only on a quarterly or annual basis Answer...

What is cost accounting? - Answer- analyses past, present and future data for the management accountant to use What is costing? - Answer- the process of determining the costs of products, services or activities. Methods include absorption costing and process costing. What is absorption costing and what are the steps? - Answer- method of sharing out overheads incurred amongst units produced. 1. Allocation 2. Apportionment 3. Absorption Reasons to use absorption costing? - Answer- 1....

True - correct answer There is a tremendous variety of products, from single-chip microcomputers costing a few dollars to supercomputers costing tens of millions of dollars that can rightly claim the name "computer". a. True b. False False - correct answer The variety of computer products is exhibited only in cost. a. True b. False False - correct answer Computer organization refers to attributes of a system visible to the programmer. a. True b. False False - correct answer Chan...

ABC analysis - correct answer inventory control system that divides the inventory into three classes: A, B, and C, depending on the value and importance of the item accelerated depreciation method - correct answer allows asset own to take greater amounts of depreciation during early years of asset's life, defers some of the taxes until later years acceptable quality level (AQL) - correct answer quality standard that allows for a prespecified number of defects acceptance - correct answe...

MBA Exit Exam | latest 2023/24 full testbank with complete solution ABC analysis - inventory control system that divides the inventory into three classes: A, B, and C, depending on the value and importance of the item accelerated depreciation method - allows asset own to take greater amounts of depreciation during early years of asset's life, defers some of the taxes until later years acceptable quality level (AQL) - quality standard that allows for a prespecified number of defects acc...

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

WGU C253 Managerial Accounting, Exam Review Questions. Latest update, VERIFIED. Pre-determined overhead rate formula - -projected overhead costs / expected activity base applied overhead formula - -pre-determined overhead rate x actual units of allocation based (such as direct labor hours) Under/over applied overhead rate = - -actual MOH - applied MOH Job cost = - -Direct materials + direct labor + applied MOH + (beg wip - ending wip) Cost of good sold = - -cost of goods manufactured ...