ACC 350 Cost Accounting Entire Course
ACC 350 Week 2 Quiz 1
ACC 350 Week 3 Quiz 2
ACC 350 Week 4 Quiz 3
ACC 350 Week 5 Midterm Exam
ACC 350 Week 6 Quiz 4
ACC 350 Week 7 Quiz 5
ACC 350 Week 9 Quiz 6
ACC 350 Week 9 Quiz 7
ACC 350 Week 10 Quiz 8
ACC 350 Week 11 Midterm Exam
1) Which of the following statements is true of a peanut-butter costing system?
2) Overcosting a particular product may result in ________.
1. A) loss of market share
2. B) pricing the product too low
3. C) operating efficiencies
4. D) understating total product costs
3) For a company with diverse products, undercosting overhead of a product will lead to ________.
1. A) misallocating direct labor costs of the product.
2. B) misallocating direct material costs of the product
3. C) misallocating indirect costs of another product
4. D) misallocating direct costs of another product
4) Aqua Company produces two products–Alpha and Beta. Alpha has a high market share and is produced in bulk. Production of Beta is based on customer orders and is custom designed. Also, 55% of Beta’s cost is shared between design and setup costs, while Alpha’s major portions of costs are direct costs. Alpha is using a single cost pool to allocate indirect costs. Which of the following statements is true of Aqua?
1. A) Aqua will overcost Beta’s direct costs as it is using a single cost pool to allocate indirect costs.
2. B) Aqua will undercost Alpha’s indirect costs because alpha has high direct costs.
3. C) Aqua will overcost Alpha’s indirect costs as it is using a single cost pool to allocate indirect costs.
4. D) Aqua will overcost Beta’s indirect costs because beta has high indirect costs.
5) Product-cost cross-subsidization ________.
1. A) exists when one overcosted product results in more than one other product being overcosted
2. B) means that if a company...