BUS 590 Week 2 Quiz Ashford
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BUS 590 Week 2 Quiz Ashford
Question 1. If the actual manufacturing overhead cost for a period exceeds the manufacturing overhead cost applied, then manufacturing overhead would be considered to be underapplied.
Question 2. Both job-order and process costing systems use averaging to compute unit product costs.
Question 3. There are two acceptable methods for closing out any balance of underapplied or overapplied manufacturing overhead. One method involves allocation of the balance among several accounts, whereas the other closes any balance directly to:
Question 4. As total sales increase beyond the break-even point, the degree of operating leverage will decrease.
Question 5. The "costs to be accounted for" portion of the cost reconciliation report includes the cost of beginning work in process inventory and the costs added during the period.
Question 6. Assume a company sells a single product. If Q equals the level of output, P is the selling price per unit, V is the variable expense per unit, and F is the fixed expense, then the break-even point in sales dollars is:
Question 7. When the predetermined overhead rate is based on direct labor-hours, the amount of overhead applied to a job is proportional to the estimated amount of direct labor-hours for the job.
Question 8. In a job-order cost system, direct labor is assigned to a job using information from the employee time ticket.
Question 9. The impact on net operating income of a given dollar change in sales can be computed by multiplying the contribution margin by the dollar change in sales.
Question 10. Job cost sheets are used to record the costs of preparing routine accounting reports.
BUS 590 Week 2 Quiz Ashford
Follow this link to get this tutorial:
http://mindsblow.us/question-details/BUS-590-Week-2-Quiz-Ashford/3117...