
College Acct 2- Chapter 04
Flashcard
•
Business
•
11th - 12th Grade
•
Practice Problem
•
Hard
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1.
FLASHCARD QUESTION
Front
Which of the following is a potential issue with using departmental overhead rates? They may rely too heavily on volume-based allocation, which can be problematic when products vary in production complexity or lot size.
Back
They may rely too heavily on volume-based allocation, which can be problematic when products vary in production complexity or lot size.
2.
FLASHCARD QUESTION
Front
What is the primary benefit of activity-based costing?
Back
More accurate product costing.
3.
FLASHCARD QUESTION
Front
As the complexity of a product's manufacturing operation increases, the number of activities and cost drivers used in an activity-based cost system will likely:
Back
increase.
4.
FLASHCARD QUESTION
Front
Activity-based costing is most appropriate to use when labor costs are a(n) __________ proportion of total product costs and the manufacturing process is ____________.
Back
decreasing, complex
5.
FLASHCARD QUESTION
Front
The total overhead applied to Product M6 under activity-based costing is closest to:
Back
$350,708
6.
FLASHCARD QUESTION
Front
Which of the following is a limitation of activity-based costing?
Activity-based costing can be used only if approved by the Institute of Management Accountants.
Activity-based costing can be expensive to use.
Activity-based costing can only be used by firms involved in manufacturing.
Activity-based costing systems can only be used by firms with state-of-the-art technology.
Back
Activity-based costing can be expensive to use.
7.
FLASHCARD QUESTION
Front
Back
$38.44
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