Assignment Solutions from Ultimatetutor

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One of the simplest methods to measure a linear cost function from
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In relation to a cost function, the term reliability refers to _____.
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_____ is a method of approximating cost functions.
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The activity-based costing may reveal _________, whereas
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An organization's budget program should be used
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Which of the following is an objective of budgeting?
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_____ models are mathematical models of the master budget that can
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An important factor considered by sales forecasters is _____.
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_____ are components of a master budget.
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_____ is the logical integration of management accounting tools to gathe
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_____ budgeting is when budgets are formulated with the active
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The break-even point is where _____.
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Output measures of both resources and
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The level of sales at which revenues equal expenses and net income
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_____ is an example of the external financial-reporting purpose of the cost management sys
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Budgeted service department cost rates protects the user
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Budgeted service department cost rates protects the user
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_____ is another term for variable costing.
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In absorption costing, costs are separated into the major categories of
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When the variable costing method is used, fixed factory overhead
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When the variable costing method is used, fixed factory overhead
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Company A’s revenues are $300 on invested capital of $240. Expenses
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The following information is available for the Peter Company:
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The following information is available for the Peter Company: Sales: $150,000
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_____ is a measure of income or profit divided by the investment
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Which type of organization would most likely have work-in-process inventory?
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A new corporation issuing a common, no-par value stock for cash
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The _____ accounting convention uses the acquisition cost minus
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Which one of the following statements is true?
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3) The difference between a single-step and multiple-step income
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2) Nonoperating items on the income statement _____.
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1) The statement of cash flows is used for _____.
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Alabama Company's overhead cost information is given below:
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Florida Company's overhead cost information is given below:
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Illinois Company reported the following information about the
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The following information is for Kinsner Corporation:
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Deadwood Hospital has overall variable costs of 50% of total
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Christina is considering leaving her current position to open a music
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_____ is reported on the financial statements of publicly held companies in the
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The _____ would result in an increase in income under the cash
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The _____ is (are) largely responsible for developing generally
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Cash collected from the customers before goods are delivered is known as_____.
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The accrual basis of accounting recognizes the impact of
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Identify which one of the following statements is false.
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The _____ discloses the economic resources of the organization and the claims
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The fixed overhead rate is computed as_____.
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_____ is (are) used for external reporting.
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The excess of actual overhead over the overhead applied to products is called _____.
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_____ is least likely to be a cost driver as a basis for applying overhead costs.
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_____ is not a cost driver representing an “ability to bear” philosophy.
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Costs are accumulated in traditional and ABC systems by _____.
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Reciprocal services are services provided by a service department to _____.
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Identify which of the following statements is a benefit of decentralization.
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Improvements in the production process are examples of _____cost.
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An uncontrollable cost _____.
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A management control system must _____ to achieve maximum
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Identify which of the following statements regarding responsibility centers is false.
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Identify which of the following is not a characteristic of a
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Identify which of the following statements about "perfection standards" is true.
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Flexible budgets help to measure the _____.
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Efficiency is indicated by _____.
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A variance is the difference between _____.
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Financial planning models _____.
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Preparing the master budget begins by establishing _____.
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Which of the following is not a major benefit of budgeting?
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A sales forecast is _____.
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A major benefit of effective budgeting is that _____.
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Past costs that are unavoidable and unchangeable are known as _____ costs.
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Depreciation is _____.
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In deciding whether to add or delete a product, service, or depa
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_____ would be a consideration in a make-or-buy decision. a.
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Jack Bowers has paid off the mortgage on his house and continues to
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The product strategy in which companies first determine the price at
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The choice of the absorption or contribution approach affects the
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Couch Company can produce either product A or product B. If Couch
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_____ is the process of measuring products, services, and activities
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_____ is a name for a system that first accumulates overhead
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Where a specific product is the cost
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_____ is not a primary purpose of a cost management system.
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The process of identifying appropriate cost drivers and their effects
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_____ is the first step in estimating or predicting costs as a function
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_____ arise as a result of strategic decisions about the scale and
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Costs that change abruptly at intervals of activity because the
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_____ will decrease a company's break-even point.
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If the proportions in a sales mix change, the _____.
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An accountant may have difficulty classifying costs as fixed or variable because _____.
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Output measures of both resources and activities are _____.
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Performance reports _____.
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Ethical accountants are important to society because _____.
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_____ refers to accounting information developed for managers within an organization.
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The following information is available for the Peter Company:
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The following information is available for the Peter Company:
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Identify which of the following is not a characteristic of a management control system.
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Jewel Company's revenues are $300 and invested capital is $240.
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_____ is (are) the most basic component of a management control system.
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_____ is the first step in designing a management control system.
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In absorption costing, costs are separated into the major categories of_____.
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_____ is (are) used for external reporting.
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When the variable costing method is used, fixed factory overhead
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Serena Company has two service departments, Maintenance and
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