MCQ Financial Accounting MCQWhich methodvariable or fixed?classifies costs asa) Job order costing b) Process costingc) Direct costing d) Standard costing

Explanation of Direct Costing :Direct costing (also known as variable costing or marginal costing)…

Answered: Financial Accounting MCQ Which method…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter7: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 4MTC

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Similar questions

Accumulating costs means that a. costs must be summed and entered on the income statement. b. each cost must be linked to some cost object. c. costs must be measured and tracked. d. costs must be allocated to units of production. e. costs have expired and must be transferred from the balance sheet to the income statement.
Which is not a task typically associated with ABC systems? A. calculating the overhead application rate for each cost pool B. applying a single cost rate C. identifying a cost driver D. more correctly allocating overhead costs
Identify appropriate cost drivers for these cost pools: A. setup cost pools B. assembly cost pool C. supervising cost pool D. testing cost pool
Can a company gather information for both variable and absorption costing systems?
Product (or manufacturing) costs consist of a. direct materials, direct labor, and selling costs. b. direct materials, direct labor, manufacturing overhead, and operating expense. c. administrative costs and conversion costs. d. prime costs and manufacturing overhead. e. selling and administrative costs.
The ability to assign a cost directly to a cost object by means of a causal relationship is a. allocation b. traceability c. separability d. value chain process
Which is not a step in analyzing the cost driver for manufacturing overhead? A. Identify the cost B. identify non-value-added costs C. analyze the effect on manufacturing overhead D. identify the correlation between the potential driver and manufacturing overhead
Activity-based management includes both process value analysis and activity-based costing. Which of the following features is primarily associated with process value analysis? a. Defining root causes of each activity b. Identifying cost objects and activity drivers c. Calculating activity rate d. Assigning costs to cost objects
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Which method classifies?
Costs as variable or fixed?
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Financial Accounting MCQ Which method variable or fixed? classifies costs as a) Job order costing b) Process costing c) Direct costing d) Standard costing