General AccountingStandard costing is best suited fora) Repetitive operationsb) Custom ordersc) Service industriesd) Retail operations

Explanation of Standard Costing:Standard costing is a cost accounting method where predetermined…

Answered: General Accounting Standard costing is…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter4: Activity-based Costing

Section: Chapter Questions

Problem 6DQ

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For each cost pool, identify an appropriate cost driver. A. order department B. accounts receivable processing C. catering D. raw material inventory
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
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Standard costing in best suited for
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The ____ costing system is the most useful system for management in planning ang controlling business activities such as in the use of CVP analysis and inventories management. A. Absorption B. variable C. job order D. standard
General Accounting Standard costing is best suited for ? A) Repetitive operations B) Custom orders C) Service industries D) Retail operations Correct Answer: A) Repetitive operations
Standard cost systems facilitate the management practice known as A) management development.B) management by exception.C) just-in-time management.D) managing by the numbers.
Preparation of service manual by an electronic manufacturer is an example of A. Unit level activity B. Batch level activity C. Product level activity D. Not considered under Activity Based Costing
Cost accounting systems are used A. by manufacturing companies, not service companies B. to accumulate and assign period costs to products C. to accumulate product cost information D. by stockholders for decision-making purposes
A major focus of managerial accounting is the development of costing information. True or False
What characterizes value-chain accounting analysis? a) Business process connections reveal true cost structures b) Individual steps work independently c) Connections remain irrelevant d) Standard costing tells all

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General Accounting Standard costing is best suited for a) Repetitive operations b) Custom orders c) Service industries d) Retail operations