Give Answer correct 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 system that uses…

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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Similar questions

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
General Accounting Standard costing is best suited for a) Repetitive operations b) Custom orders c) Service industries d) Retail operations
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
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
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
A system for accumulating detailed information about the cost of producing a product is known as a a. product costing system. b. financial accounting system.c. managerial accounting system. d. cost accounting system. (I got A. incorrect)
Which of the following is false when using ABC in a service industry? analyze operations accumulated overhead costs by activity cost pools identify activities identify and use cost drivers to assign the cost pools to products
Which method classifies?
Activity-based costing first assigns costs toa. Productsb. Activitiesc. Overheadd. Departments

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