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: 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

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
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.
It is the collection of cost data in some way through an accounting system A. Cost allocation OB. Cost Absorption C. Cost Assignment OD. Cost accumulation
Activity based Costing enables overhead cost to be ___________assigned to cost objects. a. Over b. Under c. Accurately d. Highly
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
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