General Accounting Standard costing is best suited for ? A) Repetitive operations B) Custom orders C) Service industries D) Retail operations
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- 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 costsFor each cost pool, identify an appropriate cost driver. A. order department B. accounts receivable processing C. catering D. raw material inventoryGive Answer correct
- General Accounting Standard costing is best suited for a) Repetitive operations b) Custom orders c) Service industries d) Retail operationsThe ____ 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. standardWhat 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
- 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.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 purposesWhich 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
