??? Which department is usually held responsible for changes in theamount of materials used?a. purchasingb. productionc. engineeringd. marketinge. None of the above

The production department is typically responsible for managing the manufacturing processes,…

Answered: Which department is usually held…

Managerial Accounting

15th Edition

ISBN:9781337912020

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

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

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 8DQ: How are cost of production reports used for controlling and improving operations?

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Similar questions

Account question
Systems Concepts, Traditional versus Activity-Based Cost Accounting Systems The following items are associated with a traditional cost accounting information system, an activity-based cost accounting information system, or both (that is, some elements are common to the two systems): Required: 1. Select the appropriate categories for each of the following items: a. Usage of direct materials b. Direct materials cost assigned to products using direct tracing c. Direct labor cost incurrence d. Direct labor cost assigned to products using direct tracing e. Setup cost incurrence f. Setup cost assigned using number of setups as the activity driver g. Setup cost assigned using direct labor hours as the activity driver h. Cost accounting personnel i. Submission of a bid, using product cost plus 25 percent j. Purchasing cost incurrence k. Purchasing cost assigned to products using direct labor hours as the activity driver l. Purchasing cost assigned…
Factors affecting the classification of a cost as direct or indirect include: A. cost behaviour patterns, cost drivers, and relevant ranges. B. materiality of the cost, available information-gathering technology, and design of operations. C. materials, labour, and factory overhead D. unit costs, inventory production stage, and contractual agreements.
Which of the following is not used in assigning manufacturing costs to work in process inventory?a. Actual manufacturing overheadb. Time ticketsc. Materials requisitionsd. Predetermined overhead rate
Appropriate base to allocate purchase department cost to different products is? A. Machine Hour B. Purchase Order C. Closing stock of Material D. Units of output
Which of the following is NOT correct about cost center and cost unit?Select one:a. A cost center is defined as "a location, person, or item of equipment for which costs may be ascertained and used for the purpose of control.b. a cost center refers to a section of the business to which costs can be charged. It may be a location, an item of equipment, or a person.c. A cost unit is defined as a unit o/product, service or time in relation to which cost may be ascertained or expressed.d. In any organization, there is either cost center or cost unit; they are alternatives for each other.
Which of the following would not be classified as a product cost? A. Direct materials. B. Direct labor. C. Indirect materials. D. Sales commissions.
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
What is the most important purpose of the cost of production report?
What are the objectives of a cost management information system?
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
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

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Which department is usually held responsible for changes in the amount of materials used? a. purchasing b. production c. engineering d. marketing e. None of the above