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5 Written questions

5 Matching questions

  1. Differential analysis
  2. Project
  3. Direct costs are classified further into
  4. Relevant range
  5. cost variance analysis
  1. a process of estimating revenues and costs of alternative actions available to decision makers and of comparing these estimates to the status quo
  2. b complex job that often takes months or years to complete and requires the work of many different departments, divisions or subcontractors
  3. c limits within which a cost estimate may be valid
  4. d comparison of actual input amounts and prices with standard input amounts and prices
  5. e direct materials cost and direct labor costs:

5 Multiple choice questions

  1. an accounting method that assigns costs to cost objects at predetermined amounts
  2. excess of operating revenues over the operating costs necessary to generate those revenues.
  3. x term, or predictor, on the right hand side of a regression equation
  4. sales dollars minus direct materials costs and variables such as energy and piecework labor
  5. exporting a product to another country at a price below domestic cost

5 True/False questions

  1. Process costinghybrid costing system used in manufacturing goods that have some common characteristics and some individual characteristics


  2. Two types of product costsproduct in the production process but not yet complete


  3. unfavorable variancevariance that, taken alone, reduces the operating profit.


  4. Step costcost that increases with volume in steps; also called semi fixed costs


  5. Bottlenecksoperation where the work required limits production


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