Exam 2: Basic Cost Management Concepts

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Beckett Industries has the following beginning and ending inventories for the month of April. Beckett uses one overhead control account and charges overhead to production at 70% of direct labor cost.The company does not formally recognize over- or underapplied overhead until year-end. What was the cost of the materials used by Beckett in April?

(Multiple Choice)

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Question 121

Beckett Industries has the following beginning and ending inventories for the month of April. Beckett uses one overhead control account and charges overhead to production at 70% of direct labor cost.The company does not formally recognize over- or underapplied overhead until year-end. What is Beckett's total manufacturing cost for April?

(Multiple Choice)

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Question 122

Play Time is a nursery school for pre-kindergarten children.The school has determined that the following biweekly revenues and costs occur at different levels of enrollment: The marginal cost when the twenty-ﬁrst student enrolls in the school is:

(Multiple Choice)

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Question 123

Comet Computer Company, a manufacturer of computers and peripheral devices, purchases computer parts such as motherboards, computer chips, hard drives, and displays, and then assembles these parts into a variety of non-customized devices, such as tablet computers, laptops, and desktop computers.Comet's products are available in a limited regional distribution.Which type of production process is most likely used by Comet Computer Company?

(Multiple Choice)

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Question 124

Conversion costs are:

(Multiple Choice)

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Question 125

Conversion costs do not include:

(Multiple Choice)

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Question 126

If the beginning monthly balance of materials inventory was $37,000, the ending balance was $39,500, and $257,800 of materials were used, the cost of materials purchased during the month is:

(Multiple Choice)

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Question 127

Showing 121 - 127 of 127

Play Time is a nursery school for pre-kindergarten children.The school has determined that the following biweekly revenues and costs occur at different levels of enrollment: The marginal cost when the twenty-ﬁrst student enrolls in the school is:

Conversion costs are:

Conversion costs do not include:

If the beginning monthly balance of materials inventory was $37,000, the ending balance was $39,500, and $257,800 of materials were used, the cost of materials purchased during the month is:

The Changing Role of Managerial Accounting in a Dynamic Business Environment

Product Costing and Cost Accumulation in a Batch Production Environment

Process Costing and Hybrid Product-Costing Systems

Activity-Based Costing and Management

Activity Analysis, Cost Behavior, and Cost Estimation

Cost-Volume-Profit Analysis

Variable Costing and the Costs of Quality and Sustainability

Financial Planning and Analysis: the Master Budget

Standard Costing and Analysis of Direct Costs

Flexible Budgeting and Analysis of Overhead Costs

Responsibility Accounting, Operational Performance Measures, and the Balanced Scorecard

Inventory Management and Economic Order Quantity (EOQ) Analysis

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