Question 1

A system in which companies purchase raw materials only when needed is called

Accepted Answer

A) ABC. 
B) external failure costs. 
C) internal failure costs. 
D) JIT production. 
A) ABC. 
B) external failure costs. 
C) internal failure costs. 
D) JIT production.

Question 2

When calculating the total amount of manufacturing overhead to allocate to a particular job, the company would multiply each departmental overhead rate by ________ and then ________ together the allocated amounts from each department.

Accepted Answer

A) the actual amount of the departmental allocation based used by the job; multiply 
B) the actual amount of the plantwide allocation based used by the job; add 
C) the actual amount of the departmental allocation based used by the job; add 
D) the actual amount of the plantwide allocation based used by the job; multiply 
A) the actual amount of the departmental allocation based used by the job; multiply 
B) the actual amount of the plantwide allocation based used by the job; add 
C) the actual amount of the departmental allocation based used by the job; add 
D) the actual amount of the plantwide allocation based used by the job; multiply

A system in which companies purchase raw materials only when needed is called

When calculating the total amount of manufacturing overhead to allocate to a particular job, the company would multiply each departmental overhead rate by and then together the allocated amounts from each department.

Introduction to Managerial Accounting

Building Blocks of Managerial Accounting

Job Costing

Process Costing

Cost Behavior

Cost-Volume-Profit Analysis

Relevant Costs for Short-Term Decisions

The Master Budget

Performance Evalulation

Standard Costs and Variances

Capital Investment Decisions and the Time Value of Money

Statement of Cash Flows

Financial Statement Analysis

Sustainability

Filters

Exam 4: Activity-Based Costing, Lean Operations, and the Costs of Quality

A system in which companies purchase raw materials only when needed is called

When calculating the total amount of manufacturing overhead to allocate to a particular job, the company would multiply each departmental overhead rate by ________ and then ________ together the allocated amounts from each department.

Introduction to Managerial Accounting

Building Blocks of Managerial Accounting

Job Costing

Process Costing

Cost Behavior

Cost-Volume-Profit Analysis

Relevant Costs for Short-Term Decisions

The Master Budget

Performance Evalulation

Standard Costs and Variances

Capital Investment Decisions and the Time Value of Money

Statement of Cash Flows

Financial Statement Analysis

Sustainability

Filters

When calculating the total amount of manufacturing overhead to allocate to a particular job, the company would multiply each departmental overhead rate by and then together the allocated amounts from each department.