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TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 1) The allocation of one particular cost must satisfy all four purposes of cost allocation. 1) _______ 2) Indirect costs typically constitute a large percentage of the costs assigned to cost objects. 2) _______ 3) For the economic decision purpose of cost allocation, the costs in all six functions of the value chain should be included. 3) _______ 4) The costs of designing and implementing sophisticated cost allocation systems are usually not very visible. 4) _______ 5) If one is willing to put in the […]

  71) Melik Company provided the following information.   Budgeted input12,000 kilograms Actual input15,000 litres Budgeted production5,000 units Actual production4,750 units   What is the partial productivity ratio? 71) ______ A) 0.32 units per kilogram B) 0.33 units per kilogram C) 3.16 units per kilogram D) 1.71 units per kilogram E) 0.40 units per kilogram 72) Which of the following statements is TRUE concerning productivity? 72) ______ A) the partial productivity ratio measures the number of outputs produced per multiple input B) productivity has increased when the partial productivity is high C) the lower the partial productivity ratio, the greater […]

  SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. 71) Scarborough Sales, a real estate company specializing in apartment rentals and home sales, is having difficulty in gathering appropriate cost information for evaluating its operations. It owns several large apartment complexes and sells homes owned by builders or existing homeowners. As the company's new accountant you define cost by major activity. You use this information for allocating costs to cost objects. Also, cost pools are created for appropriate cost allocations. The owner of the company is interested in exactly what you have […]

  41) Eliminating non-value added activities by reducing their cost drivers, is referred to as, 41) ______ A) value engineering. B) value-added activity base pricing. C) cost incurrence costing. D) value-added pricing. E) price engineering. 42) When are a product's direct materials cost most likely to be locked in? 42) ______ A) when the bill for the materials is paid B) when materials are received from the supplier C) when the materials are used in production D) when the product is designed E) when purchasing commits to buying the materials 43) In a graph with cumulative costs per unit as […]

  SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. 73) Chalet Ski & Patio manufactures a product that has two parts, X and Y. It is currently considering two alternative proposals related to parts X and Y. The first proposal is for buying part Y. This would free up some of the plant space for the manufacture of more of part X and assembly of the final product. The product vice-president believes the additional production of the final product can be sold at the current market price. No other changes in manufacturing […]