Activity-Based Management and Costing Quiz
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Questions and Answers

Which of the following is a learning objective of the chapter?

  • Identify value-added versus non-valueadded activities (correct)
  • Explain how costs are computed using activity-based costing
  • Describe the types of management information provided by an activity-based costing/management system
  • Explain when it is appropriate to use activity-based costing

    • What is the focus of activity-based management?

  • Identifying cost drivers in activity-based costing
  • Explaining how costs are computed using activity-based costing
  • Enhancing profitability (correct)
  • Calculating manufacturing cycle efficiency

    • What is an activity in the context of cost accounting?

  • A non-repetitive action performed in fulfillment of a business function
  • A repetitive action performed in fulfillment of a business function (correct)
  • An action performed outside of the business function
  • A one-time action performed in fulfillment of a business function

    • What does activity-based costing (ABC) compute?

    <p>Costs</p> Signup and view all the answers

    When is it appropriate to use activity-based costing?

    <p>When costs need to be computed accurately</p> Signup and view all the answers

    Which of the following is a key objective of activity-based management?

    <p>Improving customer satisfaction</p> Signup and view all the answers

    What is the purpose of designating cost drivers in activity-based costing?

    <p>To allocate costs to activities</p> Signup and view all the answers

    Which of the following is true about non-value added activities?

    <p>They decrease manufacturing cycle efficiency</p> Signup and view all the answers

    What types of information does an activity-based costing/management system provide?

    <p>Information about both value-added and non-value added activities</p> Signup and view all the answers

    When is it appropriate to use activity-based costing?

    <p>When manufacturing cycle efficiency is low</p> Signup and view all the answers

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