Activity-Based Management and Costing Quiz
10 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

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

    More Like This

    Cost Accounting Concepts Quiz
    10 questions

    Cost Accounting Concepts Quiz

    LuckiestVerse avatar
    LuckiestVerse
    Understanding Cost Accounting Concepts Quiz
    10 questions

    Understanding Cost Accounting Concepts Quiz

    LuckiestVerse avatar
    LuckiestVerse
    Activity Based Costing Overview
    10 questions

    Activity Based Costing Overview

    RevolutionaryZombie7464 avatar
    RevolutionaryZombie7464
    Activity-Based Costing Quiz
    36 questions

    Activity-Based Costing Quiz

    SupportedLily avatar
    SupportedLily
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser