Podcast
Questions and Answers
Which of the following costs are considered irrelevant to decision making?
Which of the following costs are considered irrelevant to decision making?
- Controllable costs for management
- Future costs that can be influenced
- Uncontrollable costs that can be modified
- Sunk costs from previous decisions (correct)
What characteristic defines fixed costs?
What characteristic defines fixed costs?
- They change with production levels.
- They are influenced by management decisions.
- They fluctuate with market conditions.
- They remain constant over a wide range of activity levels. (correct)
How do total variable costs behave as production increases?
How do total variable costs behave as production increases?
- They increase. (correct)
- They remain the same.
- They fluctuate.
- They decrease.
Which statement accurately describes controllable costs?
Which statement accurately describes controllable costs?
What are the future-focused costs in decision making?
What are the future-focused costs in decision making?
Which of the following describes the behavior of variable costs per unit?
Which of the following describes the behavior of variable costs per unit?
Which of the following describes the way in which total fixed costs behave?
Which of the following describes the way in which total fixed costs behave?
How do fixed costs per unit behave as production levels change?
How do fixed costs per unit behave as production levels change?
What is the first step to convert a data set to an Excel table?
What is the first step to convert a data set to an Excel table?
What is typically done after clicking the Table icon in Excel?
What is typically done after clicking the Table icon in Excel?
Which of the following can be used to extract a specific subset of data from a larger data set?
Which of the following can be used to extract a specific subset of data from a larger data set?
How does Honda classify steel, glass, and plastic before they are used in manufacturing cars?
How does Honda classify steel, glass, and plastic before they are used in manufacturing cars?
What category does Walmart use to classify clothing held for sale?
What category does Walmart use to classify clothing held for sale?
Which classification would Honda use for its partially completed vehicles?
Which classification would Honda use for its partially completed vehicles?
What is the term used for the promotion of products and services within the value chain?
What is the term used for the promotion of products and services within the value chain?
In terms of the value chain, where would depreciation on a factory be classified?
In terms of the value chain, where would depreciation on a factory be classified?
Which area of the value chain would a technical support hotline for customers fall under?
Which area of the value chain would a technical support hotline for customers fall under?
What distinguishes direct costs from indirect costs?
What distinguishes direct costs from indirect costs?
In which situation would a cost be considered indirect?
In which situation would a cost be considered indirect?
What is the Net Sales for the Merchandising/Manufacturing Company?
What is the Net Sales for the Merchandising/Manufacturing Company?
Which of the following expenses is not listed for the Service Company?
Which of the following expenses is not listed for the Service Company?
What is the Gross Income for the Merchandising/Manufacturing Company?
What is the Gross Income for the Merchandising/Manufacturing Company?
How is the Cost of Goods Sold calculated for a Merchandiser?
How is the Cost of Goods Sold calculated for a Merchandiser?
What is the total amount of Operating Expenses listed for the Merchandising/Manufacturing Company?
What is the total amount of Operating Expenses listed for the Merchandising/Manufacturing Company?
Which figure contributes to the calculation of Net Operating Income for the Merchandising/Manufacturing Company?
Which figure contributes to the calculation of Net Operating Income for the Merchandising/Manufacturing Company?
What is the total Net Income for the Service Company?
What is the total Net Income for the Service Company?
What amounts to the Returns & Allowances for the Merchandising/Manufacturing Company?
What amounts to the Returns & Allowances for the Merchandising/Manufacturing Company?
Which of the following is classified as a product cost of a manufacturer?
Which of the following is classified as a product cost of a manufacturer?
Which of the following represents conversion costs?
Which of the following represents conversion costs?
What type of inventory is not found on the balance sheet of a service company?
What type of inventory is not found on the balance sheet of a service company?
Depreciation on automated production equipment is categorized as what type of cost?
Depreciation on automated production equipment is categorized as what type of cost?
Which of the following costs would be classified as prime costs?
Which of the following costs would be classified as prime costs?
Which of the following would be classified as a period cost?
Which of the following would be classified as a period cost?
What type of inventory accounts are maintained by a manufacturer?
What type of inventory accounts are maintained by a manufacturer?
Which of the following costs contributes to manufacturing overhead?
Which of the following costs contributes to manufacturing overhead?
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