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Cost Accounting
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Cost Accounting
Which of the following is an example of purchasing costs?
incoming freight
storage costs
insurance
spoilage
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Cost Accounting
In the specification analysis, the assumptions related to variance state that:
variance of residuals is constant
variance of goodness is constant
goodness of fit is constant
standard error is constant
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Cost Accounting
The manager who is responsible for investments of the company, its costs and revenues is known as
profit center
investment center
cost center
revenue center
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Cost Accounting
The profit forgone by capital investment in inventory rather than investment of capital to somewhere else is classified as
relevant purchase order costs
relevant inventory carrying costs
irrelevant inventory carrying costs
relevant opportunity cost of capital
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Cost Accounting
An efficiency variance is subtracted from actual input quantity to calculate
actual quantity manufactured
budgeted quantity manufactures
budgeted quantity sold
budgeted input quantity
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Cost Accounting
An approach which is used to manage unused capacity is
reengineering
downsizing
upgrading
none of above
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Cost Accounting
In master budgeting, the cost drivers for manufacturing overhead costs are
direct manufacturing labor-hours
setup labor-hours
budgeted labor-hours
both a and b
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Cost Accounting
The contribution margin per unit is multiplied to number of units sold to calculate
revenue margin
variable margin
contribution margin
divisor margin
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Cost Accounting
In monetary terms, an expected value of the outcome is classified as
expected value
expected decision value
expected outcome value
expected monetary value
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Cost Accounting
If the flexible budget amount is $7500 and the sales volume variance is $6500, then the static budget amount would be
$7,500
$6,500
$1,000
$10,000
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