Financial Accounting > Final Exam Review > ACCOUNTING ACCCOB3 - Final Exam Reference 75 Questions & Answers. (All)
ACCOUNTING ACCCOB3 - Final Exam Reference 75 Questions & Answers.
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ACCOUNTING ACCCOB3 - Final Exam Reference 75 Questions & Answers. Which of the following could not be used in job order costing? Group of answer choices normal costing an average cost per unit for ... all jobs standards overhead allocation based on the job’s DLH 2 Matthias Corporation has provided data concerning the company’s Manufacturing Overhead account for the month of May. Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was ₱53,000 and the total credits to the account were ₱69,000. Which of the following statements is TRUE? Group of answer choicesActual manufacturing overhead incurred during the month was ₱69,000. Manufacturing overhead for the month was underapplied by ₱16,000. Manufacturing overhead transferred from Finished Goods to Cost of Goods Sold during the month was ₱53,000. Manufacturing overhead applied to the Work-in-Process Inventory for the month was ₱69,000. 3 A decrease in the margin of safety would be caused by a (an) Group of answer choices decrease in the variable cost per unit. decrease in the break-even point in units. increase in total fixed costs. increase in total revenues or sales. 4 Performance of investment centers can be measured using the following methods except economic value-added. return of investment. residual income. profit variance analysis. 5 Statement I: Management Accounting helps the management ofthe firm make data-driven decisions, draw up cohesive plans and continually make progress towards achieving goals by obtaining, evaluating, and responding to feedback. (True) Statement II: Maximizing profit is one of the pillars of management accounting. (False) Group of answer choices Only Statement I is True Both Statements are False Both Statements are True Only Statement II is True [Show More]
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