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Chapter 1 Managerial Accounting and Cost Concepts Questions And Answers
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Garrison, Chapter 1, Managerial Accounting Questions And Answers
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Activity Base - ANS A measure of whatever causes the incurrence of a variable cost. For example, the total cost of surgical gloves in a hospital will increase as hte number of surgeries increases. Therefore, the number of surgeries in the activity base that explaines th total cost of surgica...
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Add to cartActivity Base - ANS A measure of whatever causes the incurrence of a variable cost. For example, the total cost of surgical gloves in a hospital will increase as hte number of surgeries increases. Therefore, the number of surgeries in the activity base that explaines th total cost of surgica...
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chapter 3 managerial accounting garrison Questions And Answers
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Bill of materials - ANS A document that shows the quantity of each type of direct material required to make a product Cost driver - ANS A factor, such as machine- hours, beds occupied, computer time, or flight- hours, that causes overhead costs Cost of goods manufactured - ANS ...
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Add to cartBill of materials - ANS A document that shows the quantity of each type of direct material required to make a product Cost driver - ANS A factor, such as machine- hours, beds occupied, computer time, or flight- hours, that causes overhead costs Cost of goods manufactured - ANS ...
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Managerial Accounting Exam Questions And Answers
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Why could overhead costs be different for product? - ANS Size/number batches could be very different, one is much more complex to make, one may be newer, need more quality control. External Failure costs - ANS includes product recalls, warranty costs, and legal fees. Value Engi...
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Add to cartWhy could overhead costs be different for product? - ANS Size/number batches could be very different, one is much more complex to make, one may be newer, need more quality control. External Failure costs - ANS includes product recalls, warranty costs, and legal fees. Value Engi...
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Managerial Accounting Chapter 1 Questions And Answers
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Budget - ANS A detailed plan for the future that is usually expressed in formal quantitive term Business process - ANS A series of steps that are followed in order to carry out some task in a business. Constraint - ANS Everything that prevents you from getting more of w...
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Add to cartBudget - ANS A detailed plan for the future that is usually expressed in formal quantitive term Business process - ANS A series of steps that are followed in order to carry out some task in a business. Constraint - ANS Everything that prevents you from getting more of w...
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Chapter 1 Managerial Accounting and Cost Concepts Questions And Answers
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Raw Materials - ANS materials that go into the final product; the finished product of one company can become the raw materials of another company; MAY INCLUDE DIRECT AND INDIRECT MATERIALS Direct Materials - ANS those materials that become a integral part of the finished product a...
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Add to cartRaw Materials - ANS materials that go into the final product; the finished product of one company can become the raw materials of another company; MAY INCLUDE DIRECT AND INDIRECT MATERIALS Direct Materials - ANS those materials that become a integral part of the finished product a...
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