12 is a group of individual costs that is allocated to cost objectives using a s

Question

12 is a group of individual costs that is allocated to cost objectives using a single cost driver a, A cost allocation base b. A cost pool c. A joint cost d. A by-product 13 The process of comparing actual results with plans and taking corrective action, where necessary, is called a. planning b. budgeting e. controlling d, none of the above 1 4 | ?(n) is the expected cost of producing one unit. It is in effect a budget for one unit. a. actual cost b, standard cost c, variance d. prime cost 15 Which of the following statements about activity-based costing is FALSE? a. b. e. d. It promotes cost control Indirect cost allocation bases are likely to be cost drivers It provides less information than prior cost systems It provides more accurate product costs

Explanation / Answer

Question 12 - The Answer is B - "Cost Pool"

A Cost Pool Is a group of individual costs that is allocated to cost objectives using a single cost driver

Question 13 - The Answer is - C - "Controlling"

The process of comparing actual results with plans and taking corrective actions where neessary is called "Controlling"

Question 14 - The Answer is B - " Standard Cost"

A Standard cost Is the expected cost of producing one unit. It is in effect a budget for one unit

Question 15 - The Answer is C - "It provides less informations than prior cost systems"

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