9. Question:( TCO 5) Which of the following is treated as a product cost in variable costing?
10. Question:( TCO 5) If the number of units sold is less than the number of units produced
11. Question:( TCO 6) A contract which specifies that the suppler will be paid for the cost of production as well as some fixed amount or percentage of cost is called a( n)
12. Question:( TCO 6) Which of the following is not generally true when a company compares ABC and traditional costing?
13. Question:( TCO 7) Fixed costs that will be eliminated if a particular course of action is undertaken are called
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1. Question:( TCO 7) Common costs
2. Question:( TCO 8) Target costing
3. Question:( TCO 8) Which of the following are relevant in deciding whether to accept or reject a special order?
4. Question:( TCO 9) Present value techniques
5. Question:( TCO 9) The internal rate of return
6. Question:( TCO 10) A method of budget preparation that requires all budgeted amounts to be justified by the department, even if the amounts were supported in prior periods, is called
7. Question:( TCO 10) Which budget is prepared first?
8. Question:( TCO 10) The standard cost is
9. Question:( TCO 10) In general, an unfavorable material variance arises from
10. Question:( TCO 10) The type of center that has responsibility for generating revenue as well as controlling costs is a( n)
11. Question:( TCO 10) Responsibility accounting holds managers responsible for
12. Question:( TCO 10) Which ratio measures the rate earned on total capital provided by the owners?
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1. Question:( TCO 1) Distinguish managerial accounting from financial accounting. Include a brief discussion of the differences in the types of information provided to users as well as the differences of the users of the accounting information.
2. Question:( TCO 6) Booth Financial Services, LLC has two revenue producing departments, Financial Planning and Business Consulting. The accounting department is trying to determine the best method