Understanding Key Managerial Accounting Concepts1.(TCO 1) The principle managers follow when they only investigate significant departures from the plan iscommonly known as(Points : 4)small amounts don't matteronly materials and labor deserve attentionmanagement by exceptionexceptional costs yield exception results2.(TCO 1) A company has a cost that is $2.00 per unit at a volume of 12,000 units and $2.00 per unit at a volumeof 16,000 units. What type of cost is this?(Points : 4)FixedVariableSunkIncremental3.(TCO 2) A job-order costing system is likely used by a(Points : 4)soft drink bottlerbreakfast cereal manufacturerpaint manufacturercustom home builder4.(TCO 3) Why do we compute equivalent units differently for raw materials and conversion costs?(Points : 4)Raw materials are more difficult to countConversion costs are more difficult to countThey are introduced into the process at different timesPreview Mode
This document has 10 pages. Sign in to access the full document!