Cost Accounting
15th Edition
ISBN: 9780133428834
Author: Horngren
Publisher: PEARSON
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Textbook Question
Chapter 20, Problem 20.9Q
What are three factors causing reductions in the cost to place purchase orders for materials?
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Which of the following correctly describes the term cost driver?
a.The primary factor which is correlated with the amount of cost incurred to produce a product
b.The total material, labor, and overhead cost of a completed job
c.The inflation rate which causes costs to rise
d.The initial purchase price of direct materials
Which of the following would be included in the cost of a product manufactured according to variable costing?
a.direct materials
b.sales commissions
c.interest expense
d.office supply costs
What modifications are made to the cost classification of product costs in estimating service costs?
Chapter 20 Solutions
Cost Accounting
Ch. 20 - Why do better decisions regarding the purchasing...Ch. 20 - Name six cost categories that are important in...Ch. 20 - What assumptions are made when using the simplest...Ch. 20 - Give examples of costs included in annual carrying...Ch. 20 - Give three examples of opportunity costs that...Ch. 20 - What are the steps in computing the cost of a...Ch. 20 - Why might goal-congruence issues arise when...Ch. 20 - JIT purchasing has many benefits but also some...Ch. 20 - What are three factors causing reductions in the...Ch. 20 - You should always choose the supplier who offers...
Ch. 20 - Prob. 20.11QCh. 20 - What are the main features of JIT production, and...Ch. 20 - Distinguish inventory-costing systems using...Ch. 20 - Describe three different versions of backflush...Ch. 20 - Discuss the differences between lean accounting...Ch. 20 - Prob. 20.16ECh. 20 - Prob. 20.17ECh. 20 - Prob. 20.18ECh. 20 - Prob. 20.19ECh. 20 - Prob. 20.20ECh. 20 - Prob. 20.21ECh. 20 - Prob. 20.22ECh. 20 - Prob. 20.23ECh. 20 - Prob. 20.24ECh. 20 - Prob. 20.25PCh. 20 - Prob. 20.26PCh. 20 - Prob. 20.27PCh. 20 - Prob. 20.28PCh. 20 - Prob. 20.29PCh. 20 - Supply-chain effects on total relevant inventory...Ch. 20 - Prob. 20.31PCh. 20 - Prob. 20.32PCh. 20 - Prob. 20.33PCh. 20 - Prob. 20.34PCh. 20 - Lean accounting. Reliable Security Devices (RSD)...Ch. 20 - Prob. 20.36P
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Which of the following is a conversion cost? A. raw materials B. direct labor C. sales commissions D. direct material usedarrow_forwardWhen might activity-based costing be preferred over using a relative amount of product sales in allocating selling and administrative expenses to products?arrow_forwardHow can there be a different number of equivalent units for materials as compared to conversion costs?arrow_forward
- What are the similarities in calculating the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold?arrow_forwardWith nonuniform inputs, the cost of EWIP is calculated by a. adding the materials cost to the conversion cost. b. subtracting the cost of goods transferred out from the total cost of materials. c. multiplying the unit cost in each input category by the equivalent units of each input found in EWIP. d. multiplying the total unit cost by the units in EWIP. e. None of these.arrow_forwardDescribe the product life cycle. How do unit-level costs behave in relation to the product life cycle? Batch-level costs? Product-level costs? Facility-level costs?arrow_forward
- Which is not a step in analyzing the cost driver for manufacturing overhead? A. Identify the cost B. identify non-value-added costs C. analyze the effect on manufacturing overhead D. identify the correlation between the potential driver and manufacturing overheadarrow_forwardWhat advantage does the FIFO cost method have over the average cost method relative to providing information for cost control?arrow_forwardUsing the costs listed in the previous problem, classify the costs as either product costs or period costs.arrow_forward
- For which cost concept used in applying (he cost-plus, approach to product pricing are fixed manufacturing costs, fixed selling and administrative expenses, and desired profit allowed for in determining the markup? A. Total cost B. Product cost C. Variable cost D. Standard costarrow_forwardWhich of the following is not considered a product cost? A. direct materials B. direct labor C. indirect materials D. selling expensearrow_forwardWhy are product costs assigned to the product and period costs immediately expensed?arrow_forward
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