Questions from Cost Accounting


Q: Where does the management accounting function fit into an organization’s structure?

Where does the management accounting function fit into an organization’s structure?

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Q: Define product cost. Describe three different purposes for computing product costs

Define product cost. Describe three different purposes for computing product costs.

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Q: What are three common features of cost accounting and cost management?

What are three common features of cost accounting and cost management?

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Q: How can a company with multiple products compute its breakeven point?

How can a company with multiple products compute its breakeven point?

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Q: In CVP analysis, gross margin is a less-useful concept

In CVP analysis, gross margin is a less-useful concept than contribution margin.” Do you agree? Explain briefly.

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Q: Describe two ways in which a house-construction company may use

Describe two ways in which a house-construction company may use job-cost information.

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Q: When might a company use budgeted costs rather than actual costs to

When might a company use budgeted costs rather than actual costs to compute direct-labor rates?

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Q: Describe briefly why Electronic Data Interchange (EDI) is helpful to

Describe briefly why Electronic Data Interchange (EDI) is helpful to managers.

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Q: Fill in the blanks for each of the following independent cases.

Fill in the blanks for each of the following independent cases.

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Q: ABC systems only apply to manufacturing companies.” Do you agree?

ABC systems only apply to manufacturing companies.” Do you agree? Explain.

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