Questions from Cost Accounting

Q: The balanced scorecard describes all of the following except which one?

The balanced scorecard describes all of the following except which one? a. The descriptions of critical initiatives for the organization’s performance. b. The strategic goals. c. The related measures...

Q: Canarsie Corporation uses a balanced scorecard to evaluate its digital camera manufacturing

Canarsie Corporation uses a balanced scorecard to evaluate its digital camera manufacturing operation. Which of the following statements with respect to balanced scorecards is/are correct? I. A balanc...

Q: Which of the following statements regarding price elasticity is incorrect?

Which of the following statements regarding price elasticity is incorrect? a. A product with a perfectly inelastic demand would have the same demand even as prices change. b. A product with a perfectl...

Q: The actual contribution margin per unit will impact the following sales variance

The actual contribution margin per unit will impact the following sales variance: a. Flexible-budget variance b. Market-size variance c. Market-share variance. d. Sales-quantity variance

Q: The University of Chicago Press is wholly owned by the university.

The University of Chicago Press is wholly owned by the university. It performs the bulk of its work for other university departments, which pay as though the press were an outside business enterprise....

Q: Lexota, Inc., an auto manufacturer, reported the following budgeted

Lexota, Inc., an auto manufacturer, reported the following budgeted and actual sales of its vehicles during September, Year 2: The budgeted contribution margin is 20% for both vehicle types. Which of...

Q: Select Manufacturing Co. produces three joint products and one organic waste

Select Manufacturing Co. produces three joint products and one organic waste byproduct. Assuming the byproduct can be sold to an outside party, what is the correct accounting treatment of the byproduc...

Q: Joint costs of $8,000 are incurred to process X

Joint costs of $8,000 are incurred to process X and Y. Upon splitoff, $4,000 and $6,000 in costs are incurred to produce 200 units of X and 150 units of Y, respectively. In order to justify processing...

Q: Houston Corporation has two products, Astros and Texans, with the

Houston Corporation has two products, Astros and Texans, with the following volume information: Volume Product Astros……. 20,000 gal Product Texans………………..10,000 gal Total………………………………. 30,000 gal The j...

Q: Dallas Company produces joint products, TomL and JimmyJ, each of

Dallas Company produces joint products, TomL and JimmyJ, each of which incurs separable production costs after the splitoff point. Information concerning a batch produced at a $200,000 joint cost befo...