Questions from Managerial Accounting

Q: What is a production report? What purpose does this report serve

What is a production report? What purpose does this report serve?

Q: What is cycle time? Velocity?

What is cycle time? Velocity?

Q: Describe the two-stage process for departmental overhead rates.

Describe the two-stage process for departmental overhead rates.

Q: What are nonunit-level overhead activities? Nonunit-based cost

What are nonunit-level overhead activities? Nonunit-based cost drivers? Give some examples.

Q: What is meant by ‘‘product diversity’’?

What is meant by ‘‘product diversity’’?

Q: What is an overhead consumption ratio?

What is an overhead consumption ratio?

Q: What is activity-based product costing?

What is activity-based product costing?

Q: What is an activity dictionary?

What is an activity dictionary?

Q: Explain how costs are assigned to activities.

Explain how costs are assigned to activities.

Q: Describe the value of activity-based customer costing.

Describe the value of activity-based customer costing.