A+ ANSWERS OF THE FOLLOWING QUESTIONS

1. It’s sometimes permissible to eat _______ with your fingers.
A. hot dogs
B. fried clams
C. asparagus
D. soft-boiled eggs

2. The accepted way to eat caviar is to
A. place a small spoonful directly onto a toast wedge.
B. mix it with an equal part of mayonnaise and spread it on bread.
C. spread it evenly over pasta or potatoes.
D. place a small spoonful of caviar on your plate.

3. A bureaucratic management style doesn’t work well in the catering business because
A. clients like to be treated autocratically.
B. it requires employees to make too many independent decisions.
C. catering requires a predetermined set of rules and procedures.
D. catering is too dynamic to go by the book.

1. Which of the following costs is not included in factory overhead? (Points : 5)
Payroll taxes on the wages of supervisory
factory workers
Indirect labor
Manufacturing supplies used
Direct materials

2. Job cost sheets can provide information to managers for all but the following: (Points : 5)
cost impact of materials changes
cost impact of continuous improvement in the manufacturing process
cost impact of materials price or direct labor rate changes over time
utilities, managerial salaries, and depreciation of computers in the corporate office

3. Which of the following is not a characteristic of a process cost system? (Points : 5)
Manufacturing costs are grouped by departments.
The system may use several Work-in-Process accounts.
The system measures costs for each completed job.
The system allocates costs between completed and partially
completed units within a department.

 

1. The production activities for a customized product represent a(n): (Points : 5)
Job
Unit
Pool
Process

2. Which of the following would most likely use a process cost system? (Points : 5)
Guitar manufacturer
Paint manufacturer
Custom furniture manufacturer
Tax consulting company

3. A job cost sheet includes (Points : 5)
Direct materials, direct labor, operating costs.
Direct materials, overhead, administrative costs
Direct labor, overhead, selling costs
Direct material, direct labor, overhead

4. The production activities for a customized product represent a(n): (Points : 5)
Operation
Job
Pool
Process

1. Compare and contrast MACRS depreciation guidelines with the limitations on Listed Property.

2. Discuss whether bonus depreciation is appropriate and/or meets the intended economic goals of the provision.

Answers

1. Compare and contrast MACRS depreciation guidelines with the limitations on Listed Property.

 

2. Discuss whether bonus depreciation is appropriate and/or meets the intended economic goals of the provision.

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