GCU ACC650 quiz 3

GCU ACC650 quiz 3

GCU ACC650 quiz 3

Question

• Which of
the following cost drivers would best be associated with the activity of
physician time in a medical clinic?

The number of accreditations held by the clinic.

Physician minutes with a patient.

Number of new patient visits.

Number of line items on the clinic’s bill.

Number of continuing patient visits.

• Magnolia
Industries combines all manufacturing overhead into a single cost pool and
allocates this overhead to products by using machine hours. Activity-based
costing would likely show that with Magnolia’s current procedures that:

all of the company’s products are overcosted.

all of the company’s products are undercosted.

the company’s high-volume products are undercosted.

the company’s high-volume products are overcosted.

the company’s low-volume products are overcosted.

• When
determining customer profitability, activity-based costing can be used to
analyze:

All of the answers are correct.

special packaging and handling.

sales visits.

orders processed.

billing and collections.

• Baxter
customer service department follows up on customer complaints by telephone
inquiry. During a recent period, the department initiated 10,000 calls and
incurred costs of $312,000. Of these calls, 3,800 were for the company’s
wholesale operation; the remainder was for the retail division. Costs allocated
to the retail division are:

$203,000.

$31,200.

$193,440.

$118,560.

$0.

• Which of
the following is not a broad, cost classification category typically used in
activity-based costing?

Product-sustaining level.

Batch-level.

Unit-level.

Management-level.

Facility-level.

• The
following tasks are associated with an activity-based costing system:

1— Assignment of cost to products

2— Calculation of pool rates

3— Identification of cost drivers

4— Identification of cost pools

Which of the following choices correctly expresses the
proper order of the preceding tasks?

4, 2, 1, 3.

4, 3, 2, 1.

1, 2, 3, 4.

2, 4, 1, 3.

3, 4, 2, 1.

• Flavorful
Manufacturing sells a number of goods whose selling price is heavily influenced
by cost. A recent study of product no. 519 revealed a traditionally-derived
total cost of $1,019, a selling price of $1,850 based on that figure, and a
newly computed activity-based total cost of $1,215. Which of the following
statements is true?

All other things being equal, the company should consider a
drop in its sales price.

The company may have been extremely competitive in the
marketplace from a price perspective.

Product no. 519 could be labeled as being overcosted by the
firm’s traditional costing procedures.

If product no. 519 is undercosted by traditional accounting
procedures, then all of the company’s other products must be undercosted as
well.

Generally speaking, the activity-based cost figure is
“less accurate” than the traditionally-derived cost figure.

• A
hospital administrator is in the process of implementing an
activity-based-costing system. Which of the following tasks would not be part
of this process?

None of the answers is correct.

Assignment of cost to services provided.

Calculation of pool rates.

Identification of cost pools.

Identification of cost drivers.

• Successful
adoptions of activity-based costing typically occur when companies rely heavily
on:

manufacturing personnel.

office personnel.

finance personnel.

accounting personnel.

multidisciplinary project teams.

• Generally
speaking, companies prefer doing business with customers who:

often change their orders.

request normal delivery times.

require special packaging or handling.

order small quantities rather than large quantities.

need specialized engineering design changes.

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GCU ACC650 quiz 3

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