1. Question : Regression analysis does not assume a

Student Answer:

linear relationship between the dependent and independent

variables(s).

normal distribution of the actual values (y) around the

predicting equation (y').

constant variance for the independent error terms (e) from

the predicting equation.

logical and causal relationship between the dependent and

independent variable(s).

Student Answer:

$160,000

$180,000

$175,000

$150,000

Student Answer:

$1,000.

$1,600.

$2,000.

$4,000.

$5,000.

4. Question : Which of the following statements regarding special orders is

(are) true?

(A) The primary decision for special orders is determining

whether the differential revenue is greater than the differential

costs associated with the order.

(B) The differential analysis approach to pricing for special

orders could lead to underpricing in the long-run because fixed

costs are not included in the analysis.

Student Answer:

only A.

only B.

neither A nor B is false.

both A and B are true.

5. Question : A company is considering the use of a single-stage cost

allocation process. Under what conditions would this choice be

justified?

Student Answer:

The company has many service departments but only one

production department.

The company produces a few products with similar

characteristics in a few departments.

The company has no service departments but many

production departments.

The company produces a wide selection of products in a

single production department.

6. Question : The statistic used to determine if the total cost function is

significantly different from the fixed cost function is the

Student Answer:

t-value of the b-coefficient.

coefficient of determination.

standard error of the estimate.

coefficient of correlation.

standard error of the a-coefficient.

7. Question : The loan department of a financial corporation makes loans to

businesses. The costs of processing these loans are often

several thousand dollars. All loans are initially evaluated using

the same financial analysis software, but some require outside

services such as appraisals and legal services. Which is the most

appropriate costing system for the loan department?

Student Answer:

job-order costing

process costing

operation costing

batch costing

8. Question : Mount Company incurred a total cost of $8,600 to produce 400

units of pulp. Each unit of pulp required five (5) direct labor

hours to complete. What is the total fixed cost if the variable

cost was $1.50 per direct labor hour?

Student Answer:

$1,700

$3,000

$5,600

$8,000

9. Question : In a labor intensive company in which more overhead is used

by the more highly skilled and paid employees, which activity

base would be most appropriate for applying overhead to

production?

Student Answer:

Direct labor cost.

Direct material cost.

Direct labor hours.

Machine hours.

Sales value of the product produced.

10. Question : Which of the following statements about the theory of

constraints is (are) true?

(A) The theory of constraints focuses on determining the

optimal product mix when one or more resources restrict the

attainment of a goal or objective.

(B) The theory of constraints focuses on maximizing the rate of

throughput contribution while minimizing investment and

other operating costs.

Student Answer:

only A.

only B.

neither A nor B is true.

both A and B are true.

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November 29, 2021

November 29, 2021