Project audits are performed on all significant projects and lessons learned are recorded and used on subsequent projects in which of the following Project Management Maturity Model Levels?
A. Ad hoc project management
B. Formal application of project management
C. Institutionalization of project management
D. Management of project management system
E. Optimization of project management system
Answer: D
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Why is it important for an organization's top officials to demonstrate ethical leadership?
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Which of the following statements about similarities between process costing and job-order costing are true?I.Both systems assign production costs to units of output. II.Both systems require extensive knowledge of financial accounting. III.The flow of costs through the manufacturing accounts is essentially the same.
A. I only. B. I and III. C. II and III. D. III only. E. I, II, and III.
Identify five companies that in your opinion have kept pace with time as evidenced by their performance.
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Goertz Corporation has an activity-based costing system with three activity cost pools--Machining, Order Filling, and Other. In the first stage allocations, costs in the two overhead accounts, equipment depreciation and supervisory expense, are allocated to the three activity cost pools based on resource consumption. Data used in the first stage allocations follow: Overhead costs: Equipment depreciation$51,000Supervisory expense$3,000 Distribution of Resource Consumption Across Activity Cost Pools: Activity Cost Pools MachiningOrder FillingOtherEquipment depreciation0.400.100.50Supervisory expense0.200.300.50 Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The costs in the Other activity
cost pool are not assigned to products. Activity data for the company's two products follow: Activity: MHs (Machining)Orders (Order Filling)Product J39,100100Product F7900900Total10,0001,000 Finally, the costs of Machining and Order Filling are combined with the following sales and direct cost data to determine product margins. Sales and Direct Cost Data: Product J3Product F7Sales (total)$145,200$90,700Direct materials (total)$81,400$38,600Direct labor (total)$37,700$42,400 The activity rate for the Order Filling activity cost pool under activity-based costing is closest to: A. $6.00 per order B. $3.00 per order C. $54.00 per order D. $3.33 per order