Which of the following statements accurately describes the basis of activity-based costing?
A) Activities simply sustain a facility's general manufacturing process.
B) Activities refer to batch-level costs incurred to support the production of each different type of product.
C) Activities consume facility-level costs.
D) Activities consume resources and products consume activities.
D
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The group within an organization that is responsible for monitoring and evaluating the internal control system is called:
a. the audit committee. b. the internal audit staff. c. the board of directors. d. the accounting staff.
Typically a systems analysis
a. results in a formal project schedule b. does not include a review of the current system c. identifies user needs and specifies system requirements d. is performed by the internal auditor
Martin Company purchases a machine at the beginning of the year at a cost of $60,000. The machine is depreciated using the straight-line method. The machine's useful life is estimated to be 4 years with a $5,000 salvage value. Depreciation expense in year 4 is:
A. $0. B. $55,000. C. $13,750. D. $15,000. E. $60,000.
Basically a phenomenon of the union sector, two-tier wage structures differentiate pay based upon the
A. hiring date. B. type of work. C. length of contract, if applicable. D. place of work.