Fun Trivia!
Miley Cyrus was on this show with Emily Osment
Hannah Montana
Total manufacturing cost= DM + ____+ ______
Direct Labor, MOH
The objective of financial accounting is to provide decision-useful information to ______ parties
external
_____ costing is used for homogenous goods and services
Activity Measure
Where your food goes after you swallow
esophagus
The cost of not doing something is a(n)
opportunity cost
The four financial statements are balance sheet, ______, statement of cash flows, and statement of stockholder's equity
income statement
The two acceptable costing methods used for process costing
FIFO, Weighted Average
ABC costing is a method of assigning ______ costs to products and services based on the activities they require
indirect
Trombone,French Horn,Tuba, Baritone, Trumpet are all that kind of instrument
Brass
______ costs are comprised of direct labor and manufacturing overhead
Conversion
______ increase in net assets as a result of sales over a particular interval of time
revenues
POHR is based on ______ values
estimates, estimated
The first step in ABC Costing
to identify and classify activities
The process plants go through to make their own food
Photosynthesis
Fixed costs vary _____ with level of production on a per unit basis
inversely
Managerial accounting focuses on projecting ____ operations. Financial accounting focuses on reporting _______ operations
future, past
Beginning inventory + ________= Ending Inventory + Units transferred out
Units started
Product design and engineering changes are examples of ______ level activities
product
A planet that can float
Saturn
Variable costs are ________ on a per unit basis
fixed
Financial accounting is bound by ______
Formula for equivalent units of production
equivalent units of production= units completed and transferred out + units left in ending inventory (% completion)
Plant depreciation and human resources are examples of _____ level activities
Facility