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Accounting 301: Applied Managerial Accounting  /  Business Courses

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Activity-Based Costing Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. Which of the following are examples of the risk involved in using Just in Time inventory?

Question 2 2. What is manufacturing overhead?

Question 3 3. Which of the following is NOT a step in analyzing a cost driver?

Question 4 4. Marissa manufactures porcelain figures. The raw materials are inexpensive and do not spoil so she purchases a year supply in advance. How will the switch to JIT inventory help Marissa's business?

Question 5 5. How does the Just in Time inventory strategy affect the production flow?

Page 2

Question 6 6. What is product costing?

Question 7 7. Which of the following is NOT an example of a cost driver?

Question 8 8. Why is JIT inventory effective?

Question 9 9. What is the first step in analyzing a cost driver?

Question 10 10. If the cost-pool for labor has a total of $125,000 and the driver for that pool is 45,000 labor-hours, what is the activity-based costing rate for labor?

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Question 11 11. What is a cost pool?

Question 12 12. Just in Time (JIT) inventory has which of the following objectives?

Question 13 13. What is the difference between traditional costing and activity-based costing systems?

Question 14 14. A cost driver is defined as:

Question 15 15. What happens during the wrap-up step when analyzing a cost driver?

Activity-Based Costing Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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