Managerial and Job Costing Fundamentals

Company HicoDressers has the following budgeted data for its two production departments:

Identify the cost for the Machine and Utilities Cost Pool

Company HicoDressers has the following budgeted data for its two production departments:

What is the cost driver for Supervisory and HR Overhead?

Company HicoDressers has the following budgeted data for its two production departments:

What is the budget activity for Machine and Utilities Overhead?

Company HicoDressers has the following budgeted data for its two production departments:

Given this information what is the cost driver rate for Machine and Utilities Overhead?

Company HicoDressers has the following budgeted data for its two production departments:

What is the Total Overhead for the Finishing Department?

Company HicoDressers has the following budgeted data for its two production departments:

What is the Total Overhead for the Assembly Department?

What is the primary difference between financial and managerial accounting?

• Financial accounting focuses on internal reporting; managerial accounting focuses on external reporting.

• Financial accounting focuses on external reporting; managerial accounting focuses on internal reporting.

• Both focus on external reporting.

• Both focus on internal reporting.

• None of these.

Which of the following is considered a period cost?

• Direct materials

• Factory supervisor salary

• Cost of advertising and marketing

• Direct labor

• None of these.

Which inventory type includes products ready for sale in a manufacturing firm?

• Finished Goods

• Manufacturing overhead

• Cost of advertising and marketing

• Indirect Materials

• Work in Process

In a manufacturing firm, depreciation on manufacturing equipment is classified as:

• Direct labor

• Direct materials

• Manufacturing overhead

• Period cost

• All of these