35. Which of the following is not one of the four stepsin accounting for production activity and assigning costs during aperiod under a process cost system?A. Determine over or underapplied overhead.B. Determine the physical flow of units.C. Compute the equivalent units of production.D. Compute the cost per equivalent unit of production.E. Assign and reconcile costs.
61. The cost object(s) of the departmental overhead rate methodis:A. The unit of product.B. The production departments of the company.C. The production departments in the first stageand the unit of product in the second stage.D. The unit of product in the first stage and the productiondepartments in the second stage.E. The production activities of the company.
62. Which of the following statements is true with regard to thedepartmental overhead rate method?A. It is logical to use this method when overhead resources areconsumed by various products in substantially the same waythroughout multiple departments.B. It is logical to use this method when overheadresources are consumed by various products in substantiallydifferent ways throughout multiple departments.C. Each department has the same rate for the same activitypool.D. It requires one overhead cost pool and one rate.E. It is synonymous with activity-based costing.
63. The cost object(s) of the activity-based costing methodis(are):A. The unit of product.B. The production departments of the company.C. The production activities of the company.D. The production activities in the first stageand the unit of product in the second stage.E. The unit of product in the first stage and the productionactivities in the second stage.
64. From an ABC perspective, what causes costs to beincurred?A. Financial transactions.B. The volume of units produced.C. Debits and credits.D. Management decisions.E. Activities.
65. Which of the following statements is true with regard toactivity-based costing rates?A. The premise of ABC is that activities are whatcause costs to be incurred.B. ABC is another way to refer to a multiple departmental ratesituation.C. There one basic stage to ABC.D. ABC is simpler and less expensive to implement than othertraditional methods of allocating overhead costs.E. All cost drivers used to determine the rates will be unit-leveldrivers.
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