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Problem Match The Appropriate Terms With Statements. A. Absorption Costing B. Contribution Margin C. ...

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Question: Match the appropriate terms with statements. A. Absorption costing B. contribution margin &n...

Match the appropriate terms with statements.

A. Absorption costing B. contribution margin   C. External reporting      D. fixed overhead  E. Full costing F. Internal reporting G. period costs   H. product costs   I. Traditional J. variable costing k. Ability to bear approach L. Activity based costing M. cause and effect relationship N. Cost Allocation E. Cost Driver P Cost -plus contract Q. Direct method R. non controllable costs S. Relative benefits approach T. Unitized fixed costs U. activity- based management V. Arbitrary allocation W. controllable cost X. Cost-benefit decision Y. Cost Objective Z. Cost pool. AA. Equity approach BB. Lump-sum allocation CC. Responsibility accounting DD. Volume-related base

1. Is another name for full costing

2. Treats fixed overhead as a product cost

3. is the income statement format used with variable costing

4. selling and administrative expenses

5. variable costing can only be used for this type of reporting

6. Is considered a period cost under variable costing

7. Direct materials + direct labor+ variable overhead

8. Can only be used for internal reporting purposes.

9. full costing must be used for this type of reporting

10. is the income statement format used wit full costing

11. An approach that allocates cost to the cost objectives that benefit most from incurring the cost.

12. Cost that a manager cannot influence.

13. Used to measure an activity.

14. An approach that allocates more cost to the cost objectives that generate the most profit.

15. Payment includes production costs plus a specified percentage of cost.

16. What should exist between the allocation base and the costs to be allocated.

17. when fixed costs appear to behave like a variable costs.

18. a method used to allocate service department costs to production departments.

19. Focuses on activities with the goal of measuring the costs of products and services produced by them.

20. Assigning indirect costs to some cost objective.

21. Focuses on way to improve the efficiency and effectiveness of activities.

22. The product, service, or department that is to receive an allocation.

23. Direct labor hours or machine hours.

24. A group of similar or homogenous costs

25. an allocation that a manager feels is unjustified

26. allocation based on the long-run needs of users

27. An allocation that is perceived as being fair

28. Costs that a manger should be evaluated on.

29. A consideration that needs to be made when deciding how many cost pools are appropriate.

30. When performance evaluation is based on the revenues and costs a manager can influence.

Answer 1

1. Is another name for full costing	Absorption costing
2. Treats fixed overhead as a product cost	Traditional
3. is the income statement format used with variable costing	Variable costing
4. selling and administrative expenses	Controllable cost
5. variable costing can only be used for this type of reporting	Internal reporting
6. Is considered a period cost under variable costing	product costs
7. Direct materials + direct labor+ variable overhead	Contribution margin
8. Can only be used for internal reporting purposes.	Contribution margin
9. full costing must be used for this type of reporting	External reporting
10. is the income statement format used with full costing	Full costing
11. An approach that allocates cost to the cost objectives that benefit most from incurring the cost.	Activity based costing
12. Cost that a manager cannot influence.	Non controllable costs
13. Used to measure an activity.	Relative benefits approach
14. An approach that allocates more cost to the cost objectives that generate the most profit.	Ability to bear approach
15. Payment includes production costs plus a specified percentage of cost.	Cost -plus contract
16. What should exist between the allocation base and the costs to be allocated.	Cause and effect relationship
17. when fixed costs appear to behave like a variable costs.	Unitized fixed costs
18. a method used to allocate service department costs to production departments.	Direct method
19. Focuses on activities with the goal of measuring the costs of products and services produced by them.	Arbitrary allocation
20. Assigning indirect costs to some cost objective.	Cost Allocation
21. Focuses on way to improve the efficiency and effectiveness of activities.	Activity- based management V
22. The product, service, or department that is to receive an allocation.	Cost Objective
23. Direct labor hours or machine hours.	Cost Driver
24. A group of similar or homogenous costs	Cost pool
25. an allocation that a manager feels is unjustified	Lump-sum allocation
26. allocation based on the long-run needs of users	Period costs
27. An allocation that is perceived as being fair	Equity approach
28. Costs that a manager should be evaluated on.	Responsibility accounting
29. A consideration that needs to be made when deciding how many cost pools are appropriate.	Volume-related base
30. When performance evaluation is based on the revenues and costs a manager can influence.	Cost-benefit decision