1-In using the budget for performance evaluation, accountants compare actual res

Question

1-In using the budget for performance evaluation, accountants compare actual results achieved with budgets to derive a. flexible budgets. b. variances. c. master budgets. d. delta(s).

2- Activity-based costing assigns more costs to items produced in __________ than traditional methods do. a. large runs b. extra large runs c. small runs d. medium run

3- Which of the following are not examples of non-value-added costs? a. Waiting for work b. Production c. Storage d. Moving items

4- Traditional managerial accounting systems need to be modified to support total quality management by a. reporting financial and nonfinancial information in more detail to aid in problem solving. b. having line employees collect financial and nonfinancial information and use it to get timely feedback and solve problems. c. basing rewards on quality and customer satisfaction measures of performance. d. All of the answers are correct.

Explanation / Answer

1) b)

2) c)

3) b)

4) d)

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