1.ATB Pty Ltd is one of the largest companies in mining industry. Which of the following is an example of ‘planning’?
Select one:
a.Creating operation targets for the firm’s brand-new mines.
b.Taking legal actions to protect the mining areas from invasion of environmental activists.
c.Making corrective actions to respond to lower-than-expected production levels in the existing mines.
d.Setting and presenting bonuses to ATB Pty Ltd’s top performing executives.
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2.What is an example of a discretionary cost for a furniture manufacturer?
Select one:
a.screws and glue.
b.research cost of a new product.
c.wages of assemblers.
d.processed wood.
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3.Within the relevant range of an activity in a business:
Select one:
a.management may find it unimportant to consider the related costs.
b.variable costs per unit remain unchanged.
c.the firm may not be operated normally.
d.the expected costs exceed the benefits from the activity.
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4.On the debit side of the manufacturing overhead account, we will record:
Select one:
a.Actual manufacturing overhead costs incurred in the period and over-applied manufacturing overhead for the period.
b.Actual manufacturing overhead costs incurred in the accounting period.
c.Applied manufacturing overhead applied to operation activities.
d.Over-applied manufacturing overhead for the period.
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