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Question
Match the appropriate definition a through h with the following terms:| 1) Cost pool |
| 2) Cost driver |
| 3) Cost center |
| 4) Performance report |
| 5) Profit center |
| 6) Responsibility accounting system |
| 7) Investment center |
| 8) Departmental contribution to overhead |
A) A center whose manager is responsible for using the center's assets to generate income for the center.
B) Compares actual and budgeted costs and expenses under the control of a manager.
C) A department whose manager is judged on the ability to control costs by keeping them within a satisfactory range.
D) Departmental sales in excess of its direct costs and expenses.
E) A factor that causes the cost of an activity to go up and down.
F) A department whose manager is judged on the ability to generate revenues in excess of the department's costs.
G) A temporary account accumulating the costs a company incurs to support an identified set of activities.
H) Provides information that management can use to evaluate the performance of a department's managers.
Answer
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The predetermined overhead allocation rate is used to apply overhead cost to products.
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