Question 1: What is the key formula for cost accounting?

Group of answer choices

(1) Number of Units x Total = Per Unit

(2) Number of Units x Per Unit = Total

(3) Per Unit x Per Unit = Total

(4) Principal x Rate = Interest

Question 2: The three components in a manufactured product are:

Group of answer choices

(1) Raw Materials, Payroll, Factory Overhead

(2) Raw Materials. Direct Labor, Supervisors

(3) Raw Materials, Direct Labor, Factory Overhead

(4) Raw Materials, Direct Labor, Indirect Labor

Question 3: The basic formula for calculating factory overhead application rates is:

Group of answer choices

(1) Number of Units x Per Unit = Total

(2) Total Estimated Factory Overhead Dollars / Estimated Number of Units = Per Unit Application Rate

(3) Principal x Rate = Interest

(4) Total Estimated Factory Overhead in Units / Estimated Number of Units = Per Unit

Question 4: Dr. Demings' Philosophy of Quality Improvement is based on the idea that the __________ is the most important thing to improve quality.

Group of answer choices

(1) Profit

(2) Process

(3) People