A subsystem of the accounting information system designed to satisfy costing, controlling and decision making objectives is called the __________ system.

FIFO follows the __________ principle.

Before opting to use managerial judgment, management should make sure that each cost is predominantly fixed or variable.

Enterprise resource planning (ERP) software has the objective of providing an integrated system capability and is able to run all the operations of a company.

An accounting information system collects, records, summarizes, analyzes, and manages data to transform inputs into information that is provided to users.

Factors that have led to a global market for manufacturing and service firms are

A smaller standard error indicates that:

A traditional cost accounting system assumes that all costs can be classified as fixed with respect to changes in the units or volume produced.

Cost management systems are made up of two subsystems: the __________ accounting system and the __________ control system.

Bienvenue, Inc., has identified the following overhead costs and activity drivers for next year:     Expected       Expected   Overhead Item Cost Activity Driver Quantity Setup costs $100,000 Number of setups    500 Ordering costs    40,000 Number of orders  3,200 Maintenance  200,000 Machine hours  4,000 Power   20,000 Kilowatt hours 80,000 ​ The following are two of the jobs completed during the year:   Job CC Job DD Direct materials $375  $1,000 Direct labor $350  $1,200 Units completed 100  160 Direct labor hours 50  80 Number of setups 1  4 Number of orders 4  5 Machine hours 20  25 Kilowatt hours 30  50 ​ The company’s normal activity is 4,000 direct labor hours. If the activity drivers are used to allocate overhead costs, the unit cost (rounded to two decimal places) for Job DD would be