Multiple Select QuestionSelect all that applyPlant assets should be recorded at cost, including all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use. This would include which of the following costs?Multiple select question.TestingAssemblingRepairs necessary for damages incurred during installationShipping chargesFines incurred for failing to get the correct permits

Multiple Select QuestionSelect all that applyStandard costs have which of the following characteristics? (Check all that apply.)Multiple select question.they are preset costs for delivering a product or service under normal conditionsthey are developed by the SCAB (Standard Cost Accounting Board)they are used to help management understand reasons for variancesthey are useful for manufacturing companies, but not service companiesproduction managers help determine production requirements for a unit of product

Multiple Select QuestionSelect all that applyWhich of the following items would be included on the capital expenditures budget? (Check all that apply.)Multiple select question.Inventory purchasesSale of plant assetsSalesPlant asset purchasesInterest expense

Multiple Select QuestionSelect all that applyWhich of the following are budgets used by a service company:Multiple select question.CashCapital expendituresDirect materialsDirect laborSalesProduction

Multiple Select QuestionSelect all that applyA responsibility accounting performance report contains which of the following items? (Check all that apply.)Multiple select question.Actual amountsThe difference between actual and budgeted amountsA list of all indirect costsBudgeted amountsA list of all controllable direct costsA list of all controllable costs

Multiple Select QuestionSelect all that applyWhen making decisions, managers should consider all relevant benefits and relevant costs, which include: (Check all that apply.)Multiple select question.historical costs.incremental costs.opportunity costs.sunk costs.out-of-pocket costs.