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Ko Practice Exam 3 ) Dr. Bailey Name Do not use this exam for any purpose other than pre-t Allow 1.5 hours under not test conditions, and it will ive you a rough idea of Which of the following does the IMA's Standards of Ethical Conduct for Management Accountants not require its members to do? Communicate unfavorable as well as favorable information, judgments, or opinions. Maintain independence from their employer. Avoid actual or apparent conflicts of interest. Refrain from engaging in or supporting any activity that would discredit the profession. None of the above (i.c., all are required). money Select the true statement about ABC. A. It is required under most US military contracts. B. Costs developed from it will be lower than those developed from traditional methods. 7 It treats all costs as fixed (DD None of the above Michael Company had the following information for September: Budgeted Actual Direct-labor costs $100,000 $110,400 Factory overhead: Setup Costs $50,000 $55,000 Other Overhead $25,000 $26,000 Machine hours 40,000 37,460 Production setups 10,000 9,520 Direct-labor hours 20,000 21,000 Michael Company uses normal costing, with direct-labor cost as the application base for overhead. If Job 300 incurred $17,472 of direct labor cost, what is the overhead applied to the job? Ca 813,104. 1415 000 Fie, aug = 7S “DO $11,881. , c $13,978 d $12,667. 1595 | VAI2. ats [oN Based on the same data as the preceding question, what are the total actual baich-level costs? (Recall the cost hierarchy in Ch. 9.) a. $26,000 — pout $55,000 [ ko ; G: $81,000 d. $191,400 
