管理会计作业文档格式.docx

管理会计作业文档格式.docx

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2Objective:

Theaveragingprocessisusedtocalculateunitcostsinprocesscosting.

3.Process-costingsystemsseparatecostsintocostcategoriesaccordingtothetimingofwhencostsareintroducedintotheprocess.

4.Estimatingthedegreeofcompletionforthecalculationofequivalentunitsisusuallyeasierforconversioncoststhanitisfordirectmaterials.

equivalentunits

Estimatingthedegreeofcompletioniseasierforthecalculationofdirectmaterialssincedirectmaterialscanbemeasuredmoreeasilythanconversioncosts.

5.Processcostingwouldbemostlikelyusedbyafirmthatproducesheterogeneousproducts.

processcosting

Processcostingwouldbemostlikelyusedbyafirmthatproduceshomogeneousproducts.

6.Thelaststepinaprocess-costingsystemistodeterminetheequivalentunitsfortheperiod.

2

Thelaststepinaprocess-costingsystemistoassignthecostsincurredtocompletedunitsandtounitsinendingworkinprocess.

7.Equivalentunitsarecalculatedseparatelyforeachinput.

3

8.Inaprocess-costingsystem,thereisalwaysaseparateWork-in-Processaccountforeachdifferentprocess.

9.Process-costingjournalentriesandjob-costingjournalentriesaresimilarwithrespecttodirectmaterialsandconversioncosts.

4

10.Theaccounting（forabakery）entrytorecordthetransferofrollsfromthemixingdepartmenttothebakingdepartmentis:

WorkinProcess-MixingDepartment

WorkinProcess-BakingDepartment

Thecorrectaccountingentryistheoppositeoftheentryshownhere.

11.Theweighted-averageprocesscostingmethoddoesnotdistinguishbetweenunitsstartedinthepreviousperiodbutcompletedduringthecurrentperiodandunitsstartedandcompletedduringthecurrentperiod.

5

weighted-averageprocess-costingmethod

12.Equivalentunitsinbeginningworkinprocess+equivalentunitsofworkdoneinthecurrentperiodequalsequivalentunitscompletedandtransferredoutinthecurrentperiodminusequivalentunitsinendingworkinprocess.

Thesecondpartoftheequationshouldbe:

equivalentunitscompletedandtransferredoutinthecurrentperiodPLUSequivalentunitsinendingworkinprocess.

13.Intheweighted-averagecostingmethod,thecostsofdirectmaterialsinbeginninginventoryarenotincludedinthecostperunitcalculationsincedirectmaterialsarealmostalwaysaddedatthestartoftheproductionprocess.

Thecostsofthedirectmaterialsareincludedinthecostperunitcalculation.

14.Theweighted-averagecostisthetotalofallcostsenteringtheWork-in-Processaccount（whethertheyarefrombeginningwork-in-processorfromworkstartedduringthecurrentperiod）dividedbytotalequivalentunitsofworkdonetodate.

15.Theequivalentunitsarenotneededinaweighted-averagesystem,becauseallcostsarejustaveraged.

equivalentunits,weighted-averageprocess-costingmethod

Theequivalentunitsareneededinaweighted-averagesystem,eventhoughallcostsareaveraged.

16.ThecostofunitscompletedcandiffermateriallybetweentheweightedaverageandtheFIFOmethodsofprocesscosting.

5,6

weighted-averageprocess-costingmethod,first-in,first-out（FIFO）process-costingmethod

17.Thefirst-in,first-out（FIFO）processcostingmethodassignsthecostofthepreviousaccountingperiod’sequivalentunitsinbeginningwork-in-processinventorytothefirstunitscompletedandtransferredoutoftheprocess.

6

first-in,first-out（FIFO）process-costingmethod

18.AdistinctivefeatureoftheFIFOprocesscostingmethodisthattheworkdoneonbeginninginventorybeforethecurrentperiodisaveragedwithworkdoneinthecurrentperiod.

first-in,first-out（FIFO）process-costingmethod

AdistinctivefeatureoftheFIFOprocesscostingmethodisthattheworkdoneonbeginninginventorybeforethecurrentperiodiskeptseparatefromworkdoneinthecurrentperiod.

19.TheFIFOprocesscostingmethodmergestheworkandthecostsofthebeginninginventorywiththeworkandthecostsdoneduringthecurrentperiod.

FIFOonlyincludestheworkdoneduringthecurrentperiod.

20.Thefirst-in,first-outprocess-costingmethodassumesthatunitsinbeginninginventoryarecompletedduringthecurrentaccountingperiod.

MULTIPLECHOICE

21.Costingsystemsthatareusedforthecostingoflikeorsimilarunitsofproductsinmassproductionarecalled:

a.inventory-costingsystems

b.job-costingsystems

c.process-costingsystems

d.weighted-averagecostingsystems

cDifficulty:

22.Whichofthefollowingmanufacturedproductswouldnotuseprocesscosting?

a.767jetaircraft

b.19-inchtelevisionsets

c.Custombuilthouses

d.Bothaandcarecorrect.

dDifficulty:

23.Processcostingshouldbeusedtoassigncoststoproductswhenthe:

a.unitsproducedaresimilar

b.unitsproducedaredissimilar

c.calculationofunitcostsrequirestheaveragingofunitcostsoverallunitsproduced

d.Eitheraorcarecorrect.

24.Whichoneofthefollowingstatementsistrue?

a.Inajob-costingsystem,individualjobsusedifferentquantitiesofproductionresources.

b.Inaprocess-costingsystemeachunitusesapproximatelythesameamountofresources.

c.Anaveragingprocessisusedtocalculateunitcostsinajob-costingsystem.

d.Bothaandbarecorrect.

25.Conversioncosts:

a.includeallthefactorsofproduction

b.includedirectmaterials

c.inprocesscostingareusuallyconsideredtobeaddedevenlythroughouttheproductionprocess

d.Bothbandcarecorrect.

26.Anexampleofabusinesswhichwouldhavenobeginningorendinginventorybutwhichcoulduseprocesscostingtocomputeunitcostswouldbea:

a.clothingmanufacturer

b.corporationwhosesolebusinessactivityisprocessingthecustomerdepositsofseveralbanks

c.manufacturerofcustomhouses

d.manufactureroflargeTVs

bDifficulty:

27.Whichofthefollowingstatement（s）concerningconversioncostsiscorrect?

a.Estimatingthedegreeofcompletionofdirectmaterialsinapartiallycompletedunitisusuallyeasiertocalculatethanestimatingthedegreeofcompletionforconversioncosts.

b.Thecalculationofequivalentunitsisrelativelyeasyforthetextileindustry.

c.Estimatesareusuallynotconsideredacceptable.

d.Both（b）and（c）arecorrect.

aDifficulty:

process-costingsystem,equivalentunits

28.Thepurposeoftheequivalent-unitcomputationisto:

a.convertcompletedunitsintotheamountofpartiallycompletedoutputunitsthatcouldbemadewiththatquantityofinput.

b.assistthebusinessindeterminingendinginventory.

c.convertpartiallycompletedunitsintotheamountofcompletedoutputunitsthatcouldbemadewiththatquantityofinput.

29.Inaprocess-costingsystem,thecalculationofequivalentunitsisusedforcalculating:

a.thedollaramountofendinginventory

b.thedollaramountofthecostofgoodssoldfortheaccountingperiod

c.thedollarcostofaparticularjob

30.WhenabakerytransfersgoodsfromtheBakingDepartmenttotheDecoratingDepartment,theaccountingentryis

a.WorkinProcess—BakingDepartment

WorkinProcess—DecoratingDepartment

b.WorkinProcess—DecoratingDepartment

AccountsPayable

c.WorkinProcess—DecoratingDe