cost accounting test bank chapter 7文档格式.docx
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cost accounting test bank chapter 7文档格式.docx
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2)Managementbyexceptionisapracticewherebymanagersfocusmorecloselyon________.
A)astaticbudget
B)areasthatarenotoperatingasanticipated
C)activity-basedcosting
D)exceptionaldecision-makingmodels
3)Avarianceis________.
A)thedifferencebetweenactualfixedcostperunitandstandardvariablecostperunit
B)thestandardunitsofinputsforoneoutput
C)thedifferencebetweenanactualresultandabudgetedperformance
D)thedifferencebetweenactualvariablecostperunitandstandardfixedcostperunit
C
4)Anunfavorablevarianceindicatesthat________.
A)theactualcostsarelessthanthebudgetedcosts
B)theactualrevenuesexceedthebudgetedrevenues
C)theactualunitssoldarelessthanthebudgetedunits
D)thebudgetedcontributionmarginismorethantheactualamount
2
5)Afavorablevarianceindicatesthat________.
A)budgetedcostsarelessthanactualcosts
B)actualrevenuesexceedbudgetedrevenues
C)actualoperatingincomeislessthanthebudgetedamount
D)budgetedcontributionmarginismorethantheactualamount
Answerthefollowingquestionsusingtheinformationbelow:
LanderCorporationusedthefollowingdatatoevaluatetheircurrentoperatingsystem.Thecompanysellsitemsfor$18eachandusedabudgetedsellingpriceof$18perunit.
ActualBudgeted
Unitssold41,000units40,000units
Variablecosts$164,000$156,000
Fixedcosts$46,000$48,000
6)Whatisthestatic-budgetvarianceofrevenues?
A)$18,000favorable
B)$18,000unfavorable
C)$6,000favorable
D)$4,000unfavorable
A
Explanation:
A)Static-budgetvarianceofrevenues=(41,000units×
$18)-(40,000units×
$18)=$18,000F
Applicationofknowledge
7)Whatisthestatic-budgetvarianceofvariablecosts?
A)$2,000favorable
B)$8,000unfavorable
C)$4,000favorable
D)$6,000unfavorable
B)Static-budgetvarianceofvariablecosts=$164,000−$156,000=$8,000U
8)Whatisthestatic-budgetvarianceofoperatingincome?
A)$10,000favorable
B)$10,000unfavorable
C)$12,000favorable
D)$12,000unfavorable
C)ActualStaticStatic-budget
ResultsBudgetVariance
Unitssold41,00040,000
Revenues$738,000$720,000$18,000F
Variablecosts164,000156,0008,000U
Contributionmargin$574,000$564,00010,000F
Fixedcosts46,00048,0002,000F
Operatingincome$528,000$516,000$12,000F
3
ContraficCorporationusedthefollowingdatatoevaluateitscurrentoperatingsystem.Thecompanysellsitemsfor$21eachandusedabudgetedsellingpriceof$21perunit.
Unitssold180,000units185,000units
Variablecosts$1,080,000$1,295,000
Fixedcosts$800,000$775,000
9)Whatisthestatic-budgetvarianceofrevenues?
A)$105,000favorable
B)$105,000unfavorable
C)$8,000favorable
D)$8,000unfavorable
B)Static-budgetvarianceofrevenues=(180,000units×
$21)−(185,000units×
$21)=$105,000U
10)Whatisthestatic-budgetvarianceofvariablecosts?
A)$25,000favorable
B)$25,000unfavorable
C)$215,000favorable
D)$215,000unfavorable
C)Static-budgetvarianceofvariablecosts=$1,080,000−$1,295,000=$215,000F
11)Whatisthestatic-budgetvarianceofoperatingincome?
A)$85,000favorable
B)$90,000unfavorable
C)$110,000favorable
D)$105,000unfavorable
A)ActualStaticStatic-budget
Unitssold180,000185,000
Revenues$3,780,000$3,885,000$(105,000)U
Variablecosts1,080,0001,295,000(215,000)F
Contributionmargin$2,700,000$2,590,000110,000F
Fixedcosts800,000775,00025,000U
Operatingincome$1,900,000$1,815,000$85,000F
CoroidCorporationusedthefollowingdatatoevaluatetheircurrentoperatingsystem.Thecompanysellsitemsfor$11eachandhadusedabudgetedsellingpriceof$12perunit.
Unitssold280,000units275,000units
Variablecosts$900,000$885,000
Fixedcosts$55,000$52,000
12)Whatisthestatic-budgetvarianceofrevenues?
A)$55,000favorable
B)$220,000favorable
C)$220,000unfavorable
D)$55,000unfavorable
C)Static-budgetvarianceofrevenues=(280,000units×
$11)−(275,000units×
$12)=$220,000U
13)Whatisthestatic-budgetvarianceofvariablecosts?
A)$12,000favorable
B)$12,000unfavorable
C)$15,000favorable
D)$15,000unfavorable
D
D)Static-budgetvarianceofvariablecosts=$900,000−$885,000=$15,000U
14)Whatisthestatic-budgetvarianceofoperatingincome?
A)$238,000favorable
B)$238,000unfavorable
C)$235,000favorable
D)$235,000unfavorable
B)ActualStaticStatic-budget
Unitssold280,000275,000
Revenues$3,080,000$3,300,000$(220,000)U
Variablecosts900,000885,000(15,000)U
Contributionmargin$2,180,000$2,415,000235,000U
Fixedcosts55,00052,0003,000U
Operatingincome$2,125,000$2,363,000$238,000U
15)RegierCompanyhadplannedforoperatingincomeof$10millioninthemasterbudgetbutactuallyachievedoperatingincomeofonly$7million.
A)Thestatic-budgetvarianceforoperatingincomeis$3millionfavorable.
B)Thestatic-budgetvarianceforoperatingincomeis$3millionunfavorable.
C)Theflexible-budgetvarianceforoperatingincomeis$3millionfavorable.
D)Theflexible-budgetvarianceforoperatingincomeis$3millionunfavorable.
16)Amasterbudgetiscalledastaticbudgetbecauseitisdevelopedaroundasingleplannedoutputlevel.
TRUE
17)Whenconsideredinisolation,afavorablevariancedecreasesoperatingincomerelativetothebudgetedamount.
FALSE
Whenconsideredinisolation,afavorablevarianceincreasesoperatingincomerelativetothebudgetedamount.
18)Avarianceisthedifferencebetweentheactualcostforthecurrentandexpected(orbudgeted)performance.
19)Afavorablevarianceresultswhenactualcostsexceedbudgetedcosts.
Anunfavorablevarianceresultswhenactualcostsexceedbudgetedcosts.
20)Managementbyexceptionisthepracticeofconcentratingonareasnotoperatingasanticipated(suchasacostoverrun)andplacinglessattentiononareasoperatingasanticipated.
21)Afavorablevarianceindicatesthatbudgetedcostsarelessthanactualcosts.
Afavorablevarianceindicatesthatbudgetedcostsaregreaterthanactualcosts.
22)Afavorablevarianceshouldbeignoredbymanagement.
Favorablevarianceinvestigationmayleadtoimprovedproductionmethods,otherdiscoveriesforfutureopportunities,ornotbegoodnewsatallandadverselyaffectothervariances.
23)Variancesareusedforevaluatingperformanceandformotivatingmanagers.
24)Static-budgetvarianceforoperatingincomeiscalculatedbytakingadifferencebetweenstatic-budgetoperatingincomeandactualoperatingincome.
25)Explainthedifferencebetweenastaticbudgetandaflexiblebudget.Explainwhatismeantbyastaticbudgetvarianceandaflexiblebudgetvariance.
Astaticbudgetisonebasedonthelevelofoutputplannedatthestartofthebudgetperiod.Aflexiblebudgetcalculatesbudgetedrevenueandbudgetedcostsbasedontheactualoutputinthebudgetperiod.Theonlydifferencebetweenthestaticbudgetandtheflexiblebudgetisthatthestaticbudgetispreparedfortheplannedoutput,whereastheflexiblebudgetispreparedbasedontheactualoutput.
Astaticbudgetvarianceisthedifferencebetweentheactualresultsandthecorrespondingbudgetedamountsinthestaticbudget.Aflexible-budgetvarianceisthedifferencebetweenanactualresultandthecorrespondingflexible-budgetamountbasedontheactualoutputinthebudgetperiod.
AACSB
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