49063692Chapter05ActivityBasedCosting.docx
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49063692Chapter05ActivityBasedCosting.docx
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49063692Chapter05ActivityBasedCosting
MultipleChoiceQuestions
1.Considerthefollowingstatementsregardingtraditionalcostingsystems:
I.Overheadcostsareappliedtoproductsonthebasisofvolume-relatedmeasures.
II.Allmanufacturingcostsareeasilytraceabletothegoodsproduced.
III.Traditionalcostingsystemstendtodistortunitmanufacturingcostswhennumerousgoodsaremadethathavewidelyvaryingproductionrequirements.
Whichoftheabovestatementsis(are)true?
A.Ionly.
B.IIonly.
C.IIIonly.
D.IandIII.
E.IIandIII.
Answer:
DLO:
1Type:
N
2.Manytraditionalcostingsystems:
A.tracemanufacturingoverheadtoindividualactivitiesandrequirethedevelopmentofnumerousactivity-costingrates.
B.writeoffmanufacturingoverheadasanexpenseofthecurrentperiod.
C.combinewidelyvaryingelementsofoverheadintoasinglecostpool.
D.useahostofdifferentcostdrivers(e.g.,numberofproductionsetups,inspectionhours,ordersprocessed)toimprovetheaccuracyofproductcosting.
E.produceresultsfarsuperiortothoseachievedwithactivity-basedcosting.
Answer:
CLO:
1Type:
N
3.Thefollowingtasksareassociatedwithanactivity-basedcostingsystem:
1—Calculationofcostapplicationrates
2—Identificationofcostdrivers
3—Assignmentofcosttoproducts
4—Identificationofcostpools
Whichofthefollowingchoicescorrectlyexpressestheproperorderoftheprecedingtasks?
A.1,2,3,4.
B.2,4,1,3.
C.3,4,2,1.
D.4,2,1,3.
E.4,2,3,1.
Answer:
DLO:
2,4Type:
RC
4.Whichofthefollowingisthepropersequenceofeventsinanactivity-basedcostingsystem?
A.Identificationofcostdrivers,identificationofcostpools,calculationofcostapplicationrates,assignmentofcosttoproducts.
B.Identificationofcostpools,identificationofcostdrivers,calculationofcostapplicationrates,assignmentofcosttoproducts.
C.Assignmentofcosttoproducts,identificationofcostpools,identificationofcostdrivers,calculationofcostapplicationrates.
D.Calculationofcostapplicationrates,identificationofcostdrivers,identificationofcostpools,assignmentofcosttoproducts.
E.Someothersequenceofthefouractivitieslistedabove.
Answer:
BLO:
2,4Type:
RC
5.Whichofthefollowingtasksisnotnormallyassociatedwithanactivity-basedcostingsystem?
A.Calculationofcostapplicationrates.
B.Identificationofcostpools.
C.Preparationofallocationmatrices.
D.Identificationofcostdrivers.
E.Assignmentofcosttoproducts.
Answer:
CLO:
2,4Type:
RC
6.Whichofthefollowingisnotabroad,costclassificationcategorytypicallyusedinactivity-basedcosting?
A.Unit-level.
B.Batch-level.
C.Product-sustaininglevel.
D.Facility-level.
E.Management-level.
Answer:
ELO:
3Type:
RC
7.Inanactivity-basedcostingsystem,directmaterialsusedwouldtypicallybeclassifiedasa:
A.unit-levelcost.
B.batch-levelcost.
C.product-sustainingcost.
D.facility-levelcost.
E.matrix-levelcost.
Answer:
ALO:
3Type:
N
8.Whichofthefollowingisleastlikelytobeclassifiedasabatch-levelactivityinanactivity-basedcostingsystem?
A.Shipping.
B.Receivingandinspection.
C.Productionsetup.
D.Propertytaxes.
E.Qualityassurance.
Answer:
DLO:
3Type:
RC
9.Inanactivity-basedcostingsystem,materialsreceivingwouldtypicallybeclassifiedasa:
A.unit-levelactivity.
B.batch-levelactivity.
C.product-sustainingactivity.
D.facility-levelactivity.
E.period-levelactivity.
Answer:
BLO:
3Type:
RC
10.Foster,Inc.,anappliancemanufacturer,isdevelopinganewlineofovensthatusescontrolled-lasertechnology.Theresearchandtestingcostsassociatedwiththenewovensissaidtoarisefroma:
A.unit-levelactivity.
B.batch-levelactivity.
C.product-sustainingactivity.
D.facility-levelactivity.
E.competitive-levelactivity.
Answer:
CLO:
3Type:
N
11.Considerthefollowingstatementsregardingproduct-sustainingactivities:
I.Theymustbedoneforeachbatchofproductthatismade.
II.Theymustbedoneforeachunitofproductthatismade.
III.Theyareneededtosupportanentireproductline.
Whichoftheabovestatementsis(are)true?
A.Ionly.
B.IIonly.
C.IIIonly.
D.IandII.
E.IIandIII.
Answer:
CLO:
3Type:
RC
12.Whichofthefollowingisleastlikelytobeclassifiedasafacility-levelactivityinanactivity-basedcostingsystem?
A.Plantmaintenance.
B.Propertytaxes.
C.Machineprocessingcost.
D.Plantdepreciation.
E.Plantmanagementsalaries.
Answer:
CLO:
3Type:
RC
13.Thesalariesofamanufacturingplant'smanagementaresaidtoarisefrom:
A.unit-levelactivities.
B.batch-levelactivities.
C.product-sustainingactivities.
D.facility-levelactivities.
E.direct-costactivities.
Answer:
DLO:
3Type:
RC
14.Whichofthefollowingchoicescorrectlydepictsacostthatarisesfromabatch-levelactivityandonethatarisesfromafacility-levelactivity?
Batch-Level
Activity
Facility-Level
Activity
A.
Directmaterials
Plantdepreciation
B.
Inspection
Propertytaxes
C.
Qualityassurance
Shipping
D.
Plantmaintenance
Insurance
E.
Managementsalaries
Materialhandling
Answer:
BLO:
3Type:
RC
15.Thedivisionofactivitiesintounit-level,batch-level,product-sustaininglevel,andfacility-levelcategoriesiscommonlyknownasacost:
A.object.
B.applicationmethod.
C.hierarchy.
D.estimationmethod.
E.classificationschemethatisusefulintraditional,volume-basedsystems.
Answer:
CLO:
3Type:
RC
16.Alamo'scustomerservicedepartmentfollowsuponcustomercomplaintsbytelephoneinquiry.Duringarecentperiod,thedepartmentinitiated7,000callsandincurredcostsof$203,000.If2,940ofthesecallswereforthecompany'swholesaleoperation(theremainderwerefortheretaildivision),costsallocatedtotheretaildivisionshouldamountto:
A.$0.
B.$29.
C.$85,260.
D.$117,740.
E.$203,000.
Answer:
DLO:
4Type:
A
Usethefollowingtoanswerquestions17-18:
RiversideFloristsusesanactivity-basedcostingsystemtocomputethecostofmakingfloralbouquetsanddeliveringthebouquetstoitscommercialcustomers.Companypersonnelwhoearn$180,000typicallyperformbothtasks;otherfirm-wideoverheadisexpectedtototal$70,000.Thesecostsareallocatedasfollows:
BouquetProduction
Delivery
Other
Wagesandsalaries
60%
30%
10%
Otheroverhead
50%
35%
15%
Riversideanticipatesmaking20,000bouquetsand4,000deliveriesintheupcomingyear.
17.Thecostofwagesandsalariesandotheroverheadthatwouldbechargedtoeachbouquetmadeis:
A.$7.15.
B.$8.75.
C.$12.50.
D.$13.75.
E.someotheramount.
Answer:
ALO:
4Type:
A
18.Thecostofwagesandsalariesandotheroverheadthatwouldbechargedtoeachdeliveryis:
A.$19.63.
B.$20.31.
C.$26.75.
D.$40.63.
E.someotheramount.
Answer:
ALO:
4Type:
A
Usethefollowingtoanswerquestions19-27:
HiTechProductsmanufacturesthreetypesofremote-controldevices:
Economy,Standard,andDeluxe.Thecompany,whichusesactivity-basedcosting,hasidentifiedfiveactivities(andrelatedcostdrivers).Eachactivity,itsbudgetedcost,andrelatedcostdriverisidentifiedbelow.
Activity
Cost
CostDriver
Materialhandling
$225,000
Numberofparts
Materialinsertion
2,475,000
Numberofparts
Automatedmachinery
840,000
Machinehours
Finishing
170,000
Directlaborhours
Packaging
170,000
Ordersshipped
Total
$3,880,000
Thefollowinginformationpertainstothethreeproductlinesfornextyear:
Economy
Standard
Deluxe
Unitstobeproduced
10,000
5,000
2,000
Orderstobeshipped
1,000
500
200
Numberofpartsperunit
10
15
25
Machinehoursperunit
1
3
5
Laborhoursperunit
2
2
2
19.WhatisHiTech'scostapplicationrateforthematerial-handlingactivity?
A.$1.00perpart.
B.$2.25perpart.
C.$6.62perlaborhour.
D.$13.23perpart.
E.Arateotherthanthoselistedabove.
Answer:
ALO:
4Type:
A
20.WhatisHiTech'scostapplicationratefortheautomatedmachineryactivity?
A.$24.00permachinehour.
B.$24.50perlaborhour.
C.$49.42perunit.
D.$50.00permachinehour.
E.Arateotherthanthoselistedabove.
Answer:
ALO:
4Type:
A
21.WhatisHiTech'scostapplicationrateforthefinishingactivity?
A.$5.00perlaborhour.
B.$5.00permachinehour.
C.$5.00perunit.
D.$7.50perunit.
E.Arateotherthanthoselistedabove.
Answer:
ALO:
4Type:
A
22.WhatisHiTech'scostapplicationrateforthepackagingactivity?
A.$4.86permachinehour.
B.$5.00perlaborhour.
C.$10.00perunit.
D.$100.00perordershipped.
E.Arateotherthanthoselistedabove.
Answer:
DLO:
4Type:
A
23.Underanactivity-basedcostingsystem,whatistheper-unitcostofEconomy?
A.$141.
B.$164.
C.$225.
D.$228.
E.Anamountotherthanthoselistedabove.
Answer:
BLO:
4Type:
A
24.Underanactivity-basedcostingsystem,whatistheper-unitcostofStandard?
A.$164.
B.$228.
C.$272.
D.$282.
E.Anamountotherthanthoselistedabove.
Answer:
CLO:
4Type:
A
25.Underanactivity-basedcostingsystem,whatistheper-unitcostofDeluxe?
A.$272.
B.$282.
C.$320.
D.$440.
E.Anamountotherthanthoselistedabove.
Answer:
DLO:
4Type:
A
26.AssumethatHiTechisusingavolume-basedcostingsystem
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