完整word版cost accounting test bank.docx
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完整word版cost accounting test bank.docx
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完整word版costaccountingtestbank
CHAPTER8QUIZ
1.Whichofthefollowingpertainsprimarilytotheplanningoffixedoverheadcosts?
a.Astandardrateperoutputunitisdeveloped.
b.Onlyessentialactivitiesaretobeundertaken.
c.Activitiesaretobeundertakeninthemostefficientmethod.
d.Keydecisionsaremadeatthestartofthebudgetperioddeterminingthelevelofcosts.
2.Inselectingacostallocationbaseforvariableoverhead,whatcriteriaforthebaseispreferred?
a.Easeofacquiringreliableinformationforaccurateallocations
b.Acause-and-effectrelationshipbetweenthecostandtheactivitylevel
c.Asinglebasethatwillsimplifytheallocationprocess
d.Onethathasbeenusedinthepast
Thefollowingdataapplytoquestions3–9.
SebastianCompany,whichmanufactureselectricalswitches,usesastandardcostsystemandcarriesallinventoriesatstandard.Thestandardmanufacturingoverheadcostsperswitcharebasedondirectlaborhoursandareshownbelow:
Variableoverhead(5hours@$12perdirectmanufacturinglaborhour)$60
Fixedoverhead(5hours@$15*perdirectmanufacturinglaborhour)75
Totaloverheadperswitch$135
*Basedoncapacityof200,000directmanufacturinglaborhourspermonth.
ThefollowinginformationisavailableforthemonthofDecember:
∙46,000switcheswereproducedalthough40,000switcheswerescheduledtobeproduced.
∙225,000directmanufacturinglaborhourswereworkedatatotalcostof$5,625,000.
∙Variablemanufacturingoverheadcostswere$2,750,000.
∙Fixedmanufacturingoverheadcostswere$3,050,000.
3.[CMAAdapted]ThevariableoverheadspendingvarianceforDecemberwas
a.$50,000U.
b.$350,000U.
c.$10,000F.
d.$60,000F.
4.[CMAAdapted]ThevariablemanufacturingoverheadefficiencyvarianceforDecemberwas
a.$50,000U.
b.$350,000U.
c.$10,000F.
d.$60,000F.
5.Thetotalvariablemanufacturingoverheadvariancewas
a.$10.000F.
b.$10,000U.
c.$110,000U.
d.$110,000F.
6.[CMAAdapted]ThefixedmanufacturingoverheadspendingvarianceforDecemberwas
a.$450,000F.
b.$400,000F.
c.$50,000U.
d.$775,000F.
7.ThefixedoverheadproductionvolumevarianceforDecemberwas
a.$450,000F.
b.$400,000F.
c.$50,000U.
d.$775,000F.
8.WhatamountshouldbecreditedtotheAllocatedManufacturingOverheadControlaccountforthemonthofDecember?
a.$6,210,000
b.$5,800,000
c.$5,760,000
d.$5,700,000
9.Underthe2-variancemethod,theflexible-budgetvarianceforDecemberwas
a.$10,000F.
b.$40,000U.
c.$50,000U.
d.$100,000U.
10.Underthe3-variancemethod,thespendingvarianceforDecemberwas
a.$10,000F.
b.$40,000U.
c.$50,000U.
d.$100,000U.
11.Whichofthefollowingstatementsistrueaboutoverheadcostvarianceanalysisusingactivity-basedcosting?
a.Overheadcostvariancesarecalculatedforoutput-unitlevelcostsonly.
b.Overheadcostvariancesarecalculatedforvariablemanufacturingoverheadcostsonly.
c.A4-varianceanalysiscanbeconducted.
d.Activity-basedcostingusesinputmeasuresforallactivities,resultingintheinabilitytodoflexiblebudgetsneededforvarianceanalysis.
CHAPTER8QUIZSOLUTIONS
1.d
2.b
3.a
4.d
5.a
6.c
7.a
8.a
9.b
10.d
11.c
QuizQuestionCalculations
3.Standard225,000DLH$12=$2,700,000
Actual2,750,000
VOHSpendingvariance$50,000U
4.Standard46,000switches5DLH/switch=230,000
ActualDLH225,000
VOHEfficiencyvariance5,000$12=$60,000F
5.Totalvariableoverheadvariance=$50,000U+$60,000F=$10,000F
6.BudgetedfixedOH200,000DLH$15/DLH=$3,000,000
ActualfixedOH3,050,000
FOHSpendingvariance50,000U
7.BudgetedDLH200,000
Allocated46,0005230,000
30,00015=450,000F
230,000(15+12)=$6,210,000
50,000U–60,000F+50,000U=40,000U
50,000U+50,000U=100,000U
CHAPTER15QUIZ
1.Theuseofadual-ratecost-allocationmethodrecognizes
a.theimprovementsintechnologyallowingforuseofmultiplecostpools.
b.theneedtousebothbudgetedandactualcostrateswhenallocating.
c.theneedtousebothbudgetedandactualusageofquantitieswhenallocating.
d.thebehavioraspectofcosts.
2.Managersareaffectedbyriskstheyhavetotakeandwouldprefertouse
a.actualratesforcostallocationbecausetheratesarecalculatedfromrealamounts.
b.actualratesforcostallocationbecauseactualratesareeasiertojustifytousers.
c.budgetedratesforcostallocationbecausetheratesareknowninadvance.
d.budgetedratesforcostallocationbecauseanyvariancesaretransferredtousers.
Thefollowingdataapplytoquestions3–5.
BillyStone,Inc.budgetsthefollowingamountsforitsBuildings&GroundsandComputerServicesDepartmentsinservicingeachotherandthetwomanufacturingdivisionsofSignsandMailers:
UsedBy
SuppliedByBuilding&GroundsComputerServicesSignsMailers
Buildings&Grounds—0.200.600.20
ComputerServices0.15—0.300.55
Theactualresultsforthetimeperiodwereasfollows:
UsedBy
SuppliedByBuilding&GroundsComputerServicesSignsMailers
Buildings&Grounds—0.100.600.30
ComputerServices0.25—0.350.40
Actualcostdataforeachdepartmentare:
FixedVariable
Buildings&Grounds$50,000$90,000
ComputerServices$100,000$21,000
3.TotalfixedcostsallocatedfromBuildings&GroundstotheSignsDepartment,usingthepreferredallocationbasis,bythedirectallocationmethodare
a.$37,500.
b.$33,333.
c.$30,000.
d.$25,000.
4.TotalvariablecostsallocatedfromComputerServicestoMailersDepartment,usingthepreferredallocationbasis,bythestep-downallocationmethod(beginwithBuilding&Grounds)are
a.$8,400.
b.$12,000.
c.$16,000.
d.$25,235.
5.TheequationtodeterminethetotalvariablecostsofComputerServicesusingthepreferredallocationbasisforthereciprocalallocationmethodis
a.CS=$21,000+0.25B&G.
b.CS=$21,000+0.20B&G.
c.CS=$21,000+0.15B&G.
d.CS=$21,000+0.10B&G.
6.Ifacostisincurredformorethanoneuser,thatcostisconsidereda(n)
a.homogeneouscost.
b.commoncost.
c.stand-alonecost.
d.incrementalcost.
7.Whichofthefollowingisoftenthemostbasiccauseofcontractdisputes?
a.Allowablecosts
b.Cost-allocationissues
c.Useofcommoncosts
d.Writingintothecontract“rulesofthegame”
8.Bundlingofproductscreatestheneedforrevenueallocationforeachofthefollowingexceptwhen
a.sellingpricesforthebundlearesettorecoupthestand-alonepricesofeachproductinthebundle.
b.themanagerisresponsibleforprofitabilityonaproduct-by-productbasis.
c.themanager’sbonusisbaseduponproductprofitability.
d.personsinvolvedwithproductdevelopmentarecompensatedbypercentageofrevenuesrealized.
Usethefollowinginformationforquestions9and10.
TrioCompanysellsthreeproducts,Do,Ra,andMi,forpricesof$8,$7,and$5,respectively.Theyalsooffercombinationsoftheproductsforreducedoverallprices.Thefollowingpackagesareavailable:
(1)apackagecontainingDoandRasellsfor$13.50,
(2)apackageofDoandMisellsfor$11.50,(3)apackagecontainingRaandMisellsfor$10.50,and(4)apackageofallthreeproducts,Do,Ra,andMi,sellsfor$17.00.
9.IfTrioCompanyusesthestand-alonemethod(basedonsellingprices)toallocaterevenuestoproducts,theamountofrevenuestobeallocatedtoDofromapackageofallthreeproducts,asdescribedin(4)above,soldwouldbe
a.$8.00.
b.$6.80.
c.$5.95.
d.$4.25.
10.IfTrioCompanyusestheincremental-revenuesallocationmethodandhasdesignatedRaastheprimaryproduct,theamountofrevenuesfromabundledpackageofallthreeproductstobeallocatedtoRawouldbe
a.$7.00.
b.$6.80.
c.$5.95.
d.$4.25.
CHAPTER16QUIZ
Thefollowingdataapplytoquestions1–5.
BrantCorporationmanufacturestwoproductsoutofajointprocess—ScoutandAndro.Thejoint(common)costsincurredare$400,000forastandardproductionrunthatgenerates70,000poundsofScoutand30,000poundsofAndro.Scoutsellsfor$9.00perpoundwhereasAndrosellsfor$7.00perpound.
1.[CMAAdapted]Iftherearenoadditionalprocessingcostsincurredafterthesplitoffpoint,theamountofjointcostofeachproductionrunallocatedtoScoutonaphysical-quantitybasisis
a.$300,000.
b.$280,000.
c.$120,000.
d.$100,000.
2.[CMAAdapted]Iftherearenoadditionalprocessingcostsincurredafterthesplitoffpoint,theamountofjointcostofeachproductionrunallocatedtoAndroonasalesvalueatsplitoffbasisis
a.$300,000.
b.$225,000.
c.$175,000.
d.$100,000.
3.[CMAAdapted]Ifadditionalprocessingcostsbeyondthesplitoffpointare$1.00perpoundforScoutand$2.333perpoundforAndro,theamountofjointcostofeachproductionrunallocatedtoAndroonaphysicalquantitybasisis
a.$300,000.
b.$280,000.
c.$120,000.
d.$100,000.
4.[CMAAdapted]Ifadditionalprocessingcostsbeyondthesplitoffpointare$1.00perpoundforScoutand$2.333perpoundforAndro,theamountofjointcostofeachproductionrunallocatedtoAndroonanestimatednetrealizablevaluebasisis
a.$80,000.
b.$147,350.
c.$175,000.
d.$320,000.
5.Assumethesamecostinformationasinquestion4.TheamountofjointcostofeachproductionrunallocatedtoScoutusingtheconstantgross-marginpercentageNRVmethodis
a.$224,910.
b.$260,120.
c.$335,090.
d.$405,090.
6.[CPAAdapted]Forpurposesofallocatingjointcoststojointproducts,thesalesvalueatsplitoffmethodcould
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