复习题目成本会计.docx
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复习题目成本会计.docx
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复习题目成本会计
Chapter1andchapter2
1.GalwayCo.managementdesirescostinformationregardingitsCelticbrand.TheCelticbrandisa(n)
a.costobject.
b.costdriver.
c.costassignment.
d.actualcost.
2.Thecostofprinterpaperonacollegecampuswouldbeadirectcosttothecollegebutwouldneedtobeallocatedasanindirectcostto
a.departments.
b.buildings.
c.schools.
d.individualstudentinstruction.
3.WhatisthetotalfixedcostoftheshippingdepartmentofElaineCo.ifithasthefollowinginformationfor2011?
Salaries$800,00075percentofemployeesonguaranteedcontracts
Packaging$400,000dependingonsizeofitem(s)shipped
Postage$500,000dependingonweightofitem(s)shipped
Rentofwarehousespace$250,000annuallease
a.$850,000
b.$900,000
c.$1,050,000
d.$1,950,000
4.RoslandGraphicssuccessfullybidonajobprintingstandardnotebookcoversduringtheyearusinglastyear’spriceof$0.27percover.Thisamountwascalculatedfromprioryearcosts,notingthatnochangesinanycostshadoccurredfromthepastyeartothecurrentyear.Attheendoftheyear,thecompanymanagerwasshockedtodiscoverthatthecompanyhadsufferedaloss.“Howcouldthisbe?
”sheexclaimed.“Wehadnoincreasesincostandourpricewasthesameaslastyear.Lastyearwehadahealthyincome.”Whatcouldexplainthecompany’slossinincomethiscurrentyear?
a.Theircostswereallvariablecostsandtheamountproducedandsoldincreased.
b.Theircostsweremostlyfixedcostsandtheamountproducedthisyearwaslessthanlastyear.
c.Theyusedadifferentcostobjectthisyearthanthepreviousyear.
d.Theircostslastyearwereactualcostsbuttheyusedbudgetedcoststomaketheirbids.
5.Whichtypeofcompanyconvertsrawmaterialsintofinishedproducts?
a.Not-for-profit
b.Service
c.Merchandising
d.Manufacturing
6.Thethreecategoriesofinventoriescommonlyfoundinmanymanufacturingcompaniesare:
a.Directmaterials,directlabor,andindirectmanufacturingcosts.
b.Purchasedgoods,periodcosts,andcostofgoodssold.
c.Directmaterials,work-in-process,andfinishedgoods.
d.LIFO,FIFO,andweightedaverage.
7.Inventoriablecostsare
a.onlypurchasedgoodsforresale.
b.acategoryofcostsusedonlyformanufacturingcompanies.
c.recordedasexpenseswhenincurredandlaterreclassifiedasassets.
d.recordedasassetswhenincurred.
8.Periodcostsare
a.allcostsintheincomestatementotherthancostofgoodssold.
b.definedasmanufacturingcostsincurredthisperiodonthescheduleofcostofgoodsmanufactured.
c.alwaysrecordedasassetswhenfirstincurred.
d.thosecoststhatbenefitfutureperiods.
9.Thecostofaproductcanbemeasuredasanyofthefollowingexceptasone
a.gatheredfromallareasofthevaluechain.
b.identifiedasperiodcost.
c.designatedasmanufacturingcostonly.
d.explicitlydefinedbycontract.
10.Theprimaryfocusofcostmanagementisto
a.helpmanagersmakedifferentdecisions.
b.calculateproductcosts.
c.aidmanagersinbudgeting.
d.distinguishbetweenrelevantandirrelevantinformation.
SOLUTIONS
1.a
2.d
3.a
4.b
5.c
6.c
7.d
8.a
9.b
10.a
Calculations
3.Fixedcosts=(800,000)⨯75%+250,000=$850,000
Chapter3
1.Amixedcostfunctionhasaconstantcomponentof$20,000.Ifthetotalcostis$60,000andtheindependentvariablehasthevalue200,whatisthevalueoftheslopecoefficient?
a.$200
b.$400
c.$600
d.$40,000
2.[CMAAdapted]Ofthefollowingmethods,theonethatwouldnotbeappropriateforanalyzinghowaspecificcostbehavesis
a.thescattergraphmethod.
b.theindustrialengineeringapproach.
c.linearprogramming.
d.statisticalregressionanalysis.
3.Whenthehigh-lowmethodisusedtoestimateacostfunction,thevariablecostperunitisfoundby
a.performingregressionanalysisontheassociatedcostandcostdriverdatabase.
b.subtractingthefixedcostperunitfromthetotalcostperunitbasedoneitherthehighestorlowestobservationofthecostdriver.
c.dividingthedifferencebetweenthehighestandlowestobservationsofthecostdriverbythedifferencebetweencostsassociatedwiththehighestandlowestobservationsofthecostdriver.
d.dividingthedifferencebetweencostsassociatedwiththehighestandlowestobservationsofthecostdriverbythedifferencebetweenthehighestandlowestobservationsofthecostdriver.
Thefollowingdataapplytoquestions4and5.
ToryCompanyderivedthefollowingcostrelationshipfromaregressionanalysisofitsmonthlymanufacturingoverheadcost.
y=$80,000+$12Xwhere:
y=monthlymanufacturingoverheadcost
X=machine-hours
Thestandarderrorofestimateoftheregressionis$6,000.
Thestandardtimerequiredtomanufactureonesix-unitcaseofTory’ssingleproductisfourmachine-hours.Toryappliesmanufacturingoverheadtoproductiononthebasisofmachine-hours,anditsnormalannualproductionis50,000cases.
4.[CMAAdapted]Tory’sestimatedvariablemanufacturingoverheadcostforamonthinwhichscheduledproductionis10,000caseswouldbe
a.$80,000.
b.$480,000.
c.$160,000.
d.$320,000.
5.[CMAAdapted]Tory’spredeterminedfixedmanufacturingoverheadratewouldbe
a.$4.80/MH.
b.$4.00/MH.
c.$3.20/MH.
d.$1.60/MH.
6.Threecriteriatouseinidentifyingcostdriversfromthepotentiallylargesetofindependentvariablesthatcanbeincludedinaregressionmodelare
a.goodnessoffit,sizeoftheinterceptterm,andspecificationanalysis.
b.independencebetweenindependentvariables,economicplausibility,andspecificationanalysis.
c.economicplausibility,goodnessoffit,andsignificanceofindependentvariable.
d.spuriouscorrelation,expenseofgatheringdata,andmulticollinearity.
7.Companiesthattakeadvantageofquantitydiscountsinpurchasingtheirmaterialshave
a.decreasingcostfunctions.
b.linearcostfunctions.
c.nonlinearcostfunctions.
d.stationarycostfunctions.
8.Withthecumulativeaverage-timelearningmodel
a.thecumulativetimeperunitdeclinesbyaconstantpercentagewhenproductiondoubles.
b.thetimeneededtoproducethelastunitdeclinesbyaconstantpercentagewhenproductiondoubles.
c.costsincreaseintotalbyaconstantpercentageasproductionincreases.
d.thetotalcumulativetimeincreasesinproportiontoproductionincreases.
9.Whenusingtheincrementalunit-timelearningmodel
a.thecumulativetimeperunitdeclinesbyaconstantpercentagewhenproductiondoubles.
b.thetimeneededtoproducethelastunitdeclinesbyaconstantpercentagewhenproductiondoubles.
c.thetimetoproduceoneadditionalunitdecreasesbyaconstantpercentage.
d.costsincreaseincrementallyinanundeterminedpattern.
10.Whichofthefollowingisnotacommonproblemencounteredincollectingdataforcostestimation?
a.Lackofobservingextremevalues
b.Missingdata
c.Changesintechnology
d.Distortionsresultingfrominflation
SOLUTIONS
1.a
2.c
3.d
4.b
5.d
6.c
7.c
8.a
9.b
10.a
Calculations
1.Totalcost$60,00040,000
Fixedcost20,000200units=$200/unit(variablecost)
Variablecost40,000
4.y=80,000+12x
Variablecost=(10,000cases⨯4machinehours/case⨯$12/machinehour)
Variablecost=$480,000
5.Fixedcosts=$80,000=$.40/machinehour
Machinehours50,000⨯4
$.40/machinehour⨯4mh/unit=$1.60
Chapter4
1.Production-costcross-subsidizationresultsfrom
a.allocatingindirectcoststomultipleproducts.
b.assigningtracedcoststoeachproduct.
c.assigningcoststodifferentproductsusingvariedcostingsystemswithinthesameorganization.
d.assigningbroadlyaveragedcostsacrossmultipleproductswithoutrecognizingamountsofresourcesusedbywhichproducts.
2.Inrefiningacostsystem
a.totaldirectcostsareunchangedbecausetheycanbetracedinaneconomicallyfeasiblewaytotheproductandtracedcostsaremoreaccurate.
b.thecostsaregroupedinhomogeneouspoolsofthesameorsimilaramounts.
c.thecriterionofcause-and-effectisusedtorelateindirectcoststoafactorthatsystematicallylinkstoacostobject.
d.theorganizationlooksforcost-allocationbasesthatwillprovideauniformspreadingofindirectcoststoeachproduct.
Question3isbasedonthefollowingdata.
TheaveragecostdataareforIn-SyncFixturesCompany’s(aretailer)onlytwoproductlines,MarbletteandItalianMarble.
Marblette
ItalianMarble
Purchasevolume
20,000
1,000
Purchasecostperunit
$50
$50
Shipmentsreceived
12
12
Hoursusedpershipment*
5
3
*Thesedatawereaccumulatedafteracarefulactivityanalysis.
Currently,In-SyncFixturesusesatraditionalcostingsystemwithindirectcostsallocatedusingpurchasedcostofgoodsasabasis.In-SyncFixturesisconsideringrefiningtheallocationoftheirreceivingcostsof$40,000.TheyrealizethattheItalianMarbleisheavierandrequiresmorecarethantheMarblettebutthattheMarblettecomesinlargervolume.
3.WhichstatementcanbemadeusingtheresultsoftheactivityanalysisperformedbyIn-SyncFixtures?
a.Theuseofthisrefinedactivity-basedcostingsystemwillincreasetheaccuracyoftheresultingproductcostsbecauseamoreappropriatecostdriverwillbeusedastheallocationbase.
b.Thetraditionalallocationmethodcurrentlybeingusediscausingproduct-costcross-subsidizationwiththeproductlineMarblettebeingundercosted.
c.ThecostallocatedtotheItalianMarbleproductlineunderthecurrenttraditionalsystemismorethantheactivity-basedcostingallocatedcost.
d.Theuseofthisrefinedactivity-basedcostingsystemwillincreasetheaccuracyoftheresultingproductcostsbecauseitprobablywillcostlesstotracethecoststotheproductlines.
4.Adve
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