361 Chapter 10 MC Solutions.docx
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361 Chapter 10 MC Solutions.docx
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361Chapter10MCSolutions
Chapter10—RelevantInformationforDecisionMaking
MULTIPLECHOICE
1.Costsforgonewhenanindividualororganizationchoosesoneoptionoveranotherare
a.budgetedcosts.
b.sunkcosts.
c.historicalcosts.
d.opportunitycosts.
ANS:
DPTS:
1DIF:
EasyOBJ:
10-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
2.Whichofthefollowingcostswouldnotbeaccountedforinacompany'srecordkeepingsystem?
a.anunexpiredcost
b.anexpiredcost
c.aproductcost
d.anopportunitycost
ANS:
DPTS:
1DIF:
EasyOBJ:
10-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
3.Whichofthefollowingisnotacharacteristicofrelevantcostinginformation?
Itis
a.associatedwiththedecisionunderconsideration.
b.significanttothedecisionmaker.
c.readilyquantifiable.
d.relatedtoafutureendeavor.
ANS:
CPTS:
1DIF:
EasyOBJ:
10-1NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
4.Afixedcostisrelevantifitis
a.uncontrollable.
b.avoidable.
c.sunk.
d.aproductcost.
ANS:
BPTS:
1DIF:
EasyOBJ:
10-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
5.Relevantcostsare
a.allfixedandvariablecosts.
b.allcoststhatwouldbeincurredwithintherelevantrangeofproduction.
c.pastcoststhatareexpectedtobedifferentinthefuture.
d.anticipatedfuturecoststhatwilldifferamongvariousalternatives.
ANS:
DPTS:
1DIF:
EasyOBJ:
10-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
6.Whichofthefollowingistheleastlikelytobearelevantitemindecidingwhethertoreplaceanoldmachine?
a.acquisitioncostoftheoldmachine
b.outlaytobemadeforthenewmachine
c.annualsavingstobeenjoyedonthenewmachine
d.lifeofthenewmachine
ANS:
APTS:
1DIF:
EasyOBJ:
10-2
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
7.Ifacostisirrelevanttoadecision,thecostcouldnotbe
a.asunkcost.
b.afuturecost.
c.avariablecost.
d.anincrementalcost.
ANS:
DPTS:
1DIF:
EasyOBJ:
10-2
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
8.Whichofthefollowingcostswouldberelevantinshort-termdecisionmaking?
a.incrementalfixedcosts
b.allcostsofinventory
c.totalvariablecoststhatarethesameintheconsideredalternatives
d.thecostofafixedassetthatcouldbeusedinalltheconsideredalternatives
ANS:
APTS:
1DIF:
EasyOBJ:
10-2NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
9.Thetermincrementalcostrefersto
a.theprofitforegonebyselectingonechoiceinsteadofanother.
b.theadditionalcostofproducingorsellinganotherproductorservice.
c.acostthatcontinuestobeincurredintheabsenceofactivity.
d.acostcommontoallchoicesinquestionandnotclearlyorfeasiblyallocabletoanyofthem.
ANS:
BPTS:
1DIF:
EasyOBJ:
10-2
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
10.Acostissunkifit
a.isnotanincrementalcost.
b.isunavoidable.
c.hasalreadybeenincurred.
d.isirrelevanttothedecisionathand.
ANS:
CPTS:
1DIF:
EasyOBJ:
10-2
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
11.
Mostarerelevanttodecisionstoacquirecapacity,butnottoshort-rundecisionsinvolvingthe
useofthatcapacity.
a.sunkcosts
b.incrementalcosts
c.fixedcosts
d.primecosts
ANS:
CPTS:
1DIF:
EasyOBJ:
10-2
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
12.Irrelevantcostsgenerallyinclude
Allocatedcosts
Sunkcosts
Historicalcosts
a.yes
yes
no
b.yes
no
no
c.no
no
yes
d.yes
yes
yes
ANS:
D
PTS:
1
DIF:
Easy
OBJ:
10-2
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
13.Indecidingwhetheranorganizationwillkeepanoldmachineorpurchaseanewmachine,amanagerwouldignorethe
a.estimateddisposalvalueoftheoldmachine.
b.acquisitioncostoftheoldmachine.
c.operatingcostsofthenewmachine.
d.estimateddisposalvalueofthenewmachine.
14.Thepotentialrentalvalueofspaceusedforproductionactivities
a.isavariablecostofproduction.
b.representsanopportunitycostofproduction.
c.isanunavoidablecost.
d.isasunkcostofproduction.
ANS:
BPTS:
1DIF:
EasyOBJ:
10-3
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
15.Theopportunitycostofmakingacomponentpartinafactorywithexcesscapacityforwhichthereisnoalternativeuseis
a.thetotalmanufacturingcostofthecomponent.
b.thetotalvariablecostofthecomponent.
c.thefixedmanufacturingcostofthecomponent.
d.zero.
ANS:
DPTS:
1DIF:
EasyOBJ:
10-3
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
16.
Whichofthefollowingarerelevantinamakeorbuydecision?
17.Inamakeorbuydecision,theopportunitycostofcapacitycould
a.beconsideredtodecreasethepriceofunitspurchasedfromsuppliers.
b.beconsideredtodecreasethecostofunitsmanufacturedbythecompany.
c.beconsideredtoincreasethepriceofunitspurchasedfromsuppliers.
d.notbeconsideredsinceopportunitycostsarenotpartoftheaccountingrecords.
ANS:
APTS:
1DIF:
EasyOBJ:
10-3NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
18.Whichofthefollowingarerelevantinamakeorbuydecision?
Primecosts
Sunkcosts
Incrementalcosts
a.yes
yes
yes
b.yes
no
yes
c.yes
no
no
d.no
no
yes
ANS:
B
PTS:
1
DIF:
Easy
OBJ:
10-3
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
19.Inamakeorbuydecision,thereliabilityofapotentialsupplieris
a.anirrelevantdecisionfactor.
b.relevantinformationifitcanbequantified.
c.anopportunitycostofcontinuedproduction.
d.aqualitativedecisionfactor.
ANS:
DPTS:
1DIF:
EasyOBJ:
10-3NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
20.Whichofthefollowingqualitativefactorsfavorsthebuychoiceinamakeorbuydecisionforapart?
a.maintainingalong-termrelationshipwithsuppliers
b.qualitycontroliscritical
c.utilizationofidlecapacity
d.partiscriticaltoproduct
ANS:
APTS:
1DIF:
EasyOBJ:
10-3
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
21.Whenascarceresource,suchasspace,existsinanorganization,thecriterionthatshouldbeusedtodetermineproductionis
a.contributionmarginperunit.
b.sellingpriceperunit.
c.contributionmarginperunitofscarceresource.
d.totalvariablecostsofproduction.
ANS:
CPTS:
1DIF:
EasyOBJ:
10-4NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
22.Contractingwithvendorsoutsidetheorganizationtoobtainoracquiregoodsand/orservicesiscalled
a.targetcosting.
b.insourcing.
c.outsourcing.
d.productharvesting.
23.Whichofthefollowingactivitieswithinanorganizationwouldbeleastlikelytobeoutsourced?
a.accounting
b.dataprocessing
c.transportation
d.productdesign
ANS:
DPTS:
1DIF:
EasyOBJ:
10-3
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
24.Anoutsidefirmselectedtoprovideservicestoanorganizationiscalleda
a.contractvendor.
b.lessee.
workorganization.
d.centralizedinsourcer.
ANS:
APTS:
1DIF:
EasyOBJ:
10-3
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
25.Fixedcostsareignoredinallocatingscarceresourcesbecause
a.theyaresunk.
b.theyareunaffectedbytheallocationofscarceresources.
c.therearenofixedcostsassociatedwithscarceresources.
d.fixedcostsonlyapplytolong-rundecisions.
ANS:
BPTS:
1DIF:
EasyOBJ:
10-4
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
26.Theminimumsellingpricethatshouldbeacceptableinaspecialordersituationisequaltototal
a.productioncost.
b.variableproductioncost.
c.variablecosts.
d.productioncostplusanormalprofitmargin.
ANS:
CPTS:
1DIF:
EasyOBJ:
10-6
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
27.Whichofthefollowingcostsisirrelevantinmakingadecisionaboutaspecialorderpriceifsomeofthecompanyfacilitiesarecurrentlyidle?
a.directlabor
b.equipmentdepreciation
c.variablecostofutilities
d.opportunitycostofproduction
ANS:
BPTS:
1DIF:
EasyOBJ:
10-6NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
28.Theprohibitscompaniesfrompricingproductsatdifferentamountsunlessthesedifferences
reflectdifferencesinthecosttomanufacture,sell,ordistributetheproducts.
a.InternalRevenueService
b.GovernmentalAccountingOffice
c.ShermanAntitrustAct
d.Robinson-PatmanAct
ANS:
DPTS:
1DIF:
EasyOBJ:
10-6
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
29.Anadhocsalesdiscountis
a.anallowanceforaninferiorqualityofmarketedgoods.
b.adiscountthatanadhoccommitteemustdecideon.
c.broughtaboutbycompetitivepressures.
d.noneoftheabove.
ANS:
CPTS:
1DIF:
ModerateOBJ:
10-6
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
DecisionModeling
30.Amanagerisattemptingtodeterminewhetherasegmentofthebusinessshouldbeeliminated.Thefocusofattentionforthisdecisionshouldbeon
a.thenetincomeshownonthesegment'sincomestatement.
b.salesminustota
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