361Chapter5MCSolutionsWord版.docx
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361Chapter5MCSolutionsWord版.docx
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361Chapter5MCSolutionsWord版
Chapter5—JobOrderCosting
MULTIPLECHOICE
1.Whichofthefollowingorganizationswouldbemostlikelytouseajob-ordercostingsystem?
a.
theloandepartmentofabank
b.
thecheckclearingdepartmentofabank
c.
amanufacturerofprocessedcheesefood
d.
amanufacturerofvideocassettetapes
ANS:
APTS:
1DIF:
ModerateOBJ:
5-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
2.Whenjob-ordercostingisused,theprimaryfocalpointofcostaccumulationisthe
a.
department.
b.
supervisor.
c.
item.
d.
job.
ANS:
DPTS:
1DIF:
EasyOBJ:
5-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
3.Inajob-ordercostingsystem,
a.
standardscannotbeused.
b.
anaveragecostperunitwithinajobcannotbecomputed.
c.
costsareaccumulatedbydepartmentsandaveragedamongalljobs.
d.
overheadistypicallyassignedtojobsonthebasisofsomecostdriver.
ANS:
DPTS:
1DIF:
EasyOBJ:
5-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
4.Whatisthebestcostaccumulationproceduretousewhenmanybatches,eachdifferingastoproductspecifications,areproduced?
a.
job-order
b.
process
c.
actual
d.
standard
ANS:
APTS:
1DIF:
EasyOBJ:
5-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
5.Whichofthefollowingcouldnotbeusedinjob-ordercosting?
a.
standards
b.
anaveragecostperunitforalljobs
c.
normalcosting
d.
overheadallocationbasedonthejob'sdirectlaborhours
ANS:
BPTS:
1DIF:
EasyOBJ:
5-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
6.Whichofthefollowingcostingsystemsallowsmanagementtoquicklyrecognizematerials,labor,andoverheadvariancesandtakemeasurestocorrectthem?
ActualCostSystem
NormalCostSystem
a.
yesyes
b.
yesno
c.
noyes
d.
nono
ANS:
DPTS:
1DIF:
EasyOBJ:
5-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
7.Whichofthefollowingcostingmethodsofvaluationareacceptableinajob-ordercostingsystem?
Actual
Material
Cost
Standard
Material
Cost
Actual
Labor
Cost
Predetermined
Overhead
Cost
a.
yesyesnoyes
b.
yesnoyesno
c.
noyesyesyes
d.
yesyesyesyes
ANS:
DPTS:
1DIF:
EasyOBJ:
5-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
8.Inanormalcostsystem,adebittoWorkinProcessInventorywouldnotbemadefor
a.
actualoverhead.
b.
appliedoverhead.
c.
actualdirectmaterial.
d.
actualdirectlabor.
ANS:
APTS:
1DIF:
EasyOBJ:
5-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
9.Afterthecompletionofproduction,standardandactualcostsarecomparedtodeterminethe____oftheproductionprocess.
a.
effectiveness
b.
complexity
c.
homogeneity
d.
efficiency
ANS:
DPTS:
1DIF:
EasyOBJ:
5-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
10.Acompanyproducingwhichofthefollowingwouldbemostlikelytouseapricestandardformaterial?
a.
furniture
b.
NFL-logojackets
c.
custom-madepictureframes
d.
noneoftheabove
ANS:
BPTS:
1DIF:
ModerateOBJ:
5-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
11.Knowingspecificjobcostsenablesmanagerstoeffectivelyperformwhichofthefollowingtasks?
a.
estimatecostsoffuturejobs.
b.
establishrealisticjobsellingprices.
c.
evaluatejobperformance.
d.
allanswersarecorrect.
ANS:
DPTS:
1DIF:
EasyOBJ:
5-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
12.Ajob-ordercostingsystemislikelytoprovidebetter
(1)
inventoryvaluationsforfinancialstatements.
(2)
controloverinventory.
(3)
informationaboutabilitytoacceptadditionalproductionwork.
(1)
(2)
(3)
a.
yesnono
b.
noyesyes
c.
nonono
d.
yesyesyes
ANS:
DPTS:
1DIF:
DifficultOBJ:
5-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
13.Thetrendinjob-ordercostingisto
a.
eliminatethedataentryfunctionfortheaccountingsystem.
b.
automatethedatacollectionanddataentryfunctions.
c.
useaccountingsoftwaretochangethefocalpointofthejob-ordersystem.
d.
createanIntranettoshareinformationbetweencompetitors.
ANS:
BPTS:
1DIF:
EasyOBJ:
5-5
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
14.job-ordercostingandprocesscostinghavewhichofthefollowingcharacteristics?
Job-orderCosting
ProcessCosting
a.
homogeneousproductsheterogeneousproducts
andlargequantitiesandsmallquantities
b.
homogeneousproductsheterogeneousproducts
andsmallquantitiesandlargequantities
c.
heterogeneousproductshomogeneousproducts
andlargequantitiesandlargequantities
d.
heterogeneousproductshomogeneousproducts
andsmallquantitiesandlargequantities
ANS:
DPTS:
1DIF:
EasyOBJ:
5-1
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
15.Thesourcedocumentthatrecordstheamountofrawmaterialthathasbeenrequestedbyproductionisthe
a.
job-ordercostsheet.
b.
billoflading.
c.
interofficememo.
d.
materialrequisition.
ANS:
DPTS:
1DIF:
EasyOBJ:
5-2
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
16.Amaterialrequisitionformshouldshowallofthefollowinginformationexcept
a.
jobnumber.
b.
quantityrequired.
c.
unitcost.
d.
purchaseordernumber.
ANS:
DPTS:
1DIF:
EasyOBJ:
5-2
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
17.Whichofthefollowingstatementsaboutjob-ordercostsheetsistrue?
a.
Alljob-ordercostsheetsserveasthegeneralledgercontrolaccountforWorkinProcessInventory.
b.
Job-ordercostsheetscanserveassubsidiaryledgerinformationforbothWorkinProcessInventoryandFinishedGoodsInventory.
c.
Ifmaterialrequisitionformsareused,job-ordercostsheetsdonotneedtobemaintained.
d.
Job-ordercostsheetsshowcostsfordirectmaterialanddirectlabor,butnotformanufacturingoverheadsinceitisanappliedamount.
ANS:
BPTS:
1DIF:
EasyOBJ:
5-2
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
18.Theprimaryaccountingdocumentinajob-ordercostingsystemisa(n)
a.
billofmaterials.
b.
job-ordercostsheet.
c.
employeetimesheet.
d.
materialsrequisition.
ANS:
BPTS:
1DIF:
EasyOBJ:
5-2
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
19.Thecostsheetsforincompletejobsattheendoftheperiodcomprisethesubsidiaryledgerfor
a.
FinishedGoodsInventory.
b.
RawMaterialInventory.
c.
WorkinProcessInventory.
d.
SuppliesInventory.
ANS:
CPTS:
1DIF:
EasyOBJ:
5-2
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
20.The____providesmanagementwithahistoricalsummationoftotalcostsforagivenproduct.
a.
job-ordercostsheet
b.
employeetimesheet
c.
materialrequisitionform
d.
billoflading
ANS:
APTS:
1DIF:
EasyOBJ:
5-2
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
21.Thesourcedocumentthatrecordstheamountoftimeanemployeeworkedonajobandhis/herpayrateisthe
a.
job-ordercostsheet.
b.
employeetimesheet.
c.
interofficememo.
d.
laborrequisitionform.
ANS:
BPTS:
1DIF:
EasyOBJ:
5-2
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
22.AcredittoWorkinProcessInventoryrepresents
a.
workstillinprocess.
b.
rawmaterialputintoproduction.
c.
theapplicationofoverheadtoproduction.
d.
thetransferofcompleteditemstoFinishedGoodsInventory.
ANS:
DPTS:
1DIF:
EasyOBJ:
5-3
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
23.Inajob-ordercostingsystem,thedollaramountoftheentrythatdebitsFinishedGoodsInventoryandcreditsWorkinProcessInventoryisthesumofthecostschargedtoalljobs
a.
startedinprocessduringtheperiod.
b.
inprocessduringtheperiod.
c.
completedandsoldduringtheperiod.
d.
completedduringtheperiod.
ANS:
DPTS:
1DIF:
EasyOBJ:
5-3
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
24.TotalmanufacturingcostsfortheyearplusbeginningWorkinProcessInventorycostequals
a.
costofgoodsmanufacturedintheyear.
b.
endingWorkinProcessInventory.
c.
totalmanufacturingcoststoaccountfor.
d.
costofgoodsavailableforsale.
ANS:
CPTS:
1DIF:
EasyOBJ:
5-3
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
25.Whichofthefollowingwouldbeleastlikelytobesupportedbysubsidiaryaccountsorledgersinacompanythatemploysajob-ordercostingsystem?
a.
WorkinProcessInventory
b.
RawMaterialInventory
c.
AccountsPayable
d.
SuppliesInventory
ANS:
DPTS:
1DIF:
EasyOBJ:
5-3
NAT:
AACSB:
ReflectiveThinking
LOC:
AICPAFunctionalCompetencies:
Measurement,Reporting
26.AjournalentryincludesadebittoWorkinProces
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