成本與管理會(huì)計(jì)期中考(附答案)

1、PART. TRUE OR FALSE(1×20)1. Actual costing uses the budgeted rate to allocate the indirect manufacturing costs.2. Unfavorable variances has effect of increasing operating income.3.Absorption costing “absorbs” only variable manufacturing costs.4. Under both variable and absorption costing, all v

2、ariable manufacturing costs are inventoriable costs.5. A final product or service has only one cost driver.6.In a master budget, the production budget is prepared based on the sale budget.7.If a company undercosts one of its products, then it will overcost at least one of its other products.8. Cost

3、drivers are usually expressed in dollars.9. If the selling price per unit is $20 and the contribution margin percentage is 30%, then the variable cost per unit must be $6.10. Cost objects may be jobs, products, or customers.11. The actual costs are the costs that incurred before.12. Cost of Goods Ma

4、nufactured is just the Manufacturing cost.13. Cost can be measured by dollars, yen, and euros, as well as other currencies.14. Depreciation of assembly equipment is an example of a direct cost.15. A merchandising company has direct materials inventory.16. The contribution-margin format of the income

5、 statement is used with absorption costing.17. Variable costing includes all variable costs both manufacturing and nonmanufacturing in inventory.18.Activity-based costing helps identify various activities that explain why costs are incurred. 19. A final product or service has only one cost driver.20

6、. Knowing the proper relevant range is essential to properly classify costs. PART. SINGAL CHOICE(2×20)1.Variable costs:a.are always indirect costsb.increase in total when the actual level of activity increasesc.include most personnel costs and depreciation on machineryd.can always be traced dir

7、ectly to the cost object2.Within the relevant range, if there is a change in the level of the cost driver, then a.total fixed costs and total variable costs will changeb.total fixed costs and total variable costs will remain the samec.total fixed costs will remain the same and total variable costs w

8、ill changed.total fixed costs will change and total variable costs will remain the same3.Cost-volume-profit analysis is used PRIMARILY by management:a.as a planning toolb.for control purposesc.to prepare external financial statementsd.to attain accurate financial results4.Contribution margin equals:

9、a.revenues minus period costsb.revenues minus product costsc.revenues minus variable costsd.revenues minus fixed costs5.Kaisers Kraft Korner sells a single product. 7,000 units were sold resulting in $70,000 of sales revenue, $28,000 of variable costs, and $12,000 of fixed costs.Contribution margin

10、per unit isa.$4.00b.$4.29c.$6.00d.None of these answers are correct.6.At the breakeven point of 200 units, variable costs total $400 and fixed costs total $600. The 201st unit sold will contribute _ to profits.a.$1b.$2c.$3d.$57.The breakeven point is the activity level where:a.revenues equal fixed c

11、ostsb.revenues equal variable costsc.contribution margin equals variable costsd.revenues equal the sum of variable and fixed costs8.Companies should ONLY produce and sell units as long as:a.there is customer demand for the productb.the competition allows itc.the revenue from an additional unit excee

12、ds the cost of producing itd.there is a generous supply of low-cost direct materials9.Three major influences on pricing decisions are:petition, costs, and petition, demand, and production efficiencyc.continuous improvement, customer satisfaction, and supplyd.variable costs, fixed

13、costs, and mixed costs10.Activity-based budgeting: a.uses one cost driver such as direct labor-hoursb.uses only output-based cost drivers such as units soldc.focuses on activities necessary to produce and sell products and servicesd.classifies costs by functional area within the value chain11.Kaiser

14、s Kraft Korner sells a single product. 7,000 units were sold resulting in $70,000 of sales revenue, $28,000 of variable costs, and $12,000 of fixed costs.Breakeven point in units is:a.2,000 unitsb.3,000 unitsc.5,000 unitsd.None of these answers are correct.12.Job costing information is used: a.to de

15、velop strategiesb.to make pricing decisionsc.for external financial reportingd.All of these answers are correct. 13.Which of the following statements related to assumptions about estimating linear cost functions is FALSE?:a.Variations in a single cost driver explain variations in total costs.b.A cos

16、t object is anything for which a separate measurement of costs is desired.c.A linear function approximates cost behavior within the relevant range of the cost driver.d.A high correlation between two variables ensures that a cause-and-effect relationship exists.14.Cost-volume-profit analysis assumes

17、all of the following EXCEPT:a.all costs are variable or fixedb.units manufactured equal units soldc.total variable costs remain the same over the relevant ranged.total fixed costs remain the same over the relevant range15.Design of an ABC system requires: a.that the job bid process be redesignedb.th

18、at a cause-and-effect relationship exists between resource costs and individual activitiesc.an adjustment to product mixd.Both b and c are correct.16.Which of the following is an equation of a variable cost function? a.y = bb.y = a + bX c.y = bXd.y = a17.The general term used to identify both the tr

19、acing and the allocation of accumulated costs to a cost object is:a.cost accumulationb.cost assignmentc.cost tracingd.conversion costing18.Operating budgets include the:a.budgeted balance sheetb.budgeted income statementc.capital expenditures budgetd.budgeted statement of cash flows19. Financial acc

20、ounting:a.focuses on the future and includes activities such as preparing next year's operating budget b.must comply with GAAP (generally accepted accounting principles) c.reports include detailed information on the various operating segments of the business such as product lines or departmentsd

21、.is prepared for the use of department heads and other employees 20.Management accounting:a.focuses on estimating future revenues, costs, and other measures to forecast activities and their vides information about the company as a wholec.reports information that has occurred in the past

22、that is verifiable and vides information that is generally available only on a quarterly or annual basisPART. SHORT ANSWER(4×5) 1.A costing system that identifies the different job oredrs as different cost objects.2. The range of activity over which the relationship between cost an

23、d activity is valid.3. Goods fully completed but not yet sold4. The relationship between sales and variable costs5. These costs contain elements of both fixed- and variable-cost behavior6. A sacrifice or consumption of resources for a particular purpose7. Costs that can be traced specifically and ex

24、clusively to the manufactured goods in an economically feasible way8.The organization its purpose is not to earn money but to provide the service to the public.9. The level of sales at which the contribution margin equals the fixed cost10. system accounting for mass production of identical or simila

25、r productsPART. CALCULATION1.Stephanies Stuffed Animals reported the following:Revenues $1,000Variable manufacturing costs$ 200Variable nonmanufacturing costs$ 230Fixed manufacturing costs$ 150Fixed nonmanufacturing costs$ 140Required:a.Compute contribution margin.b.Compute gross margin.c.Compute op

26、erating income.2. Jarvis Golf Company sells a special putter for $20 each. In March, it sold 28,000 putters while manufacturing 30,000. There was no beginning inventory on March 1. Production information for March was:Direct manufacturing labor per unit15 minutesFixed selling and administrative cost

27、s$ 40,000Fixed manufacturing overhead132,000Direct materials cost per unit2Direct manufacturing labor per hour24Variable manufacturing overhead per unit4Variable selling expenses per unit2Required:a.Compute the cost per unit under both absorption and variable costing.b.Compute the ending inventories

28、 under both absorption and variable costing.c.Compute operating income under both absorption and variable costing.PART. TRUE/FALSE(1.5×20)1.F 2.F 3.F 4.T 5.F 6.T 7.T 8.F 9.F 10.T 11.T 12. F 13.T 14.F 15.F16.F 17. F 18.T 19.F 20.TPART. SINGAL CHOICE(1.5×20)1.b 2.c 3.a 4.c 5.c 6.c 7.d 8.c 9.

29、a 10.c11.a 12.d 13.d 14.c 15.b16.c 17.b 18b 19.b 20.a PART. SHORT ANSWER(2×10) Job costing Relevant rangeFinished goods inventoryContribution marginMixed costsCostDirect costsNon Profit Organization Breakeven pointProcess-CostingPART. CALCULATION(9+11)1.a.Contribution margin $1,000 $200 $230 = $570b.Gross margin $1,000 $200 $150 = $650c.Operating income $1000 $200 $230 $150 $140 = $2802. a.AbsorptionV