成本会计 模拟题.docx
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成本会计模拟题
Business2101–ManagerialAccounting
ShelleyMartin,CA–Intersession2011
FacultyofBusinessAdministration
MemorialUniversityofNewfoundland
MidtermExam#1–20%Version2May2011
STUDENTNAME(print):
STUDENTSIGNATURE:
STUDENTID#:
Instructions
1.Youhave75minutestocompletethisexamination.
2.Theexaminationconsistsof14pages(includingthiscoverpage).Pleaseensurethatyou
haveallofthepages.
3.CirclethemostappropriateanswerforthePartImultiplechoicequestions.
4.AnswerthePartII,IIIandIVlong-answerquestionsonthespaceprovided.
5.Non-programmablecalculatorsaretheonlyacceptableaidforthisexamination.
6.Illegibleanswerswillnotbegraded.Point-formanswersareacceptableprovidedthat
theyarecompleteenoughtobeunderstood.
7.Attheendofthisexamination,pleasesubmittheentireexaminationpapertothe
invigilator.
8.Failuretostopwritingoncetheexamperiodendswillresultinthedisqualificationof
yourexamandazerogradewillbeassignedtoyourmid-term.
ExamPart
SuggestedTime
MarksAvailable
I
20minutes
27
II
19minutes
25
III
15minutes
20
IV
21minutes
28
Total
75minutes
100
PartI–27Marks(estimatedtime–20minutes)
Circlethemostappropriateresponse.Markswillnotbesubtractedforincorrectanswers.
Unclearanswerswillnotbegraded.Eachquestionisworth1.5marks.
1.ManagersofservicedepartmentsneedallofthefollowinginformationEXCEPT:
a.efficiencydataonworkperformance
b.qualitydataonworkperformance
c.profitabilitydataofthewholecompany
d.profitabilitydataoftheservicedepartment
2.ManagementaccountinginformationisBESTdescribedas:
a.providingasignalthatsomethingiswrong
b.identifyingandhelpingtoexplainwhatiswrong
c.simplysummarizinginformation,butgivingnoindicationthatanythingiswrong
d.measuringoverallfinancialperformance
3.Traditionalcostsystemsdistortproductcostsbecause:
a.theydonotknowhowtoidentifytheappropriateunits
b.excesscapacitycostsareignored
c.theyemphasizefinancialaccountingrequirements
d.theyuseunit-levelcostdriverstoallocatesupportcoststoproducts
4.FosteringacultureofhighethicalstandardsincludesallofthefollowingEXCEPT:
a.followingthegoodexamplesetbyseniormanagement
b.communicatingtoemployeesabeliefsystemthatinspiresandpromotescommitment
totheorganization’scorevalues
c.followingthegeneralexamplessetbyfront-lineemployees
d.communicatingtoallemployeesaboundarysystemthatstateswhatactionswillnot
betolerated
5.Activity-basedmanagement(ABM)includesdecisionsaboutallofthefollowingEXCEPT:
a.pricingandproductmix
b.smoothingcosts
c.reducingcosts
d.improvingefficiencyofactivities
PartI
6.Thepredeterminedsupportcostdriverrateiscalculatedusing__________supportcosts.
a.actual
b.allocated
c.direct
d.estimated
7.Theopportunitycost(s):
a.ofaresourcewithexcesscapacityiszero
b.shouldbemaximizedbyorganizations
c.aremostimportanttofinancialaccountants
d.arerecordedasanexpenseintheaccountingrecords
8.Eachcostpool:
a.utilizesaseparatecostdriverrate
b.isasubsetoftotallabourcosts
c.canbeassociatedwithseveralnormallevelsofactivity
d.Alloftheabovearecorrect.
9.Tosustaintheprofitabilityofaproduct,thelistpriceofaproductmustcoverits:
a.variablecosts
b.fixedcosts
c.indirectcosts
d.long-runcosts
10.AllofthefollowingsituationscausemajordeterrentstoeffectiveABCimplementation
EXCEPTwhen:
a.theABCsystemlacksaclearbusinesspurpose
b.theABCsystem’smodeldesignispoor
c.theABCconsultantsfailtoadapttheABCsystemadequatelytothespecificsofthe
organization
d.seniormanagementcommunicatestheircommitmenttothechange
PartI
11.WhichofthefollowingisasignthatanABCsystemmaybeuseful?
a.Therearesmallamountsofsupportcosts.
b.Productsmakediversedemandsonresourcesbecauseofdifferencesinvolume,
processsteps,batchsize,orcomplexity.
c.Productsacompanyislesssuitedtoproduceandsellshownoprofits.
d.Operationsthroughouttheplantarefairlysimilar.
12.Whatanorganizationtriestodelivertocustomersiscalleditsvalueproposition,which
includestheelementsof:
a.priceandquality.
b.price,quality,andfunctionalityandfeatures.
c.price,quality,functionalityandfeatures,andservice.
d.price,quality,functionalityandfeatures,service,andindustrystandards.
13.Ifabusinessoffersbothroutineandspecializedservices,asinglecostdriverratewillover-
cost:
a.theroutineservice
b.thespecializedservice
c.boththeroutineandthespecializedservice
d.neithertheroutinenorthespecializedservice
14.Managementaccountinginformationcanbeusedforallofthefollowingexcept:
a.calculatethecostofaproductorservice.
b.evaluatetheperformanceofacompany.
c.projectmaterialsneeds.
d.evaluatethemarketpriceofthestock.
15.Whichofthefollowingmanufacturedproductswoulduseprocesscosting?
a.poloshirtsimprintedwithindividualizedlogos
b.picnicpackscontainingketchup,mustard,andrelish
c.customizedboatsusedforracing
d.handmadestained-glasslampsforrecreationalrooms
PartI
16.Indirectmanufacturingcosts:
a.canbetracedtotheproductthatcreatedthecosts
b.mayhaveacause-and-effectrelationshipwithcapacityratherthanwithindividual
unitsofproduction
c.generallyincludethecostofmaterialandthecostoflabor
d.areincludedinperiodcosts
17.Logicalcostallocationbasesforsupportcostsinclude:
a.cubicfeetofpackagesmovedtomeasuredistributionactivity
b.machinehourstomeasuresetupactivity
c.directmanufacturinglabourhourstomeasureproductdesigningactivity
d.Alloftheabovearecorrect.
18.Ajobcostsheetusesinformationfrom:
a.thesalesinvoiceregardingthepricingofthejob
b.apurchaseordertorecordrawmaterialpurchasesfromsuppliers
c.areceivingreportthatindicatesthetypeandquantityofeachitemreceivedinan
orderfromasupplier
d.alabourtimecardtorecordanemployee’swagerateandhoursspentonaparticular
job
PartII–25marks(estimatedtime–19minutes)
ZoombaCompanyproducesandsells60,000boxesofspecialtyfoodseachyear.Eachbox
containsthesameassortmentoffood.Thecompanyhascomputedthefollowingannualcosts:
Variableproductioncosts$200,000
Fixedproductioncosts240,000
Variablesellingcosts160,000
Fixedsellingandadministrativecosts100,000
Totalcosts$700,000
Zoombanormallycharges$16perbox.
Required:
A)Determinethebreak-evennumberofboxesperyearforZoombaCompany.(6marks)
PartII
B)Anewdistributorhasofferedtopurchase5,000boxesataspecialpriceof$12perbox.
Zoombawillincuradditionalpackagingcostsof$1.5perboxtocompletethisorder;
howeveritwillsaveanyvariablesellingcosts.AssumingZoombahassurpluscapacityto
producetheorder,basedonquantitativeanalysisonlyshouldZoombaCompanyaccept
thisorder?
(7marks)
PartII
C)AssumethesameofferhasbeenmadetoZoombaCompanyasinpartB,butnowZoomba
hassurpluscapacitytoproduceonly2,000boxes.Basedonquantitativeanalysisonly,
shouldZoombaCompanyacceptthisorder?
(6marks)
PartII
D)Discussatleast3qualitative(non-financial)considerationsZoombaCompanyshouldthink
aboutbeforeacceptingtheorderinpartC.(6marks)
PartIII–20marks(estimatedtime–15minutes)
PoseidonCompanyproducescustomizedsailboats.Thecompanyusesajobordercosting
system.Itsplanthasthreeproductiondepartments:
cutting,machining,andassembly.The
estimatedmanufacturingsupportcostsanddirectlabourcostforeachdepartmentfor2011areas
follows:
CuttingMachiningAssembly
ManufacturingSupportcost$500,000$600,000$150,000
Directlabourcost$200,000$200,000$300,000
InMay2011,thecompanyreceivedaninvitationfromDuluthSailingCompanytobidona
luxurysailboatthatmustbedeliveredbytheendofSeptember2011.ThisDuluthjobwould
requiredirectmanufacturingcostsinthethreedepartmentsasfollows:
CuttingMachiningAssembly
Directmaterialcost$10,000$700$5,400
Directlabourcost$9,000$3,000$13,000
Poseidonaddsa50%mark-uptodeterminebidprices.
Required:
Onthisandthenextpage,prepareajobbidsheetfortheDuluthSailingCompanyjob,assuming
Poseidonusesdepartmentalratestoallocatesupportcosts(basedondirectlabourcostforeach
department).
PartIII
PartIV–28marks(estimatedtime–21minutes)
BrilliantAccentsCompanymanufacturesandsellsthreestylesofkitchenfaucets:
brass,
chrome,andwhite.Alltypesoffaucetsareproducedinbatchesof1,000.Thefollowing
informationisestimatedforthecurrentyear:
BRASSCHROMEWHITE
Projectedsalesinunits60,000100,00080,000
Sellingprice(perunit)$37$18$28
Directmaterials(perunit)$8$4$8
Directlabour(perunit)$15$3$9
Supportcostperunit,basedondirect
labourhours(currentcostsystem)$12$3$9
Hoursper1000-unitbatch:
Setuphours1.50.252.0
Inspectionhours403030
Supportcos