成本会计 模拟题.docx

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