Cost Accounting14EChapter 05Word文档下载推荐.docx

Cost Accounting14EChapter 05Word文档下载推荐.docx

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Diff:

1

Terms:

activity-basedcosting（ABC）

Objective:

AACSB:

Reflectivethinking

2）Overcostingaparticularproductmayresultin:

A）lossofmarketshare

B）pricingtheproducttoolow

C）operatingefficiencies

D）understatingtotalproductcosts

2

productundercosting

Analyticalskills

3）Undercostingofaproductismostlikelytoresultfrom:

A）misallocatingdirectlaborcosts

B）underpricingtheproduct

C）overcostinganotherproduct

D）overstatingtotalproductcosts

C

productovercosting

4）Acompanyproducesthreeproducts;

ifoneproductisovercostedthen:

A）oneproductisundercosted

B）oneortwoproductsareundercosted

C）twoproductsareundercosted

D）noproductsareundercosted

B

product-costcross-subsidization

Ethicalreasoning

5）Misleadingcostnumbersaremostlikelytheresultofmisallocating:

A）directmaterialcosts

B）directmanufacturinglaborcosts

C）indirectcosts

D）Alloftheseanswersarecorrect.

6）Anacceleratedneedforrefinedcostsystemsisdueto:

A）globalmonopolies

B）risingprices

C）intensecompetition

D）ashifttowardincreaseddirectcosts

7）Theuseofasingleindirect-costrateismorelikelyto:

A）undercosthigh-volumesimpleproducts

B）undercostlow-volumecomplexproducts

C）undercostlower-pricedproducts

D）BothBandCarecorrect.

8）Uniformlyassigningthecostsofresourcestocostobjectswhenthoseresourcesareactuallyusedinanonuniformwayiscalled:

A）overcosting

B）undercosting

C）peanut-buttercosting

D）departmentcosting

9）Atop-sellingproductmightactuallyresultinlossesforthecompany.

TRUE

10）Companiesthatovercostproductswillmostlikelylosemarketshare.

11）Ifcompaniesincreasemarketshareinagivenproductlinebecausetheirreportedcostsarelessthantheiractualcosts,theywillbecomemoreprofitableinthelongrun.

FALSE

Explanation:

Theactualcostswillincreasebecauseoftheadditionalsalesandtheotherproductlines（whicharesubsidizingtheundercostingofthegrowingproductline）willsuffer.Thenetresultwillbethecompanyhavingaloweroperatingincomethanitcouldhavehad.

12）Asproductdiversityandindirectcostsincrease,itisusuallybesttoswitchawayfromanactivitybasedcostsystemtoabroadaveragingsystem.

Thepotentialsignificantdifferencesincostsrelatingtotheproductsaswellasthemagnitudeofindirectcostsmakeamorerefinedcostingsystemmoreappropriate.

13）Ifacompanyovercostsoneofitsproducts,thenitwillundercostatleastoneofitsotherproducts.

14）Explainhowatop-sellingproductmayactuallyresultinlossesforthecompany.

Ifindirectcostsarenotproperlyallocatedtotheproducts,aproductmayappeartocostlessthanitactuallydoescosttoproduce.Ifthesellingpriceisbasedontheselowercosts,thesellingpricemayactuallybelowerthanthecostsneededtoproducetheproductresultinginlossesforthecompany.

Objective5.2

1）Refiningacostsystemincludes:

A）classifyingasmanycostsasindirectcostsasisfeasible

B）creatingasmanycostpoolsaspossible

C）identifyingtheactivitiesinvolvedinaprocess

D）seekingalesserlevelofdetail

activity

2）Greaterindirectcostsareassociatedwith:

A）specializedengineeringdrawings

B）qualityspecificationsandtesting

C）inventoriedmaterialsandmaterialcontrolsystems

D

3）DesignofanABCsystemrequires:

A）thatthejobbidprocessberedesigned

B）thatacause-and-effectrelationshipexistsbetweenresourcecostsandindividualactivities

C）anadjustmenttoproductmix

4）Directcostsplusindirectcostsequaltotalcosts.

5）Whenrefiningacostingsystem,acompanyshouldclassifyasmanycostsaspossibleasdirectcosts.

refinedcostingsystem

6）Inahomogeneouscostpool,allcostshaveasimilarcause-and-effectrelationshipwiththecost-allocationbase.

7）Indirectlaboranddistributioncostswouldmostlikelybeinthesameactivity-costpool.

Indirectlaboranddistributioncostswouldnotbeinthesameactivity-costpoolbecausetheircostdriversareverydissimilar.Acostdriverofindirectlaborwouldincludedirectlaborhours,whileacostdriverofdistributioncostswouldinclude,forexample,cubicfeetofcargomoved.

8）Directtracingofcostsimprovescostaccuracy.

9）Acost-allocationbaseisanecessaryelementwhenusingastrategythatwillrefineacostingsystem.

10）Whatarethefactorsthatarecausingmanycompaniestorefinetheircostingsystemstoobtainmoreaccuratemeasuresofthecostsoftheirproducts?

Thefirstcauseisincreasingproductdiversity.Companiesareproducingmanymoreproductsthantheyusedto,placingstrainsonmoresimple,oldercostsystems.Asecondcauseistheoverallincreasedinindirectcostsandtherelativedeclineofdirectcosts.Theindirectnatureofthesecostsrequiresallocation,andanyinaccuraciesinallocationofthesecostsbecomemagnifiedastheseindirectcostsincrease.Athirdcausewouldbeadvancesininformationtechnologythatmakescomplexallocationofindirectcostslessburdensome.Finally,increasedcompetitionfrombothnationalandinternationalcompetitorshasresultedinmorepressuretoreducecosts,aswellasincreasingtheneedforandvalueofinformationtosupportresponsestothesenewthreats.

Objective5.3

1）ABCsystemscreate:

A）onelargecostpool

B）homogenousactivity-relatedcostpools

C）activity-costpoolswithabroadfocus

D）activity-costpoolscontainingmanydirectcosts

3

2）Logicalcostallocationbasesinclude:

A）cubicfeetofpackagesmovedtomeasuredistributionactivity

B）numberofsetupsusedtomeasuresetupactivity

C）numberofdesignhourstomeasuredesigningactivity

3）ABCsystems:

A）highlightthedifferentlevelsofactivities

B）limitcostdriverstounitsofoutput

C）allocatecostsbasedontheoveralllevelofactivity

D）generallyundercostcomplexproducts

4）Asingleindirect-costratemaydistortproductcostsbecause:

A）thereisanassumptionthatallsupportactivitiesaffectallproducts

B）itrecognizesspecificactivitiesthatarerequiredtoproduceaproduct

C）costsarenotconsistentlyrecorded

D）itfailstomeasurethecorrectamountoftotalcosts

Communication

5）Traditionalcostsystemsdistortproductcostsbecause:

A）theydonotknowhowtoidentifytheappropriateunits

B）competitivepricingisignored

C）theyemphasizefinancialaccountingrequirements

D）theyapplyaveragesupportcoststoeachunitofproduct

6）Whichofthefollowingstatementsaboutactivity-basedcostingisNOTtrue?

A）Activity-basedcostingisusefulforallocatingmarketinganddistribut