cost accounting test bankCh10Word下载.docx
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TermstoLearn:
costestimation
2.Allcostfunctionsarelinear.
FalseDifficulty:
costfunction
Allcostfunctionsarenotlinear,butforcost-behaviorestimationweassumesomearelinearwithinarelevantrange.
3.Whenestimatingacostfunction,costbehaviorcanbeapproximatedbyalinearcostfunctionwithintherelevantrange.
2Objective:
costestimation,costfunction
4.y=a+bXrepresentsthegeneralformofthelinearcostfunction.
2
costfunction,linearcostfunction
5.Alinearcostfunctioncanonlyrepresentfixedcostbehavior.
Alinearcostfunctioncanrepresentfixed,mixed,orvariablecostbehavior.
6.Inagraphicaldisplayofacostfunction,thesteepnessofthesloperepresentsthetotalamountoffixedcosts.
Inagraphicaldisplayofacostfunction,theconstantorthey-interceptrepresentstheamountoffixedcosts.
7.Thelongerthetimehorizon,themorelikelythatacostwillhaveafixedcostbehavior.
Thelongerthetimehorizon,themorelikelyacostwillbevariable.
8.Outsideoftherelevantrange,variableandfixedcost-behaviorpatternsmaychange.
9.Anylinearcostfunctioncanbegraphedbyknowingonlytheslopecoefficient.
Alinearfunctioncanbegraphediftheslopecoefficientandtheinterceptareknown.
10.Knowingtheproperrelevantrangeisessentialtoproperlyclassifycosts.
11.Itcanbeinferredthatwhenthereisahighcorrelationbetweentwovariables,oneisthecauseoftheother.
Itcannotbeinferredthatahighcorrelationbetweentwovariablesindicatesthatoneisthecauseoftheother.Ahighcorrelationsimplyindicatesthatthevariablesmovetogether.
12.Anexampleofaphysicalcause-and-effectrelationshipiswhenadditionalunitsofproductionincreasetotaldirectmaterialcosts.
13.Theindustrialengineeringmethodofcostestimationisbasedonopinionsfromvariousdepartmentsandisquickandoflowcosttoapply.
3
costestimation,industrialengineeringmethod
Theconferencemethodofcostestimationisbasedonopinionsfromvariousdepartmentsandisquickandoflowcosttoapply.
14.Theaccountanalysismethodofcostestimationclassifiesaccountcostsasfixed,mixed,orvariableusingqualitativejudgments.
costestimation,accountanalysismethod
15.Theindustrialengineeringmethodusesaformalmathematicalmethodtoidentifycause-and-effectrelationshipsamongpastdataobservations.
industrialengineeringmethod
Quantitativeanalysismethodsuseaformalmathematicalmethodtoidentifycause-and-effectrelationshipsamongpastdataobservations.
16.Individualcostitemsincludedinthedependentvariableshouldhavethesamecostdriverormorethanonecostfunctionshouldbeestimated.
4
costfunction,dependentvariable
17.Anexampleoftime-seriesdataistocompilemaintenancecostsoftwelvedifferentmanufacturingplantsincurredduring20X5.
Anexampleofcross-sectionaldataistocompilemaintenancecostsoftwelvedifferentmanufacturingplantsincurredduring20X5.
18.Evidenceofrelationshipsandextremeobservationsarehighlightedwhencostsandtheircostdriversareplottedgraphically.
19.Themostcommonformsofquantitativeanalysisaretheconferencemethodandtheaccountanalysismethod.
conferencemethod,accountanalysismethod,high-lowmethod,regressionanalysis
Themostcommonformsofquantitativeanalysisarethehigh-lowmethodandregressionanalysis.
20.Regressionanalysisreliesononlytwoobservationstoestimatealinearcostfunction.
regressionanalysis,linearcostfunction
Thehigh-lowmethodreliesononlytwoobservationstoestimatealinearcostfunction.
21.They-interceptofalinearcostfunctionisanaccuratecostassessmentofusingzeromachine-hours,evenifzeromachine-hoursisoutsideoftherelevantrange.
linearcostfunction
They-interceptofalinearcostfunctionisanaccuratecostassessmentofusingzeromachine-hours,onlyifzeromachine-hoursarewithintherelevantrange.
22.Apositiveslopeofaregressionlineindicatesthattotalcostsarelowerforhighervaluesofthecostdriver.
regressionanalysis
Apositiveslopeofaregressionlineindicatesthatcostsarehigherforhighervaluesofthecostdriver.
23.Thehigh-lowmethodismoreaccuratethantheregressionmethodofestimatingacostfunction.
high-lowmethod,regressionanalysis
Theregressionmethodismoreaccuratethanthehigh-lowmethodsinceitusesallavailabledatatoestimateacostfunction.
24.Ifinaccuratecostestimatesaretoohigh,thenacompanymayunknowinglyrewardamanagerforpoorperformance.
3Objective:
25.Simpleregressionisknownas“simple”becauseitismuchlesscomplexthanthehigh-lowmethod.
simpleregression
Simpleregressionisknownas“simple”becauseitincludesonlyonecostdriver.
26.Thehigh-lowmethodinvolveschoosingtheperiodofhighestcostdriveractivityandtheperiodoflowestcostdriveractivity.
high-lowmethod
27.Astrengthofthehigh-lowmethodofcostestimationisthatthehighpointandthelowpointarerepresentativeofalldatapoints.
Aweaknessofthehigh-lowmethodofcostestimationisthatthehighpointandthelowpointarenotrepresentativeofalldatapoints.
28.Inregressionanalysis,theterm“goodnessoffit”indicatesthestrengthoftherelationshipbetweenthecostdriverandthecosts.
29.Accuratecostestimationisusefulbothinunderstandingpastcostrelationshipsandasameansofpredictingcosts.
costestimation,costpredictions
30.Machine-hoursisamoreeconomicallyplausiblecostdriverofmachinemaintenancethannumberofdirectmanufacturinglabor-hours.
5
31.Thesmallertheverticaldifferencebetweenactualcostsandpredictedcoststhebetterthegoodnessoffit.
residualterm,regressionanalysis
32.Choosinganeconomicallyplausiblecostdriverforindirectcostsisfairlysimpleandknowledgeofoperationsisunnecessary.
Findinganeconomicallyplausiblecostdriverisnotalwayssimpleandmanytimesknowledgeofoperationsisnecessary.
33.Aflatorslightlyslopedregressionlineindicatesastrongrelationship.
Aflatorslightlyslopedregressionlineindicatesaweakrelationship.
34.Whenusinganactivity-basedcostingsystem,abatch-levelcostmusthaveabatch-levelcostdriver.
35.Economicplausibilityisanimportantcriterionforchoosingacostdriver.
36.Astepcostfunctionisanexampleofanonlinearcostfunction.
6
nonlinearcostfunction
37.Stepfixed-costfunctionsarevariableoverthelongrun.
nonlinearcostfunction,stepcostfunction
38.Anexampleofastepvariable-costfunctionisthecostofmaterial-handlinglaborwheninputsareacquiredindiscretequantities.
nonlinearcostfunction,stepcostfunction
39.Alearningcurvemeasurestheeffectoflearningonefficiency.
learningcurve
40.Plottinglearningcurveobservationsish