cost accounting test bankCh10Word下载.docx

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