cost accounting chapter 02.docx
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costaccountingchapter02
CostAccounting,13e（Horngrenetal.）
Chapter2AnIntroductiontoCostTermsandPurposes
59）Costobjectsinclude:
A）products
B）customers
C）departments
D）Alloftheseanswersarecorrect.
Answer:
D
Diff:
2
Terms:
costobject
Objective:
1
AACSB:
Reflectivethinking
60）Actualcostsare:
A）thecostsincurred
B）budgetedcosts
C）estimatedcosts
D）forecastedcosts
Answer:
A
Diff:
1
Terms:
actualcosting
Objective:
1
AACSB:
Reflectivethinking
61）Thegeneraltermusedtoidentifyboththetracingandtheallocationofaccumulatedcoststoacostobjectis:
A）costaccumulation
B）costassignment
C）costtracing
D）conversioncosting
Answer:
B
Diff:
1
Terms:
costassignment
Objective:
1
AACSB:
Reflectivethinking
62）Inordertomakedecisions,managersneedtoknow:
A）actualcosts
B）budgetedcosts
C）bothcosts
D）neithercost
Answer:
C
Diff:
1
Terms:
budgetedcosts
Objective:
1
AACSB:
Ethicalreasoning
63）Thecollectionofaccountingdatainsomeorganizedwayis:
A）costaccumulation
B）costassignment
C）costtracing
D）conversioncosting
Answer:
A
Diff:
1
Terms:
costaccumulation
Objective:
1
AACSB:
Reflectivethinking
64）Budgetedcostsare:
A）thecostsincurredthisyear
B）thecostsincurredlastyear
C）plannedorforecastedcosts
D）competitor'scosts
Answer:
C
Diff:
2
Terms:
budgetedcosts
Objective:
1
AACSB:
Reflectivethinking
65）Costassignmentis:
A）alwaysarbitrary
B）includestracingandallocating
C）thesameascostaccumulation
D）findingthedifferencebetweenbudgetedandactualcosts
Answer:
B
Diff:
2
Terms:
costassignment
Objective:
1
AACSB:
Reflectivethinking
66）Acostsystemdeterminesthecostofacostobjectby:
A）accumulatingandthenassigningcosts
B）accumulatingcosts
C）assigningandthenaccumulatingcosts
D）assigningcosts
Answer:
A
Diff:
2
Terms:
costaccumulation
Objective:
1
AACSB:
Reflectivethinking
67）WhichofthefollowingdoesNOTaffectthedirect/indirectclassificationofacost?
A）thelevelofbudgetedprofitforthenextyear
B）thematerialityofthecostinquestion
C）availabletechnologytogatherinformationaboutthecost
D）thedesignoftheoperation
Answer:
A
Diff:
2
Terms:
directcostsofacostobject,indirectcostsofacostobject
Objective:
2
AACSB:
Analyticalskills
68）Whichofthefollowingstatementsaboutthedirect/indirectcostclassificationisNOTtrue?
A）Directcostsarealwaystraced.
B）Directcostsarealwaysallocated.
C）Thedesignofoperationsaffectsthedirect/indirectclassification.
D）Thedirect/indirectclassificationdependsonthechoiceofcostobject.
Answer:
B
Diff:
2
Terms:
directcostsofacostobject,indirectcostsofacostobject
Objective:
2
AACSB:
Analyticalskills
69）Costtracingis:
A）theassignmentofdirectcoststothechosencostobject
B）afunctionofcostallocation
C）theprocessoftrackingbothdirectandindirectcostsassociatedwithacostobject
D）theprocessofdeterminingtheactualcostofthecostobject
Answer:
A
Diff:
2
Terms:
costtracing
Objective:
2
AACSB:
Reflectivethinking
70）Costallocationis:
A）theprocessoftrackingbothdirectandindirectcostsassociatedwithacostobject
B）theprocessofdeterminingtheactualcostofthecostobject
C）theassignmentofindirectcoststothechosencostobject
D）afunctionofcosttracing
Answer:
C
Diff:
2
Terms:
costallocation
Objective:
2
AACSB:
Reflectivethinking
71）Thedeterminationofacostaseitherdirectorindirectdependsuponthe:
A）accountingsystem
B）allocationsystem
C）costtracingsystem
D）costobjectchosen
Answer:
D
Diff:
2
Terms:
directcostsofacostobject,indirectcostsofacostobject
Objective:
2
AACSB:
Reflectivethinking
72）Classifyingacostaseitherdirectorindirectdependsupon:
A）thebehaviorofthecostinresponsetovolumechanges
B）whetherthecostisexpensedintheperiodinwhichitisincurred
C）whetherthecostcanbeeasilyidentifiedwiththecostobject
D）whetheranexpenditureisavoidableornotinthefuture
Answer:
C
Diff:
2
Terms:
directcostsofacostobject,indirectcostsofacostobject
Objective:
2
AACSB:
Reflectivethinking
73）Amanufacturingplantproducestwoproductlines:
footballequipmentandhockeyequipment.Directcostsforthefootballequipmentlinearethe:
A）beveragesprovideddailyintheplantbreakroom
B）monthlyleasepaymentsforaspecializedpieceofequipmentneededtomanufacturethefootballhelmet
C）salariesoftheclericalstaffthatworkinthecompanyadministrativeoffices
D）utilitiespaidforthemanufacturingplant
Answer:
B
Diff:
2
Terms:
directcostsofacostobject
Objective:
2
AACSB:
Analyticalskills
74）Amanufacturingplantproducestwoproductlines:
footballequipmentandhockeyequipment.Anindirectcostforthehockeyequipmentlineisthe:
A）materialusedtomakethehockeysticks
B）labortobindtheshafttothebladeofthehockeystick
C）shiftsupervisorforthehockeyline
D）plantsupervisor
Answer:
D
Diff:
2
Terms:
indirectcostsofacostobject
Objective:
2
AACSB:
Analyticalskills
75）Whichoneofthefollowingitemsisadirectcost?
A）Customer-servicecostsofamultiproductfirm;ProductAisthecostobject.
B）Printingcostsincurredforpayrollcheckprocessing;payrollcheckprocessingisthecostobject.
C）Thesalaryofamaintenancesupervisorinamultiproductmanufacturingplant;ProductBisthecostobject.
D）Utilitycostsoftheadministrativeoffices;theaccountingdepartmentisthecostobject.
Answer:
B
Diff:
2
Terms:
directcostsofacostobject
Objective:
2
AACSB:
Reflectivethinking
76）Indirectmanufacturingcosts:
A）canbetracedtotheproductthatcreatedthecosts
B）canbeeasilyidentifiedwiththecostobject
C）generallyincludethecostofmaterialandthecostoflabor
D）mayincludebothvariableandfixedcosts
Answer:
D
Diff:
2
Terms:
indirectmanufacturingcosts
Objective:
2
AACSB:
Reflectivethinking
77）AllofthefollowingaretrueEXCEPTthatindirectcosts:
A）maybeincludedinprimecosts
B）arenoteasilytracedtoproductsorservices
C）varywiththeselectionofthecostobject
D）maybeincludedinmanufacturingoverhead
Answer:
A
Diff:
2
Terms:
indirectmanufacturingcosts
Objective:
2
AACSB:
Reflectivethinking
78）WhichstatementisTRUE?
A）Allvariablecostsaredirectcosts.
B）Becauseofacost-benefittradeoff,somedirectcostsmaybetreatedasindirectcosts.
C）Allfixedcostsareindirectcosts.
D）Alldirectcostsarevariablecosts.
Answer:
B
Diff:
3
Terms:
variablecosts,fixedcosts,indirectcostsofacostobject
Objective:
2
AACSB:
Reflectivethinking
79）Amixedcostis:
A）afixedcost
B）acostwithfixedandvariableelements
C）avariablecost
D）alwaysanindirectcost
Answer:
B
Diff:
2
Terms:
mixedcost
Objective:
3
AACSB:
Reflectivethinking
80）Whichofthefollowingisamixedcost?
A）monthlyrentpayment
B）manager'ssalary
C）monthlytelephonebill
D）directmaterials
Answer:
C
Diff:
2
Terms:
mixedcost
Objective:
3
AACSB:
Analyticalskills
81）WhichstatementisTRUE?
A）Adirectcostofonecostobjectcannotbeanindirectcostofanothercostobject.
B）Allvariablecostsaredirectcosts.
C）Adirectcostofonecostobjectcanbeanindirectcostofanothercostobject.
D）Allfixedcostsaredirectcosts.
Answer:
C
Diff:
3
Terms:
directcosts,indirectcosts
Objective:
2
AACSB:
Reflectivethinking
82）Costbehaviorrefersto:
A）howcostsreacttoachangeinthelevelofactivity
B）whetheracostisincurredinamanufacturing,merchandising,orservicecompany
C）classifyingcostsaseitherinventoriableorperiodcosts
D）whetheraparticularexpensehasbeenethicallyincurred
Answer:
A
Diff:
2
Terms:
fixedcost,variablecost
Objective:
3
AACSB:
Reflectivethinking
83）AnunderstandingoftheunderlyingbehaviorofcostshelpsinallofthefollowingEXCEPT:
A）costscanbebetterestimatedasvolumeexpandsandcontracts
B）truecostscanbebetterevaluated
C）processinefficienciescanbebetteridentifiedandasaresultimproved
D）salesvolumecanbebetterestimated
Answer:
D
Diff:
2
Terms:
fixedcost,variablecost
Objective:
3
AACSB:
Analyticalskills
84）Ataplantwhereaunionagreementsetsannualsalariesandconditions,annuallaborcostsusually:
A）areconsideredavariablecost
B）areconsideredafixedcost
C）dependontheschedulingoffloorworkers
D）dependontheschedulingofproductionruns
Answer:
B
Diff:
2
Terms:
fixedcost
Objective:
3
AACSB:
Reflectivethinking
85）Variablecosts:
A）arealwaysindirectcosts
B）increaseintotalwhentheactuallevelofactivityincreases
C）includemostpersonnelcostsanddepreciationonmachinery
D）canalwaysbetraceddirectlytothecostobject
Answer:
B
Diff:
2
Terms:
variablecost
Objective:
3
AACSB:
Reflectivethinking
86）Fixedcosts:
A）mayincludeeitherdirectorindirectcosts
B）varywithproductionorsalesvolumes
C）includepartsandmaterialsusedtomanufactureaproduct
D）canbeadjustedintheshortruntomeetactualdemands
Answer:
A
Diff:
2
Terms:
fixedcost
Objective:
3
AACSB:
Reflectivethinking
87）Fixedcostsdependonthe:
A）amountofresourcesused
B）amountofresourcesacquired
C）volumeofproduction
D）volumeofsales
Answer:
B
Diff:
3
Terms:
fixedcost
Objective:
3
AACSB:
Reflectivethinking
88）Whichoneofthefollowingisavariablecostforaninsurancecompany?
A）rent
B）president'ssalary
C）salescommissions
D）propertytaxes
Answer:
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