管理会计quiz 2ch 4 5 8.docx
《管理会计quiz 2ch 4 5 8.docx》由会员分享，可在线阅读，更多相关《管理会计quiz 2ch 4 5 8.docx（13页珍藏版）》请在冰豆网上搜索。
管理会计quiz2ch458
QUIZ2CH4/5/8
（20MARKS）1.GoldNestCompanyofGuandong,China,isafamily-ownedenterprisethatmakesbirdcagesfortheSouthChinamarket.ApopularpastimeamongolderChinesemenistotaketheirpetbirdsondailyexcursionstoteahousesandpublicparkswheretheymeetwithotherbirdownerstotalkandplaymahjong.Agreatdealofattentionislavishedonthesebirds,andthebirdcagesareoftenelaboratelyconstructedfromexoticwoodsandcontainporcelainfeedingbowlsandsilverroosts.GoldNestCompanymakesabroadrangeofbirdcagesthatitsellsthroughanextensivenetworkofstreetvendorswhoreceivecommissionsontheirsales.TheChinesecurrencyistherenminbi,whichisdenotedbyRmb.Allofthecompany’stransactionswithcustomers,employees,andsuppliersareconductedincash;thereisnocredit.
Thecompanyusesajob-ordercostingsysteminwhichoverheadisappliedtojobsonthebasisofdirectlaborcost.Atthebeginningoftheyear,itwasestimatedthatthetotaldirectlaborcostfortheyearwouldbeRmb110,000andthetotalmanufacturingoverheadcostwouldbeRmb275,000.Atthebeginningoftheyear,theinventorybalanceswereasfollows:
Rawmaterials
Rmb13,000
Workinprocess
Rmb30,000
Finishedgoods
Rmb65,000
Duringtheyear,thefollowingtransactionswerecompleted:
a.Rawmaterialspurchasedforcash,Rmb150,000.
b.Rawmaterialsrequisitionedforuseinproduction,Rmb158,000.（MaterialscostingRmb135,000werechargeddirectlytojobs;theremainingmaterialswereindirect.）
c.Costsforemployeeserviceswereincurredasfollows:
Directlabor
Rmb100,000
Indirectlabor
Rmb40,000
Salescommissions
Rmb22,000
Administrativesalaries
Rmb35,000
d.RentfortheyearwasRmb36,000.（Rmb30,000ofthisamountrelatedtofactoryoperations,andtheremainderrelatedtosellingandadministrativeactivities.）
e.Utilitycostsincurredinthefactory,Rmb90,000.
f.Advertisingcostsincurred,Rmb88,000.
g.Depreciationrecordedonequipment,Rmb80,000.（Rmb66,000ofthisamountwasonequipmentusedinfactoryoperations;theremainingRmb14,000wasonequipmentusedinsellingandadministrativeactivities.）
h.Manufacturingoverheadcostwasappliedtojobs,Rmb ?
.
i.GoodsthatcostRmb490,000tomanufactureaccordingtotheirjobcostsheetswerecompletedduringtheyear.
j.SalesfortheyeartotaledRmb995,000.ThetotalcosttomanufacturethesegoodsaccordingtotheirjobcostsheetswasRmb550,000.
Required:
1.Preparejournalentriestorecordthetransactionsfortheyear.
2.PrepareT-accountsforinventories,ManufacturingOverhead,andCostofGoodsSold.PostrelevantdatafromyourjournalentriestotheseT-accounts.（Don’tforgettoenterthebeginningbalancesinyourinventoryaccounts.）Computeanendingbalanceineachaccount.
3.IsManufacturingOverheadunderappliedoroverappliedfortheyear?
PrepareajournalentrytocloseanybalanceintheManufacturingOverheadaccounttoCostofGoodsSold.
4.Prepareanincomestatementfortheyear.（Donotprepareascheduleofcostofgoodsmanufactured;alloftheinformationneededfortheincomestatementisavailableinthejournalentriesandT-accountsyouhaveprepared.）
（20MARKS）2.HarwoodCompanyisamanufacturerthatoperatesajob-ordercostingsystem.Overheadcostsareappliedtojobsonthebasisofmachine-hours.Atthebeginningoftheyear,managementestimatedthatthecompanywouldincur$380,000inmanufacturingoverheadcostsandwork47,500machine-hours.
Required:
1.Computethecompany’spredeterminedoverheadrate.
2.Assumethatduringtheyearthecompanyworksonly45,000machine-hoursandincursthefollowingcostsintheManufacturingOverheadandWorkinProcessaccounts:
ManufacturingOverhead
WorkinProcess
（Maintenance）
47,000
?
（Directmaterials）
980,000
（Indirectmaterials）
20,000
（Directlabor）
170,000
（Indirectlabor）
105,000
（Overhead）
?
（Utilities）
77,500
（Insurance）
26,000
（Depreciation）
91,500
CopythedataintheT-accountsaboveontoyouranswersheet.ComputetheamountofoverheadcostthatwouldbeappliedtoWorkinProcessfortheyearandmaketheentryinyourT-accounts.
3.ComputetheamountofunderappliedoroverappliedoverheadfortheyearandshowthebalanceinyourManufacturingOverheadT-account.PrepareajournalentrytocloseoutthebalanceinthisaccounttoCostofGoodsSold.
4.Explainwhythemanufacturingoverheadwasunderappliedoroverappliedfortheyear.
（20MARKS）3.ContrastingABCandConventionalProductCosts
SiegelCorporationmanufacturesaproductthatisavailableinbothadeluxeandaregularmodel.Thecompanyhasmadetheregularmodelforyears;thedeluxemodelwasintroducedseveralyearsagototapanewsegmentofthemarket.Sinceintroductionofthedeluxemodel,thecompany’sprofitshavesteadilydeclined.Salesofthedeluxemodelhavebeenincreasingrapidly.
Overheadisappliedtoproductsonthebasisofdirectlabor-hours.Atthebeginningofthecurrentyear,managementestimatedthat$3,080,000inoverheadcostswouldbeincurredandthecompanywouldproduceandsell10,000unitsofthedeluxemodeland50,000unitsoftheregularmodel.Thedeluxemodelrequires2.0hoursofdirectlabortimeperunit,andtheregularmodelrequires1.0hours.Materialsandlaborcostsperunitaregivenbelow:
Deluxe
Regular
Directmaterialscostperunit
$50.00
$30.00
Directlaborcostperunit
$30.00
$15.00
Required
1.Computethepredeterminedoverheadrateusingdirectlabor-hoursasthebasisforallocatingoverheadcoststoproducts.Computetheunitproductcostforoneunitofeachmodel.
2.Aninternsuggestedthatthecompanyuseactivity-basedcostingtocostitsproducts.Ateamwasformedtoinvestigatethisidea..Itcamebackwiththerecommendationthatfouractivitycostpoolsbeused.Thesecostpoolsandtheirassociatedactivitiesarelistedbelow:
Estimated
Overhead
Activity
ActivityCostPoolandActivityMeasure
Cost
Deluxe
Regular
Total
Purchaseorders（numberoforders）
$ 60,000
500
1,000
1,500
Reworkrequests（numberofrequests）
280,000
800
2,000
2,800
Producttesting（numberoftests）
240,000
7,000
3,000
10,000
Machine-related（machine-hours）
2,500,000
4,500
8,000
12,500
$3,080,000
Computetheactivityrate（i.e.,predeterminedoverheadrate）foreachoftheactivitycostpools.
3.Assumethatactualactivityisasexpectedfortheyear.Usingactivity-basedcosting,dothefollowing:
a.Determinethetotalamountofoverheadthatwouldbeappliedtoeachmodelfortheyear.
b.Computetheunitproductcostforoneunitofeachmodel.
4.Canyouidentifyapossibleexplanationforthecompany’sdecliningprofits?
Ifso,whatisit?
（20MARKS）4.CostflowsandUnitProductCostsinActivity-BasedCosting
HunterCorporationusesactivity-basedcostingtodetermineproductcostsforexternalfinancialreports.Atthebeginningoftheyear,managementmadethefollowingestimatesofcostandactivityinthecompany’sfiveactivitycostpools:
ActivityCostPool
ActivityMeasure
EstimatedOverheadCost
ExpectedActivity
Laborrelated
Directlabor-hours
$200,000
20,000
DLHs
Productionorders
Numberoforders
$110,000
5,000
orders
Materialreceipts
Numberofreceipts
$108,000
1,800
receipts
Relayassembly
Numberofrelays
$960,000
12,000
relays
Generalfactory
Machine-hours
$1,260,000
70,000
MHs
Required
1.Computetheactivityrate（i.e.,predeterminedoverheadrate）foreachoftheactivitycostpools.
2.Duringtheyear,actualoverheadcostandactivitywererecordedasfollows:
ActivityCostPool
ActualOverheadCost
ActualActivity
Laborrelated
$ 205,000
22,000
DLHs
Productionorders
107,000
4,500
orders
Materialreceipts
112,000
2,000
receipts
Relayassembly
980,000
13,000
relays
Generalfactory
1,300,000
73,000
MHs
Totaloverheadcost
$2,704,000
a.Prepareajournalentrytorecordtheincurrenceofactualmanufacturingoverheadcostfortheyear（creditAccountsPayable）.Posttheentrytothecompany’sManufacturingOverheadT-account.
b.Determinetheamountofoverheadcostappliedtoproductionduringtheyear.
c.PrepareajournalentrytorecordtheapplicationofmanufacturingoverheadcosttoWorkinProcessfortheyear.Posttheentrytothecompany’sManufacturingOverheadT-account.
d.Determinetheamountofunderappliedoroverappliedmanufacturingoverheadfortheyear.
3.Theactualactivityfortheyearwasdistributedamongthecompany’sfourproductsasfollows:
ActualActivity
ActivityCostPool
ProductA
ProductB
ProductC
ProductD
Laborrelated（DLHs）
7,000
1,000
8,000
6,000
Productionorders（orders）
800
900
1,100
1,700
Materialreceipts（receipts）
400
800
300
500
Relayassembly（relays）
3,500
2,000
3,000
4,500
Generalfactory（MHs）
16,000
26,000
17,000
14,000
a.Determinethetotalamountofoverheadcostappliedtoeachproduct.
b.DoesthetotalamountofoverheadcostappliedtotheproductsabovetieintotheT-accountsinanyway?
Explain.
（10MARKS）5EquivalentUnits;CostReconciliation—WeightedAverageMethod
MartinCompanymanufacturesasingleproduct.Thecompanyusestheweighted-averagemethodinitsprocesscostingsystem.ActivityforJunehasjustbeencompleted.Anincompleteproductionreportforthefirstprocessingdepartmentfollows:
QuantitySched
升级会员 