管理会计作业.docx
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管理会计作业
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管理会计作业(总20页)
6.Thelaststepinaprocess-costingsystemistodeterminetheequivalentunitsfortheperiod.
Answer:
FalseDifficulty:
2Objective:
2
TermstoLearn:
processcosting
Thelaststepinaprocess-costingsystemistoassignthecostsincurredtocompletedunitsandtounitsinendingworkinprocess.
7.Equivalentunitsarecalculatedseparatelyforeachinput.
Answer:
TrueDifficulty:
2Objective:
3
TermstoLearn:
equivalentunits
8.Inaprocess-costingsystem,thereisalwaysaseparateWork-in-Processaccountforeachdifferentprocess.
Answer:
TrueDifficulty:
2Objective:
3
TermstoLearn:
processcosting
9.Process-costingjournalentriesandjob-costingjournalentriesaresimilarwithrespecttodirectmaterialsandconversioncosts.
Answer:
TrueDifficulty:
2Objective:
4
TermstoLearn:
process-costingsystem
10.Theaccounting(forabakery)entrytorecordthetransferofrollsfromthemixingdepartmenttothebakingdepartmentis:
WorkinProcess-MixingDepartment
WorkinProcess-BakingDepartment
Answer:
FalseDifficulty:
2Objective:
4
TermstoLearn:
process-costingsystem
Thecorrectaccountingentryistheoppositeoftheentryshownhere.
11.Theweighted-averageprocesscostingmethoddoesnotdistinguishbetweenunitsstartedinthepreviousperiodbutcompletedduringthecurrentperiodandunitsstartedandcompletedduringthecurrentperiod.
Answer:
TrueDifficulty:
2Objective:
5
TermstoLearn:
weighted-averageprocess-costingmethod
12.Equivalentunitsinbeginningworkinprocess+equivalentunitsofworkdoneinthecurrentperiodequalsequivalentunitscompletedandtransferredoutinthecurrentperiodminusequivalentunitsinendingworkinprocess.
Answer:
FalseDifficulty:
2Objective:
5
TermstoLearn:
equivalentunits
Thesecondpartoftheequationshouldbe:
equivalentunitscompletedandtransferredoutinthecurrentperiodPLUSequivalentunitsinendingworkinprocess.
13.Intheweighted-averagecostingmethod,thecostsofdirectmaterialsinbeginninginventoryarenotincludedinthecostperunitcalculationsincedirectmaterialsarealmostalwaysaddedatthestartoftheproductionprocess.
Answer:
FalseDifficulty:
2Objective:
5
TermstoLearn:
weighted-averageprocess-costingmethod
Thecostsofthedirectmaterialsareincludedinthecostperunitcalculation.
14.Theweighted-averagecostisthetotalofallcostsenteringtheWork-in-Processaccount(whethertheyarefrombeginningwork-in-processorfromworkstartedduringthecurrentperiod)dividedbytotalequivalentunitsofworkdonetodate.
Answer:
TrueDifficulty:
2Objective:
5
TermstoLearn:
weighted-averageprocess-costingmethod
15.Theequivalentunitsarenotneededinaweighted-averagesystem,becauseallcostsarejustaveraged.
Answer:
FalseDifficulty:
2Objective:
5
TermstoLearn:
equivalentunits,weighted-averageprocess-costingmethod
Theequivalentunitsareneededinaweighted-averagesystem,eventhoughallcostsareaveraged.
16.ThecostofunitscompletedcandiffermateriallybetweentheweightedaverageandtheFIFOmethodsofprocesscosting.
Answer:
TrueDifficulty:
2Objective:
5,6
TermstoLearn:
weighted-averageprocess-costingmethod,first-in,first-out(FIFO)process-costingmethod
17.Thefirst-in,first-out(FIFO)processcostingmethodassignsthecostofthepreviousaccountingperiod’sequivalentunitsinbeginningwork-in-processinventorytothefirstunitscompletedandtransferredoutoftheprocess.
Answer:
TrueDifficulty:
2Objective:
6
TermstoLearn:
first-in,first-out(FIFO)process-costingmethod
18.AdistinctivefeatureoftheFIFOprocesscostingmethodisthattheworkdoneonbeginninginventorybeforethecurrentperiodisaveragedwithworkdoneinthecurrentperiod.
Answer:
FalseDifficulty:
2Objective:
6
TermstoLearn:
first-in,first-out(FIFO)process-costingmethod
AdistinctivefeatureoftheFIFOprocesscostingmethodisthattheworkdoneonbeginninginventorybeforethecurrentperiodiskeptseparatefromworkdoneinthecurrentperiod.
19.TheFIFOprocesscostingmethodmergestheworkandthecostsofthebeginninginventorywiththeworkandthecostsdoneduringthecurrentperiod.
Answer:
FalseDifficulty:
2Objective:
6
TermstoLearn:
first-in,first-out(FIFO)process-costingmethod
FIFOonlyincludestheworkdoneduringthecurrentperiod.
20.Thefirst-in,first-outprocess-costingmethodassumesthatunitsinbeginninginventoryarecompletedduringthecurrentaccountingperiod.
Answer:
TrueDifficulty:
2Objective:
6
TermstoLearn:
first-in,first-out(FIFO)process-costingmethod
MULTIPLECHOICE
21.Costingsystemsthatareusedforthecostingoflikeorsimilarunitsofproductsinmassproductionarecalled:
a.inventory-costingsystems
b.job-costingsystems
c.process-costingsystems
d.weighted-averagecostingsystems
Answer:
cDifficulty:
1Objective:
1
TermstoLearn:
process-costingsystem
22.Whichofthefollowingmanufacturedproductswouldnotuseprocesscosting?
a.767jetaircraft
b.19-inchtelevisionsets
c.Custombuilthouses
d.Bothaandcarecorrect.
Answer:
dDifficulty:
2Objective:
1
TermstoLearn:
process-costingsystem
23.Processcostingshouldbeusedtoassigncoststoproductswhenthe:
a.unitsproducedaresimilar
b.unitsproducedaredissimilar
c.calculationofunitcostsrequirestheaveragingofunitcostsoverallunitsproduced
d.Eitheraorcarecorrect.
Answer:
dDifficulty:
2Objective:
1
TermstoLearn:
process-costingsystem
24.Whichoneofthefollowingstatementsistrue?
a.Inajob-costingsystem,individualjobsusedifferentquantitiesofproductionresources.
b.Inaprocess-costingsystemeachunitusesapproximatelythesameamountofresources.
c.Anaveragingprocessisusedtocalculateunitcostsinajob-costingsystem.
d.Bothaandbarecorrect.
Answer:
dDifficulty:
2Objective:
1
TermstoLearn:
process-costingsystem
25.Conversioncosts:
a.includeallthefactorsofproduction
b.includedirectmaterials
c.inprocesscostingareusuallyconsideredtobeaddedevenlythroughouttheproductionprocess
d.Bothbandcarecorrect.
Answer:
cDifficulty:
2Objective:
1
TermstoLearn:
process-costingsystem
26.Anexampleofabusinesswhichwouldhavenobeginningorendinginventorybutwhichcoulduseprocesscostingtocomputeunitcostswouldbea:
a.clothingmanufacturer
b.corporationwhosesolebusinessactivityisprocessingthecustomerdepositsofseveralbanks
c.manufacturerofcustomhouses
d.manufactureroflargeTVs
Answer:
bDifficulty:
2Objective:
1
TermstoLearn:
process-costingsystem
27.Whichofthefollowingstatement(s)concerningconversioncostsiscorrect?
a.Estimatingthedegreeofcompletionofdirectmaterialsinapartiallycompletedunitisusuallyeasiertocalculatethanestimatingthedegreeofcompletionforconversioncosts.
b.Thecalculationofequivalentunitsisrelativelyeasyforthetextileindustry.
c.Estimatesareusuallynotconsideredacceptable.
d.Both(b)and(c)arecorrect.
Answer:
aDifficulty:
2Objective:
1
TermstoLearn:
process-costingsystem,equivalentunits
28.Thepurposeoftheequivalent-unitcomputationisto:
a.convertcompletedunitsintotheamountofpartiallycompletedoutputunitsthatcouldbemadewiththatquantityofinput.
b.assistthebusinessindeterminingendinginventory.
c.convertpartiallycompletedunitsintotheamountofcompletedoutputunitsthatcouldbemadewiththatquantityofinput.
d.Bothbandcarecorrect.
Answer:
cDifficulty:
2Objective:
3
TermstoLearn:
equivalentunits
29.Inaprocess-costingsystem,thecalculationofequivalentunitsisusedforcalculating:
a.thedollaramountofendinginventory
b.thedollaramountofthecostofgoodssoldfortheaccountingperiod
c.thedollarcostofaparticularjob
d.Bothaandbarecorrect.
Answer:
dDifficulty:
1Objective:
3
TermstoLearn:
equivalentunits
30.WhenabakerytransfersgoodsfromtheBakingDepartmenttotheDecoratingDepartment,theaccountingentryis
a.WorkinProcess—BakingDepartment
WorkinProcess—DecoratingDepartment
b.WorkinProcess—DecoratingDepartment
AccountsPayable
c.WorkinProcess—DecoratingDepartment
WorkinProcess—BakingDepartment
d.WorkinProcess—BakingDepartment
AccountsPayable
Answer:
cDifficulty:
2Objective:
4
TermstoLearn:
process-costingsystem
EXERCISESANDPROBLEMS
31.Therearebasicallytwodistinctmethodsofcalculatingproductcosts.
Required:
Compareandcontrastthetwomethods.
Answer:
Injobcostingthejoborproductisadistinctlyidentifiableproductorservice.Eachjobrequires(orcanrequire)vastlydifferentamountsofinput.Jobcostingisusuallyassociatedwithproductsthatareuniqueorheterogeneous.Thus,eachjobrequiresdifferentamountsofinput,andtheycanrequirevastlydifferentamountofcoststofinish.Job-costedproductstendtobehighcostperunit.Thusthecostsofeach(unique)jobareimportantforplanning,pricing,andprofitability.
Inprocesscosting,thejobsorproductsaresimilar(orhomogeneous).Eachjobusuallyrequiresthesameinputs,andresultsinapproximatelythesamecostsperunit.Thecostofaproductorserviceisobtainedbyassigningtotalcoststomanyidenticalorsimilarunits.Weassumeeachunitreceivesthesameamountofdirectmaterialcosts,directmanufacturinglaborcosts,andindirectmanufacturingcosts.Unitcostsarethencomputedbydividingtotalcostsbythenumb