管理会计作业.docx

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