第1題Managementaccounting________.Afocusesonestimatingfuturerevenues,costs,andothermeasurestoforecastactivitiesandtheirresultsBprovidesinformationaboutthecompanyasawholeCreportsinformationthathasoccurredinthepastthatisverifiableandreliableDprovidesinformationthatisgenerallyavailableonlyonaquarterlyorannualbasis第2題Financialaccountingprovidestheprimarysourceofinformationfor________.AdecisionmakinginthefinishingdepartmentBimprovingcustomerserviceCpreparingtheincomestatementforshareholdersDplanningnextyear'soperatingbudget第3題Managementaccountinginformationtypicallyincludes________.AtabulatedresultsofcustomersatisfactionsurveysBthecostofproducingaproductCthepercentageofunitsproducedthataredefectiveDAlloftheseanswersarecorrect.第4題Financialaccounting________.Afocusesonthefutureandincludesactivitiessuchaspreparingnextyear'soperatingbudgetBmustcomplywithGAAP(generallyacceptedaccountingprinciples)Cistheprocessofmeasuring,analyzing,andreportingfinancialandnonfinancialinformationrelatedtothecostsofacquiringorusingresourcesinanorganizationDispreparedfortheuseofdepartmentheadsandotheremployees第5題Whichofthefollowingdifferentiatescostaccountingandfinancialaccounting?ATheprimaryusersofcostaccountingaretheinvestors,whereastheprimaryusersoffinancialaccountingarethemanagers.BCostaccountingdealswithproductdesign,production,andmarketingstrategies,whereasfinancialaccountingdealsmainlywithpricingoftheproducts.CCostaccountingmeasuresonlythefinancialinformationrelatedtothecostsofacquiringfixedassetsinanorganization,whereasfinancialaccountingmeasuresfinancialandnonfinancialinformationofacompany'sbusinesstransactions.DCostaccountingmeasuresinformationrelatedtothecostsofacquiringorusingresourcesinanorganization,whereasfinancialaccountingmeasuresafinancialpositionofacompanytoinvestors,banks,andexternalparties.第1題TheStandardsofEthicalConductformanagementaccountantsincludeconceptsrelatedto________.Acompetence,performance,diligence,andreportingBcompetence,confidentiality,integrity,andcredibilityCexperience,diligence,reporting,andobjectivityDdiligence,objectivity,conflictsofinterest,andcredibility第2題WhichofthefollowingdifferentiatesconfidentialityandcredibilityundertheStandardsofEthicalConduct?()ACredibilitydealswithrefrainingfromactivitiesthatwouldprejudicecarryingdutiesethically,whileconfidentialitydealswithcommunicatinginformationfairlyandobjectively.BConfidentialitydealswithrefrainingfromtheusageofcriticalinformationforunethicalorillegaladvantage,whilecredibilityensuresdisclosingtherelevantinformationthatwouldhelptheintendeduser'sunderstanding.CCredibilitydealswithrefrainingfromtheusageofcriticalinformationforunethicalorillegaladvantage,whileconfidentialityensuresdisclosingtherelevantinformationthatwouldhelptheuser'sunderstanding.DCredibilityensuresappropriatelevelofprofessionalexpertisebycontinuallydevelopingknowledgeandskills,whileconfidentialityencouragesmitigationofactualconflictsofinterest.第3題Ethicalchallengesformanagementaccountantsinclude________.Awhethertoacceptgiftsfromsuppliers,knowingitisanefforttoindirectlyinfluencedecisionsBadheringtotheprinciplesofaccountingCwhethertofileataxreturnthisyearDwhethertoacceptgiftshigherincentivesfromthecompanyfortheirperformance第4題Ifthereisanethicalconflictconcerningyourdirectsupervisor,whenisitappropriatetocontactauthoritiesorindividualsnotemployedbytheorganization?()AwhenthereisapersonalconflictBwhenyoursupervisorisabouttobepromotedCwhenthereisaclearviolationofthelawDwhenyoufaceinjusticefromyoursupervisor第5題AsperIMAstatementofethicalprofessionalpractice,integrityreferstodisclosingallrelevantinformationthatcouldreasonablybeexpectedtoinfluenceanintendeduser'sunderstandingofthereports,analyses,orrecommendationsisaresponsibility.()BasicCostTerminology第1題Budgetedcostsare________.AthecostsincurredthisyearBthecostsincurredlastyearCplannedorforecastedcostsDcompetitor'scosts第2題Costassignment________.AincludesfutureandarbitrarycostsBencompassesallocatingindirectcoststoacostobjectCisthesameascostaccumulationDisthedifferencebetweenbudgetedandactualcosts第3題Costaccumulationis________.AthecollectionofcostdatainsomeorganizedwaybymeansofanaccountingsystemBanythingforwhichacostmeasurementisdesiredCanythingforwhichaprofitmeasurementisdesiredDthecollectionofprofitdatainsomeorganizedwaybymeansofanaccountingsystem第4題Anactualcostis________.AisthecostincurredBisapredictedorforecastedcostCisanythingforwhichacostmeasurementisdesiredDisthecollectionofcostdatainsomeorganizedwaybymeansofanaccountingsystem第5題Whichofthefollowingstatementsistrueofdirectcosts?AAdirectcostofonecostobjectisatruesenseofthebudgetedcosts.BAllvariablecostsaredirectcosts.CAdirectcostofonecostobjectcanbeanindirectcostofanothercostobject.DAllfixedcostsaredirectcosts.第6題LucasManufacturinghasthreecostobjectsthatitusestoaccumulatecostsforitsmanufacturingplants.Theyare:Costobject#1:

ThephysicalbuildingsandequipmentCostobject#2:

TheuseofbuildingsandequipmentCostobject#3:

TheavailabilityanduseofmanufacturinglaborThefollowingmanufacturingoverheadcostcategoriesarefoundintheaccountingrecords:a.Depreciationonbuildingsandequipmentb.Lubricantsformachinesc.Propertyinsuranced.Supervisorssalariese.Fringebenefitsf.

Propertytaxesg.UtilitiesRequired:Assigneachoftheabovecoststothemostappropriatecostobject.ACostobject#1includescategoriesa,c,andf.Costobject#2includescategoriesbandg.Costobject#3includescategoriesdande.BCostobject#1includescategoriesa,b,ande.Costobject#2includescategoriescandg.Costobject#3includescategoriesdandf.CCostobject#1includescategoriesa,b,ande.Costobject#2includescategoriesdandg.Costobject#3includescategoriescandf.DCostobject#1includescategoriesb,c,ande.Costobject#2includescategoriesaandd.Costobject#3includescategoriesgandf.CostbehaviorandClassifications第1題Whichofthefollowingistrueifthevolumeofsalesincreases(withinarelevantrange)?AfixedcostincreasesBvariablecostdecreasesCvariablecostincreasesDfixedcostdecreases第2題Whichofthefollowingisafixedcost?AmonthlyrentpaymentBelectricityexpensesCtravelexpensesDdirectmaterialcosts第3題Costbehaviorrefersto________.AhowcostsreacttoachangeinthelevelofactivityBwhetheracostisincurredinamanufacturing,merchandising,orservicecompanyCclassifyingcostsaseitherperpetualorperiodcostsDwhetheraparticularexpenseisexpensedinthesameorthefollowingperiodUnitCostsandTotalCosts第1題Aunitcostiscomputedby________.AmultiplyingtotalcostbythenumberofunitsproducedBdividingtotalcostbythenumberofunitsproducedCdividingvariablecostbythenumberofunitsproducedDdividingfixedcostbythenumberofunitsproduced第2題When20,000unitsareproduced,variablecostsare$8perunit.Therefore,when10,000unitsareproduced________.Avariablecostswillremainat$8perunitBvariablecostswilltotal$60,000Cvariableunitcostswillincreaseto$12perunitDvariableunitcostswilldecreaseto$3perunit第3題Inmakingproductmixandpricingdecisions,managersshouldfocuson________.AtotalcostsBunitcostsCvariablecostsDmanufacturingcoststypesofinventory第1題________sectorcompaniespurchasematerialsandcomponentsandconvertthemintofinishedgoods.AMerchandisingBServiceCManufacturingDProfessional第2題Whichofthefollowingcostisincludedincostofgoodssold?AcustomerservicecostBmanufacturinglaborcostCdistributioncostDmarketingcost第3題Manufacturingoverheadcostsarealsoreferredtoas________.AindirectmanufacturingcostsBprimecostsCdirectmanufacturingcostsDdirectmaterialsection1第1題Financialaccounting________.Afocusesonthefutureandincludesactivitiessuchaspreparingnextyear'soperatingbudgetBmustcomplywithGAAP(generallyacceptedaccountingprinciples)Cistheprocessofmeasuring,analyzing,andreportingfinancialandnonfinancialinformationrelatedtothecostsofacquiringorusingresourcesinanorganizationDispreparedfortheuseofdepartmentheadsandotheremployees第2題Theprimaryuserofmanagementaccountinginformationisa()________.AthecontrollerBashareholderevaluatingastockinvestmentCbondholderDexternalregulator第3題Financialaccountingprovidestheprimarysourceofinformationfor________.AdecisionmakinginthefinishingdepartmentBimprovingcustomerserviceCpreparingtheincomestatementforshareholdersDplanningnextyear'soperatingbudget第4題Anactualcostis________.AisthecostincurredBisapredictedorforecastedcostCisanythingforwhichacostmeasurementisdesiredDisthecollectionofcostdatainsomeorganizedwaybymeansofanaccountingsystem第5題Costaccumulationis________.AthecollectionofcostdatainsomeorganizedwaybymeansofanaccountingsystemBanythingforwhichacostmeasurementisdesiredCanythingforwhichaprofitmeasurementisdesiredDthecollectionofprofitdatainsomeorganizedwaybymeansofanaccountingsystem第6題Classifyingacostaseitherdirectorindirectdependsupon________.AthebehaviorofthecostinresponsetovolumechangesBwhetherthecostisexpensedintheperiodinwhichitisincurredCwhetherthecostcanbeeasilytracedwiththecostobjectDwhetheracostisfixedorvariable第7題Abandofnormalactivityorvolumeinwhichspecificcost-volumerelationshipsaremaintainedisreferredtoasthe________.AaveragerangeBcost-allocationrangeCcostdriverrangeDrelevantrange第8題Outsidetherelevantrange,variablecosts,suchasdirectmaterialcosts________.AwilldecreaseproportionatelywithchangesinsalesvolumesBwillremainthesamewithchangesinproductionvolumesCwillnotchangeproportionatelywithchangesinproductionvolumesDwillincreaseproportionatelywithchangesinsalesvolumes第9題Manufacturingoverheadcostsinanautomobilemanufacturingplantmostlikelyinclude________.AlaborcostsofthepaintingdepartmentBindirectmaterialcostssuchaslubricantsCleatherseatcostsDtyrecosts第10題Whichofthefollowingcostisincludedincostofgoodssold?()AcustomerservicecostBmanufacturinglaborcostCdistributioncostDmarketingcost第11題________aretheacquisitioncostsofallmaterialsthateventuallybecomepartofthecostobjectandcanbetracedtothecostobject.ASalestaxespaidtoacquirematerialsBWagespaidtoassembly-lineworkersCPlantdepreciationincurredDPropertytaxesonplant第12題Whichofthefollowingisaninventoriablecost?()AmanufacturingoverheadcostBcustomerservicecostsCdistributioncostsDmarketingcosts第13題R&Dcostsaretreatedasperiodcostsbecause________.AthesecostsmayincreaserevenuesinthecurrentperiodBthesecostsmayincreaserevenuesinthefutureperiodCthesecostsmaydecreaserevenuesinthecurrentperiodDthesecostsareexpensedwhenthegoodsaresold第14題Managementaccountantshaveimportantethicalresponsibilitiesthatarerelatedtocompetence,confidentiality,integrity,andcredibility.第15題Costsareaccountedforintwobasicstages:assignmentfollowedbyaccumulation.第16題Periodcostsareincludedinthecostofgoodssold.第17題Inventoriablecostsandperiodcostsflowthroughtheincomestatementatamerchandisingcompanysimilartothewaycostsflowatamanufacturingcompany.第18題Indirectmanufacturingcostsarealsoreferredtoasmanufacturingoverheadcostsorfactoryoverheadcosts.第19題Allmanufacturingcostsareperiodcosts.第20題Manufacturingsectorfirmsnormallyholdthreetypesofinventory:directmaterialsinventory,work-in-processinventory,andfinishedgoodsinventory.CVP第1題Contributionmarginequals________.ArevenuesminusperiodcostsBrevenuesminusproductcostsCrevenuesminusvariablecostsDrevenuesminusfixedcosts第2題AsperCVP,operatingincomecalculationsuse________.AnetincomeanddividendsBincometaxexpenseandnetincomeCcontributionmarginsandfixedcostsDnonoperatingrevenuesandnonoperatingexpenses第3題Atbreakevenpoint,________.AoperatingincomeisequaltozeroBcontributionmarginminusfixedcostsisequaltoprofitsearnedCrevenuesequalfixedcostsminusvariablecostsDbreakevenrevenuesequalfixedcostsdividedbythevariablecostperunit第4題Managersusecost-volume-profit(CVP)analysisto______.AforecastthecostofcapitalforagivenperiodoftimeBtostudythebehaviorofandrelationshipamongtheelementssuchastotalrevenues,totalcosts,andincomeCestimatetherisksassociatedwithagivenjobDanalyseafirm'sprofitabilityandhelptodecidewealthdistributionamongitsstakeholderssensitivityanalysis第1題Themarginofsafetyisthedifferencebetween________.AbudgetedexpensesandbreakevenexpensesBbudgetedrevenuesandbreakevenrevenuesCactualoperatingincomeandbudgetedoperatingincomeDactualsalesmarginandbudgetedsalesmargin第2題________istheprocessofvaryingkeyestimatestoidentifythoseestimatesthatarethemostcriticaltoadecision.AThegraphmethodBAsensitivityanalysisCThedegreeofoperatingleverageDSalesmix第3題Sensitivityanalysisisa"what-if"techniquethatmanagersusetoexaminehowaresultwillchangeiftheoriginallypredicteddataarenotachievedorifanunderlyingassumptionchanges.()inventorycosting第1題Whichofthefollowingcostsisinventoriedwhenusingabsorptioncosting?AvariablesellingcostsBfixedadministrativecostsCvariablemanufacturingcostsDfixedsellingcosts第2題________isamethodofinventorycostinginwhichallvariablemanufacturingcosts(directandindirect)areincludedasinventoriablecostsandallfixedmanufacturingcostsareexcluded.AMarginalcostingBMixedcostingCAbsorptioncostingDStandardcosting第3題Marginalcostingregardsfixedmanufacturingoverheadasa(an)________.AadministrativecostBinventoriablecostCperiodcostDproductcostOverviewofabsorptionandmarginalcosting第1題Thedifferencebetweenoperatingincomesundermarginalcostingandabsorptioncostingcentersonhowtoaccountfor________.AdirectmaterialscostsBfixedmanufacturingcostsCvariablemanufacturingcostsDsellingandadministrativecosts第2題________issubtractedfromsaleswhilecalculatingcontributionmargin.ADirectlaborinfactoryBRentonfactorybuildingCRentontheheadquarter?sbuildingDSalescommissiononincrementalsales第3題Whichofthefollowingstatementsistrueofabsorptioncosting?AAbsorptioncostingallocatesfixedmanufacturingoverheadtoactualunitsproducedduringtheperiod.BAbsorptioncostingcarriesovernonmanufacturingcoststothefutureperiods.CAbsorptioncostingshowsthesamelevelofprofitasmarginalcostingirrespectiveofthelevelofinventories.DAbsorptioncostingallocatestotalmanufacturingcostusingthebudgetedlevelofproductionforaparticularyear.ExtendingtheExample第1題JeanPeck'sFurniture'smanufacturestablesforhospitalitysector.Ittakesonlybulkordersandeachtableissoldfor$300afternegotiations.InthemonthofJanuary,itmanufactures3,000tablesandsells2,250tables.Actualfixedcostsarethesameastheamountfixedcostsbudgetedforthemonth.ThefollowinginformationisprovidedforthemonthofJanuary:Variablemanufacturingcosts$120perunitFixedmanufacturingcosts$90,000permonthFixedAdministrativeexpenses$25,000permonthAttheendofthemonthJeanPeck'sFurniture'shasanendinginventoryoffinishedgoodsof750units.Thecompanyalsoincursasalescommissionof$10perunit.Whatisthecostofgoodssoldperunitwhenusingabsorptioncosting?A$120B$128C$150D$158第2題JeanPeck'sFurniture'smanufacturestablesforhospitalitysector.Ittakesonlybulkordersandeachtableissoldfor$300afternegotiations.InthemonthofJanuary,itmanufactures3,000tablesandsells2,250tables.Actualfixedcostsarethesameastheamountfixedcostsbudgetedforthemonth.ThefollowinginformationisprovidedforthemonthofJanuary:Variablemanufacturingcosts$120perunitFixedmanufacturingcosts$90,000permonthFixedAdministrativeexpenses$25,000permonthAttheendofthemonthJeanPeck'sFurniture'shasanendinginventoryoffinishedgoodsof750units.Thecompanyalsoincursasalescommissionof$10perunit.Whatisthegrossmarginwhenusingabsorptioncosting?A$675,000B$527,500C$270,000D$337,500第3題JeanPeck'sFurniture'smanufacturestablesforhospitalitysector.Ittakesonlybulkordersandeachtableissoldfor$300afternegotiations.InthemonthofJanuary,itmanufactures3,000tablesandsells2,250tables.Actualfixedcostsarethesameastheamountfixedcostsbudgetedforthemonth.ThefollowinginformationisprovidedforthemonthofJanuary:Variablemanufacturingcosts$120perunitFixedmanufacturingcosts$90,000permonthFixedAdministrativeexpenses$25,000permonthAttheendofthemonthJeanPeck'sFurniture'shasanendinginventoryoffinishedgoodsof750units.Thecompanyalsoincursasalescommissionof$10perunit.Whatistheoperatingincomewhenusingabsorptioncosting?A$337,500B$312,500C$290,000D$260,500Advantagesanddisadvantages第1題Throughputcostingisalsocalled________.AabsorptioncostingBsuper-variablecostingCmixedcostingDdirectcosting第2題Advocatesofthroughputcostingarguethat________.AfixedmanufacturingcostsarealsotobeincludedasinventoriablecostsBdirectmanufacturinglaborisrelativelyfixedCdirectmaterialscostsareacostoftheperiodDonlydirectmaterialcostsareincludedasinventoriablecosts第3題WhichofthefollowinginventorycostingmethodsshownbelowisrequiredbyGAAP(GenerallyAcceptedAccountingPrinciples)forexternalfinancialreporting?AabsorptioncostingBmarginalcostingCthroughputcostingDdirectcostingReviewquestion第1題Contributionmarginequals________.ArevenuesminusperiodcostsBrevenuesminusproductcostsCrevenuesminusvariablecostsDrevenuesminusfixedcosts第2題ShineJewelrysells400unitsresultingin7,000ofsalesrevenue,3,000ofvariablecosts,and$1,500offixedcosts.Contributionmarginperunitis________.A$4.00B$11.00C$10.00D$8.00第3題ShineJewelrysells400unitsresultingin7000ofsalesrevenue,3000ofvariablecosts,and$1,500offixedcosts.Calculatethevariablecostperunit.A$11.00B$7.00C$8.00D$7.50第4題Aunitcostiscomputedbydividingtotalcostbythenumberofunits.section2第1題OneofthefirststepstotakewhenusingCVPanalysistohelpmakedecisionsis________.Acalculatingthebreak-evenpointBidentifyingthevariableandfixedcostsCcalculationofthedegreeofoperatingleverageforthecompanyDestimatingthevolumeofsalestomakeagoodprofit第2題Whichofthefollowingis正確ofcost-volume-profitanalysis?()AThetheoryassumesthatallcostsarevariable.BThetheoryassumesthatunitsmanufacturedequalunitssold.CThetheorystatesthattotalvariablecostsremainthesameoverarelevantrange.DThetheorystatesthattotalcostsremainthesameovertherelevantrange.第3題Thesellingpriceperunitlessthevariablecostperunitisthe________.AfixedcostperunitBgrossmarginCmarginofsafetyDcontributionmarginperunit第4題Whichofthefollowingis正確ofCVPanalysis?()ACostsmaybeseparatedintoseparateinventoriableandperiodcomponentswithrespecttothelevelofoutput.BTotalrevenuesandtotalcostsarelinearinrelationtooutputunits.CUnitsellingprice,unitvariablecosts,andunitfixedcostsareknownandremainconstant.DProportionofdifferentproductswillvaryaccordingtodemandandsupplywhenmultipleproductsaresold.第5題AsperCVP,operatingincomecalculationsuse________.AnetincomeanddividendsBincometaxexpenseandnetincomeCcontributionmarginsandfixedcostsDnonoperatingrevenuesandnonoperatingexpenses第6題BovousStores,Inc.,sellsseveralproducts.Informationofaveragerevenueandcostsisasfollows:Therevenuesthatthecompanymustearnannuallytomakeaprofitof$144,000are_______.A$378,000B$425,000C$400,000D$450,000第7題AlexFurnituresellsatablefor850.Hisfixedcostsare25,000,whilehisvariablecostsare$500pertable.Hecurrentlyplanstosell175tablesthismonth.WhatisthebudgetedrevenueforthemonthassumingthatAlexsells175tables?()A$145,750B$148,750C$150,000D$142,250第8題AlexFurnituresellsatablefor850.Hisfixedcostsare25,000,whilehisvariablecostsare$500pertable.Hecurrentlyplanstosell175tablesthismonth.WhatisthebudgetedoperatingincomeforthemonthassumingthatAlexsells175tables?()A$45,250B$37,000C$36,250D$36,750第9題Winnzsells8,000unitsresultingin100,000ofsalesrevenue,35,000ofvariablecosts,and$45,000offixedcosts.Thecontributionmarginpercentageis________.A66.67%B65.0%C37.5%D75.0%第10題Winnzsells8,000unitsresultingin100,000ofsalesrevenue,35,000ofvariablecosts,and$45,000offixedcosts.Whichofthefollowingisthemathematicalexpressionofcontributionmarginratio?()AContributionmarginratio=Contributionmarginpercentage×Revenues(indollars)BContributionmarginratio=Contributionmarginpercentage×Fixedcosts(indollars)CContributionmarginratio=Contributionmarginpercentage×Variablecosts(indollars)DContributionmarginratio=Contributionmarginpercentage×Operatingleverage第11題Winnzsells8,000unitsresultingin100,000ofsalesrevenue,35,000ofvariablecosts,and$45,000offixedcosts.Whatistheproportionofvariablecoststototalcosts?()A45.00%B48.56%C53.56%D43.56%第12題ShineJewelrysells400unitsresultingin7,000ofsalesrevenue,3,000ofvariablecosts,and$1,500offixedcosts.Contributionmarginperunitis________.A$4.00B$11.00C$10.00D$8.00第13題ShineJewelrysells400unitsresultingin7,000ofsalesrevenue,3,000ofvariablecosts,and$1,500offixedcosts.Calculatethevariablecostperunit.()A$11.00B$7.00C$8.00D$7.50第14題NorthernStarsellsseveralproducts.Informationofaveragerevenueandcostsisasfollows:Thecompanysells12,000unitsattheendoftheyear.Thecontributionmarginperunitis________.A$11.00B$12.00C$4.00D$14.00第15題NorthernStarsellsseveralproducts.Informationofaveragerevenueandcostsisasfollows:Thecompanysells12,000unitsattheendoftheyear.Ifdirectlaboranddirectmaterialcostsincreaseby$1each,contributionmargin_______.Aincreasesby$20,000Bincreasesby$14,000Cdecreasesby$24,000Ddecreasesby$14,000第16題Theprimaryuserofmanagementaccountinginformationisa(n)________.AthecontrollerBashareholderevaluatingastockinvestmentCbondholderDexternalregulator第17題Salesmargin=Contributionmarginpercentage×Revenues(indollars).第18題ItisassumedinCVPanalysisthattheunitsellingprice,unitvariablecosts,andunitfixedcostsareknownandconstant.第19題InCVPanalysis,thegraphoftotalrevenuesversustotalcostsislinearinnaturerelationtounitssoldwithinarelevantrangeandtimeperiod.第20題Theshorterthetimehorizon,thelowerthepercentageoftotalcostsconsideredfixed.第21題Arevenuedriverisavariable,suchasvolume,thatcausallyaffectsrevenues.TheFlowsofRawMaterials第1題Amongdifferenttypesofcostsassociatedwithinventory,thecostsofobtainingpurchaseapprovalsare________.ApurchasingcostsBorderingcostsCstockoutcostsDcarryingcosts第2題Amongdifferenttypesofcostsassociatedwithinventory,theincomingfreightchargesofinventoriesare________.ApurchasingcostsBorderingcostsCstockoutcostsDcarryingcosts第3題Purchasingcostsariseinpreparingandissuingpurchaseorders,receivingandinspectingtheitemsincludedintheorders,andmatchinginvoicesreceived,purchaseorders,anddeliveryrecordstomakepayments.StockRecording第1題Perpetualinventorysystemrecordseveryreceiptandissueofstockasitoccursanditprovidesup-to-dateinventoryandCOGSrecords.()第2題StoresledgeraccountShowsarecordofreceipts,issuesandbalancesofthequantityandamountofanitemofinventory.()StockValuation第1題AdistinctivefeatureoftheFIFOprocesscostingmethodisthattheworkdoneonbeginninginventorybeforethecurrentperiodiskeptseparatefromworkdoneinthecurrentperiod.()第2題Inaperiodofrisingprices,theweighted-averagemethodwillresultinhighertaxpayments.()第3題Thefirst-in,first-outprocess-costingmethodassumesthattheearliestequivalentunitsinworkinprocessarecompletedfirst.()DirectandIndirectLabor第1題Directmaterialcostsaretheacquisitioncostsofallmaterialsthateventuallybecomepartofthecostobjectandcannotbetracedtothecostobjectinaneconomicallyfeasibleway.()第2題Directmanufacturinglaborincludesplantrentandsalariespaidtoplantsupervisors.()第3題Inventoriablecostsarereportedasaliabilityinbalancesheetwhenincurredandexpensedontheincomestatementwhentheproductissold.()RemunerationMethods第1題Whichofthefollowingdescribesthemethodofpaymentforlabourknownas'piecework’?AAfixedamountispaidperunitoftimespent,irrespectiveofoutputachievedBAfixedamountispaidperunitofoutputachieved,irrespectiveoftimespentCAfixedamountispaidperunitoftimespent,basedonoutputachievedDAfixedamountispaidperunitofoutputachieved,basedontimespent第2題Anemployeeispaidonapieceworkbasis.Thebasisofthepieceworkschemeisasfollows:1to100units-$0.25perunit101to200unit-$0.35perunit201to299unit-$0.45perunitWhichonlytheadditionalunitsqualifyingforthehigherrates.Rejectedunitsdonotqualifyforpayment.Duringaparticulardaytheemployeeproduced250unitsofwhich31wererejectedasfaulty.Whatdidtheemployeeearnfortheirday'swork?A$68.55B$82.50C$98.55D$112.50ACostcardofaproduct第1題Whichofthefollowingistrueofindirectcosts?()AIndirectcostsarealwaysconsideredsunkcosts.BAllindirectcostsareincludedincostofgoodssold.CIndirectcostsalwaysvaryindirectproportiontothelevelofp