cost accounting test bank chapter 5汇总.pdf

cost accounting test bank chapter 5汇总.pdf

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1Copyright2015PearsonEducation,Inc.CostAccounting,15e（Horngren/Datar/Rajan）Chapter5Activity-BasedCostingandActivity-BasedManagementObjective5.11）Whichofthefollowingstatementsistrueofapeanut-buttercostingsystem?

A）Apeanut-buttercostingsystemtypicallyhasmore-homogeneousindirectcostpools.B）Apeanut-buttercostingsystembroadlyaveragesorspreadsthecostofresourcesuniformlytocostobjects.C）Apeanut-buttercostingsystemassumesthatallcostsarevariable.D）Inapeanut-buttercostingsystem,costsofactivitiesareusedtoassigncoststoothercostobjectssuchasproductsorservicesbasedontheactivitiestheproductsorservicesconsume.Answer:

BDiff:

2Objective:

1AACSB:

Analyticalthinking2）Overcostingaparticularproductmayresultin_.A）lossofmarketshareB）pricingtheproducttoolowC）operatingefficienciesD）understatingtotalproductcostsAnswer:

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Analyticalthinking3）Foracompanywithdiverseproducts,undercostingoverheadofaproductwillleadto_.A）misallocatingdirectlaborcostsoftheproduct.B）misallocatingdirectmaterialcostsoftheproductC）misallocatingindirectcostsofanotherproductD）misallocatingdirectcostsofanotherproductAnswer:

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Analyticalthinking2Copyright2015PearsonEducation,Inc.4）AquaCompanyproducestwoproductsAlphaandBeta.Alphahasahighmarketshareandisproducedinbulk.ProductionofBetaisbasedoncustomerordersandiscustomdesigned.Also,55%ofBetascostissharedbetweendesignandsetupcosts,whileAlphasmajorportionsofcostsaredirectcosts.Alphaisusingasinglecostpooltoallocateindirectcosts.WhichofthefollowingstatementsistrueofAqua?

A）AquawillovercostBetasdirectcostsasitisusingasinglecostpooltoallocateindirectcosts.B）AquawillundercostAlphasindirectcostsbecausealphahashighdirectcosts.C）AquawillovercostAlphasindirectcostsasitisusingasinglecostpooltoallocateindirectcosts.D）AquawillovercostBetasindirectcostsbecausebetahashighindirectcosts.Answer:

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Applicationofknowledge5）Product-costcross-subsidization_.A）existswhenoneovercostedproductresultsinmorethanoneotherproductbeingovercostedB）meansthatifacompanyundercostsmorethanoneofitsproducts,itwillovercostmorethanoneofitsotherproductsC）meansthatifacompanyundercostsoneofitsproducts,itwillovercostatleastoneofitsotherproductsD）existsonlywhenoneovercostedproductresultsinallotherproductsbeingovercostedAnswer:

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Analyticalthinking6）Anacceleratedneedforrefinedcostsystemsisdueto_.A）globalmonopoliesB）risingpricesC）intensecompetitionD）ashifttowardincreaseddirectcostsAnswer:

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Analyticalthinking7）Uniformlyassigningthecostsofresourcestocostobjectswhenthoseresourcesareactuallyusedinanonuniformwayiscalled_.A）activity-basedcostingB）uniformcostingC）peanut-buttercostingD）departmentcostingAnswer:

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Analyticalthinking3Copyright2015PearsonEducation,Inc.8）Product-costcross-subsidizationisverycommonwhencostsareuniformlyspreadacrossvariousproducts.Answer:

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Analyticalthinking9）Companiesthatovercostproductswillmostlikelylosemarketshare.Answer:

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Analyticalthinking10）Ifcompaniesincreasemarketshareinagivenproductlinebecausetheirreportedcostsarelessthantheiractualcosts,theywillbecomemoreprofitableinthelongrun.Answer:

FALSEExplanation:

Theactualcostswillincreasebecauseoftheadditionalsalesandtheotherproductlines（whicharesubsidizingtheundercostingofthegrowingproductline）willsuffer.Thenetresultwillbethecompanyhavingaloweroperatingincomethanitcouldhavehad.Diff:

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Analyticalthinking11）Asproductdiversityandindirectcostsincrease,itisusuallybesttoswitchawayfromabroadaveragingsystemtoanactivity-basedcostsystem.Answer:

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Analyticalthinking12）Peanut-buttercostingsystemisamorerefinedcostingsystemcomparedtoactivity-basedcostingsystem.Answer:

FALSEExplanation:

Activity-basedcostingsystemisamorerefinedcostingsystemcomparedtopeanut-buttercostingsystem.Diff:

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Analyticalthinking13）Explainhowatop-sellingproductmayactuallyresultinlossesforthecompany.Answer:

Ifindirectcostsarenotproperlyallocatedtotheproducts,aproductmayappeartocostlessthanitactuallydoescosttoproduce.Ifthesellingpriceisbasedontheselowercosts,thesellingpricemayactuallybelowerthanthecostsneededtoproducetheproductresultinginlossesforthecompany.Diff:

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Analyticalthinking4Copyright2015PearsonEducation,Inc.Objective5.21）Refiningacostsystemincludes_.A）classifyingasmanycostsasindirectcostsasisfeasibleB）creatingasmanycostpoolsaspossibleC）identifyingtheactivitiesinvolvedinaprocessD）seekingalesserlevelofdetailAnswer:

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Analyticalthinking2）Whichofthefollowingistrueofrefinementofacostingsystem?

A）Whilerefiningacostingsystem,companiesshouldidentifyasmanyindirectcostsasiseconomicallyfeasible.B）Ahomogeneouscostpoolwillusemultiplecostdriverstoallocatecosts.C）Itreducestheuseofbroadaveragesforassigningthecostofresourcestocostobjects.D）Itislikelytoyieldthemostdecision-makingbenefitswhendirectcostsareahighpercentageoftotalcosts.Answer:

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Analyticalthinking3）Whichofthefollowingisareasonthathasacceleratedthedemandforrefinementstothecostingsystem?

A）Thedecliningdemandforcustomizedproductshasledmanagerstodecreasethevarietyofproductsandservicestheircompaniesoffer.B）Theuseofproductandprocesstechnologyhasledtoanincreaseinindirectcostsandadecreaseindirectcosts.C）Theincreasedofautomatedprocesseshasledtotheincreaseindirectmanufacturingcostleadingtoadecreaseinbreakevenpoint.D）Theincreasingcompetitioninproductmarketshasledtoanincreaseincontributionmarginresultinginadecreaseofbreakevenpoint.Answer:

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Analyticalthinking4）Demandforrefinementstothecostingsystemhasaccelerateddueto_.A）increaseindirectcostsB）decreaseinproductdiversityC）decreaseinindirectcostsD）competitioninproductmarketsAnswer:

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Analyticalthinking5Copyright2015PearsonEducation,Inc.5）CollinInc.produceshospitalequipmentandthesetuprequirementsvaryfromproducttoproduct.CollinproducesitsproductsbasedoncustomerordersandusesABCcosting.Inoneofitsindirectcostpools,setupcostsanddistributioncostsarepooledtogether.Costsinthispoolareallocatedusingnumberofcustomerordersfortheeasinessofcostingoperations.Basedontheinformationprovided,whichofthefollowingargumentsisvalid?

A）Collinhasclearlyfailedtoidentifyasmanydirectcostsasiseconomicallyfeasible.B）Allcostsinahomogeneouscostpoolhavethesameorasimilarcause-and-effectrelationshipwiththesinglecostdriverthatisusedasthecost-allocationbaseforCollin.C）Collinhasunnecessarilywastedresourcesbyclassifyingsetupanddistributioncostsastheycouldhavebeenconsideredasdirectcosts.D）Collinhasfailedtousethecorrectcostdriverasthecost-allocationbaseforsetupcosts.Answer:

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Applicationofknowledge6）Whenrefiningacostingsystem,acompanyshouldclassifyasmanycostsaspossibleasindirectcosts,therebyminimizingtheextenttowhichcostshavetobetracedratherthanallocated.Answer:

FALSEExplanation:

Whenrefiningacostingsystem,acompanyshouldclassifyasmanycostsaspossibleasdirectcosts,therebyminimizingtheextenttowhichcostshavetobetracedratherthanallocated.Diff:

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Analyticalthinking7）Arefinedcostingsystemprovidesbettermeasurementofthecostsofindirectresourcesusedbydifferentcostobjects,nomatterhowdifferentlyvariouscostobjectsuseindirectresources.Answer:

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Analyticalthinking8）Indirectlaboranddistributioncostswouldmostlikelybeinthesameactivity-costpool.Answer:

FALSEExplanation:

Indirectlaboranddistributioncostswouldnotbeinthesameactivity-costpoolbecausetheircostdriversareverydissimilar.Acostdriverofindirectlaborwouldincludedirectlaborhours,whileacostdriverofdistributioncostswouldinclude,forexample,cubicfeetofcargomoved.Diff:

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Analyticalthinking9）Directtracingofcostsreducestheamountofcostsclassifiedasindirectcosts.Answer:

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Analyticalthinking6Copyright2015PearsonEducation,Inc.10）Acost-allocationbaseisanecessaryelementwhenusingastrategythatwillrefineacostingsystem.Answer:

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Analyticalthinking11）Whatarethefactorsthatarecausingmanycompaniestorefinetheircostingsystemstoobtainmoreaccuratemeasuresofthecostsoftheirproducts?

Answer:

Thefirstcauseisincreasingproductdiversity.Companiesareproducingmanymoreproductsthantheyusedto,placingstrainsonmoresimple,oldercostsystems.Asecondcauseistheoverallincreasedinindirectcostsandtherelativedeclineofdirectcosts.Theindirectnatureofthesecostsrequiresallocation,andanyinaccuraciesinallocationofthesecostsbecomemagnifiedastheseindirectcostsincrease.Athirdcausewouldbeadvancesininformationtechnologythatmakescomplexallocationofindirectcostslessburdensome.Finally,increasedcompetitionfrombothnationalandinternationalcompetitorshasresultedinmorepressuretoreducecosts,aswellasincreasingtheneedforandvalueofinformationtosupportresponsestothesenewthreats.Diff:

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AnalyticalthinkingObjective5.31）ABCsystemscreate_.A）onelargecostpoolB）homogenousactivity-relatedcostpoolsC）activity-costpoolswithabroadfocusD）activity-costpoolscontainingmanydirectcostsAnswer:

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Analyticalthinking2）Activitybasedcostingsystemdiffersfromtraditionalcostingsystemsinthetreatmentof_.A）directlaborcostsB）directmaterialcostsC）primecostsD）indirectcostsAnswer:

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Analyticalthinking7Copyright2015PearsonEducation,Inc.3）ABCsystems_.A）highlightthedifferentlevelsofactivitiesB）limitcostdriverstounitsofoutputC）allocatecostsbasedontheoveralllevelofactivityD）generallyundercostcomplexproductsAnswer:

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Analyticalthinking4）Whichofthefollowingstatementsistrueofactivity-basedcosting?

A）Inactivity-basedcosting,directlabor-hoursisalwaysthebestallocationbasetoallocateallnon-manufacturingindirectcosts.B）Activitybasedcostingismoresuitedtocompanieswithhighproductdiversitythancompanieswithsingleproductline.C）Activitybasedcostingbroadlyaveragesorspreadsthecostofresourcesuniformlytocostobjectssuchasproductsorservices.D）Themainadvantageofactivity-basedcostingoverpeanut-buttercostingistheaccuratedistributionofalldirectcoststotheproducts.Answer:

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