Ch03cost accounting test bank文档格式.docx

Ch03cost accounting test bank文档格式.docx

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TermstoLearn:

cost-volume-profit（CVP）analysis

2.Cost-volume-profitanalysismaybeusedformulti-productanalysiswhentheproportionofdifferentproductsremainsconstant.

cost-volume-profit（CVP）analysis,salesmix

3.ItisassumedinCVPanalysisthattheunitsellingprice,unitvariablecosts,andunitfixedcostsareknownandconstant.

FalseDifficulty:

2Objective:

ItisassumedinCVPanalysisthattheunitsellingprice,unitvariablecosts,andtotalfixedcostsareknownandconstant.

4.InCVPanalysis,thenumberofoutputunitsistheonlyrevenuedriver.

cost-volume-profit（CVP）analysis,revenuedriver

5.ManycompaniesfindeventhesimplestCVPanalysishelpswithstrategicandlong-rangeplanning.

6.InCVPanalysis,totalcostscanbeseparatedintoafixedcomponentthatdoesnotvarywithoutputandacomponentthatisvariablewithoutputlevel.

cost-volume-profit（CVP）analysis

7.InCVPanalysis,variablecostsincludedirectvariablecosts,butdonotincludeindirectvariablecosts.

InCVPanalysisvariablecostsincludedirectvariablecostsandindirectvariablecosts.

8.InCVPanalysis,anassumptionismadethatthetotalrevenuesarelinearwithrespecttooutputunits,butthattotalcostsarenon-linearwithrespecttooutputunits.

InCVPanalysis,anassumptionismadethatthetotalrevenuesandthetotalcostsarenon-linearwithrespecttooutputunits.

9.Arevenuedriverisdefinedasavariablethatcauseschangesinprices.

revenuedriver

Arevenuedriverisdefinedasavariablethatcauseschangesinrevenues.

10.Ifthesellingpriceperunitis$20andthecontributionmarginpercentageis30%,thenthevariablecostperunitmustbe$6.

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contributionmargin

Thenthevariablecostperunitmustbe$14,[$20–（.30x$20）]=$14.

11.Totalrevenueslesstotalfixedcostsequalthecontributionmargin.

contributionmargin

Totalrevenueslesstotalvariablecostsequalthecontributionmargin.

12.Grossmarginisreportedonthecontributionincomestatement.

contributionincomestatement

13.Ifthesellingpriceperunitofaproductis$30,variablecostsperunitare$20,andtotalfixedcostsare$10,000andacompanysells5,000units,operatingincomewouldbe$40,000.

14.Thesellingpriceperunitis$30,variablecostperunit$20,andfixedcostperunitis$3.Whenthiscompanyoperatesabovethebreakevenpoint,thesaleofonemoreunitwillincreasenetincomeby$7.

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TermstoLearn:

Thesaleofonemoreunitwillincreasenetincomeby$10,（$30–$20=$10）.

15.Acompanywithsalesof$100,000,variablecostsof$70,000,andfixedcostsof$50,000willreachitsbreakevenpointifsalesareincreasedby$20,000.

breakevenpoint（BEP）

$50,000/0.30=$166,667oftotalsalesareneededtobreakeven.

16.Breakevenpointisnotagoodplanningtoolsincethegoalofbusinessistomakeaprofit.

breakevenpoint（BEP）

Breakevenpointisanimportantplanningtoolthathelpsmanagersdeterminevolumeofsales/productionneededtobeprofitable.

17.Breakevenpointisthatquantityofoutputwheretotalrevenuesequaltotalcosts.

18.InthegraphmethodofCVPanalysis,thebreakevenpointisthequantityofunitssoldforwhichthetotalrevenueslinecrossestheX-axis.

19.Aprofit-volumegraphshowstheimpactonoperatingincomefromchangesintheoutputlevel.

PVGraph

20.Ifthesellingpriceperunitofaproductis$50,variablecostsperunitare$40,andtotalfixedcostsare$50,000,acompanymustsell6,000unitstomakeatargetoperatingincomeof$10,000.

3Objective:

cost-volume-profit（CVP）analysis

21.Anincreaseinthetaxratewillincreasethebreakevenpoint.

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netincome

Achangeinthetaxratewillnotchangethebreakevenpoint.

22.Ifoperatingincomeis$70,000andtheincometaxrateis30%,thennetincomewillbe$49,000.

netincome

23.Ifplannednetincomeis$21,000andthetaxrateis30%,thenplannedoperatingincomewouldbe$27,300.

Ifplannednetincomeis$21,000andthetaxrateis30%,thenplannedoperatingincomewouldbe$30,000,[$21,000/（1.0–.3）=$30,000].

24.Sensitivityanalysisisa“what-if”techniquethatmanagersusetoexaminehowaresultwillchangeiftheoriginallypredicteddataarenotachievedorifanunderlyingassumptionchanges.

5

sensitivityanalysis

25.Marginofsafetymeasuresthedifferencebetweenbudgetedrevenuesandbreakevenrevenues.

marginofsafety

26.Sensitivityanalysishelpstoevaluatetheriskassociatedwithdecisions.

sensitivityanalysis

27.Ifcontributionmargindecreasesby$1perunit,thenoperatingprofitswillincreaseby$1perunit.

contributionmarginperunit

Ifcontributionmargindecreasesby$1perunit,thenoperatingprofitswilldecreaseby$1perunit.

28.Ifvariablecostsperunitincrease,thenthebreakevenpointwilldecrease.

Ifvariablecostsperunitincrease,thenthebreakevenpointwillalsoincrease.

29.AplannedincreaseinadvertisingwouldbeconsideredanincreaseinfixedcostsinCVPanalysis.

30.Aplanneddecreaseinsellingpricewouldbeexpectedtocauseanincreaseinthequantitysold.

31.Companieswithagreaterproportionoffixedcostshaveagreaterriskoflossthancompanieswithagreaterproportionofvariablecosts.

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operatingleverage

32.Ifacompanyincreasesfixedcosts,thenthebreakevenpointwillbelower.

Ifacompanyincreasesfixedcosts,thenthebreakevenpointwillbehigher.

33.Companiesthataresubstitutingfixedcostsforvariablecostsreceiveagreaterperunitreturnabovethebreakevenpoint.

34.Acompanywithahighdegreeofoperatingleverageisatlesserriskduringdownturnsintheeconomy.

Acompanywithahighdegreeofoperatingleverageisatgreaterriskduringdownturnsintheeconomy.

35.Whetherthepurchasecostofamachineistreatedasfixedorvariabledependsheavilyonthetimehorizonbeingconsidered.

36.Ifacompanyhasadegreeofoperatingleverageof2.0,thatmeansa20%increaseinsaleswillresultina40%increaseinvariablecosts.

operatingleverage

Ifacompanyhasadegreeofoperatingleverageof2.0,thatmeansa20%increaseinsaleswillresultina40%increaseinoperatingincome.

37.Whenacompanyhasatleastsomefixedcosts,thedegreeofoperatingleverageisdifferentatdifferentlevelsofsales.

38.Passenger-milesareapotentialmeasureofoutputfortheairlineindustry.

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39.Inmultiproductsituationswhensalesmixshiftstowardtheproductwiththelowestcontributionmargin,thebreakevenquantitywilldecrease.

salesmix

Inmultiproductsituationswhensalesmixshiftstowardtheproductwiththelowestcontributionmargin,thebreakevenquantitywillincrease.

40.Inmultiproductsituationswhensalesmixshiftstowardtheproductwiththehighestcontributionmargin,operatingincome