管理会计双语测试题

1、Managerial Accounting Review Question、 True/False QuestionsFor each of the following, circle the T or the F to indicate whether the statement is true or false.1 Managerial accounting refers to the preparation and use of accounting information designed to meet the needs of decision makers inside the

2、business organization.2 Product costs are selling expenses that appear on the income statement.3 Management accounting reports provide a means of monitoring , evaluating and rewarding performance.4 Product costs are offset against revenue in the period in which the related products are sold, rather

3、than the period in which the costs are incurred.5 Manufacturing overhead is considered an indirect cost, since overhead costs generally cannot be traced conveniently and directly to specific units of product.6 Overhead application rates allow overhead to be assigned at the beginning of a period to h

4、elp set prices.7 Pepsi Cola would most likely use a job order costing system.8 Activity-based costing tracks cost to the activities that consume resources.9 Activity based costing uses multiple activity bases to assign overhead costs to units of production.10 The two steps required in Activity Based

5、 Costing are 1) Identify separate activity cost pools and 2) allocate each cost pool to the product using an appropriate cost driver11 The new manufacturing environment is characterized by its shift toward labor intensive production and declining manufacturing overhead costs.12 A cost driver is an a

6、ctivity base that is highly correlated with manufacturing overhead costs.13 In ABC, only one cost driver should be used in applying overhead.14 As companies become more automated overhead costs decrease and direct labor costs increase.15 An equivalent unit measuresthe percentageof a completed units

7、cost that is present in a partially finished unit.16 Costs do not flow through a process cost system in the same sequenceas actual products move through the assembly process.17 Non-value added activities are those that do not add to a product's desirability.18 Target costing centers on new produ

8、ct and service development as opposed to managing the value chain for existing products.19 In the target costing process, target price is computed by adding the desired profit margin to the target product cost.20 Target cost equals target price plus profit margin.21 Variable costs which increase in

9、total amount in direct proportion to an increase in output represent a constant amount per unit of output.22 Any business which operates at less than capacity will have larger fixed costs than variable costs.23 With variable costs, the cost per unit varies with changes in volume.24 The contribution

10、margin is the difference between total revenue and fixed costs.25 The volume of output which causes fixed costs to be equal in amount to variable costs is called the break-even point.26 Any business which operates at less than capacity will have larger fixed costs than variable costs.27 Margin of sa

11、fety is the dollar amount by which actual sales volume exceeds the break-even sales volume.28 Life cycle costing considers all potential resources used by the product over its entire life.29 Economies of scale can be achieved by using facilities more intensively.30 The break-even point is the level

12、of activity at which operating income is equal to cost of goods sold.31 Contribution margin ratio is equal to contribution margin per unit divided by unit sales price.32 Opportunity cost is the benefit that could have been obtained by pursuing an alternate course of action.33 All incremental revenue

13、 or incremental costs are relevant.34 Sunk costs are relevant to decisions about replacing plant assets.35 In determining whether to scrap or to rebuild defective units of product, the cost already incurred in producing the defective units is not relevant.36 In making a decision, management will loo

14、k thoroughly at both relevant and irrelevant data.37 3.Responsibility margin is useful in evaluating the consequences of short-run marketing strategies, while contribution margin is more useful in evaluating long-term profitability.38 The transfer price is the dollar amount used in recording sales t

15、o primary customers.39 Under variable costing, fixed manufacturing costs are treated as period costs, rather than product costs.40 The transfer price is the dollar amount used in recording sales to primary customers.41 Variable costing treats all fixed manufacturing costs as expenses of the current

16、period.42 In full costing when production rises above the amount of sales, some of the fixed costs will remain in inventory.43 Return on Investment (ROI) tells us how much earnings can be expected for the average invested dollar.44 Capital turnover can be improved by reducing invested capital while

17、keeping sales constant.45 The value chain consists of only those activities that increase the selling price of a product as it is distributed to a customer.46 Residual income is calculated by subtracting the minimum acceptable return on the average invested capital from the operating income.二、 Multi

18、ple Choice QuestionsChoose the best answer for each of the following questions and insert the identifying letter in the space provided. 1.Costs that are traceable to a particular unit and are inventoriable are calledA) Period costs B) Product costs C) Overhead costs D) Job costs2. .Determine the amo

19、unt of manufacturing overhead given the following information:a.Depreciation on a factory building$2,400b.Telephone expense in factory office750c.Telephone expense in sales showroom850d.Factory foreman ' s salary5000e.Maintenance for factory'800f. Maintenance for sales showroom680A) $4,010 B

20、) $9,800 C) $8,950 D) $10,54024.Goods that are still in the production process would be in which account?A) Materials inventory B) Work-in-process inventory C)Finished goods inventory D)Cost of goods sold29.The principal difference between managerial accounting and financial accounting is that manag

21、erial accounting information is:A) Prepared by managers.B) Intended primarily for use by decision makers inside the business organization.C) Prepared in accordance with a set of accounting principles developed by the Institute of Certified Managerial Accountants.D) Oriented toward measuring solvency

22、 rather than profitability.30.Management accounting systems are designed to assist organizations in the performance of all of the following functions except:A) The assignment of decision-making authority over company assets.B) Planning and decision-making.C) Monitoring, evaluating and rewarding perf

23、ormance.D) The preparation of income tax returns.35.In comparison with a financial statement prepared in conformity with generally accepted accounting principles, a managerial accounting report is less likely to:A) Focus upon the entire organization as the accounting entity. B) Focus upon future acc

24、ounting periods. C) Make use of estimated amounts. D) Be tailored to the specific needs of an individual decision maker.4.If the salaries of the sales staff of a manufacturing company are improperly recorded as a product cost, what will be the likely effect on net income of the period in which the e

25、rror occurs?A) Net income will be overstated. B) Net income will be understated.C) Net income will be unaffected. D) Net income will be understated only if inventory levels rise. 5.Manufacturing overhead is best described as:A) All manufacturing costs other than direct materials and direct labor.B)

26、All period costs associated with manufacturing operations.C) Indirect materials and indirect labor.D) All operating expenses other than selling expenses and general and administrative expenses. 43.Underapplied overhead at the end of a month:A) Results when actual overhead costs are less than amounts

27、 applied to work in process.B) Indicates a poorly designed cost accounting system.C) Is represented by a debit balance remaining in the Manufacturing Overhead account.D) Is represented by a credit balance remaining in the Manufacturing Overhead account.58.The account Work-in-Process InventoryA) Cons

28、ists of completed goods that have not yet been soldB) Consists of goods being manufactured that are incompleteC) Consists of materials to be used in the production processD) Consists of the cost of new materials used, labor but not overhead.66.Red Star Company uses a job order cost system. Overhead

29、is applied to jobs on the basis of direct labor hours. During the current period, Job No. 288 was charged $400 in direct materials, $450 in direct labor, and $180 in manufacturing overhead. If direct labor costs an average of $15 per hour, the company's overhead application rate is:A) $9 per dir

30、ect labor hour.B) $6 per direct labor hour.C) $17 per direct labor hour.D) $20 per direct labor hour.24.The best cost system to use for a company producing a continuous stream of similar items would be aA) Job order system B) Process costing system C) Production costing system D) No cost system is r

31、equired when jobs are similar64.Ken Gorman 's Company uses a job order cost system and has established a predetermined overhead application rate for the current year of 150% of direct labor cost, based on budgeted overhead of $900,000 and budgeted direct labor cost of $600,000. Job no. 1 was cha

32、rged with direct materials of $30,000 and with overhead of $24,000.The total cost of job no. 1:A) Is $54,000. B)Is $70,000. C)Is $90,000. D) Cannot be determined without additional information.27. Equivalent units of production areA) A measure representing the percentage of a unit's cost that ha

33、s been completed.B) May be computed separately for each input added during productionC) May be assigned to beginning work-in-process or ending work-in-processD) All of the above 27.Equivalent units of production areA) A measure representing the percentage of a unit's cost that has been completed

34、.B) May be computed separately for each input added during productionC) May be assigned to beginning work-in-process or ending work-in-processD) All of the above 21.Process costing would be suitable forA) Automobile repairB) Production of television setsC) Boat building D) K itchen remodelingUse the

35、 following to answer questions 75-76:Riverview Company's budget for the coming year includes $6,000,000 for manufacturing overhead, 100,000 hours of direct labor, and 500,000 hours of machine time.75. Refer to the above data. If Riverview applies overhead using a predetermined rate based on mach

36、ine-hours, what amount of overhead will be assigned to a unit of output which requires 0.5 machine hours and 0.25 labor hours to complete?A) $6.00. B) $15.00. C) $21.00. D) Some other amount.76. Refer to the above data. If Riverview applies overhead using a predetermined rate based on labor-hours, w

37、hat amount of overhead will be assigned to a unit of output which requires 0.5 machine hours and 0.25 labor hours to complete?A) $6.00. B) $15.00. C) $21.00. D) Some other amount. 21.Process costing would be suitable forA) Automobile repairB) Production of television sets C)Boat building D)Kitchen r

38、emodeling21.Which one of the following is not one of the basic procedures related to ABC?A) Identify the activity. B) Create an associated activity cost pool.C) Transact identified cost centers. D) Calculate the cost per unit of activity.23. Examples of value-adding activities include all of the fol

39、lowing except:A) Product design. B) Assembly activities.C) Machinery set-up activities. D) Establishing efficient distribution channels. 26.Just-in-time manufacturing systems are also known as:A) Supply push systems. B)Supply pull systems. C)Demand push systems. D) Demand pull systems.28. Target cos

40、ting is directed toward:A) Reducing the activity costs associated with existing products.B) Identifying the amount by which the costs of existing products must be reduce to achieve a target profit margin.C) The creation and design of products that will provide adequate profits.D) The improvement of

41、existing production processes by eliminating non-value adding activities. 30.During which element of manufacturing cycle time is value added to products?A) Storage and waiting time.B) Processing time.C) Movement time. D) Inspection time. 33.Four categories of costs associated with product quality ar

42、e:A) External failure, internal failure, prevention, and carrying.B) External failure, internal failure, prevention, and appraisal.C) External failure, internal failure, training, and appraisal.D) Warranty, product liability, prevention, and training.41.During cycle time, value is added only duringA

43、) Processing time. B) Storage and waiting time. C) Movement time. D) Inspection time.26.A semivariable cost:A) Increases and decreases directly and proportionately with changes in volume.B) Changes in response to a change in volume, but not proportionately.C) Increases if volume increases, but remai

44、ns constant if volume decreases.D) Changes inversely in response to a change in volume.27.Which of the following is an example of a fixed cost for an airline?A) Depreciation on the corporate headquarters. B) Fuel costs.C) Income taxes expense. D) Passengers' meals.28.In order to calculate break-

45、even sales units, fixed costs are divided by:A) Contribution margin per unit. B) Contribution margin percentage.C) Target operating income.D) Sales volume.29. A company's relevant range of production is:A) The production range from zero to 100% of plant capacity.B) The production range over whic

46、h CVP assumptions are valid.C) The production range beyond the break-even point.D) The production range that covers fixed but not variable costs.30. The break-even point in a cost-volume-profit graph is always found:A) At 50% of full capacity.B) At the sales volume resulting in the lowest average un

47、it cost.C) At the volume at which total revenue equals total variable costs.D) At the volume at which total revenue equals total fixed costs plus total variable costs.32.The contribution ratio is computed as:A) Sales minus variable costs, divided by sales. B) Fixed costs plus variable costs, divided

48、 by sales. C) Sales minus fixed costs, divided by sales.D) Sales divided by variable costs.33.In comparison to selling a product with a low contribution margin ratio, selling a product with a high contribution margin ratio always:A) Requires less dollar sales volume to cover a given level of fixed c

49、osts.B) Results in a greater margin of safety.C) Results in higher operating income. D) Results in a higher contribution margin per unit sold.36.How will a company's contribution margin be affected by an investment in equipment that increases fixed costs in order to achieve a reduction in direct

50、 labor cost?A) Contribution margin will increase.B) Contribution margin will fall.C) Contribution margin will either increase or decrease depending on the relative magnitudes of the changes in fixed and variable costs.D) Contribution margin will remain the same.43.If a product sells for $10, variabl

51、e costs are $6 and fixed costs are $400,000 what would total sales have to be in order to break-even?A) $160,000 B) $166,667 C) $1,000,000 D) $266,66746.If unit sales prices are $10 and variable costs are $6 per unit how many units would have to be sold to break even if fixed costs equal $12,000?A)

52、$1,200 B) $2,000 C) $3,000 D) $2,80062.A company with an operating income of $65,000 and a contribution margin ratio of 55% has a margin of safety of:A) $35,750. B) $118,182.C) $153,932. D) It is not possible to determine the margin of safety from the information provided. 63.The following informati

53、on is available:Sales $100,000Break-even sales $40,000Contribution margin ratio 25%What is the operating income? A) $0. B) $75,000. C) $87,500. D) $12,500.65. A company with monthly fixed costs of $140,000 expects to earn monthly operating income of $10,000 by selling 5,000 units per month. What is

54、the company's expected unit contribution margin? A) $30. B) $28.C) $2. D) The information given is insufficient to determine unit contribution margin. Use the following to answer questions 82-86:Empire Company produces a single product. The selling price is $50 per unit, and variable costs amoun

55、t to $20 per unit. Empire's fixed costs per month total $80,000.82. Refer to the above information. What is the contribution margin ratio of Empire's product? A) 25%. B) 75%. C) 60%. D) 40%.83. Refer to the above information. What is the monthly sales volume in dollars necessary to break eve

56、n? (Rounded)A) $320,000. B) $106,667. C) $200,000. D) $133,333.84. Refer to the above information. How many units must be sold each month to earn a monthly operating income of $25,000?A) 833. B) 2,300.C) 3,500.D) Some other amount.85. Refer to the above information. What will be the monthly margin o

57、f safety (in dollars) if 3,000 units are sold each month?A) $16,667. B) $100,000. C) $12,000. D) $150,000.86. Refer to the above information. What will be Empire's monthly operating income if 3,500 units are sold each month?A) $15,000. B) $25,000. C) $75,000.D) $105,000.24. A cost that has alrea

58、dy been incurred and cannot be changed is called aA) Opportunity cost B) Out of Pocket costC) Joint cost D) Sunk CostUse the following to answer questions 46-48:Tech Products, Inc. is interested in producing and selling an improved widget. Market research indicates that customers would be willing to pay $95 for such a widget and that 50,000 units could be sold each year at this price. The current cost to produce the widget is estimated to be $60.46. Refer to the information above. If Tech Products requires a 25% re