管理会计作业

管理会计作业管理会计作业管理会计作业资料仅供参考文件编号：2022年4月管理会计作业版本号：A修改号：1页次：1.0审核：批准:发布日期：PROCESSCOSTINGTRUE/FALSE1. Examplesofindustriesthatwoulduseprocesscostingincludethepharmaceuticalandsemiconductorindustry. Answer: True Difficulty: 1 Objective: 1 TermstoLearn: process-costingsystem2. Theprincipaldifferencebetweenprocesscostingandjobcostingisthatinjobcostinganaveragingprocessisusedtocomputetheunitcostsofproductsorservices. Answer: False Difficulty: 2 Objective: 1 TermstoLearn: process-costingsystem Theaveragingprocessisusedtocalculateunitcostsinprocesscosting.3. Process-costingsystemsseparatecostsintocostcategoriesaccordingtothetimingofwhencostsareintroducedintotheprocess. Answer: True Difficulty: 2 Objective: 1 TermstoLearn: process-costingsystem4. Estimatingthedegreeofcompletionforthecalculationofequivalentunitsisusuallyeasierforconversioncoststhanitisfordirectmaterials. Answer: False Difficulty: 2 Objective: 1 TermstoLearn: equivalentunits Estimatingthedegreeofcompletioniseasierforthecalculationofdirectmaterialssincedirectmaterialscanbemeasuredmoreeasilythanconversioncosts.5. Processcostingwouldbemostlikelyusedbyafirmthatproducesheterogeneousproducts. Answer: False Difficulty: 1 Objective: 1 TermstoLearn: processcosting Processcostingwouldbemostlikelyusedbyafirmthatproduceshomogeneousproducts.

6. Thelaststepinaprocess-costingsystemistodeterminetheequivalentunitsfortheperiod. Answer: False Difficulty: 2 Objective: 2 TermstoLearn: processcosting Thelaststepinaprocess-costingsystemistoassignthecostsincurredtocompletedunitsandtounitsinendingworkinprocess.7. Equivalentunitsarecalculatedseparatelyforeachinput. Answer: True Difficulty: 2 Objective: 3 TermstoLearn: equivalentunits8. Inaprocess-costingsystem,thereisalwaysaseparateWork-in-Processaccountforeachdifferentprocess. Answer: True Difficulty: 2 Objective: 3 TermstoLearn: processcosting9. Process-costingjournalentriesandjob-costingjournalentriesaresimilarwithrespecttodirectmaterialsandconversioncosts. Answer: True Difficulty: 2 Objective: 4 TermstoLearn: process-costingsystem10. Theaccounting(forabakery)entrytorecordthetransferofrollsfromthemixingdepartmenttothebakingdepartmentis: WorkinProcess-MixingDepartment WorkinProcess-BakingDepartment Answer: False Difficulty: 2 Objective: 4 TermstoLearn: process-costingsystem Thecorrectaccountingentryistheoppositeoftheentryshownhere.11. Theweighted-averageprocesscostingmethoddoesnotdistinguishbetweenunitsstartedinthepreviousperiodbutcompletedduringthecurrentperiodandunitsstartedandcompletedduringthecurrentperiod. Answer: True Difficulty: 2 Objective: 5 TermstoLearn: weighted-averageprocess-costingmethod

12. Equivalentunitsinbeginningworkinprocess+equivalentunitsofworkdoneinthecurrentperiodequalsequivalentunitscompletedandtransferredoutinthecurrentperiodminusequivalentunitsinendingworkinprocess. Answer: False Difficulty: 2 Objective: 5 TermstoLearn: equivalentunits Thesecondpartoftheequationshouldbe:equivalentunitscompletedandtransferredoutinthecurrentperiodPLUSequivalentunitsinendingworkinprocess.13. Intheweighted-averagecostingmethod,thecostsofdirectmaterialsinbeginninginventoryarenotincludedinthecostperunitcalculationsincedirectmaterialsarealmostalwaysaddedatthestartoftheproductionprocess. Answer: False Difficulty: 2 Objective: 5 TermstoLearn: weighted-averageprocess-costingmethod Thecostsofthedirectmaterialsareincludedinthecostperunitcalculation.14. Theweighted-averagecostisthetotalofallcostsenteringtheWork-in-Processaccount(whethertheyarefrombeginningwork-in-processorfromworkstartedduringthecurrentperiod)dividedbytotalequivalentunitsofworkdonetodate. Answer: True Difficulty: 2 Objective: 5 TermstoLearn: weighted-averageprocess-costingmethod15. Theequivalentunitsarenotneededinaweighted-averagesystem,becauseallcostsarejustaveraged. Answer: False Difficulty: 2 Objective: 5 TermstoLearn: equivalentunits,weighted-averageprocess-costingmethod Theequivalentunitsareneededinaweighted-averagesystem,eventhoughallcostsareaveraged.16. ThecostofunitscompletedcandiffermateriallybetweentheweightedaverageandtheFIFOmethodsofprocesscosting. Answer: True Difficulty: 2 Objective: 5,6 TermstoLearn: weighted-averageprocess-costingmethod,first-in,first-out(FIFO)process-costingmethod17. Thefirst-in,first-out(FIFO)processcostingmethodassignsthecostofthepreviousaccountingperiod’sequivalentunitsinbeginningwork-in-processinventorytothefirstunitscompletedandtransferredoutoftheprocess. Answer: True Difficulty: 2 Objective: 6 TermstoLearn: first-in,first-out(FIFO)process-costingmethod18. AdistinctivefeatureoftheFIFOprocesscostingmethodisthattheworkdoneonbeginninginventorybeforethecurrentperiodisaveragedwithworkdoneinthecurrentperiod. Answer: False Difficulty: 2 Objective: 6 TermstoLearn: first-in,first-out(FIFO)process-costingmethod AdistinctivefeatureoftheFIFOprocesscostingmethodisthattheworkdoneonbeginninginventorybeforethecurrentperiodiskeptseparatefromworkdoneinthecurrentperiod.19. TheFIFOprocesscostingmethodmergestheworkandthecostsofthebeginninginventorywiththeworkandthecostsdoneduringthecurrentperiod. Answer: False Difficulty: 2 Objective: 6 TermstoLearn: first-in,first-out(FIFO)process-costingmethod FIFOonlyincludestheworkdoneduringthecurrentperiod.20. Thefirst-in,first-outprocess-costingmethodassumesthatunitsinbeginninginventoryarecompletedduringthecurrentaccountingperiod. Answer: True Difficulty: 2 Objective: 6 TermstoLearn: first-in,first-out(FIFO)process-costingmethodMULTIPLECHOICE21. Costingsystemsthatareusedforthecostingoflikeorsimilarunitsofproductsinmassproductionarecalled: a. inventory-costingsystems b. job-costingsystems c. process-costingsystems d. weighted-averagecostingsystems Answer: c Difficulty: 1 Objective: 1 TermstoLearn: process-costingsystem22. Whichofthefollowingmanufacturedproductswouldnotuseprocesscosting?

a. 767jetaircraft b. 19-inchtelevisionsets c. Custombuilthouses d. Bothaandcarecorrect. Answer: d Difficulty: 2 Objective: 1 TermstoLearn: process-costingsystem23. Processcostingshouldbeusedtoassigncoststoproductswhenthe: a. unitsproducedaresimilar b. unitsproducedaredissimilar c. calculationofunitcostsrequirestheaveragingofunitcostsoverallunitsproduced d. Eitheraorcarecorrect. Answer: d Difficulty: 2 Objective: 1 TermstoLearn: process-costingsystem24. Whichoneofthefollowingstatementsistrue?

a. Inajob-costingsystem,individualjobsusedifferentquantitiesofproductionresources. b. Inaprocess-costingsystemeachunitusesapproximatelythesameamountofresources. c. Anaveragingprocessisusedtocalculateunitcostsinajob-costingsystem. d. Bothaandbarecorrect. Answer: d Difficulty: 2 Objective: 1 TermstoLearn: process-costingsystem25. Conversioncosts: a. includeallthefactorsofproduction b. includedirectmaterials c. inprocesscostingareusuallyconsideredtobeaddedevenlythroughouttheproductionprocess d. Bothbandcarecorrect. Answer: c Difficulty: 2 Objective: 1 TermstoLearn: process-costingsystem26. Anexampleofabusinesswhichwouldhavenobeginningorendinginventorybutwhichcoulduseprocesscostingtocomputeunitcostswouldbea: a. clothingmanufacturer b. corporationwhosesolebusinessactivityisprocessingthecustomerdepositsofseveralbanks c. manufacturerofcustomhouses d. manufactureroflargeTVs Answer: b Difficulty: 2 Objective: 1 TermstoLearn: process-costingsystem27. Whichofthefollowingstatement(s)concerningconversioncostsiscorrect?

a. Estimatingthedegreeofcompletionofdirectmaterialsinapartiallycompletedunitisusuallyeasiertocalculatethanestimatingthedegreeofcompletionforconversioncosts. b. Thecalculationofequivalentunitsisrelativelyeasyforthetextileindustry. c. Estimatesareusuallynotconsideredacceptable. d. Both(b)and(c)arecorrect. Answer: a Difficulty: 2 Objective: 1 TermstoLearn: process-costingsystem,equivalentunits28. Thepurposeoftheequivalent-unitcomputationisto: a. convertcompletedunitsintotheamountofpartiallycompletedoutputunitsthatcouldbemadewiththatquantityofinput. b. assistthebusinessindeterminingendinginventory. c. convertpartiallycompletedunitsintotheamountofcompletedoutputunitsthatcouldbemadewiththatquantityofinput. d. Bothbandcarecorrect. Answer: c Difficulty: 2 Objective: 3 TermstoLearn: equivalentunits29. Inaprocess-costingsystem,thecalculationofequivalentunitsisusedforcalculating: a. thedollaramountofendinginventory b. thedollaramountofthecostofgoodssoldfortheaccountingperiod c. thedollarcostofaparticularjob d. Bothaandbarecorrect. Answer: d Difficulty: 1 Objective: 3 TermstoLearn: equivalentunits30. WhenabakerytransfersgoodsfromtheBakingDepartmenttotheDecoratingDepartment,theaccountingentryis a. WorkinProcess—BakingDepartment WorkinProcess—DecoratingDepartment b. WorkinProcess—DecoratingDepartment AccountsPayable c. WorkinProcess—DecoratingDepartment WorkinProcess—BakingDepartment d. WorkinProcess—BakingDepartment AccountsPayable Answer: c Difficulty: 2 Objective: 4 TermstoLearn:process-costingsystem EXERCISESANDPROBLEMS31. 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.Unitcostsarethencomputedbydividingtotalcostsbythenumberofunits. Theprincipaldifferencebetweenprocesscostingandjobcostingistheextentofaveragingusedtocomputeunitcosts.Asnotedaboveinjobcosting,individualjobsusedifferentquantitiesofproductionresources;whereasinprocesscosting,weassumethateachjobusesapproximatelythesameamountofresources. Difficulty: 2 Objective: 1 TermstoLearn: process-costingsystem32. Whydoweneedtoaccumulateandcalculateunitcostsinprocesscosting(andalsojobcosting) Answer: Weneedtoaccumulateunitcoststo: 1. Budget(planning) 2. Price 3. Accountforthecosts 1. Budgeting—Tooperateasuccessfulbusiness,weshouldpreparebudgets,reviewtheresults,andmakedecisionsastohowwellourbusinessisdoing.Ourbusinesshasformulatedplansforthefuture.Theresourcesweneedforthefuture(materials,conversioncosts,facilities,etc.)willdependonourestimateoftheresourcesweneedtoaccomplishthesegoals.Animportantpartoftheseestimatesistheunitcostsoftheproductsweplantoproduce.Theseunitcostswilltellushowmanydollarswemustacquiretoaccomplishourplans. 2. Price—Inordertobeaprofitablebusiness,wemustsellourproductatapriceinexcessofwhatitcostsustoproducetheproduct.Essentialforthepricingdecisionisthecostperunit.Wewillalsolearnwhetherwecansellaproductataprofit. 3. Accounting—Duringthecourseoftheaccountingperiod,wewillbeaccumulatingcosts.Attheendoftheaccountingperiod,wemustallocatethispoolofcostsbetweentheunitsthatweretransferredoutandthegoodsinendinginventory.Unitcostsareessentialforthispurpose. Difficulty: 1 Objective: 1 TermstoLearn: process-costingsystem33. TheZygonCorporationwasrecentlyformedtoproduceasemiconductorchipthatformsanessentialpartofthepersonalcomputermanufacturedbyamajorcorporation.Thedirectmaterialsareaddedatthestartoftheproductionprocesswhileconversioncostsareaddeduniformlythroughouttheproductionprocess.JuneisZygon'sfirstmonthofoperations,andtherefore,therewasnobeginninginventory.Directmaterialscostforthemonthtotaled$895,000,whileconversioncostsequaled$4,225,000.Accountingrecordsindicatethat475,000chipswerestartedinJuneand425,000chipswerecompleted. Endinginventorywas50%completeastoconversioncosts. Required: a. WhatisthetotalmanufacturingcostperchipforJune? b. Allocatethetotalcostsbetweenthecompletedchipsandthechipsinendinginventory. Answer: a.DirectMaterialsConversionCostsTotalCosttoaccountfor$895,000$4,225,000$5,120,000Dividedbyequivunits475,000450,000Costperequivalentunits$$$ Equivalentunitforconversioncosts= 425,000completed+(50,000xcompleted)= 425,000+25,000=450,000 b. Completedunits=$x425,000= $4,789,750 Endingworkinprocess=Directmaterials=50,000x$= $94,000 Conversioncosts=25,000x$= 234,750 Total $328