版权说明:本文档由用户提供并上传,收益归属内容提供方,若内容存在侵权,请进行举报或认领
文档简介
Chapter6:AbsorptionandVariableCosting
6.1-1Whenacompanyproducesmoreunitsthanitsells,absorptioncostingincomewillexceedvariable
costingincome.
Answer:True
Difficulty:1
LO:6-1
EOCRef:S6-1
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.1-2Theabsorptioncostingapproachconsidersfixedmanufacturingcoststobeproductcosts.
Answer:True
Difficulty:1
LO:6-1
EOCRef:S6-1
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.1-3Theabsorptioncostingapproachconsidersfixedmarketingcoststobeproductcosts.
Answer:False
Difficulty:1
LO:6-1
EOCRef:S6-1
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.1-4Ifacompany'sbeginninginventoryiszeroandeverythingissoldinthemonthitisproduced,variable
andabsorptioncostingwillalwaysyieldthesameresult.
Answer:True
Difficulty:1
LO:6-1
EOCRef:S6-1
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.1-5Acompanysoldeverythingitproducedinthemonth;therefore,variableandabsorptioncostingwill
alwaysyieldthesameresult.
Answer:False
Difficulty:1
LO:6-1
EOCRef:S6-1
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.1-6Acompany'sbeginningandendinginventorycountisthesame.Therefore,theendinginventoryamount
onthebalancesheetmustbethesameamountasthebeginninginventoryamount.
Answer:False
Difficulty:1
LO:6-1
EOCRef:S6-l
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.1-7Ifacompany'sbeginningandendinginventorycountisthesameandproductioncostperunitarethe
same;then,theendinginventoryamountonthebalancesheetmustbethesamedollaramountasthe
beginninginventorydollaramount.
Answer:True
Difficulty:1
LO:6-1
EOCRef:S6-1
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.1-8Ifacompany'sbeginningandendinginventorycountisthesameandproductioncostperunitarethe
same;then,thecostofgoodssoldmustbethesamedollaramountwhetherusingvariableorabsorption
costing
Answer:False
Difficulty:1
LO:6-1
EOCRef:S6-1
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.1-9GAAPrequiresthatweassignfixedandvariablemanufacturingcoststotheproduct.
Answer:True
Difficulty:1
LO:6-1
EOCRef:S6-1
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.1-10Ifproductionexceedsunitssold,whichofthefollowingstatementsiscorrect?
A)Thesameoperatingincomewillresultunderbothavariablecostingandabsorptioncostingincome
statement.
B)Ahigheroperatingincomewillresultunderavariablecostingincomestatement.
C)Aloweroperatingincomewillresultunderanabsorptioncostingincomestatement.
D)Ahigheroperatingincomewillresultunderanabsorptioncostingincomestatement.
Answer:D
Difficulty:2
LO:6-1
EOCRef:P6-18A
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.1-11Anincreaseininventorywillcausewhichofthefollowingwhencomparingoperatingincomeunder
absorptionandvariablecosting?
A)Thesameoperatingincomeunderbothvariablecostingandabsorptioncosting
B)Ahigheroperatingincomeundervariablecosting
C)Aloweroperatingincomeundervariablecosting
D)Alowercostofgoodssoldandahigheroperatingincomeunderabsoiptioncosting
Answer:C
Difficulty:2
LO:6-1
EOCRef:S6-3
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.1-12Adecreaseininventorywillcausewhichofthefollowingwhencomparingoperatingincomeunder
absorptionandvariablecosting?
A)Thesameoperatingincomeunderbothvariablecostingandabsorptioncosting
B)Ahigheroperatingincomeundervariablecosting
C)Aloweroperatingincomeundervariablecosting
D)Alowercostofgoodssoldandahigheroperatingincomeunderabsorptioncosting
Answer:B
Difficulty:2
LO:6-1
EOCRef:S6-3
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-1Variablecostingconsidersallcoststobeproductcosts.
Answer:False
Difficulty:1
LO:6-2
EOCRef:S6-2
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-2Absorptioncostingnetincomecanbemanipulatedbymanagementthroughinventorylevels.
Answer:True
Difficulty:1
LO:6-2
EOCRef:S6-2
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-3Assumingnobeginninginventory,ifproductionisgreaterthansales,operatingincomeishigherunder
absorptioncostingthanundervariablecosting.
Answer:True
Difficulty:1
LO:6-2
EOCRef:S6-2
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-4Assumingnobeginninginventory,ifproductionisgreaterthansales,endinginventoryishigherunder
absorptioncostingthanundervariablecosting.
Answer:True
Difficulty:1
LO:6-2
EOCRef:S6-2
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-5Assumingnobeginninginventoryandmonthlyproductionisgreaterthansales.Managementwhoare
paidabonusbasedonoperatingincomewouldreceivealargerbonusundervariablecosting,because
onlythevariablecostswillbedeductedinderivingoperatingincome.
Answer:False
Difficulty:1
LO:6-2
EOCRef:S6-2
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-6Commissionspaidtosalespersonsareconsideredavariableproductcostundervariablecosting.
Answer:False
Difficulty:1
LO:6-2
EOCRef:S6-2
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-7Directmaterialsanddirectlaborarealwaysconsideredproductcostsunderbothvariableandabsorption
costing.
Answer:True
Difficulty:1
LO:6-2
EOCRef:S6-2
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-8Straight-linedepreciationonthemanufacturingequipmentwouldbeconsideredaproductcostunderboth
variableandabsorptioncosting.
Answer:False
Difficulty:1
LO:6-2
EOCRef:S6-2
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-9Sellingandadministrativeexpenses(suchascommissionspaidtosalespersonnel)areconsideredpartof
productcostsundervariablecosting.
Answer:False
Difficulty:1
LO:6-2
EOCRef:S6-8
AACSB:ReflectiveThinking
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-10SeattleEnterprisesproducespackagedfreshmealswhichitsellsfor$10each.Duringthecurrentmonth,
Seattleproduced2,800meals,butonlysold2,700meals.Thevariablecostpermealwas$6andthesales
commissionspermealwere$1.Totalfixedmanufacturingcostswere$1,400andtotalfixedmarketing
andadministrativecostswere$1,200.Whatistheproductcostpermealunderabsorptionandunder
variablecosting?
A)$6.00underabsorptioncostingand$6.00undervariablecosting
B)$6.50underabsoiptioncostingand$6.00undervariablecosting
C)$7.50underabsorptioncostingand$7.00undervariablecosting
D)$6.00underabsorptioncostingand$7.00undervariablecosting
Answer:B
Difficulty:2
LO:6-2
EOCRef:S6-4
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-11SeattleEnterprisesproducespackagedfreshmealsthatsellfor$10each.Duringthecurrentmonth,
Seattleproduced2,800meals,butonlysold2,700meals.Thevariablecostpermealwas$6andthesales
commissionspermealwere$1.Totalfixedmanufacturingcostswere$1,400andtotalfixedmarketing
andadministrativecostswere$1,200.Grossprofitunderabsorptioncostingwouldbe:
A)$10,800.
B)$9,450.
C)$8,250.
D)$5,550.
Answer:B
Difficulty:2
LO:6-2
EOCRef:E6-17
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-12SeattleEnterprisesproducespackagedfreshmealsthatsellfor$10each.Duringthecurrentmonth,
Seattleproduced2,800meals,butonlysold2,700meals.Thevariablecostpermealwas$6andthesales
commissionspermealwere$1.Totalfixedmanufacturingcostswere$1,400andtotalfixedmarketing
andadministrativecostswere$1,200.Netincomeunderabsorptioncostingwouldbe:
A)$10,800.
B)$9,450.
C)$5,550.
D)$5,500.
Answer:C
Difficulty:2
LO:6-2
EOCRef:E6-17
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-13SeattleEnterprisesproducespackagedfreshmealswhichitsellsfor$10each.Duringthecurrentmonth,
Seattleproduced2,800meals,butonlysold2,700meals.Thevariablecostpermealwas$6andthesales
commissionspermealwere$1.Totalfixedmanufacturingcostswere$1,400andtotalfixedmarketing
andadministrativecostswere$1,200.Contributionmarginprofitundervariablecostingwouldbe:
A)$10,800.
B)$9,450.
C)$8,250.
D)$5,550.
Answer:A
Difficulty:2
LO:6-2
EOCRef:El8-A3
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-14SeattleEnterprisesproducespackagedfreshmealswhichitsellsfor$10each.Duringthecurrentmonth,
Seattleproduced2,800meals,butonlysold2,700meals.Thevariablecostpermealwas$6andthesales
commissionspermealwere$1.Totalfixedmanufacturingcostswere$1,400andtotalfixedmarketing
andadministrativecostswere$1,200.Netincomeundervariablecostingwouldbe:
A)$10,800.
B)$9,450.
C)$5,550.
D)$5,500.
Answer:D
Difficulty:2
LO:6-2
EOCRef:E6-17
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-15Duringthecurrentperiod,20,000unitswereproducedand17,000unitsweresold.Fixedmanufacturing
costsincurredamountedto$40,000.Anabsorptioncostingincomestatementwouldreportthefixed
manufacturingcostsasa:
A)$40,000deductionfromsalesrevenuetoobtaincontributionmargin.
B)$40,000deductionfromsalesrevenuetoobtainoperatingincome.
C)$34,000deductionfromgrossprofittoobtainoperatingincome.
D)$34,000deductionfromsalesrevenuetoobtaingrossprofit.
Answer:D
Difficulty:2
LO:6-2
EOCRef:P6-18A
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-16Duringthecurrentperiod,20,000unitswereproducedand17,000unitsweresold.Fixedmanufacturing
costsincurredamountedto$40,000.Ifvariableproductioncoststotaled$100,000,whatisthecostper
unitusingvariablecosting?
A)$2.00
B)$5.00
C)$7.00
D)$7.35
Answer:B
Difficulty:2
LO:6-2
EOCRef:P6-18A
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-17Duringthecurrentperiod,20,000unitswereproducedand17,000unitsweresold.Fixedmanufacturing
costsincurredamountedto$40,000.Ifvariableproductioncoststotaled$100,000,whatisthecostper
unitusingabsorptioncosting?
A)$2.00
B)$5.00
C)$7.00
D)$7.35
Answer:C
Difficulty:2
LO:6-2
EOCRef:P6-18A
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-18Duringthecurrentperiod,20,000unitswereproducedand17,000unitsweresold.Fixedmanufacturing
costsincurredamountedto$40,000.Avariablecostingincomestatementwouldreportthefixed
manufacturingcostsasa:
A)$40,000deductionfromsalesrevenuetoobtaincontributionmargin.
B)$40,000deductionfromsalesrevenuetoobtaingrossprofit.
C)$34,000deductionfromgrossprofittoobtainoperatingincome.
D)$34,000deductionfromsalesrevenuetoobtaingrossprofit.
Answer:B
Difficulty:2
LO:6-2
EOCRef:P6-18A
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-19Duringthecurrentperiod,20,000unitswereproducedand17,000unitsweresold.Fixedmanufacturing
costsincurredamountedto$40,000.Ifvariableproductioncostswere$100,000,avariablecosting
incomestatementwouldreportthevariablemanufacturingcostsasa:
A)$85,000deductionfromsalesrevenuetoobtaincontributionmargin.
B)$85,000deductionfromsalesrevenuetoobtaingrossprofit.
C)$100,000deductionfromsalesrevenuetoobtaincontributionmargin.
D)$100,000deductionfromsalesrevenuetoobtaingrossprofit.
Answer:A
Difficulty:2
LO:6-2
EOCRef:P6-18A
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-20Duringthecurrentperiod,20,000unitswereproducedand17,000unitsweresold.Fixedmanufacturing
costsincurredamountedto$40,000.Ifvariableproductioncostswere$100,000,anabsorptioncosting
incomestatementwouldreportthevariablemanufacturingcostsasa:
A)partofcostofgoodssold.
B)$85,000deductionfromsalesrevenuetoobtaincontributionmargin.
C)$100,000deductionfromsalesrevenuetoobtaincontributionmargin.
D)$100,000deductionfromsalesrevenuetoobtaingrossprofit.
Answer:A
Difficulty:2
LO:6-2
EOCRef:P6-18A
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-21Pat'sHatsproducessunvisors.Productiondataforthefirstmonthfollow:
October
Directmaterialscostperunit$0.75
Directlaborcostperunit$1.50
Variablemanufacturingoverheadcostperunit$0.25
Totalfixedmanufacturingoverheadcosts$10,000
Totalfixedsellingandadministrativecosts$40,000
Numberofunitsproduced20,000
Numberofunitsold19,600
Salepriceperunit$10
WhatistheabsorptioncostperhatforOctober?
A)$2.25
B)$2.50
C)$3.00
D)$5.00
Answer:C
Difficulty:2
LO:6-2
EOCRef:E6-10
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-22PafsHatsproducessunvisors.Productiondataforthefirstmonthfollow:
October
Directmaterialscostperunit$0.75
Directlaborcostperunit$1.50
Variablemanufacturingoverheadcostperunit$0.25
Totalfixedmanufacturingoverheadcosts$10,000
Totalfixedsellingandadministrativecosts$40,000
Numberofunitsproduced20,000
Numberofunitsold19,600
Salepriceperunit$10
WhatisthevariablecostperhatforOctober?
A)$2.25
B)$2.50
C)$3.00
D)$5.00
Answer:B
Difficulty:2
LO:6-2
EOCRef:E6-10
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-23Pat'sHatsproducessunvisors.Productiondataforthefirstmonthfollow:
October
Directmaterialscostperunit$0.75
Directlaborcostperunit$1.50
Variablemanufacturingoverheadcostperunit$0.25
Totalfixedmanufacturingoverheadcosts$10,000
Totalfixedsellingandadministrativecosts$40,000
Numberofunitsproduced20,000
Numberofunitsold19,600
Salepriceperunit$10
WhatistheOctobernetincomeusingabsorptioncosting?
A)$97,000
B)$97,200
C)$137,200
D)$137,000
Answer:B
Difficulty:2
LO:6-2
EOCRef:E6-11
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-24PafsHatsproducessunvisors.Productiondataforthefirstmonthfollow:
October
Directmaterialscostperunit$0.75
Directlaborcostperunit$1.50
Variablemanufacturingoverheadcostperunit$0.25
Totalfixedmanufacturingoverheadcosts$10,000
Totalfixedsellingandadministrativecosts$40,000
Numberofunitsproduced20,000
Numberofunitsold19,600
Salepriceperunit$10
WhatistheOctobernetincomeusingvariablecosting?
A)$97,000
B)$97,200
C)$137,200
D)$137,000
Answer:B
Difficulty:2
LO:6-2
EOCRef:E6-12
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-25Pat'sHatsproducessunvisors.Productiondataforthefirstmonthfollow:
October
Directmaterialscostperunit$0.75
Directlaborcostperunit$1.50
Variablemanufacturingoverheadcostperunit$0.25
Totalfixedmanufacturingoverheadcosts$10,000
Totalfixedsellingandadministrativecosts$40,000
Numberofunitsproduced20,000
Numberofunitsold19,600
Salepriceperunit$10
WhatisthevalueoftheOctoberendinginventoryusingabsorptioncosting?
A)$1,200
B)$1,000
C)$200
D)$400
Answer:A
Difficulty:2
LO:6-2
EOCRef:E6-11
AACSB:AnalyticSkills
AICPABusinessPerspectiveCompetencies:CriticalThinking
AICPAFunctionalCompetencies:Measurement,Reporting
6.2-26PafsHatsproducessunvisors.Productiondataforthefirstmonthfollow:
October
Directmaterialscostperunit$0.75
Directlaborcostperunit$1.50
Variablemanufacturingoverheadcostperuni
温馨提示
- 1. 本站所有资源如无特殊说明,都需要本地电脑安装OFFICE2007和PDF阅读器。图纸软件为CAD,CAXA,PROE,UG,SolidWorks等.压缩文件请下载最新的WinRAR软件解压。
- 2. 本站的文档不包含任何第三方提供的附件图纸等,如果需要附件,请联系上传者。文件的所有权益归上传用户所有。
- 3. 本站RAR压缩包中若带图纸,网页内容里面会有图纸预览,若没有图纸预览就没有图纸。
- 4. 未经权益所有人同意不得将文件中的内容挪作商业或盈利用途。
- 5. 人人文库网仅提供信息存储空间,仅对用户上传内容的表现方式做保护处理,对用户上传分享的文档内容本身不做任何修改或编辑,并不能对任何下载内容负责。
- 6. 下载文件中如有侵权或不适当内容,请与我们联系,我们立即纠正。
- 7. 本站不保证下载资源的准确性、安全性和完整性, 同时也不承担用户因使用这些下载资源对自己和他人造成任何形式的伤害或损失。
最新文档
- 债务合同协议范本
- 公司收购的协议范本
- 年终总结报告分享资料
- 全国赛课一等奖初中统编版七年级道德与法治上册《在劳动中创造人生价值》课件
- (参考)酒瓶项目立项报告
- 2023年大功率多功能电子式电度表项目融资计划书
- 2023年工业涂料水性色浆项目融资计划书
- ASP模拟考试题及答案
- 养老院老人请假外出审批制度
- 《标准成本差异分析》课件
- 乳制品购销合同
- 2024-2025学年深圳市初三适应性考试模拟试卷历史试卷
- 部编版历史九年级上册第六单元 第17课君主立宪制的英国【课件】y
- 2024政府采购评审专家考试题库附含答案
- 2022年内蒙古导游资格考试(含各科)题库(含答案和必背题)
- 道路清扫环卫报价方案
- 浙江省绍兴市上虞区2023-2024学年四年级上学期语文期末试卷
- 军人抚恤优待条例培训2024
- 2023年EHS工作年度总结及2024年工作展望(新版)
- DBJT 13-460-2024 既有多层住宅建筑增设电梯工程技术标准
- 社会信用法概论智慧树知到期末考试答案章节答案2024年湘潭大学
评论
0/150
提交评论