管理会计1

CHAPTER 4JOB COSTINGTRUE/FALSE1. Direct costs are allocated to the cost object using a cost-allocation method.Answer: False Difficulty: 1 Objective: 1 Terms to Learn: cost-allocation baseIndirect costs are allocated to the cost object using a cost-allocation method. 2. Quality control costs may be a direct cost of the Manufacturing Department, butan indirect cost of an individual job.Answer: True Difficulty: 2 Objective: 1 Terms to Learn: job3. Cost objects may be jobs, products, or customers.Answer: True Difficulty: 1 Objective: 1 Terms to Learn: job4. The cost driver of an indirect cost is often used as the cost-allocation base.Answer: True Difficulty: 1 Objective: 1 Terms to Learn: cost-allocation base5. A company may use job costing to assign costs to different product lines andthen use process costing to calculate unit costs within each product line.Answer: True Difficulty: 2 Objective: 2 Terms to Learn: job-costing system, process-costing system6. Job costing is commonly used to estimate costs in beverage production.Answer: False Difficulty: 1 Objective: 2 Terms to Learn: job-costing system, process-costing systemProcess costing is commonly used to estimate costs in beverage production. 7. In a job-costing system the cost object is an individual unit, batch, or lot of adistinct product or service.Answer: True Difficulty: 1 Objective: 2 Terms to Learn: job-costing system8. Actual costing is a method of job costing that allocates an indirect cost based onthe actual indirect-cost rate times the actual quantity of the cost-allocation base.Answer: True Difficulty: 1 Objective: 2 Terms to Learn: actual costing9. Process costing is used to assign manufacturing costs to unique batches of aproduct.Answer: False Difficulty: 1 Objective: 2 Terms to Learn: process-costing systemJob costing is used to assign manufacturing costs to unique batches of a product.10. Job costing and process costing systems share the same objective of estimatingproduct costs.Answer: True Difficulty: 1 Objective: 2 Terms to Learn: job-costing system, process-costing system11. While costs are measured for individual jobs in a job cost system, they aremeasured for individual process stages in a process costing system.Answer: True Difficulty: 1 Objective: 2 Terms to Learn: process-costing system12. If indirect-cost rates were based on actual short-term usage, periods of lowerdemand would result in higher costs per unit.Answer: True Difficulty: 3 Objective: 3 Terms to Learn: indirect-cost rate13. In job costing, only direct costs are used to determine the cost of a job.Answer: False Difficulty: 1 Objective: 3 Terms to Learn: job-costing systemBoth direct and indirect costs are used to determine the cost of a job.14. Indirect manufacturing costs should be allocated equally to each job.Answer: False Difficulty: 2 Objective: 3 Terms to Learn: indirect-cost rateNot equally to each job, but according to the use of indirect resources byindividual jobs.15. Each cost pool may have multiple cost allocation bases.Answer: False Difficulty: 2 Objective: 3 Terms to Learn: cost poolThere is only one cost-allocation base for each cost pool.MULTIPLE CHOICE16. Job costing information is used:a. to develop strategiesb. to make pricing decisionsc. for external financial reportingd. All of these answers are correct.Answer: d Difficulty: 1 Objective: 1 Terms to Learn: job17. Product costing information is used by managers:a. to make decisions and strategyb. for planning and controlc. for cost managementd. All of these answers are correct.Answer: d Difficulty: 1 Objective: 1 Terms to Learn: job-costing system18. Each indirect-cost pool of a manufacturing firm:a. utilizes a separate cost-allocation rateb. is a subset of total indirect costsc. relates to one cost objectd. All of these answers are correct.Answer: d Difficulty: 1 Objective: 1 Terms to Learn: cost pool19. An updated costing system should:a. be installed even if the costs outweigh the additional benefitsb. be tailored to fit the underlying operations rather than the current costsystemc. focus specifically on the costing needs of the CFOd. provide all information for management decision needsAnswer: b Difficulty: 2 Objective: 1 Terms to Learn: job-costing system20. In a costing system:a. cost tracing allocates indirect costsb. cost allocation assigns direct costsc. a cost-allocation base can be either financial or nonfinanciald. a cost object should be a product and not a department or a geographicterritoryAnswer: c Difficulty: 2 Objective: 1 Terms to Learn: cost-allocation base21. Assigning direct costs to a cost object is called:a. cost allocationb. cost assignmentc. cost poolingd. cost tracingAnswer: d Difficulty: 1 Objective: 1 Terms to Learn: job-costing system22. __________ is the process of distributing indirect costs to products.a. Cost allocationb. Job cost recordingc. Cost poolingd. Cost tracingAnswer: a Difficulty: 1 Objective: 1 Terms to Learn: cost allocation base23. A __________ links an indirect cost to a cost object.a. cost-allocation baseb. cost poolc. cost assignmentd. cost tracingAnswer: a Difficulty: 1 Objective: 1 Terms to Learn: cost allocation base24. Which of the following includes both traced direct costs and allocated indirectcosts?a. cost tracingb. cost poolsc. cost assignmentsd. cost allocationsAnswer: c Difficulty: 1 Objective: 1 Terms to Learn: job-costing system25. __________ costing is a cost management system that measures the cost ofproducts, services, and customers.a. Jobb. Processc. Normald. All of these answers are correct.Answer: d Difficulty: 2 Objective: 2 Terms to Learn: job-costing system, process-costing system, normal costing26. Fox Manufacturing is a small textile manufacturer using machine-hours as thesingle indirect-cost rate to allocate manufacturing overhead costs to the various jobs contracted during the year. The following estimates are provided for thecoming year for the company and for the Maize High School Science Olympiad Jacket job.Company Maize High School Job Direct materials $50,000 $500Direct manufacturing labor $10,000 $100Manufacturing overhead costs $40,000Machine-hours 100,000 mh 800 mhRequired:a. For Fox Manufacturing, determine the annual manufacturing overheadcost-allocation rate.b. Determine the amount of manufacturing overhead costs allocated to theMaize High School job.c. Determine the estimated total manufacturing costs for the Maize HighSchool job.Answer:a. Manufacturing overhead cost-allocation rate = $0.40 per mh= $40,000/100,000 mhb. $320 estimated manufacturing overhead costs = 800 mh x $0.40 per mhc. Direct materials $500Direct manufacturing labor $100Manufacturing overhead costs $320Estimated total manufacturing costs $920Difficulty: 2 Objectives: 3, 4 Terms to Learn:job costing system,manufacturing overheadallocated27. Jordan Company has two departments, X and Y. Overhead is applied based ondirect labor cost in Department X and machine-hours in Department Y. The following additional information is available:Budgeted Amounts Department X Department Y Direct labor cost $180,000 $165,000 Factory overhead $225,000 $180,000 Machine-hours 51,000 mh 40,000 mhActual data for Job #10 Department X Department Y Direct materials requisitioned $10,000 $16,000 Direct labor cost $11,000 $14,000 Machine-hours 5,000 mh 3,000 mhRequired:a. Compute the budgeted factory overhead rate for Department X.b. Compute the budgeted factory overhead rate for Department Y.c. What is the total overhead cost of Job 10?d. If Job 10 consists of 50 units of product, what is the unit cost of this job?Answer:a. $225,000/$180,000 = 125%b. $180,000/40,000 hrs. = $4.50 per hourc. ($11,000 x 125 percent) + ($4.50 x 3,000 hrs.) = $27,250d. $10,000 + $16,000 + $11,000 + $14,000 + $27,250 =$78,250/50 units = $1,565 per unitDifficulty: 2 Objectives: 3, 5 Terms to Learn:job costing system 28. Isabelle, Inc., uses a budgeted factory overhead rate to apply overhead toproduction. The following data are available for the year ended December 31, 20X5.Budgeted ActualFactory overhead $675,000 $716,000Direct labor costs $450,000 $432,000Direct labor-hours 12,500 dlh 13,325 dlh Required:a. Determine the budgeted factory overhead rate based on direct labor-hours.b. What is the applied overhead based on direct labor-hours?c. Is overhead overapplied or underapplied? Explain.Answer:a. $675,000/12,500 hrs. = $54.00 per hourb. $54.00 x 13,325 hrs. = $719,550c. $716,000 – $719,550 = $3,550 overapplied。