管理会计选择.doc

一单元1. How is management accountable to the owners of the company?（D）A. Providing goods and services at a reasonable priceB. Providing a safe work environmentC. Making loan paymentsD. Providing a return on investments2. Indicate whether the following are characteristics of financial accounting (F) or management accounting (M).Primary users are investors and stakeholders（F）The focus is on relevance of the information and looking towards the future（M）Concern exists on how information affects employees（M）Rules are prescribed by Generally Accepted Accounting Principles (GAAP) （F）Reports are usually summarized and prepared on a quarterly or annual basis（F）Which of the following is NOT a current business trend (A)A. A shift to a product-based economyB. Global competitionC. Just-in-time managementD. Total quality managementIdentify the following as product or period costs for a merchandiser:Cost of inventory items ProductAdvertising PeriodSalaries PeriodFreight-in ProductDelivery expense Period5. Which of the following is an inventory account of a manufacturing company? (D)A. Direct materialsB. Work in processC. Finished goodsD. All of the above6. Which of the following is an indirect cost of a manufacturer? (C)A. Direct materialsB. Direct laborC. Manufacturing overheadD. All of the above7. On the following slide, identify the costs of a furniture manufacturer as:Direct materials DMDirect labor DLManufacturing overhead MOHPeriod cost PWood used for furniture DMWages of factory maintenance workers MOHAdvertising PDepreciation of factory machinery MOHWages of carpenters DLNails and glue MOHProperty taxes of factory MOHProperty taxes of office building P8. Which inventory account is used to compute Cost of goods sold for a manufacturer? (C)A. Direct materialsB. Work in processC. Finished goodsD. Merchandise inventory9. What is the difference between “total manufacturing costs incurred” and “cost of goods manufactured”？ (A)A. The change in Work in process inventory.B. Total manufacturing costs does not include manufacturing overhead.C. Cost of goods manufactured only includes direct costs.D. There is no difference.10. Which of the following is a required ethical standard of the Institute of Management Accountants? (D)A. Maximization of profitB. ProductivityC. EfficiencyD. Integrity三单元Activity-based costing: (A)A. determines a cost driver for each production activity.B. is less accurate than using a predetermined overhead application rate.C. is less common in a competitive business environment.D. is all of the above2. Under ABC, which of the following would be a reasonable cost driver for materials handling? (C)A. Direct labor hoursB. Machine hoursC. Number of partsD. Square feet of warehouse3. What types of decisions are made with activity-based management? (D)A. PricingB. Product mixC. Cost cuttingD. All of the above4. This method of pricing begins with the amount customers are willing to pay and subtracts desired profit to determine the desired cost. (B)A. Traditional costingB. Target pricingC. Market-based costingD. Price profit analysis5. Which of the following is NOT a characteristic of just-in-time (JIT) production? (D)A. Small quantity of materials on handB. Machines and workers grouped in “cells”C. Strong relationship with suppliersD. Minimization of lost sales6. What is unique about accounting for product costs in a JIT system? (A)A. Costs arent recorded until the goods are complete.B. Manufacturing overhead is not allocated to goods.C. Cost of goods sold is an estimate.D. All of the above are true.7. Continuous improvement is an essential piece of which management approach? (B)A. Profit maximizationB. Total quality managementC. Autocratic approachD. Efficiency model8. Which of the following of the four quality costs is likely to be the most expensive? (D)A. PreventionB. AppraisalC. Internal failureD. External failure9. Product testing is an example of which quality cost? (B)A. PreventionB. AppraisalC. Internal failureD. External failure10. Training personnel is an example of which quality cost? (A)A. PreventionB. AppraisalC.Internal failureD. External failure六单元1. Which approach assigns both variable and fixed manufacturing costs to products? （A）A. Absorption costingB. Variable costingC. Neither absorption nor variable costingD. Both absorption and variable costing2. Which approach assigns variable manufacturing costs to products? （D）A. Absorption costingB. Variable costingC. Neither absorption nor variable costingD. Both absorption and variable costing3. Sales revenue minus Cost of goods sold equals? （C）A. Contribution marginB. Operating incomeC. Gross profitD. Product profit4. Sales revenue minus Variable cost of goods sold equals? （C）A. Product profitB. Gross profitC. Contribution marginD. Operating income5.Assuming no beginning inventory, if production is greater than sales, which of the following is TRUE? （D）A. Ending inventory would be lowest under absorption costingB. Ending inventory would be highest under variable costingC. Operating income would be highest under variable costingD. Operating income would be highest under absorption costing6. Add-it-up Co. has variable manufacturing costs of $20 per calculator and fixed manufacturing costs of $100,000. Add-it-up produced 10,000 calculators in June and sold 9,000. What is Add-it-ups COGS using absorption costing? （B）A. $300,000B. $270,000C. $280,000D. $180,0007. Add-it-up Co. has variable manufacturing costs of $20 per calculator and fixed manufacturing costs of $100,000. Add-it-up produced 10,000 calculators in June and sold 9,000. What is Add-it-ups COGS using variable costing? （D）A. $300,000B. $270,000C. $280,000D. $180,0008. Add-it-up Co. has variable manufacturing costs of $20 per calculator and fixed manufacturing costs of $100,000. Add-it-up produced 10,000 calculators in June and sold 9,000. What is Add-it-ups ending inventory using absorption costing? （C）A. $0B. $31,110C. $30,000D. $20,0009. Add-it-up Co. has variable manufacturing costs of $20 per calculator and fixed manufacturing costs of $100,000. Add-it-up produced 10,000 calculators in June and sold 9,000. What is Add-it-ups ending inventory using variable costing? （D）A. $0B. $31,110C. $30,000D. $20,00010. Which statement is most correct? （A）A. GAAP requires absorption costing.B. Absorption costing is more in-line with JIT inventories.C. Variable costing is preferred by financial accountants.D. Variable costing allows “hiding” of costs in inventory.七单元1. Which of the following is NOT a benefit of budgeting? (D)A. It forces managers to plan.B. It promotes communication.C. It provides a benchmark.D. It guarantees profitability.2. Which budget is considered the cornerstone of the master budget? (A)A. The sales budgetB. The production budgetC. The capital expenditures budgetD. The cash budget3. Which of the following is the correct order to calculate budgeted production? (B)A. Beginning inventory + Production Ending inventoryB. Budgeted sales+ Ending inventory Beginning inventoryC. Ending inventory Budgeted sales+ Beginning inventoryD. Budgeted sales + Beginning inventory+ Ending inventory4. Which budgets make up the financial budget? (D)A. Cash budgetB. Budgeted balance sheetC. Budgeted income statementD. All of the above5. Which of the following is correct? (C)A. The direct labor budget is prepared before the production budget.B. The direct materials budget is prepared after the ending finished goods inventory budget.C. The production budget is prepared before the manufacturing overhead budget.D. None of the above are correct.6. A company plans to sell 1,000 CD players in June and 2,000 in July, with an average sales price of $20. They collect 30% in the month of sale and 70% in the month following the sale. How much cash is collected from customers in July? (A)A. $26,000B. $14,000C. $28,000D. $ 6,0007. A companys direct materials budget shows $50,000 in direct materials purchases for April and $60,000 for May. The company pays 60% in the month of purchase and 40% in the month following the sale. How much were cash payments for direct materials in May? (A)A. $56,000 B. $54,000C. $66,000D. $30,0008. Which of the following will NEVER appear on a cash budget? (B)A. Rent paidB. DepreciationC. Cash paid for manufacturing overheadD. Advertising paid9. The budgeted income statement shows: (A)A. budgeted cost of goods sold. B. cash payments for direct materials.C. cash payments for dividends.D. all of the above.10. Sensitivity analysis: (D)A. allows managers to perform what-for analysis.B. allows managers to predict stock markets.C. is a function performed by the human resource department.D. is none of the above.八单元1. A flexible budget: （D）A. is prepared for different activity levels.B. separates variable costs from fixed costs.C. shows variances as favorable or unfavorable.D. is all of the above.2. If the flexible budget sales amount is greater than the amount on the master (static) budget, the result is a(n): （A）A. favorable sales volume variance.B. unfavorable sales volume variance.C. favorable flexible budget variance.D. unfavorable flexible budget variance.3. If a company was trying to improve its labor quantity variance, it would: （C）A. consider pay rates.B. eliminate fringe benefits.C. use time-and-motion studies.D. do all of the above.4. Over which variance do production managers have the least control? (D)A. Direct material quantity varianceB. Direct materials price varianceC. Direct labor quantity varianceD. Direct labor price varianceUse the following data to answer the next questions:During the current month, a company produces 500 widgets.The standard costs are as follows:pounds of direct material at $6 per pound hours of direct labor at $15 per hourActual costs incurred:1060 pounds of direct material at a total cost of $6,0951480 hours of labor at a total cost of $22,570Compute the direct materials price variance. (Actual PriceStandard Price)Actual QuantityActual price = $6,095/1060 lbs = $5.75($5.75 $6.00)1060 lbs = $265 F6Compute the direct materials quantity variance.(Actual Quantity Standard Quantity)Standard PriceStandard quantity = 500 units x 2 lbs = 1000 lbs.（1060 lbs 1000 lbs）$6 =$360 U7. Compute the direct labor price variance. (Actual Price Standard Price)Actual Hours Actual price = $22,570 /1480 = $15.25 ($15.25 $15.00) 1480 = $370 U8. Compute the direct labor quantity variance.(Actual Hours Standard Hours)Standard PriceStandard hours = 500 units x 3 lbs = 1500 hours1485 hrs 1500 hrs$15 =$225 F9.Which overhead variance shows how well managers controlled overhead costs? （B）A. Total overhead varianceB. Overhead flexible budget varianceC. Overhead production volume varianceD. Overhead price variance10. When a company uses a standard cost accounting system, for which amount is the Materials inventory account debited when purchases are made? （D）A. Standard quantity x standard priceB. Actual quantity x actual priceC. Standard quantity x actual priceD. Actual quantity x standard price11. In a standard costing income, how would an unfavorable labor price variance affect Cost of goods sold? （A）A. IncreaseB. DecreaseC. No effect九单元1. Which of following is NOT a service department? （D）A. PayrollB. Physical PlantC. Graphic ServicesD. DVD Profit Center2. A Service department: （A）A. usually generates no revenues.B. provides repairs for customers.C. allocates revenues to shared resources.D. does all of the above.3. Which of the following would be the best choice for allocating shared facilities costs? （B）A. Relative operating expensesB. Number of hours of useC. Number of employeesD. None of the above4. Which allocation base may a company use if cost data are not available or are too costly to collect? （D）A. Relative amount of revenueB. Relative amount of operating incomeC. Neither A nor BD. Either A or B5. Tool Warehouses payroll division services the wrench and the hammer departments. The wrench department has 4 employees and the hammer department has 6 employees. The payroll division incurred $10,000 in costs. How much shared payroll cost will be allocated if costs are shared based on number of employees? （B）A. $4,000 to the hammer departmentB. $4,000 to the wrench departmentC. $6,000 to the wrench departmentD. $10,000 to the wrench department 6. Tool Warehouses payroll division services the wrench and the hammer departments. The wrench department has 35 and the hammer department has 65 employee requests per month. The payroll division incurred $10,000 in costs. How much shared payroll cost will be allocated if costs are shared based on number of requests? （A）A. $6,500 to the hammer departmentB. $6,500 to the wrench departmentC. $3,500 to the hammer departmentD. $10,000 to the hammer department7. Which of the following is a system for evaluating the performance of a manager of a cost, revenue, profit, or investment center? （B）A. Budget accountingB. Responsibility accountingC. Variance accountingD. None of the above8. The manager of this type of responsibility center focuses on increasing sales revenue and controlling costs. This is a(n): （C）A. cost center.B. revenue center.C. profit center.D. investment center9. The type of responsibility center that primarily focuses on keeping expenses down is a(n): （A）A. cost center.B. revenue center.C. profit center.D. investment center.10. The manager of this type of responsibility center has a goal of increasing economic value added. This is a(n): （D）A. cost center.B. revenue center.C. profit center.D. investment center第十章1. Costs that cannot be changed because they occurred in the past are called: （B）A. relevant costs.B. sunk costs.C. fixed costs.D. variable costs.2. Which qualitative characteristic should managers consider as relevant? （D）A. Impact on employee moraleB. Customer relationsC. Impact on qualityD. All of the above3. When should a special sales order be accepted? （C）A. If the reduced price covers all costs to make the productB. If the reduced price covers all fixed costs allocated to the productC. If the reduced price covers all the variable costsD. In all cases when there is excess capacity4. Which of the following is a characteristic of a price-setter? （A）A. Unique productsB. Intense competitionC. Target pricing approachD. All of the above5. The pricing method that begins with the sales price and subtracts the desired profit is called: （B）A. cost-plus pricing.B. target pricing.C. sales less profit pricing.D. profit-focused pricing.6. Which of the following is NOT a factor in deciding whether to drop a product? （C）A. Negative contribution marginB. Impact on sales of other productsC. Unavoidable fixed costsD. Use of freed capacity7. Which of the following is a constraint of a manufacturer? （D）A. Labor hoursB. Machine hoursC. Available materialsD. All of the above8. The decision rule on outsourcing states that a company should outsource if: （A）A. the incremental cost of making the product exceeds the cost to outsource.B. the incremental cost of making the product is less than the cost to outsource.C. fixed costs are unaffected by outsourcing.D. the contribution margin of the product is positive.9. A company decides against outsourcing a product. If it had outsourced, the freed capacity could have been used to earn revenue. This is an example of a(n): （B）A. sunk cost.B. opportunity cost.C. unavoidable fixed cost.D. irrelevant cost.10. Which of the following is a consideration when deciding whether to sell a product “as is” or process it further? （A）A. The cost of processing furtherB. The pricing model emphasizedC. Unavoidable fixed costs incurredD. All of the above第十一单元1. Which of the following decisions would NOT fall under capital budgeting? （C）A. Purchasing new equipmentB. Building a new facilityC. Buying a short-term investmentD. Automating production2. When estimating future cash inflows from a capital investment, which of the following are included? （D）A. Future cash revenue generatedB. Future savings in operating costsC. Future residual valueD. All of the above3. The decision rule regarding the payback period states that the: （A）A. shorter the payback period, the more attractive the investment.B. longer the payback period,