发布时间 : 星期五 文章cost accounting test bank chapter 2更新完毕开始阅读
Cost Accounting, 15e (Horngren/Datar/Rajan)
Chapter 2 An Introduction to Cost Terms and Purposes
Objective 2.1
1) An actual cost is ________. A) is the cost incurred
B) is a predicted or forecasted cost
C) is anything for which a cost measurement is desired
D) is the collection of cost data in some organized way by means of an accounting system Answer: A
Diff: 1
Objective: 1
AACSB: Analytical thinking
2) Comparing budgeted costs to actual costs helps managers to improve ________. A) coordination B) control
C) implementation D) planning Answer: B
Diff: 1
Objective: 1
AACSB: Analytical thinking
3) Budgeted costs are ________. A) the costs incurred this year B) the costs incurred last year C) planned or forecasted costs D) competitor's costs Answer: C
Diff: 1
Objective: 1
AACSB: Analytical thinking
4) Cost assignment ________.
A) includes future and arbitrary costs
B) encompasses allocating indirect costs to a cost object C) is the same as cost accumulation
D) is the difference between budgeted and actual costs Answer: B
Diff: 1
Objective: 1
AACSB: Analytical thinking
1
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5) A cost system determines the cost of a cost object by ________. A) accumulating and then assigning costs B) accumulating costs
C) assigning and then accumulating costs D) assigning costs Answer: A
Diff: 1
Objective: 1
AACSB: Analytical thinking
6) A cost object is anything for which a cost measurement is desired. Answer: TRUE
Diff: 1
Objective: 1
AACSB: Analytical thinking
7) Costs are accounted for in two basic stages: assignment followed by accumulation. Answer: FALSE
Explanation: Costs are accounted for in two basic stages: accumulation followed by assignment.
Diff: 1
Objective: 1
AACSB: Analytical thinking
8) An actual cost is the cost incurred–a historical or past cost. Answer: TRUE
Diff: 1
Objective: 1
AACSB: Analytical thinking
9) Accountants define a cost as a resource to be sacrificed to achieve a specific objective. Answer: TRUE
Diff: 1
Objective: 1
AACSB: Analytical thinking
10) A cost is a resource sacrificed or forgone to achieve a specific objective. Answer: TRUE
Explanation: A cost object could be anything management wishes to determine the cost of, for example, a department.
Diff: 1
Objective: 1
AACSB: Analytical thinking
11) Managers use cost accumulation data to make decisions and implement them. Answer: TRUE
Diff: 1
Objective: 1
AACSB: Analytical thinking
2
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12) Lucas Manufacturing has three cost objects that it uses to accumulate costs for its manufacturing plants. They are: Cost object #1: The physical buildings and equipment Cost object #2: The use of buildings and equipment Cost object #3: The availability and use of manufacturing labor
The following manufacturing overhead cost categories are found in the accounting records: a. Depreciation on buildings and equipment b. Lubricants for machines c. Property insurance d. Supervisors salaries e. Fringe benefits f. Property taxes g. Utilities
Required:
Assign each of the above costs to the most appropriate cost object. Answer:
Cost object # 1 includes categories a, c, and f.
Cost object # 2 includes categories b and g.
Cost object # 3 includes categories d and e.
Diff: 2
Objective: 1
AACSB: Application of knowledge
3
Copyright ? 2015 Pearson Education, Inc.
Objective 2.2
1) Which of the following factors affect the direct/indirect classification of a cost? A) the level of budgeted profit for the next year
B) the estimation of time required to complete the order
C) the ability to execute an order in the most cost-efficient manner D) the design of the operation Answer: D
Diff: 1
Objective: 2
AACSB: Analytical thinking
2) The general term used to identify both the tracing and the allocation of accumulated costs to a cost object is ________. A) cost accumulation B) cost assignment C) cost tracing
D) conversion costing Answer: B
Diff: 1
Objective: 1
AACSB: Analytical thinking
3) Cost accumulation is ________.
A) the collection of cost data in some organized way by means of an accounting system B) anything for which a cost measurement is desired C) anything for which a profit measurement is desired
D) the collection of profit data in some organized way by means of an accounting system Answer: A
Diff: 2
Objective: 1
AACSB: Analytical thinking
4) Which of the following statements about the direct/indirect cost classification is true? A) Indirect costs are always traced. B) Indirect costs are always allocated.
C) The design of sales target affects the direct/indirect classification.
D) The direct/indirect classification depends on the cost control measures. Answer: B
Diff: 1
Objective: 2
AACSB: Analytical thinking
4
Copyright ? 2015 Pearson Education, Inc.