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WorksheetsMCQ: Kế quản trị
Total questions: 31
Worksheet time: 16mins
Which of the following employees would not be classified as indirect labor?
A. Plant custodian.
B. Salesperson.
C. An employee that packs products for shipment.
D. Plant security guard.
E. A line employee that produces parts for chairs using a saw and template
Which of the following costs is not a component of manufacturing overhead?
A. Indirect materials.
B. Factory utilities.
C. Factory equipment.
D. Indirect labor.
E. Property taxes on the manufacturing plant.
Remy Corporation estimated manufacturing overhead costs for the year to be $550,000.Remy also estimated 7000 machine hours and 2000 direct labor hours for the year. It bases the predetermined overhead allocation rate on machine hours. On January 31, Job 25 was completed. It required 5 machine hours and 4 direct labor hours. What is the
amount of manufacturing overhead allocated to the completed job ? (Round intermediate calculations to the nearest cent and your final answer to the nearest dollar.)
A. $7
B. $707
C. $393
D. $1375
GA Co. produces washers and dryers in an assembly-line process. Labor costs incurred
during a recent period were: corporate executives, $500,000; assembly-line workers,
$180,000; security guards, $45,000; and plant supervisor, $110,000. The total of GA’s
direct labor cost was:
$110,000
$180,000
$155,000
$235,000
$735,000
The predetermined overhead allocation rate is calculated by dividing ________.
A. the total estimated overhead costs by total number of days in a year
B. the estimated amount of cost driver by actual total overhead costs
C. the actual overhead costs by actual amount of the cost driver or allocation base
D. the estimated overhead costs by total estimated quantity of the overhead allocation
base
Ron, Inc. estimates direct labor costs and manufacturing overhead costs for the coming 2 year to be $760,000 and $520,000, respectively. Ron allocates overhead costs based on machine hours. The estimated total labor hours and machine hours for the coming year are 16,000 hours and 8000 hours, respectively. What is the predetermined overhead
allocation rate? (Round your answer to the nearest cent.)
520,000/8,000=
A. $95.00 per machine hour
B. $32.50 per labor hour
C. $1.46 per labor hour
D. $65.00 per machine hour
In a production cost report, ________ includes the number of units completed and transferred out of a process and the number of units remaining in ending WIP. The
weighted-average method is used.
A. total units estimated for
B. total units budgeted for
C. total units accounted for
D. total units to account for
The predetermined overhead allocation rate is the rate used to ________.
A) assign direct material costs to jobs
B) allocate actual manufacturing overhead costs incurred during a period
C) allocate estimated manufacturing overhead costs to jobs
D) Trace manufacturing and nonmanufacturing costs to jobs
Conversion costs are:
A. direct material, direct labor, and manufacturing overhead.
B. direct material and direct labor.
C. direct labor and manufacturing overhead.
D. prime costs.
What would the cost of fire insurance for a manufacturing plant generally be categorized as?
A. Prime cost.
B. Direct material cost.
E. Product cost.(MC as it is included in MOH)
D. Direct labor cost.
How should a company that manufactures automobiles classify its partially completed vehicles?
A. Supplies.
E. Work-in-process inventory.
D. Cost of goods manufactured.
C. Finished goods inventory.
Which of the following best describes the term equivalent units?
A) partially completed units expressed in terms of fully completed units
B) partially completed units of output that will be sold as is
C) substitute of units that are partially completed
D) different types of units that have same selling price
The Assembly Department of ByteSize, Inc., manufacturer of computers, incurred
$280,000 in direct material costs and $70,000 in conversion costs. The equivalent units
of production for direct materials and conversion costs are 1500 and 600, respectively.
The weighted-average method is used. The cost per equivalent unit of production (EUP)
for conversion costs is ________. (Round your answer to the nearest cent.)
A. $116.67 per EUP.
B. $46.67 per EUP
C. $466.67 per EUP
D. $186.67 per EUP
The journal entry to issue indirect materials to production should include a debit to
the ________.
A) Finished Goods Inventory account
B) Raw Materials Inventory account
C) Manufacturing Overhead account
D) Work-in-Process Inventory account
Har Industries began July with a finished-goods inventory of $48,000. The finishedgoods inventory at the end of July was $56,000 and the cost of goods sold during the
month was $125,000. The cost of goods manufactured during July was: =(56,000+125,000-48,000)
A. $104,000.
B. $125,000.
C. $117,000.
D. $133,000.
E. None of the answers is correct.
Which of the following best describes a job cost record?
A) a form used to track the transfer of raw materials to the production floor
B) a record that shows the raw materials balance as well as raw materials received and
issued
C) a document that shows direct materials, direct labor and manufacturing overhead
costs for an individual job
D) a record of employee productivity and downtime for a particular job
Prime costs are comprised of:
A. direct materials and manufacturing overhead.
B. direct labor and manufacturing overhead.
C. direct materials, direct labor, and manufacturing overhead.
D. direct materials and direct labor.
E. direct materials and indirect materials
Plating Company reported a cost of goods manufactured of $520,000, with the firm's
year-end balance sheet revealing work in process and finished goods of $70,000 and
$134,000, respectively. If supplemental information disclosed raw materials used in
production of $80,000, direct labor of $140,000, and manufacturing overhead of
$240,000, the company's beginning work in process must have been:
?+(80,000+140,000+240,000)=520,000+70,000
=>?=
A. $130,000.
B. $10,000.
C. $66,000.
D. $390,000.
E. None of the answers is correct.
Which of the following correctly describes the term cost driver?
A) the inflation rate that causes costs to rise
B) the average inventory costs incurred at any point of time
C) the primary factor that causes a cost to be incurred
D) the total material, labor, and overhead costs of a completed job
Consider the following comments about absorption- and variable-costing income
statements:
I. variable-costing income statement discloses a firm's contribution margin.
II. Cost of goods sold on an absorption-costing income statement includes fixed costs.
III. The amount of variable selling and administrative cost is the same on absorptionand variable-costing income statements.
Which of the above statements is (are) true?
A. I only.
B. II only.
C. I and II.
D. II and III.
E. I, II, and III.
Which of the following statements pertain to variable costing?
A. This method must be used for external financial reporting.
B. Fixed manufacturing overhead is attached to each unit produced.
C. The income statement not does disclose a company's contribution margin.
D. Variable manufacturing overhead becomes part of a unit's cost.
E. None of the answers is correct.
Which of the following product-costing systems is/are required for tax purposes?
A. Absorption costing.
B. Variable costing.
C. Throughput costing.
D. Either absorption or variable costing.
E. Either absorption, variable costing, or throughput costing.
The following data relate to Aux Corporation for the year just ended: Sales revenue $750,000
Cost of goods sold: Variable portion
370,000
Fixed portion
110,000
Variable selling and administrative costs
50,000
Fixed selling and administrative cost 75,000
75,000
Which of the following statements
A. Aux's variable-costing income statement would show a gross margin of $270,000.
B. Aux’s variable costing income statement would show a contribution margin of
$330,000.
C. Aux’s absorption-costing income statement would show a contribution margin of
$330,000.
D. Aux’s absorption costing income statement would show a gross margin of $330,000.
E. Aux’s absorption-costing income statement would show a gross margin of $145,000
Chu Enterprise’s inventory increased during the year. On the basis of this information, income reported under absorption costing:
A. will be the same as that reported under variable costing.
B. will be higher than that reported under variable costing.
C. will be lower than that reported under variable costing.
D. will differ from that reported under variable costing, the direction of which cannot
be determined from the information given.
E. will be less than that reported in the previous period
Which of the following conditions would cause absorption-costing income to be
higher than variable-costing income?
A. Units sold exceeded units produced.
B. Units sold equaled units produced.
C. Units sold were less than units produced.
D. Sales prices decreased.
E. Selling expenses increased.
Q7. Consider the following statements about absorption- and variable-costing income:
I. Yearly income reported under absorption costing will differ from income reported
under variable costing if production and sales volumes differ.
II. In the long-run, total income reported under absorption costing will often be close
to that reported under variable costing.
III. Differences in income under absorption and variable costing can often be
reconciled by multiplying the change in inventory (in units) by the variable
manufacturing overhead cost per unit.
Which of the above statements is (are) true?
A. I only.
B. II only.
C. III only.
D. I and II.
E. II and III.
Ror Technologies reported $106,000 of income for the year by using variable costing.
The company had no beginning inventory, planned and actual production of 50,000
units, and sales of 47,000 units. Standard variable manufacturing costs were $15 per
unit, and total budgeted fixed manufacturing overhead was $150,000. If there were no
variances, income under absorption costing would be:
A. $52,000.
B. $97,000.
C. $106,000.
D. $115,000.
E. $160,000
At a volume of 20,000 units, Almount Industries reported sales revenues of
$1,000,000, variable costs of $300,000, and fixed costs of $260,000. The company's
contribution margin per unit is:
A. $22.
B. $28.
C. $35.
D. $37.
E. None of the answers is correct.
Under variable costing, fixed manufacturing overhead is:
A. expensed immediately when incurred.
B. never expensed.
C. applied directly to Finished-Goods Inventory.
D. applied directly to Work-in-Process Inventory.
E. treated in the same manner as variable manufacturing overhead4
All of the following are inventoried under absorption costing except:
A. direct labor.
B. raw materials used in production.
C. utilities cost consumed in manufacturing.
D. sales commissions.
E. machine lubricant used in production.
The underlying difference between absorption costing and variable costing lies in the
treatment of:
A. direct labor.
B. variable manufacturing overhead.
C. fixed manufacturing overhead.
D. variable selling and administrative expenses.
E. fixed selling and administrative expenses
