29 Jun Question u unit 2 : Unit 2: Introduction to Job Costing, Activity Based Costing, Process Costing and Customer Profitability Analysis. – Quiz
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unit 2 : Unit 2: Introduction to Job Costing, Activity Based Costing, Process Costing and Customer Profitability Analysis. – Quiz
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unit 2 : Unit 2: Introduction to Job Costing, Activity Based Costing, Process Costing and Customer Profitability Analysis. – Quiz
1.Volume-based cost accounting systems often do a poor job of product costing because they: (Points : 2)
Use only volume-based cost drivers.
Fail to recognize the impact of overhead in product cost.
Often do not reflect changes in major cost categories caused by plant automation.
Too often use an allocation base that does not have a cause-effect relationship to resource usage.
2.ABC Company listed the following data for 2010:
Budgeted Factory Overhead
$1,044,000
Budgeted Direct Labor Hours
72,000
Budgeted Machine Hours
24,000
Actual Factory Overhead
1,037,400
Actual Direct Labor Hours
72,000
Actual Machine Hours
23,000
Round calculations to two significant digits.
Assuming ABC Company applied overhead based on direct labor hours, the company’s predetermined overhead rate for 2010 is: (Points : 2)
$43.50 per direct labor hour.
$14.38 per direct labor hour.
$44.24 per direct labor hour.
$14.50 per direct labor hour.
$14.41 per direct labor hour.
3.The sum of units transferred out and ending inventory units, assuming no spoilage, determines the: (Points : 2)
Units completed during the period.
Units spoiled.
Units transferred in during the period.
Units accounted for.
4.A time ticket: (Points : 2)
Shows the time an employee worked on each job, pay rate, and total cost chargeable to each job.
Shows the time that a department’s employees worked on all jobs, the pay rate of each employee, and the total cost chargeable to each job.
Shows the time an employee worked on each job and the total cost chargeable to each job only.
Shows the time an employee worked on each job only.
5.Which one of the following is the amount of factory overhead applied that exceeds the actual factory overhead cost? (Points : 2)
Factory overhead applied.
Actual factory overhead.
Overapplied overhead.
Allocated factory overhead.
Underapplied overhead.
6.Which method is a method used to prepare the departmental production cost report when using a process cost system? (Points : 2)
LIFO method.
FIFO method.
Weighted production method.
Production average method.
Throughput average method
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