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Deck 5: Activity-Based Costing and Activity-Based Management
ملء الشاشة (f)
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Answer the following questions using the information below:
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:
How much of the total costs will be assigned to Department B?
A)$79,000
B)$40,000
C)$112,000
D)$440,000
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:How much of the total costs will be assigned to Department B?
A)$79,000
B)$40,000
C)$112,000
D)$440,000
سؤال
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Answer the following questions using the information below:
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:
How much of the total costs will be assigned to Department A?
A)$79,000
B)$40,000
C)$112,000
D)$440,000
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:How much of the total costs will be assigned to Department A?
A)$79,000
B)$40,000
C)$112,000
D)$440,000
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Answer the following questions using the information below:
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:
How much of account verification costs will be assigned to Department A?
A)$15,000
B)$18,750
C)$75,000
D)$5,000
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:How much of account verification costs will be assigned to Department A?
A)$15,000
B)$18,750
C)$75,000
D)$5,000
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Answer the following questions using the information below:
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:
How much of correspondence costs will be assigned to Department B?
A)$800
B)$6,250
C)$25,000
D)$10,000
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:How much of correspondence costs will be assigned to Department B?
A)$800
B)$6,250
C)$25,000
D)$10,000
سؤال
Answer the following questions using the information below:
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:
How much of the account billing cost will be assigned to Department B?
A)$14,000
B)$140,000
C)$7,000
D)None of these answers are correct.
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:How much of the account billing cost will be assigned to Department B?
A)$14,000
B)$140,000
C)$7,000
D)None of these answers are correct.
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Answer the following questions using the information below:
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:
Dalrymple Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $80,000. The budgeted number of nozzles to be inserted is 40,000. What is the budgeted indirect cost allocation rate for this activity?
A)$0.50
B)$1.00
C)$1.50
D)$2.00
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:Dalrymple Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $80,000. The budgeted number of nozzles to be inserted is 40,000. What is the budgeted indirect cost allocation rate for this activity?
A)$0.50
B)$1.00
C)$1.50
D)$2.00
سؤال
Answer the following questions using the information below:
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:
How much of the account inquiry cost will be assigned to Department A?
A)$40,000
B)$200,000
C)$80,000
D)None of these answers are correct.
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:How much of the account inquiry cost will be assigned to Department A?
A)$40,000
B)$200,000
C)$80,000
D)None of these answers are correct.
سؤال
Answer the following questions using the information below:
Gregory Enterprises has identified three cost pools to allocate overhead costs. The following estimates are provided for the coming year:
The accounting records show the Mossman Job consumed the following resources:
If direct labor-hours are considered the only overhead cost driver, what is the single cost driver rate for Gregory Enterprises?
A)$0.50 per direct labor-hour
B)$0.80 per direct labor-hour
C)$0.40 per direct labor-hour
D)$1.20 per direct labor-hour
Gregory Enterprises has identified three cost pools to allocate overhead costs. The following estimates are provided for the coming year:
The accounting records show the Mossman Job consumed the following resources:If direct labor-hours are considered the only overhead cost driver, what is the single cost driver rate for Gregory Enterprises?
A)$0.50 per direct labor-hour
B)$0.80 per direct labor-hour
C)$0.40 per direct labor-hour
D)$1.20 per direct labor-hour
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Answer the following questions using the information below:
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:
How much of invoice cost will be assigned to the Bush Department?
A)$6,400
B)$8,000
C)$25,600
D)$40,000
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:How much of invoice cost will be assigned to the Bush Department?
A)$6,400
B)$8,000
C)$25,600
D)$40,000
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Answer the following questions using the information below:
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:
How much of the total cost will be assigned to the Plowing Department?
A)$396,000
B)$202.200
C)$134,600
D)$172,000
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:How much of the total cost will be assigned to the Plowing Department?
A)$396,000
B)$202.200
C)$134,600
D)$172,000
سؤال
Answer the following questions using the information below:
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:
How much of the gas cost will be assigned to the Lawn Department?
A)$4,800
B)$20,000
C)$9,000
D)$22,200
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:How much of the gas cost will be assigned to the Lawn Department?
A)$4,800
B)$20,000
C)$9,000
D)$22,200
سؤال
Answer the following questions using the information below:
Whitman Printing has contracts to complete weekly supplements required by forty-six customers. For the year 20X5, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Whitman Printing decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:
Using the cost driver rate determined in the previous question, what is the manufacturing overhead cost estimate for Hospital Systems during 2010?
A)Manufacturing overhead costs applied to Hospital Systems total $4,200.
B)Manufacturing overhead costs applied to Hospital Systems total $3,800.
C)Manufacturing overhead costs applied to Hospital Systems total $5,320.
D)Manufacturing overhead costs applied to Hospital Systems total $7,200.
Whitman Printing has contracts to complete weekly supplements required by forty-six customers. For the year 20X5, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Whitman Printing decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:Using the cost driver rate determined in the previous question, what is the manufacturing overhead cost estimate for Hospital Systems during 2010?
A)Manufacturing overhead costs applied to Hospital Systems total $4,200.
B)Manufacturing overhead costs applied to Hospital Systems total $3,800.
C)Manufacturing overhead costs applied to Hospital Systems total $5,320.
D)Manufacturing overhead costs applied to Hospital Systems total $7,200.
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Answer the following questions using the information below:
Velshi Printers has contracts to complete weekly supplements required by forty-six customers. For the year 2010, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Velshi Printers has decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:
Using pages printed as the only overhead cost driver, what is the manufacturing overhead cost estimate for Money Managers during 2010?
A)$5,000
B)$3,500
C)$4,200
D)$6,000
Velshi Printers has contracts to complete weekly supplements required by forty-six customers. For the year 2010, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Velshi Printers has decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:Using pages printed as the only overhead cost driver, what is the manufacturing overhead cost estimate for Money Managers during 2010?
A)$5,000
B)$3,500
C)$4,200
D)$6,000
سؤال
Answer the following questions using the information below:
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:
How much of the total costs will be assigned to the Lawn Department?
A)$100,000
B)$49,200
C)$200,000
D)$134,600
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:How much of the total costs will be assigned to the Lawn Department?
A)$100,000
B)$49,200
C)$200,000
D)$134,600
سؤال
Answer the following questions using the information below:
Whitman Printing has contracts to complete weekly supplements required by forty-six customers. For the year 20X5, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Whitman Printing decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:
If manufacturing overhead costs are considered one large cost pool and are assigned based on 12 million pages of production capacity, what is the cost driver rate?
A)$0.50 per page
B)$0.10 per page
C)$0.05 per page
D)$0.07 per page
Whitman Printing has contracts to complete weekly supplements required by forty-six customers. For the year 20X5, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Whitman Printing decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:If manufacturing overhead costs are considered one large cost pool and are assigned based on 12 million pages of production capacity, what is the cost driver rate?
A)$0.50 per page
B)$0.10 per page
C)$0.05 per page
D)$0.07 per page
سؤال
Answer the following questions using the information below:
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:
How much of the gas cost will be assigned to the Plowing Department?
A)$50,000
B)$22,200
C)$30,000
D)None of these answers are correct.
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:How much of the gas cost will be assigned to the Plowing Department?
A)$50,000
B)$22,200
C)$30,000
D)None of these answers are correct.
سؤال
Answer the following questions using the information below:
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:
How much of the labor cost will be assigned to the Lawn Department?
A)$100,000
B)$25,600
C)$40,000
D)None of these answers are correct.
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:How much of the labor cost will be assigned to the Lawn Department?
A)$100,000
B)$25,600
C)$40,000
D)None of these answers are correct.
سؤال
Answer the following questions using the information below:
Gregory Enterprises has identified three cost pools to allocate overhead costs. The following estimates are provided for the coming year:
The accounting records show the Mossman Job consumed the following resources:
Using direct labor-hours as the only overhead cost driver, what is the amount of overhead costs allocated to the Mossman Job?
A)$160
B)$120
C)$240
D)$125
Gregory Enterprises has identified three cost pools to allocate overhead costs. The following estimates are provided for the coming year:
The accounting records show the Mossman Job consumed the following resources:Using direct labor-hours as the only overhead cost driver, what is the amount of overhead costs allocated to the Mossman Job?
A)$160
B)$120
C)$240
D)$125
سؤال
Answer the following questions using the information below:
Velshi Printers has contracts to complete weekly supplements required by forty-six customers. For the year 2010, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Velshi Printers has decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:
What is the cost driver rate if manufacturing overhead costs are considered one large cost pool and are assigned based on 12 million pages of production capacity?
A)$0.10 per page
B)$0.07 per page
C)$0.70 per page
D)$0.05 per page
Velshi Printers has contracts to complete weekly supplements required by forty-six customers. For the year 2010, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Velshi Printers has decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:What is the cost driver rate if manufacturing overhead costs are considered one large cost pool and are assigned based on 12 million pages of production capacity?
A)$0.10 per page
B)$0.07 per page
C)$0.70 per page
D)$0.05 per page
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Put the following ABC implementation steps in order: 
A)DACB
B)DBCA
C)BADC
D)CDAB
A)DACB
B)DBCA
C)BADC
D)CDAB
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ملء الشاشة (f)
Deck 5: Activity-Based Costing and Activity-Based Management
1
As product diversity and indirect costs increase, it is usually best to switch away from an activity based cost system to a broad averaging system.
False
2
A company produces three products; if one product is overcosted then:
A)one product is undercosted
B)one or two products are undercosted
C)two products are undercosted
D)no products are undercosted
A)one product is undercosted
B)one or two products are undercosted
C)two products are undercosted
D)no products are undercosted
B
3
If companies increase market share in a given product line because their reported costs are less than their actual costs, they will become more profitable in the long run.
False
4
Misleading cost numbers are most likely the result of misallocating:
A)direct material costs
B)direct manufacturing labor costs
C)indirect costs
D)All of these answers are correct.
A)direct material costs
B)direct manufacturing labor costs
C)indirect costs
D)All of these answers are correct.
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5
A top-selling product might actually result in losses for the company.
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6
Greater indirect costs are associated with:
A)specialized engineering drawings
B)quality specifications and testing
C)inventoried materials and material control systems
D)All of these answers are correct.
A)specialized engineering drawings
B)quality specifications and testing
C)inventoried materials and material control systems
D)All of these answers are correct.
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7
An accelerated need for refined cost systems is due to:
A)global monopolies
B)rising prices
C)intense competition
D)a shift toward increased direct costs
A)global monopolies
B)rising prices
C)intense competition
D)a shift toward increased direct costs
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8
Direct costs plus indirect costs equal total costs.
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9
If a company overcosts one of its products, then it will undercost at least one of its other products.
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10
In a homogeneous cost pool, all costs have a similar cause-and-effect relationship with the cost-allocation base.
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11
When refining a costing system, a company should classify as many costs as possible as direct costs.
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12
Uniformly assigning the costs of resources to cost objects when those resources are actually used in a nonuniform way is called:
A)overcosting
B)undercosting
C)peanut-butter costing
D)department costing
A)overcosting
B)undercosting
C)peanut-butter costing
D)department costing
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13
The use of a single indirect-cost rate is more likely to:
A)undercost high-volume simple products
B)undercost low-volume complex products
C)undercost lower-priced products
D)Both B and C are correct.
A)undercost high-volume simple products
B)undercost low-volume complex products
C)undercost lower-priced products
D)Both B and C are correct.
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14
Companies that overcost products will most likely lose market share.
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15
Refining a cost system includes:
A)classifying as many costs as indirect costs as is feasible
B)creating as many cost pools as possible
C)identifying the activities involved in a process
D)seeking a lesser level of detail
A)classifying as many costs as indirect costs as is feasible
B)creating as many cost pools as possible
C)identifying the activities involved in a process
D)seeking a lesser level of detail
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16
Overcosting a particular product may result in:
A)loss of market share
B)pricing the product too low
C)operating efficiencies
D)understating total product costs
A)loss of market share
B)pricing the product too low
C)operating efficiencies
D)understating total product costs
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17
Explain how a top-selling product may actually result in losses for the company.
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18
Undercosting of a product is most likely to result from:
A)misallocating direct labor costs
B)underpricing the product
C)overcosting another product
D)overstating total product costs
A)misallocating direct labor costs
B)underpricing the product
C)overcosting another product
D)overstating total product costs
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19
Design of an ABC system requires:
A)that the job bid process be redesigned
B)that a cause-and-effect relationship exists between resource costs and individual activities
C)an adjustment to product mix
D)Both B and C are correct.
A)that the job bid process be redesigned
B)that a cause-and-effect relationship exists between resource costs and individual activities
C)an adjustment to product mix
D)Both B and C are correct.
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20
If products are different, then for costing purposes:
A)an ABC costing system will yield more accurate cost numbers
B)a simple costing system should be used
C)a single indirect-cost rate should be used
D)none of the above
A)an ABC costing system will yield more accurate cost numbers
B)a simple costing system should be used
C)a single indirect-cost rate should be used
D)none of the above
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21
A cost-allocation base is a necessary element when using a strategy that will refine a costing system.
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22
Answer the following questions using the information below:
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:
How much of the total costs will be assigned to Department B?
A)$79,000
B)$40,000
C)$112,000
D)$440,000
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:How much of the total costs will be assigned to Department B?
A)$79,000
B)$40,000
C)$112,000
D)$440,000
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23
Activity-based costing is most likely to yield benefits for companies with all of the following characteristics EXCEPT:
A)numerous products that consume different amounts of resources
B)operations that remain fairly consistent
C)a highly competitive environment, where cost control is critical
D)accessible accounting and information systems expertise to maintain the system
A)numerous products that consume different amounts of resources
B)operations that remain fairly consistent
C)a highly competitive environment, where cost control is critical
D)accessible accounting and information systems expertise to maintain the system
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24
Answer the following questions using the information below:
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:
How much of the total costs will be assigned to Department A?
A)$79,000
B)$40,000
C)$112,000
D)$440,000
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:How much of the total costs will be assigned to Department A?
A)$79,000
B)$40,000
C)$112,000
D)$440,000
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25
Product lines that produce different variations (models, styles, or colors)often require specialized manufacturing activities that translate into:
A)fewer indirect costs for each product line
B)decisions to drop product variations
C)a greater number of direct manufacturing labor cost allocation rates
D)greater overhead costs for each product line
A)fewer indirect costs for each product line
B)decisions to drop product variations
C)a greater number of direct manufacturing labor cost allocation rates
D)greater overhead costs for each product line
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26
Indirect labor and distribution costs would most likely be in the same activity-cost pool.
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27
ABC systems:
A)highlight the different levels of activities
B)limit cost drivers to units of output
C)allocate costs based on the overall level of activity
D)generally undercost complex products
A)highlight the different levels of activities
B)limit cost drivers to units of output
C)allocate costs based on the overall level of activity
D)generally undercost complex products
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28
A single indirect-cost rate may distort product costs because:
A)there is an assumption that all support activities affect all products
B)it recognizes specific activities that are required to produce a product
C)costs are not consistently recorded
D)it fails to measure the correct amount of total costs
A)there is an assumption that all support activities affect all products
B)it recognizes specific activities that are required to produce a product
C)costs are not consistently recorded
D)it fails to measure the correct amount of total costs
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29
Answer the following questions using the information below:
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:
How much of account verification costs will be assigned to Department A?
A)$15,000
B)$18,750
C)$75,000
D)$5,000
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:How much of account verification costs will be assigned to Department A?
A)$15,000
B)$18,750
C)$75,000
D)$5,000
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30
What are the factors that are causing many companies to refine their costing systems to obtain more accurate measures of the costs of their products?
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31
Traditional cost systems distort product costs because:
A)they do not know how to identify the appropriate units
B)competitive pricing is ignored
C)they emphasize financial accounting requirements
D)they apply average support costs to each unit of product
A)they do not know how to identify the appropriate units
B)competitive pricing is ignored
C)they emphasize financial accounting requirements
D)they apply average support costs to each unit of product
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32
Answer the following questions using the information below:
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:
How much of correspondence costs will be assigned to Department B?
A)$800
B)$6,250
C)$25,000
D)$10,000
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:How much of correspondence costs will be assigned to Department B?
A)$800
B)$6,250
C)$25,000
D)$10,000
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33
Answer the following questions using the information below:
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:
How much of the account billing cost will be assigned to Department B?
A)$14,000
B)$140,000
C)$7,000
D)None of these answers are correct.
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:How much of the account billing cost will be assigned to Department B?
A)$14,000
B)$140,000
C)$7,000
D)None of these answers are correct.
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34
Which of the following statements about activity-based costing is NOT true?
A)Activity-based costing is useful for allocating marketing and distribution costs.
B)Activity-based costing is more likely to result in major differences from traditional costing systems if the firm manufactures only one product rather than multiple products.
C)Activity-based costing seeks to distinguish batch-level, product-sustaining, and facility-sustaining costs, especially when they are not proportionate to one another.
D)Activity-based costing differs from traditional costing systems in that products are not cross-subsidized.
A)Activity-based costing is useful for allocating marketing and distribution costs.
B)Activity-based costing is more likely to result in major differences from traditional costing systems if the firm manufactures only one product rather than multiple products.
C)Activity-based costing seeks to distinguish batch-level, product-sustaining, and facility-sustaining costs, especially when they are not proportionate to one another.
D)Activity-based costing differs from traditional costing systems in that products are not cross-subsidized.
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35
Logical cost allocation bases include:
A)cubic feet of packages moved to measure distribution activity
B)number of setups used to measure setup activity
C)number of design hours to measure designing activity
D)All of these answers are correct.
A)cubic feet of packages moved to measure distribution activity
B)number of setups used to measure setup activity
C)number of design hours to measure designing activity
D)All of these answers are correct.
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36
Activity-based costing (ABC)can eliminate cost distortions because ABC:
A)develops cost drivers that have a cause-and-effect relationship with the activities performed
B)establishes multiple cost pools
C)eliminates product variations
D)recognizes interactions between different departments in assigning support costs
A)develops cost drivers that have a cause-and-effect relationship with the activities performed
B)establishes multiple cost pools
C)eliminates product variations
D)recognizes interactions between different departments in assigning support costs
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37
ABC systems create:
A)one large cost pool
B)homogenous activity-related cost pools
C)activity-cost pools with a broad focus
D)activity-cost pools containing many direct costs
A)one large cost pool
B)homogenous activity-related cost pools
C)activity-cost pools with a broad focus
D)activity-cost pools containing many direct costs
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38
Direct tracing of costs improves cost accuracy.
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39
Answer the following questions using the information below:
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:
Dalrymple Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $80,000. The budgeted number of nozzles to be inserted is 40,000. What is the budgeted indirect cost allocation rate for this activity?
A)$0.50
B)$1.00
C)$1.50
D)$2.00
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:Dalrymple Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $80,000. The budgeted number of nozzles to be inserted is 40,000. What is the budgeted indirect cost allocation rate for this activity?
A)$0.50
B)$1.00
C)$1.50
D)$2.00
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40
Answer the following questions using the information below:
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:
How much of the account inquiry cost will be assigned to Department A?
A)$40,000
B)$200,000
C)$80,000
D)None of these answers are correct.
Mertens Company provides the following ABC costing information:
The above activities are used by Departments A and B as follows:How much of the account inquiry cost will be assigned to Department A?
A)$40,000
B)$200,000
C)$80,000
D)None of these answers are correct.
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41
Answer the following questions using the information below:
Gregory Enterprises has identified three cost pools to allocate overhead costs. The following estimates are provided for the coming year:
The accounting records show the Mossman Job consumed the following resources:
If direct labor-hours are considered the only overhead cost driver, what is the single cost driver rate for Gregory Enterprises?
A)$0.50 per direct labor-hour
B)$0.80 per direct labor-hour
C)$0.40 per direct labor-hour
D)$1.20 per direct labor-hour
Gregory Enterprises has identified three cost pools to allocate overhead costs. The following estimates are provided for the coming year:
The accounting records show the Mossman Job consumed the following resources:If direct labor-hours are considered the only overhead cost driver, what is the single cost driver rate for Gregory Enterprises?
A)$0.50 per direct labor-hour
B)$0.80 per direct labor-hour
C)$0.40 per direct labor-hour
D)$1.20 per direct labor-hour
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42
Answer the following questions using the information below:
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:
How much of invoice cost will be assigned to the Bush Department?
A)$6,400
B)$8,000
C)$25,600
D)$40,000
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:How much of invoice cost will be assigned to the Bush Department?
A)$6,400
B)$8,000
C)$25,600
D)$40,000
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43
An activity-based costing system is necessary for costing services that are similar.
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44
Each of the following statements is true EXCEPT:
A)traditional product costing systems seek to assign all manufacturing costs to products
B)ABC product costing systems seek to assign all manufacturing costs to products
C)traditional product costing systems are more refined than an ABC system
D)cost distortions occur when a mismatch (incorrect association)occurs between the way indirect costs are incurred and the basis for their assignment to individual products
A)traditional product costing systems seek to assign all manufacturing costs to products
B)ABC product costing systems seek to assign all manufacturing costs to products
C)traditional product costing systems are more refined than an ABC system
D)cost distortions occur when a mismatch (incorrect association)occurs between the way indirect costs are incurred and the basis for their assignment to individual products
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45
The most likely example of a batch-level cost is:
A)utility costs
B)machine repairs
C)product-designing costs
D)setup costs
A)utility costs
B)machine repairs
C)product-designing costs
D)setup costs
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46
The most likely example of an output unit-level cost is:
A)general administrative costs
B)paying suppliers for orders received
C)engineering costs
D)machine depreciation
A)general administrative costs
B)paying suppliers for orders received
C)engineering costs
D)machine depreciation
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47
Answer the following questions using the information below:
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:
How much of the total cost will be assigned to the Plowing Department?
A)$396,000
B)$202.200
C)$134,600
D)$172,000
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:How much of the total cost will be assigned to the Plowing Department?
A)$396,000
B)$202.200
C)$134,600
D)$172,000
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48
Answer the following questions using the information below:
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:
How much of the gas cost will be assigned to the Lawn Department?
A)$4,800
B)$20,000
C)$9,000
D)$22,200
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:How much of the gas cost will be assigned to the Lawn Department?
A)$4,800
B)$20,000
C)$9,000
D)$22,200
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49
Answer the following questions using the information below:
Whitman Printing has contracts to complete weekly supplements required by forty-six customers. For the year 20X5, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Whitman Printing decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:
Using the cost driver rate determined in the previous question, what is the manufacturing overhead cost estimate for Hospital Systems during 2010?
A)Manufacturing overhead costs applied to Hospital Systems total $4,200.
B)Manufacturing overhead costs applied to Hospital Systems total $3,800.
C)Manufacturing overhead costs applied to Hospital Systems total $5,320.
D)Manufacturing overhead costs applied to Hospital Systems total $7,200.
Whitman Printing has contracts to complete weekly supplements required by forty-six customers. For the year 20X5, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Whitman Printing decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:Using the cost driver rate determined in the previous question, what is the manufacturing overhead cost estimate for Hospital Systems during 2010?
A)Manufacturing overhead costs applied to Hospital Systems total $4,200.
B)Manufacturing overhead costs applied to Hospital Systems total $3,800.
C)Manufacturing overhead costs applied to Hospital Systems total $5,320.
D)Manufacturing overhead costs applied to Hospital Systems total $7,200.
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50
Activity-based costing helps identify various activities that explain why costs are incurred.
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51
Answer the following questions using the information below:
Velshi Printers has contracts to complete weekly supplements required by forty-six customers. For the year 2010, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Velshi Printers has decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:
Using pages printed as the only overhead cost driver, what is the manufacturing overhead cost estimate for Money Managers during 2010?
A)$5,000
B)$3,500
C)$4,200
D)$6,000
Velshi Printers has contracts to complete weekly supplements required by forty-six customers. For the year 2010, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Velshi Printers has decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:Using pages printed as the only overhead cost driver, what is the manufacturing overhead cost estimate for Money Managers during 2010?
A)$5,000
B)$3,500
C)$4,200
D)$6,000
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52
Answer the following questions using the information below:
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:
How much of the total costs will be assigned to the Lawn Department?
A)$100,000
B)$49,200
C)$200,000
D)$134,600
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:How much of the total costs will be assigned to the Lawn Department?
A)$100,000
B)$49,200
C)$200,000
D)$134,600
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53
Answer the following questions using the information below:
Whitman Printing has contracts to complete weekly supplements required by forty-six customers. For the year 20X5, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Whitman Printing decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:
If manufacturing overhead costs are considered one large cost pool and are assigned based on 12 million pages of production capacity, what is the cost driver rate?
A)$0.50 per page
B)$0.10 per page
C)$0.05 per page
D)$0.07 per page
Whitman Printing has contracts to complete weekly supplements required by forty-six customers. For the year 20X5, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Whitman Printing decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:If manufacturing overhead costs are considered one large cost pool and are assigned based on 12 million pages of production capacity, what is the cost driver rate?
A)$0.50 per page
B)$0.10 per page
C)$0.05 per page
D)$0.07 per page
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54
Answer the following questions using the information below:
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:
How much of the gas cost will be assigned to the Plowing Department?
A)$50,000
B)$22,200
C)$30,000
D)None of these answers are correct.
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:How much of the gas cost will be assigned to the Plowing Department?
A)$50,000
B)$22,200
C)$30,000
D)None of these answers are correct.
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55
Answer the following questions using the information below:
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:
How much of the labor cost will be assigned to the Lawn Department?
A)$100,000
B)$25,600
C)$40,000
D)None of these answers are correct.
Happy Valley Land and Snow Company provides the following ABC costing information:
The above activities used by their three departments are:How much of the labor cost will be assigned to the Lawn Department?
A)$100,000
B)$25,600
C)$40,000
D)None of these answers are correct.
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56
Answer the following questions using the information below:
Gregory Enterprises has identified three cost pools to allocate overhead costs. The following estimates are provided for the coming year:
The accounting records show the Mossman Job consumed the following resources:
Using direct labor-hours as the only overhead cost driver, what is the amount of overhead costs allocated to the Mossman Job?
A)$160
B)$120
C)$240
D)$125
Gregory Enterprises has identified three cost pools to allocate overhead costs. The following estimates are provided for the coming year:
The accounting records show the Mossman Job consumed the following resources:Using direct labor-hours as the only overhead cost driver, what is the amount of overhead costs allocated to the Mossman Job?
A)$160
B)$120
C)$240
D)$125
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57
Answer the following questions using the information below:
Velshi Printers has contracts to complete weekly supplements required by forty-six customers. For the year 2010, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Velshi Printers has decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:
What is the cost driver rate if manufacturing overhead costs are considered one large cost pool and are assigned based on 12 million pages of production capacity?
A)$0.10 per page
B)$0.07 per page
C)$0.70 per page
D)$0.05 per page
Velshi Printers has contracts to complete weekly supplements required by forty-six customers. For the year 2010, manufacturing overhead cost estimates total $840,000 for an annual production capacity of 12 million pages.
For 2010 Velshi Printers has decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis:
During 2010, two customers, Money Managers and Hospital Systems, are expected to use the following printing services:What is the cost driver rate if manufacturing overhead costs are considered one large cost pool and are assigned based on 12 million pages of production capacity?
A)$0.10 per page
B)$0.07 per page
C)$0.70 per page
D)$0.05 per page
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58
For activity-based cost systems, activity costs are assigned to products in the proportion of the demand they place on activity resources.
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59
Traditional systems are likely to overcost complex products with lower production volume.
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60
Explain how activity-based costing systems can provide more accurate product costs than traditional cost systems.
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61
To set realistic selling prices:
A)all costs should be allocated to products
B)costs should only be allocated when there is a strong cause-and-effect relationship
C)only unit-level costs and batch-level costs should be allocated
D)only unit-level costs should be allocated
A)all costs should be allocated to products
B)costs should only be allocated when there is a strong cause-and-effect relationship
C)only unit-level costs and batch-level costs should be allocated
D)only unit-level costs should be allocated
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62
ABC systems identify ________ costs used by products.
A)all
B)short-term fixed
C)short-term variable
D)long-term fixed
A)all
B)short-term fixed
C)short-term variable
D)long-term fixed
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63
Unit-level measures can distort product costing because the demand for overhead resources may be driven by batch-level or product-sustaining activities.
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64
Misleading cost numbers are larger when unit-level assignments and the alternative activity-cost-driver assignments are proportionately dissimilar to each other.
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65
What are the four parts of the cost hierarchy. Briefly explain each part, and contrast this cost hierarchy to the fixed-variable dichotomy?
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66
ABC assumes all costs are ________ because over the long run management can adjust the amount of resources employed.
A)fixed
B)variable
C)committed
D)nondiscretionary
A)fixed
B)variable
C)committed
D)nondiscretionary
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67
________ costs support the organization as a whole.
A)Unit-level
B)Batch-level
C)Product-sustaining
D)Facility-sustaining
A)Unit-level
B)Batch-level
C)Product-sustaining
D)Facility-sustaining
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68
Put the following ABC implementation steps in order:
A)DACB
B)DBCA
C)BADC
D)CDAB
A)DACB
B)DBCA
C)BADC
D)CDAB
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69
Explain how traditional cost systems, using a single unit-level cost rate, may distort product costs.
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70
Different products consume different proportions of manufacturing overhead costs because of differences in all of the following EXCEPT:
A)selling prices
B)customers' customization specifications
C)setup times
D)product design
A)selling prices
B)customers' customization specifications
C)setup times
D)product design
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71
Output unit-level costs CANNOT be determined unless you know how many units are in a given batch.
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72
The focus of ABC systems is on:
A)long-term decisions
B)short-term decisions
C)make-or-buy decisions
D)special-pricing decisions
A)long-term decisions
B)short-term decisions
C)make-or-buy decisions
D)special-pricing decisions
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73
When designing a costing system, it is easiest to:
A)calculate total costs first and then per-unit cost
B)calculate per-unit costs first and then total costs
C)calculate long-term costs first and then short-term costs
D)calculate short-term costs first and then long-term costs
A)calculate total costs first and then per-unit cost
B)calculate per-unit costs first and then total costs
C)calculate long-term costs first and then short-term costs
D)calculate short-term costs first and then long-term costs
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74
With traditional costing systems, products manufactured in small batches and in small annual volumes may be ________ because batch-related and product-sustaining costs are assigned using unit-related drivers.
A)overcosted
B)fairly costed
C)undercosted
D)ignored
A)overcosted
B)fairly costed
C)undercosted
D)ignored
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75
Using multiple unit-level cost drivers generally constitutes an effective activity-based cost system.
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76
Unit-level cost drivers are most appropriate as an overhead assignment base when:
A)several complex products are manufactured
B)only one product is manufactured
C)direct labor costs are low
D)factories produce a varied mix of products
A)several complex products are manufactured
B)only one product is manufactured
C)direct labor costs are low
D)factories produce a varied mix of products
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77
Answer the following questions using the information below:
Products S5 and CP8 each are assigned $100.00 in indirect costs by a traditional costing system. An activity analysis revealed that although production requirements are identical, S5 requires 45 minutes less setup time than CP8.
According to an ABC system, S5 uses a disproportionately:
A)smaller amount of unit-level costs
B)larger amount of unit-level costs
C)smaller amount of batch-level costs
D)larger amount of batch-level costs
Products S5 and CP8 each are assigned $100.00 in indirect costs by a traditional costing system. An activity analysis revealed that although production requirements are identical, S5 requires 45 minutes less setup time than CP8.
According to an ABC system, S5 uses a disproportionately:
A)smaller amount of unit-level costs
B)larger amount of unit-level costs
C)smaller amount of batch-level costs
D)larger amount of batch-level costs
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78
Design costs are an example of:
A)unit-level costs
B)batch-level costs
C)product-sustaining costs
D)facility-sustaining costs
A)unit-level costs
B)batch-level costs
C)product-sustaining costs
D)facility-sustaining costs
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79
Answer the following questions using the information below:
Products S5 and CP8 each are assigned $100.00 in indirect costs by a traditional costing system. An activity analysis revealed that although production requirements are identical, S5 requires 45 minutes less setup time than CP8.
According to an ABC system, CP8 is ________ under the traditional system.
A)undercosted
B)overcosted
C)fairly costed
D)accurately costed
Products S5 and CP8 each are assigned $100.00 in indirect costs by a traditional costing system. An activity analysis revealed that although production requirements are identical, S5 requires 45 minutes less setup time than CP8.
According to an ABC system, CP8 is ________ under the traditional system.
A)undercosted
B)overcosted
C)fairly costed
D)accurately costed
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80
It is usually difficult to find good cause-and-effect relationships between ________ and a cost allocation base.
A)unit-level costs
B)batch-level costs
C)product-sustaining costs
D)facility-sustaining costs
A)unit-level costs
B)batch-level costs
C)product-sustaining costs
D)facility-sustaining costs
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