2008 cost and management accounting himalaya publishing house mumbai

... including a costing profit and loss account Rs Administrative and selling costs (to be written off against profits) 4,250 (16) Kaat Ltd operates separate cost accounting and financial accounting ... area occupied by the two machines M1 and M2 and the two service Trang 27CHAPTER 4 – MARGINAL COSTING AND ABSORPTION COSTING (a) the actual production overhead cost for October (b) the profit that ... Alpha, Beta and Gamma The management has some reservations on the method of costing Consequently, the cost accountant has reviewed the records and gathered the following information: (i) The costs

Ngày tải lên: 01/04/2017, 10:06

... for Cost and Management Accounting 7th Edition is devoted to providing information for external users 1 a Management accounting 2 b Financial accounting 3 c Internal accounting 4 d Cost accounting ... shares and Financial Services Authority 4 d according to financial accounting standards Cost accounting 1 a is concerned with assigning costs to various cost objects 2 b attempts to satisfy the costing ... as suppliers 3 c shareholders of the company 4 d management of the firm Management accounting and financial accounting differ in that management accounting information is prepared 1 a following

Ngày tải lên: 14/11/2017, 16:04

... 3 Cost accounting is a subset of management accounting Cost accounting focuses on the determination of product or service cost Management accounting includes the provision of all internal accounting ... transactions Cost accounting is a subset of both financial and managerial accounting It provides information on product/service cost that is used on the balance sheet and income statement Managerial accounting ... performance, and making decisions Some information generated by cost accounting is used in management accounting and some 1 Trang 22Trang 3 4 Operating in a global environment means that more decision andcontrol

Ngày tải lên: 28/02/2018, 08:15

... is a subset of both management and financial accounting c Management accounting is a subset of both cost and financial accounting d Financial accounting is a subset of cost accounting Trang 725 ... Institute of Management Accountants issuesa Statements on Accounting Research for Managers b Statements on Management Accounting c Statements on Managerial and Cost Accounting d Cost Accounting Standards ... compliance with Cost Accounting Standards Board pronouncements Trang 412 Cost accounting is directed toward the needs of13 Cost accounting standards a are legal standards set by the Institute of Management

Ngày tải lên: 28/02/2018, 10:02

... cost per unit and total fixed costs increase b fixed cost per unit and total variable cost increase c total cost will increase and fixed cost per unit will decrease d variable cost per unit and ... output b all manufacturing costs other than direct labor and raw material costs c raw material purchased and direct labor costs d the raw material used and direct labor costs Trang 830 In a perpetual ... cost accounting means the range over which a costs may fluctuate b cost relationships are valid c production may vary d relevant costs are incurred 2 Which of the following defines variable cost

Ngày tải lên: 28/02/2018, 10:02

... level c the person who gathers and transfers cost data to the management accountant d any activity that causes costs to be incurred Trang 621 In activity-based costing, cost reduction efforts are ... 32 Product costing systems in use over the last 40 years a concentrated on using multiple cost pools and cost drivers b were often technologically incapable of handling activity-based costing information ... the cost of a high-volume item? a over-costs the product b under-costs the product c has no effect the product cost d cost per unit is unaffected by product volume Trang 1037 In activity-based costing,

Ngày tải lên: 28/02/2018, 10:02

... costs d All of the above 5 Job order costing and process costing have which of the following characteristics? Job Order Costing Process Costing a homogeneous products heterogeneous products and ... use of standard costing is acceptable for job order costing systems, actual cost records should still be maintained b It is normally more time-consuming for a company to use standard costs in ... Inventory and Finished Goods Inventory c If material requisition forms are used, job order cost sheets do not need to be maintained d Job order cost sheets show costs for direct material and direct

Ngày tải lên: 28/02/2018, 10:02

... and standard costing systems b job order and process costing systems c process and standard costing systems d job order and normal costing systems 27 When standard costs are used in process costing, ... for standard process costing are the same as a the EUP calculations for weighted average process costing b the EUP calculations for FIFO process costing c LIFO inventory costing for merchandise ... period cost b current period cost plus the cost of beginning inventory c current period cost less the cost of beginning inventory d current period cost plus the cost of ending inventory 8 The

Ngày tải lên: 28/02/2018, 10:02

... the costs per EUP for material and conversion are $1.00 and $1.50, respectively What is the amount of the period cost for July using FIFO? Trang 1661 Assume that the costs per EUP for material and ... or period cost If rework is considered normal and actual costing is used, the cost is added to current Work in Process and is assigned to all units produced If rework is abnormal, the cost is allocated ... transferred out and those in beginning inventory d both b and c Trang 518 In a job order costing system, the net cost of normal spoilage is equal toa estimated disposal value plus the cost of spoiled

Ngày tải lên: 28/02/2018, 10:02

... a sunk cost? a direct material cost b direct labor cost c joint cost d building cost 25 The definition of a sunk cost is a a cost that cannot be recovered regardless of what happens b a cost that ... labor, and overhead b direct material and direct labor only c direct labor and overhead only d overhead and direct material only 7 Each of the following is a method to allocate joint costs except ... minus further processing and disposal costs b final selling price minus further processing and disposal costs c selling price at split-off minus allocated joint processing costs d final selling

Ngày tải lên: 28/02/2018, 10:02

... between total a actual cost and total cost applied for the standard output of the period b standard cost and total cost applied to production c actual cost and total standard cost of the actual input ... either job order costing or process costing d neither job order costing nor process costing 7 A purpose of standard costing is to a replace budgets and budgeting b simplify costing procedures ... d actual costs of material, labor, and overhead 10–1 Trang 25 A standard cost system may be used ina job order costing, but not process costing b process costing, but not job order costing c

Ngày tải lên: 28/02/2018, 10:02

... costs between cost of goods sold and inventories, and variable costing considers all fixed costs to be period costs c Absorption costing “inventories” all direct costs, but variable costing considers ... the type of cost accounting often called “direct costing”? 33 What costs are treated as product costs under variable (direct) costing? a only direct costs b only variable production costs c all ... manufacturing overhead d fixed selling and administrative expense 19 Consider the following three product costing alternatives: process costing, job order costing, and standard costing Which of these can

Ngày tải lên: 28/02/2018, 10:02

... and funds management. 2 Not all cost information is How financial and management accounting relate to each other? How does cost accounting relate to financial and management accounting? cost accounting ... presented in the text The development of cost and management accounting standards and Robert B Hubbard, “Return of the Cost Accounting Standards Board,” Management Accounting (October 1990), p 56 Part ... language has two primary “variations”: financial accounting and management accounting Cost accounting is a bridge between financial and management accounting Accounting information addresses three different...

Ngày tải lên: 18/12/2013, 09:13

... and funds management. 2 Not all cost information is How financial and management accounting relate to each other? How does cost accounting relate to financial and management accounting? cost accounting ... presented in the text The development of cost and management accounting standards and Robert B Hubbard, “Return of the Cost Accounting Standards Board,” Management Accounting (October 1990), p 56 Part ... language has two primary “variations”: financial accounting and management accounting Cost accounting is a bridge between financial and management accounting Accounting information addresses three different...

Ngày tải lên: 08/04/2014, 01:20

... Definition of a cost The need for cost classification The meaning of ‘activity’ and ‘output’ Variable costs and fixed costs Direct costs and indirect costs Product costs and period costs Cost classification ... 334 361 393 MANAGEMENT ACCOUNTING Part Setting the scene and defining the basic tools of management accounting 16 Functions of management accounting 17 Classification of costs 18 Product costs: materials, ... understanding B Application C Problem solving and evaluation 413 414 414 415 Notes and references 417 MANAGEMENT ACCOUNTING Part Setting the scene and defining the basic tools of management accounting...

Ngày tải lên: 08/10/2013, 18:07