問題一覧
1
two types of accounting information
financial, managerial
2
both a prime cost and a conversion cost
direct labor
3
incurred in marketing the product and delivering products to customers
selling expenses
4
cannot be identified with or traced to a cost object
indirect cost
5
consist of direct labor and factory overhead costs
conversion costs
6
controller is the...?
chief management accountant
7
head of treasury
treasury director
8
japanese business philosophy regarding processes that continuously improve operations and involve employee
kaizen
9
managerial accounting do not always have to be..?
a. prepared according to GAAP b. prepared at fixed interval c. prepared for the business as a whole
10
incurred in managing the company and are not directly related to the manufacturingor selling functions
administrative expenses
11
this inventory consist of the cost of direct and indirect materials that have not entered the manufacturing process
materials inventory
12
involves setting of goals and budget preparation
planning
13
what is x in the formula?
estimated total amount of allocation base
14
this inventory consist of completed products that have not been sold
finished goods inventory
15
hour by hour summary of activities throughout the day
time ticket
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segment of operations
cost object
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records the materials, labor, and manufacturing overhead cost charged to the job
job cost sheet
18
is a document that list the quantity of each type of direct materials meeded to complete the product
bill of materials
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performance of CVP analysis, relevant costing, variable
decision making
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formula for predetermined overhead rate
estimated manufacturing overhead cost/estimated total units in the allocation base
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provides services, assistance and advice to the department with line or other staff responsibilities
staff department
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what is a in the formula?
estimated total fixed MOH cost
23
philosophy of controlling which includes comparing actual and expected results
management by exception
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identified with and can be traces to a cost object
direct costs
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ticket in manufacturing overhead
direct labor
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Who developed TQM?
william deming
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head of accounting
controller
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The process of reducing total cost while improving strategic position of the business
strategic cost management
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what is b in the formula?
estimated variable MOH cost per unit of allocation days
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cost of any material that is an integral part of the finished product
direct materials cost
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monitoring operating results and comparing actual with expected results
controlling
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develops short term actions for managing day to day operation
operational planning
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consist of manufacturing costs
product costs
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operations of business can be classified as:?
service, merchandising, manufacturing
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consist of selling and administrative expenses
period costs
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cost related to support production
period cost
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cost of converting materials into finished product
conversion costs
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directly involved in providing goods or services to the customers of the company
line department
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cost of employee that in an integral part of finished product
direct labor cost
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is a document that specifies the type and quantity of materials to be drawn
materials requisition form
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provides subjective estimate about future decision
estimated data
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provides objective measures of past operation
historical data
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meaning of kaizen
change for better
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is reported at fixed intervals in general purpose financial statement
financial accounting
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measure used to assign overhead costs
allocation base
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payment of cash or the commitment to pay cash in the future
cost
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inventories or capitalizable costs
product cost
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inherent in each of preceding management process
decision making
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cost other than direct materials, and DL that are incurred to manufacturing prosses combined
factory overhead cost
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continual process of detecting and reducing errors in manufacturing and ensuring employees are up to speed with training
total quality management
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all manufacturing cost, fixed and variable are assigned to units of products
absorption costing
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feedback is also used by managers to support continuous process improvement
improving
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3 types of inventory
materials, work in process, finished goods inventory
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an inventory system which alligns raw materials order from supplier directly with production
just in time
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remains constant regardless of activity level
fixed cost
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philosophy of continually improvif busineee, employees, and products
continuous process improvement
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analysis of financial statement
control
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used in developing the company's objectives and translating these objectives into courses of actions
planning
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this inventory consist of DM, DL, FOH for products that entered the manufacturing process but is not yet completed
work in process inventory
60
involved period in strategic planning
5-10 years
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formula in manufacturing overhead applied to products
actual direct labor hours worked x predetermined overhead rate
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developing long term action to achieve company's objectives
strategic planning
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process by which managers run day ti day operation
directing
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varies directly proportional to activity level
variable cost
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what is the cost formula
y=a+bx
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assigning overhead jobs
overhead application
67
what is y in the formula?
estimated total manufacturing overhead cost
68
other term for materials inventory
raw materials inventory
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designed to meet specific needs of company management
managerial accounting
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the elimination of the difference between applied overhead and actual overhead
disposition of over or under applied overhead
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consist of direct materials and direct labor cost
prime costs