COST ACCOUNT
問題一覧
1
The portion of an asset's value on the balance sheet is referred to as an expired cost.
False
2
The portion of an asset that was consumed during a period is referred to an expired cost.
True
3
A fixed cost remains constant on a per-unit basis as production changes.
False
4
A variable cost remains constant on a per-unit basis as production increases
True
5
The relevant range is valid for all levels of activity
False
6
An indirect cost can be easily traced to a cost object.
False
7
Both accountants and economists view variable costs as linear in nature.
False
8
Fixed cost per unit varies directly with production.
False
9
Variable cost per unit remains constant within the relevant range.
True
10
A cost that shifts upward or downward when activity changes by a certain interval is referred to as a mixed cost.
False
11
A cost that shifts upward or downward when activity changes by a certain interval is referred to as a step cost.
True
12
If the cost of an additive is $5,000 + $0.50 for every unit of solvent produced, the cost is classified as a mixed cost.
True
13
If the cost of an additive is $5,000 + $0.50 for every unit of solvent produced, the cost is classified as a step cost.
False
14
A predictor which has an absolute cause and effect relationship to a cost is referred to a cost driver.
True
15
A mixed cost will be an effective cost driver.
False
16
A variable cost will be an effective cost driver.
True
17
Unexpired costs are reflected on the balance sheet.
True
18
Expired costs are reflected on the balance sheet.
False
19
Distribution costs are an example of product costs.
False
20
Distribution costs are an example of period costs.
True
21
Retailers generally have a much high degree of conversion than do manufacturing or professional firms..
False
22
Retailers generally have a much lower degree of conversion than do manufacturing or professional firms.
True
23
In a service industry, direct materials are usually insignificant in amount and cannot easily be traced to a cost object.
True
24
In a service industry, direct materials are usually significant in amount and can be easily traced to a cost object.
False
25
There is an inverse relationship between prevention costs and failure costs.
True
26
There is a direct relationship between prevention costs and failure costs.
False
27
In an actual cost system, actual production overhead costs are accumulated in an Overhead Control account and assigned to Work in Process at the end of the period.
True
28
In an normal cost system, actual production overhead costs are accumulated in an Overhead Control account and assigned to Work in Process at the end of the period.
False
29
In a normal cost system, factory overhead is applied to Work in Process using a predetermined overhead rate.
True
30
In an actual cost system, factory overhead is applied to Work in Process using a predetermined overhead rate.
False
31
In an actual cost system, overhead is assigned to Work in Process Inventory with a debit entry to the account.
True
32
In an actual cost system, overhead is assigned to Work in Process Inventory with a credit entry to the account.
False
33
33. It is not necessary to prepare the Cost of Goods Manufactured statement prior to preparing the Cost of Goods Sold statement.
False
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1
The portion of an asset's value on the balance sheet is referred to as an expired cost.
False
2
The portion of an asset that was consumed during a period is referred to an expired cost.
True
3
A fixed cost remains constant on a per-unit basis as production changes.
False
4
A variable cost remains constant on a per-unit basis as production increases
True
5
The relevant range is valid for all levels of activity
False
6
An indirect cost can be easily traced to a cost object.
False
7
Both accountants and economists view variable costs as linear in nature.
False
8
Fixed cost per unit varies directly with production.
False
9
Variable cost per unit remains constant within the relevant range.
True
10
A cost that shifts upward or downward when activity changes by a certain interval is referred to as a mixed cost.
False
11
A cost that shifts upward or downward when activity changes by a certain interval is referred to as a step cost.
True
12
If the cost of an additive is $5,000 + $0.50 for every unit of solvent produced, the cost is classified as a mixed cost.
True
13
If the cost of an additive is $5,000 + $0.50 for every unit of solvent produced, the cost is classified as a step cost.
False
14
A predictor which has an absolute cause and effect relationship to a cost is referred to a cost driver.
True
15
A mixed cost will be an effective cost driver.
False
16
A variable cost will be an effective cost driver.
True
17
Unexpired costs are reflected on the balance sheet.
True
18
Expired costs are reflected on the balance sheet.
False
19
Distribution costs are an example of product costs.
False
20
Distribution costs are an example of period costs.
True
21
Retailers generally have a much high degree of conversion than do manufacturing or professional firms..
False
22
Retailers generally have a much lower degree of conversion than do manufacturing or professional firms.
True
23
In a service industry, direct materials are usually insignificant in amount and cannot easily be traced to a cost object.
True
24
In a service industry, direct materials are usually significant in amount and can be easily traced to a cost object.
False
25
There is an inverse relationship between prevention costs and failure costs.
True
26
There is a direct relationship between prevention costs and failure costs.
False
27
In an actual cost system, actual production overhead costs are accumulated in an Overhead Control account and assigned to Work in Process at the end of the period.
True
28
In an normal cost system, actual production overhead costs are accumulated in an Overhead Control account and assigned to Work in Process at the end of the period.
False
29
In a normal cost system, factory overhead is applied to Work in Process using a predetermined overhead rate.
True
30
In an actual cost system, factory overhead is applied to Work in Process using a predetermined overhead rate.
False
31
In an actual cost system, overhead is assigned to Work in Process Inventory with a debit entry to the account.
True
32
In an actual cost system, overhead is assigned to Work in Process Inventory with a credit entry to the account.
False
33
33. It is not necessary to prepare the Cost of Goods Manufactured statement prior to preparing the Cost of Goods Sold statement.
False