課程名稱︰成本與管理會計甲下
課程性質︰必修
課程教師︰劉順仁
開課學院：管理學院
開課系所︰會計系
考試日期（年月日）︰2013.04.16
考試時限（分鐘）：180分鐘
是否需發放獎勵金：是
試題 :
注意事項：
1. 計算題請務必列示計算過程，僅列出答案將不予計分。
2. 務必將答案標示清楚，注意dollar sign 及撇節點。
3. 可用2B鉛筆作答。
I. Multiple Choice (20%)
1. The book value of equipment currently owned by a company is an example of
a(n):
A. future cost.
B. differential cost.
C. opportunity cost.
D. sunk cost.
2. An accounting information system should be design to provide information
that is useful. To be useful the information must be:
A. qualitative rather than quantitative.
B. unique and unavailable through other sources.
C. historical in nature and not purport to predict the future.
D. relevant, accurate, and timely.
3. The individual generally responsible for the direct-material price variance
is the
A. sales manager.
B. production supervisor.
C. purchasing manager.
D. finance manager.
4. Justin Company recently purchased materials from a new supplier at a very
attractive price. The materials were found to be of poor quality, and the
company's laborers struggled significantly as they shaped the materials into
finished product. In a desperation move to make up for some of the time
lost, the manufacturing supervisor brought in more-senior employees from
another part of the plant. Which of the following variances would have a
high probability of arising from this situation?
A. Material price variance, favorable.
B. Material quantity variance, unfavorable.
C. Labor rate variance, unfavorable.
D. All of these.
5. What will cause the variable-overhead efficiency variance?
A. Efficent or inefficient use of a specific component of variable overhead.
B. Full or partial utilization of major equipment reasources.
C. Production of units in excess of the number of units sold.
D. Efficient of inefficient use of the cost driver for favorable overhead.
6. A fixed-overhead volume variance would normally arise when
A. actual hours of activity coincide with actual units of production.
B. budgeted fixed overhead is less (greater) than applied fixed overhaed.
C. there is a fixed-overhead budget variance.
D. actual fixed overhead exceeds budgeted fixed overhead.
Rich Company, which uses a standard cost system, budgeted $800,000 of fixed
overhead when 50,000 machine hours were anticipated. Other data for the period
were
Actual units produced: 10,600
Actual machine hours worked: 51,800
Actual variable overhead incurred: $475,000
Actual fixed overhead incurred: $79,100
Standard variable overhead rate per machine hour: $8.50
Standard production time per unit: 5 hours
7. Rich's variable-overhead efficiency variance and fixed-overhead budget
variance were
A. $10,200F and 9,900F
B. $10,200U and 9,900U
C. $10,200F and 9,900U
D. $10,200U and 9,900F
Use the following information to answer question 8 and 9.
Draco, Inc, has the following overhead standards
Variable overhead: 4 hours at $8 per hour
Fixed overhead: 4 hours at $10 per hour
The standards were based on a planned activity of 20,000 machine hours when
5,000 units were scheduled for production. Actual data below.
Variable overhead incurred: $167,750
Fixed overhead incurred: $210,000
Machine hours worked: 19,800
Actual units produced: 5,100
8. Draco’s fixed-overhead budget variance is
A. $6,000 unfavorable.
B. $7,000 unfavorable.
C. $10,000 unfavorable.
D. $12,000 unfavorable.
9. Draco’s variance-overhead efficiency variance is
A. $550 favorable.
B. $550 unfavorable.
C. $4,800 favorable.
D. $4,800 unfavorable.
10.Which of the following is not a typical quality-cost classification?
A. External failure cost.
B. Internal failure cost.
C. Production inefficiency cost.
D. Prevent cost.
11.Which of the following costs would be classified as an internal failure
cost on a quality report?
A. Reliability engineering.
B. Material inspection.
C. Rework.
D. Warranty repairs.
12.Which of the following is not an example of a responsibility center?
A. Revenue center.
B. Profit center.
C. Investment center.
D. Contribution center.
13.A cost center manager
A. does not have the ability to produce revenue.
B. may be involved with the sale of new marketing programs to clients.
C. would normally be held accountable for producing an adequate return on
invested capital.
D. often oversees divisional operations
14.Weston Company had sales revenue and operating expense of $5,000,000 and
$4,200,000, respectively, for the year just ended. If invested capital
amounted to $6,000,000, the firm’s ROI was
A. 13.33%
B. 83.33%
C. 120.00%
D. 750.00%
15.Consider the following statements about residual income
I. Residual income is incorporates a firm’s cost of acquiring investment
capital.
II. Residual income is a percentage measure, not a dollar measure.
III. If used correctly, residual income may result in division managers
making decisions that are in their own best interest not in the best in
terest of the entire firm.
Which of the above statements is (are) true?
A. I only.
B. II only.
C. I and II.
D. II and III.
Use the following information to answer question 16 and 17:
The following information pertains to Bishop Concrete:
Sales revenue $1,500,000
Gross margin 600,000
Income 90,000
Invested capital 450,000
The company’s imputed interest rate is 8%.
16.The ROI is
A. 6%
B. 15%
C. 20%
D. 30%
17.The residual income is
A. $30,000
B. $36,000
C. $42,000
D. $54,000
18.Tunley Corporation has excess capacity. If the firm desires to implement
the general transfer- pricing rule, opportunity cost would be equal to
A. zero.
B. the direct expenses incurred in producing the goods.
C. the total difference in the cost of production between two divisions.
D. the contribution margin forgone from the lost external sale.
19.Division A transfers a profitable subassembly to Division B, where it is
assembled into a final product. A is located in a European country that has
high tax rate; B is located in an Asian country that has a low tax rate.
Ideally, (1) what type of before-tax income should each division report from
the transfer and (2) what type of transfer price should Division A set for
the subassembly?
Division A Division B Transfer Price
Income Income Set by A
A. Low Low Low
B. Low High Low
C. Low High High
D. High Low High
20.McKenna’s Florida Division is currently purchasing a part from an
outside supplier. The company’s Alabama Division, which has excess
capacity, makes and sells this part for external customers at a variable
cost of $22 and a selling price of $34. If Alabama begins sales to Florida,
it (1) will use the general transfer-pricing rule and (2) will be able to
reduce variable cost on internal transfers by $4. If sales to outsider will
not be affected, Alabama would establish a transfer price of
A. $18.
B. $22.
C. $30.
D. $34.
II.(23%)The Kim Company is a furniture manufacturer with two departments:
molding and finishing. The company uses the FIFO method of process costing.
In August,the following data were recorded for the finishing department:
Units of beginning work in process inventory 12,500
Percentage completion of beginning work in process units 20%
Cost of direct materials in beginning work in process $0
Units started 87,500
Units completed 62,500
Units in ending inventory 25,000
Percentage completion of ending work in process units 90%
Total cost added during current period:
Direct materials $819,000
Direct manufacturing labor $890,500
Manufacturing overhead $770,000
Work in process,beginning:
Transferred-in costs $103,625
Conversion costs $52,500
Cost of units transferred in during corrent period $890,000
Conversion costs are added evenly during the process. Direct material costs
are added when production is 90% complete. The inspection point is at 80%
stage of production. Normal spoilage is 10% of all good units that pass
inspection. Spoiled units are disposed of at zero net disposal value.
Require
For August, summarize total costs to account for and assign these costs to
units completed and transferred out (including normal spoilage), to abnormal
spoilage, and to units in ending work in process.
III.(14%)Quest Motors, Inc., operates as a decentralized multidivision company.
The Vivo division of Quest Motors purchases most of its airbags from the
airbad division. The airbag division's incremental cost for manufactuing
the airbags is $90 per unit. The airbag division is currently working at
80% of capacity. The current market price of air bag is $125 per unit.
Require
1. Using the general guideline presented in the chapter, what is the minimun
price at which airbag division would sell airbsgs to Vivo division (3%)?
2. Suppose the Quest Motors requires that whenever divisions with unused
capacity sell products internally, they must do so at the incremental
cost. Evaluate this transfer pricing policy using the criteria of goal
congruence, evaluating division performance, motivating management
effort, and preserving division autonomy (4%).
3. If the two divisions were to negotiate a transfer price, what is the
possible range of transfer prices? Evaluate this transfer pricing policy
using the criteria of goal congruence, evaluating division performance,
motivating management effort, and preserving division autonomy (5%).
4. Instead of allowing negotiation, suppose that Quest specifies a hybrid
transfer price that "spilts the difference" between the minimum and
maximun prices from the divisions' standpoint. What would be resulting
transfer price for air bags? (2%)
IV.(24%)David James is a cost accountant and business analyst for Doorknob
Design Company (DDC),which manufactures expensive brass doorknobs. DDC uses
two direct cost categories: direct materials and direct manufacturing labor.
James feels that manufacturing overhead is most closely related to material
usage. Therefore,DDC allocates manufacturing overhead to production based
upon pounds of material used.
At the beginning of 2012, DDC budgeted annual production of 400000 doorknobs
and adopted the dollowing standards for each doorknob:
Input Cost/Doorknob
Direct materials(brass) 0.3 lb.@$10/lb. $ 3.00
Direct manufacturing labor 1.2 hours@$20/hour 24.00
Manufacturing overhead:
Variable $ 6/lb.*0.3 lb. 1.80
Fixed $15/lb.*0.3 lb. 4.50
--------
Standard cost per doorknob $33.30
Actual results for April 2012 were as follows:
Production 35,000 doorknobs
Direct materials purchased 12,000 lb. at $11/lb.
Direct material used 10,450 lb.
Direct manufacturing labor 38,500 hours for $808,500
Variable manufacuting overhead $64,150
Fixed manufacturing overhead $152,000
Required
For the month of April, compute the following variances,indicating whether each
is favorable(F) or unfavorable(U):
1. Direct materials price variance(based of purchases)
2. Direct materials efficiency variance
3. Direct manufacturing labor price variance
4. Direct manufacturing labor efficiency variance
5. Variable manufacturing overhead spending variance
6. Variable manufacturing overhead efficiency variance
7. Production-volume variance
8. Fixed manufacturing overhead spending variance
IV.(19%)Performance Auto Company operates a new car division (that sells high
performance sports cars) and a performance parts division (that sells
performance improvement parts for family cars). Some division financial
measures for 2011 are as follows:
New Car Division Performance Part Division
Total Assets $33,000,000 $28,500,000
Current Liabilities 6,600,000 8,400,000
Operating Income 2,475,000 2,565,000
Required Rate of Return 12% 12%
Require
1. Calculate return on investment (ROI) for each division using operating
income as a measure of income and total assets as a measure of investment
(4%).
2. Calculate residual income (RI) for each division using operating income as
a measure of income and total assets minus current liabilitie as a measure
of investment (4%).
3. William Abraham, the New Car Division manager, argues that the performance
parts division has “loaded up on a lot of short-term debt” to boost its
RI. Calculate an alternative RI for each division that is not sensitive to
the amount of short-term debt taken on the performance parts division.
Comment on the result (5%).
4. Performance Auto Company, whose tax rate is 40%, has two sources of fund:
long-term debt with a market value of $18,000,000 at an interest rate of
10%, and equity capital with a market value of $12,000,000 and a cost of
equity of 15%. Applying the same weighted-average cost of capital (WACC) to
each division, calculate EVA for each division (6%).
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※ 編輯: jesonk 來自: 140.112.247.94 (06/08 02:16)