a manufacturing company would include setup and downtime in their direct
A manufacturing company would include setup and downtime in their direct
31.A standard expense isa.a expense which is paid because that a team of similar products.b.the average price in one industry.c.a predetermined cost.d.the historical price of producing a product last year.
31.A standard cost isa.a price which is paid because that a team of comparable products.b.the average expense in an industry.c.a predetermined cost.d.the historical price of creating a product last year.
32.The difference in between a budget and a traditional is thata.a budget plan expresses what expenses were, while a standard expresses what costs should be.b.a budget plan expresses management"s plans, when a standard reflects what in reality happened.c.a spending plan expresses a full amount while a conventional expresses a unit amount.d.standards room excluded from the cost accountancy system, conversely, budgets are usually incorporated right into the cost bookkeeping system.
33.Standard costs may be offered bya.universities.b.governmental agencies.c.charitable organizations.d.all the these.
34.Which that the complying with statements is false?a.A standard expense is an ext accurate than a budgeted cost.b.A traditional is a unit amount.c.In concept, standards and also budgets are essentially the same.d.The standard price of a product is identical to the budgeted expense per unit of product
35.Budget data are not journalized in cost accountancy systems through the exemption ofa.the applications of manufacturing overhead.b.direct work budgets.c.direct materials budgets.d.cash budget plan data
36.It is possible that a company"s gaue won statements may report inventories ata.budgeted costs.b.standard costs.c.both budgeted and standard costs.d.none of these.
37.If standard costs are included into the accountancy system,a.it may simplify the costing of inventories and also reduce clerical costs.b.it can get rid of the need for the budgeting process.c.the accountancy system will develop information i m sorry is much less relevant than the historical cost accounting system.d.approval that the stockholders is required.
38.Standard costsa.may present past expense experience.b.help develop expected future costs.c.are the budgeted costs per unit in the present.d.all the these.
39.Which that the complying with statements around standard costs is false?a.Properly collection standards need to promote efficiency.b.Standard prices facilitate monitoring planning.c.Standards must not be provided in "management by exception."d.Standard expenses can leveling the costing that inventories.
40.Which of the following is not thought about an advantage of using typical costs?a.Standard costs can minimize clerical costs.b.Standard costs can be useful in setup prices for finished goods.c.Standard expenses can be supplied as a way of recognize fault with performance.d.Standard prices can make employees "cost-conscious."
41.If a agency is involved with the potential negative effects of creating standards, they shoulda.set loosened standards the are straightforward to fulfill.b.offer wage incentives come those conference standards.c.not employ any kind of standards.d.set tight criter in order come motivate people
42.A typical which to represent an reliable level of performance that is attainable under expected operating conditions is called a(n)a.ideal standard.b.loose standard.c.tight standard.d.normal standard
43.Ideal standardsa.are rigorous yet attainable.b.are the standards normally used in a understand budget.c.reflect optimal power under perfect operation conditions.d.will constantly motivate employees to achieve the best output.
44.The last decision as to what standard price should be is the obligation ofa.the quality manage engineer.b.the managerial accountants.c.the to buy agent.d.management.
45.The labour time requirements for standards might be established by thea.sales manager.b.product manager.c.industrial engineers.d.payroll department manager.
.The two levels the standards might be collection at area.normal and completely efficient.b.normal and ideal.c.ideal and less efficient.d.fully effective and totally effective
47.The most rigorous of all standards is thea.normal standard.b.realistic standard.c.ideal standard.d.conceivable standard.
48.Most companies that use standards set them ata.the typical level.b.a conceivable level.c.the right level.d.last year"s level.
49.A managerial accountant1.does not participate in the standard setting process.2.provides understanding of price behaviours in the standard setup process.3.provides input of historical prices to the standard setup process.a.1b.2c.3d.2 and 3
50.The expense of freight-ina.is to be included in the standard expense of direct materials.b.is taken into consideration a marketing expense.c.should have actually a different standard personal from straight materials.d.should no be contained in a standard price system.
51.The direct materials quantity standard would not be expressed ina.kilograms.b.barrels.c.dollars.d.board metres.
52.The straight materials quantity standard shoulda.exclude unavoidable waste.b.exclude high quality considerations.c.allow for typical spoilage.d.always it is in expressed as an ideal standard.
53.The straight labour amount standard is sometimes referred to as the straight laboura.volume standard.b.effectiveness standard.c.efficiency standard.d.quality standard
54.A manufacturing firm would incorporate setup and downtime in your directa.materials price standard.b.materials quantity standard.c.labour price standard.d.labour amount standard
55.Allowance because that spoilage is part of the directa.materials price standard.b.materials quantity standard.c.labour price standard.d.labour quantity standard
56.The total standard price to develop one unit the product is showna.at the bottom of the income statement.b.at the bottom the the balance sheet.c.on the standard expense card.d.in the work-related in procedure Inventory account
57.An unfavourable materials quantity variance would occur ifa.more products are purchase than are used.b.actual kilograms of products used were less than the conventional kilograms llowed.c.actual labour hours used were better than the standard labour hrs allowed.d.actual kilograms of products used were higher than the typical kilograms allowed.
58.If actual direct material prices are higher than standard direct materials costs, it way thata.actual costs were calculation incorrectly.b.the actual unit price of straight materials was higher than the standard unit price of straight materials.c.the yes, really unit price the raw materials or the actual quantities of raw products used was higher than the typical unit price or standard amounts of raw materials expected.d.the purchasing agent or the manufacturing foreman is inefficient.