Cost Accounting Foundations And Ev
b b b b
olutions 9th Edition By Michael R. Kin
b b b b b b
ney – Test Bank b b b
To purchase this Complete Test Bank with Answers Click the link Below
b b b b b b b b b b b
https://www.quizsol.com/product/cost-accounting-foundations-and-evolutions-9th-edition-by-michael-
br-kinney-test-bank/
Description
INSTANT DOWNLOAD WITH ANSWERS
b b b
Cost Accounting Foundations And Evolutions 9
b b b b b
th Edition by Michael R. Kinney – Test Bank
b b b b b b b b
Sample Test b
Chapterb3–
PredeterminedbOverheadbRates,bFlexiblebBudgets,bandbAbsorption/VariablebCosting
Student:
1. Absorptionbcostingbisbcommonlybusedbforbexternalbreporting.
True False
b
2. Absorptionbcostingbisbcommonlybusedbforbinternalbreporting.
True False
b
3. Variablebcostingbisbcommonlybusedbforbinternalbreporting.
True False
b
,4. Variablebcostingbisbcommonlybusedbforbexternalbreporting.
bTrue False
5. Inbanbactualbcostbsystem,bfactoryboverheadbisbassignedbdirectlybtobproductsbandbservices.
bTrue False
6. Inbabnormalbcostbsystem,bfactoryboverheadbisbassignedbdirectlybtobproductsbandbservices.
True False
b
7. Inbabnormalbcostbsystem,bfactoryboverheadbisbassignedbtobanboverheadbcontrolbaccountbandbthen
ballocatedbtobproductsbandbservices.
True False
8. Inbanbactualbcostbsystem,bfactoryboverheadbisbassignedbtobanboverheadbcontrolbaccountbandbthen
ballocatedbtobproductsbandbservices.
True False
9. AbdebitbtobthebFactorybOverheadbaccountbrepresentsbactualboverheadbcosts.
True False
b
10. AbdebitbtobthebFactorybOverheadbaccountbrepresentsbappliedboverheadbcosts.
True False
b
11. AbcreditbtobthebFactorybOverheadbaccountbrepresentsbactualboverheadbcosts.
True False
b
12. AbcreditbtobthebFactorybOverheadbaccountbrepresentsbappliedboverheadbcosts.
bTrue False
13. Ifbactualboverheadbexceedsbappliedboverhead,bfactoryboverheadbisbsaidbtobbeboverapplied.
bTrue False
14. Ifbactualboverheadbexceedsbappliedboverhead,bfactoryboverheadbisbsaidbtobbebunderapplied.
True False
b
15. Ifboverappliedbfactoryboverheadbisbimmaterial,bthebaccountbisbclosedbbybabcreditbtobCostbofbGoods
bSold.
True False
16. Ifboverappliedbfactoryboverheadbisbmaterial,bthebaccountbisbclosedbbybabcreditbtobCostbofbGood
sbSold.
True False
17. Ifboverappliedbfactoryboverheadbisbimmaterial,bthebaccountbisbclosedbbybabdebitbtobCostbofbGoods
bSold.
True False
,18. Ifbunderappliedbfactoryboverheadbisbimmaterial,bthebaccountbisbclosedbbybabdebitbtobCostbofbGoods
bSold.
True False
19. Ifbunderappliedbfactoryboverheadbisbimmaterial,bthebaccountbisbclosedbbybabcreditbtobCostbof
bGoodsbSold.
True False
20. Ifbunderappliedbfactoryboverheadbisbmaterial,bitbisbproratedbamongbWorkbinbProcessbInventory,
bFinishedbGoodsbInventory,bandbCostbofbGoodsbSold.
True False
21. Thebestimatedbmaximumbpotentialbactivitybforbabspecifiedbtimebisbknownbasbtheoreticalbcapacity.
True False
b
22. Practicalbcapacitybdoesbnotbadjustbforbroutinebdowntimebinbabproductionbprocess.
True False
b
23. Normalbcapacitybconsidersbpresentbandbfuturebproductionblevelsbandbcyclicalbfluctuations.
bTrue False
24. Expectedbcapacitybisbablong-
runbmeasurebofbactivity.bTrue False
25. Practicalbcapacitybisbthebcapacitybthatbcanbbebachievedbduringbnormalbworkingbhours.
True False
b
26. Thebregressionbequationbyb=ba+bbXbassumesbthatbthebfunctionbisbcurvilinearbinbnature.
True False
b
27. Thebregressionbequationbyb=ba+bbXbassumesbthatbthebfunctionbisblinearbinbnature.
True False
b
28. Thebslopebofbabregressionblinebisbdeterminedbbybdividingbthebchangebinbactivityblevelbbybthebchang
ebinbtotalbcost.
True False
29. Thebslopebofbabregressionblinebisbdeterminedbbybdividingbthebchangebinbtotalbcostbbybthebchangebin
bactivityblevel.
True False
30. Thebhigh-
lowbmethodbexcludesboutliersbfrombthebcalculationbofbthebslopebofbabregressionbline.bTrue False
31. Whenbusingbthebhigh-
lowbmethod,bfixedbcostsbarebcomputedbbeforebthebvariablebcomponentbisbcomputed.
True False
, 32. Whenbusingbthebhigh-
lowbmethod,bthebvariablebcomponentbisbcomputedbbeforebcomputingbthebfixedbcomponent.
True False
33. Abflexiblebbudgetbisbabplanningbdocumentbthatbpresentsbexpectedbvariablebandbfixedboverhead
bcostsbatbdifferentbactivityblevels.
True False
34. Abmasterbbudgetbisbabplanningbdocumentbthatbpresentsbexpectedbvariablebandbfixedboverhead
bcostsbatbdifferentbactivityblevels.
True False
35. Plantwideboverheadbratesbprovidebabmorebaccuratebcomputationbofbfactoryboverheadbthan
bdepartmentalboverheadbrates
True False
36. Plantwideboverheadbratesbprovidebablessbaccuratebcomputationbofbfactoryboverheadbthan
bdepartmentalboverheadbrates
True False
37. Absorptionbcostingbconformsbwithbgenerallybacceptedbaccountingbprinciples.
bTrue False
38. Directbcostingbconformsbwithbgenerallybacceptedbaccountingbprinciples.
bTrue False
39. ThebInternalbRevenuebServiceballowsbthebusebofbbothbvariablebandbabsorptionbcosting.
True False
b
40. Salesbminusbcostbofbgoodsbsoldbisbreferredbtobasbvariablebcontributionbmargin.
True False
b
41. Phantombprofitsbresultbwhenbabsorptionbcostingbisbusedbandbsalesbexceedbproduction.
True False
b
42. Phantombprofitsbresultbwhenbabsorptionbcostingbisbusedbandbproductionbexceedsbsales.
bTrue False
43. Ifbproductionbexceedsbsales,babsorptionbcostingbnetbincomebexceedsbvariablebcostingbnetbincome.
bTrue False
44. Ifbproductionbexceedsbsales,babsorptionbcostingbnetbincomebisblessbthanbvariablebcostingbnet
bincome.
True False
b b b b
olutions 9th Edition By Michael R. Kin
b b b b b b
ney – Test Bank b b b
To purchase this Complete Test Bank with Answers Click the link Below
b b b b b b b b b b b
https://www.quizsol.com/product/cost-accounting-foundations-and-evolutions-9th-edition-by-michael-
br-kinney-test-bank/
Description
INSTANT DOWNLOAD WITH ANSWERS
b b b
Cost Accounting Foundations And Evolutions 9
b b b b b
th Edition by Michael R. Kinney – Test Bank
b b b b b b b b
Sample Test b
Chapterb3–
PredeterminedbOverheadbRates,bFlexiblebBudgets,bandbAbsorption/VariablebCosting
Student:
1. Absorptionbcostingbisbcommonlybusedbforbexternalbreporting.
True False
b
2. Absorptionbcostingbisbcommonlybusedbforbinternalbreporting.
True False
b
3. Variablebcostingbisbcommonlybusedbforbinternalbreporting.
True False
b
,4. Variablebcostingbisbcommonlybusedbforbexternalbreporting.
bTrue False
5. Inbanbactualbcostbsystem,bfactoryboverheadbisbassignedbdirectlybtobproductsbandbservices.
bTrue False
6. Inbabnormalbcostbsystem,bfactoryboverheadbisbassignedbdirectlybtobproductsbandbservices.
True False
b
7. Inbabnormalbcostbsystem,bfactoryboverheadbisbassignedbtobanboverheadbcontrolbaccountbandbthen
ballocatedbtobproductsbandbservices.
True False
8. Inbanbactualbcostbsystem,bfactoryboverheadbisbassignedbtobanboverheadbcontrolbaccountbandbthen
ballocatedbtobproductsbandbservices.
True False
9. AbdebitbtobthebFactorybOverheadbaccountbrepresentsbactualboverheadbcosts.
True False
b
10. AbdebitbtobthebFactorybOverheadbaccountbrepresentsbappliedboverheadbcosts.
True False
b
11. AbcreditbtobthebFactorybOverheadbaccountbrepresentsbactualboverheadbcosts.
True False
b
12. AbcreditbtobthebFactorybOverheadbaccountbrepresentsbappliedboverheadbcosts.
bTrue False
13. Ifbactualboverheadbexceedsbappliedboverhead,bfactoryboverheadbisbsaidbtobbeboverapplied.
bTrue False
14. Ifbactualboverheadbexceedsbappliedboverhead,bfactoryboverheadbisbsaidbtobbebunderapplied.
True False
b
15. Ifboverappliedbfactoryboverheadbisbimmaterial,bthebaccountbisbclosedbbybabcreditbtobCostbofbGoods
bSold.
True False
16. Ifboverappliedbfactoryboverheadbisbmaterial,bthebaccountbisbclosedbbybabcreditbtobCostbofbGood
sbSold.
True False
17. Ifboverappliedbfactoryboverheadbisbimmaterial,bthebaccountbisbclosedbbybabdebitbtobCostbofbGoods
bSold.
True False
,18. Ifbunderappliedbfactoryboverheadbisbimmaterial,bthebaccountbisbclosedbbybabdebitbtobCostbofbGoods
bSold.
True False
19. Ifbunderappliedbfactoryboverheadbisbimmaterial,bthebaccountbisbclosedbbybabcreditbtobCostbof
bGoodsbSold.
True False
20. Ifbunderappliedbfactoryboverheadbisbmaterial,bitbisbproratedbamongbWorkbinbProcessbInventory,
bFinishedbGoodsbInventory,bandbCostbofbGoodsbSold.
True False
21. Thebestimatedbmaximumbpotentialbactivitybforbabspecifiedbtimebisbknownbasbtheoreticalbcapacity.
True False
b
22. Practicalbcapacitybdoesbnotbadjustbforbroutinebdowntimebinbabproductionbprocess.
True False
b
23. Normalbcapacitybconsidersbpresentbandbfuturebproductionblevelsbandbcyclicalbfluctuations.
bTrue False
24. Expectedbcapacitybisbablong-
runbmeasurebofbactivity.bTrue False
25. Practicalbcapacitybisbthebcapacitybthatbcanbbebachievedbduringbnormalbworkingbhours.
True False
b
26. Thebregressionbequationbyb=ba+bbXbassumesbthatbthebfunctionbisbcurvilinearbinbnature.
True False
b
27. Thebregressionbequationbyb=ba+bbXbassumesbthatbthebfunctionbisblinearbinbnature.
True False
b
28. Thebslopebofbabregressionblinebisbdeterminedbbybdividingbthebchangebinbactivityblevelbbybthebchang
ebinbtotalbcost.
True False
29. Thebslopebofbabregressionblinebisbdeterminedbbybdividingbthebchangebinbtotalbcostbbybthebchangebin
bactivityblevel.
True False
30. Thebhigh-
lowbmethodbexcludesboutliersbfrombthebcalculationbofbthebslopebofbabregressionbline.bTrue False
31. Whenbusingbthebhigh-
lowbmethod,bfixedbcostsbarebcomputedbbeforebthebvariablebcomponentbisbcomputed.
True False
, 32. Whenbusingbthebhigh-
lowbmethod,bthebvariablebcomponentbisbcomputedbbeforebcomputingbthebfixedbcomponent.
True False
33. Abflexiblebbudgetbisbabplanningbdocumentbthatbpresentsbexpectedbvariablebandbfixedboverhead
bcostsbatbdifferentbactivityblevels.
True False
34. Abmasterbbudgetbisbabplanningbdocumentbthatbpresentsbexpectedbvariablebandbfixedboverhead
bcostsbatbdifferentbactivityblevels.
True False
35. Plantwideboverheadbratesbprovidebabmorebaccuratebcomputationbofbfactoryboverheadbthan
bdepartmentalboverheadbrates
True False
36. Plantwideboverheadbratesbprovidebablessbaccuratebcomputationbofbfactoryboverheadbthan
bdepartmentalboverheadbrates
True False
37. Absorptionbcostingbconformsbwithbgenerallybacceptedbaccountingbprinciples.
bTrue False
38. Directbcostingbconformsbwithbgenerallybacceptedbaccountingbprinciples.
bTrue False
39. ThebInternalbRevenuebServiceballowsbthebusebofbbothbvariablebandbabsorptionbcosting.
True False
b
40. Salesbminusbcostbofbgoodsbsoldbisbreferredbtobasbvariablebcontributionbmargin.
True False
b
41. Phantombprofitsbresultbwhenbabsorptionbcostingbisbusedbandbsalesbexceedbproduction.
True False
b
42. Phantombprofitsbresultbwhenbabsorptionbcostingbisbusedbandbproductionbexceedsbsales.
bTrue False
43. Ifbproductionbexceedsbsales,babsorptionbcostingbnetbincomebexceedsbvariablebcostingbnetbincome.
bTrue False
44. Ifbproductionbexceedsbsales,babsorptionbcostingbnetbincomebisblessbthanbvariablebcostingbnet
bincome.
True False
