第三章 Cost accounting techniques：1.Accounting for material，labour and overheads 2. Absorption and marginal costing 3.Job costing，batch costing and process costing3.1Accounting for material:The investment in inventory is a very important one for most businesses, both in terms of monetary value and relationships with customers (no inventory, no sale, loss of customer goodwill). It is therefore vital that management establish and maintain an effective inventory control system. This chapter will concentrate on a inventory control system for materials, but similar problems and considerations apply to all forms of inventory.[单选题]The costs of materials for product B are made up as follows.
3.2Accounting for labour:Just as management need to control inventories and operate an appropriate valuation policy in an attempt to control material costs, so too must they be aware of the most suitable remuneration policy for their organisation. We will be looking at a number of methods of remuneration and will consider the various types of incentive scheme that exist. We will also examine the procedures and documents required for the accurate recording of labour costs. Labour turnover will be studied too.
3.3Accounting for overheads:Absorption costing is a method of accounting for overheads. It is basically a method of sharing out overheads incurred among units produced. This chapter begins by explaining why absorption costing might be necessary and then provides an overview of how the cost of a unit of product is built up under a system of absorption costing. A detailed analysis of this costing method is then provided, covering the three stages of absorption costing: allocation, apportionment and absorption.
3.4Absorption and marginal costing:This chapter defines marginal costing and compares it with absorption costing. Whereas absorption costing recognises fixed costs (usually fixed production costs) as part of the cost of a unit of output and hence as product costs, marginal costing treats all fixed costs as period costs. Two such different costing methods obviously each have their supporters and so we will be looking at the arguments both in favour of and against each method. Each costing method, because of the different inventory valuation used, produces a different profit figure and we will be looking at this particular point in detail.
3.5Job and batch costing:The first costing method that we shall be looking at is job costing. We will see the circumstances in which job costing should be used and how the costs of jobs are calculated. We will look at how the costing of individual jobs fits in with the recording of total costs in control accounts and then we will move on to batch costing, the procedure for which is similar to job costing. Service costing deals with specialist services supplied to third parties or an internal service supplied within an organisation.
3.6Process costing:In this chapter we will consider process costing. The chapter will consider the topic from basics, looking at how to account for the most simple of processes. We then move on to how to account for any losses which might occur, as well as what to do with any scrapped units which are sold. We also consider how to deal with any closing work in progress and then look at two methods of valuing opening work in progress. Valuation of both opening and closing work in progress hinges on the concept of equivalent units, which will be explained in detail.
Material P: $1,000
Material Q: $600
Material R: $1,025
Material S: $375
If the material proportions were displayed on a pie chart, how many degrees would material Q represent? ( )选项:[120 degrees
, 204 degrees
, 72 degrees
, 144 degrees
]
[单选题]You have just calculated for the last two six-monthly periods, the running costs of a factory, broken down into five categories. You are using a computer package which can produce radar charts, pie charts, time series graphs and scatter diagrams, among others. The graphics to best illustrate the relative sizes of the cost categories in this situation will be: ( ) 选项:[Line graphs
, Scatter diagrams
, Pie charts
, Radar charts
]
[单选题]The following data relates to an item of raw material.
Unit cost of raw material $20
Usage per week 250 units
Cost of ordering material, per order $400
Annual cost of holding inventory, as a % of cost 10%
Number of weeks in a year 48
What is the economic order quantity, to the nearest unit? ( )选项:[316 units
, 1,549 units
, 2,191 units
, 693 units
]
[单选题]If the first in, first out method of pricing had been used, the value of the issue on 9 September would have been: ( )选项:[$350
, $355
, $420
, $395
]
[单选题]FIFO prices materials issues at the prices of the newest items in inventory, and values closing inventory at the value of the most oldest items in inventory.
选项:[错, 对]
[单选题]FIFO prices materials issues at the prices of the newest items in inventory, and values closing inventory at the value of the most oldest items in inventory.
选项:[对, 错]
[单选题]The costs of materials for product B are made up as follows.
Material P: $1,000
Material Q: $600
Material R: $1,025
Material S: $375
If the material proportions were displayed on a pie chart, how many degrees would material Q represent? ( )选项:[204 degrees
, 144 degrees
, 72 degrees
, 120 degrees
]
[单选题]You have just calculated for the last two six-monthly periods, the running costs of a factory, broken down into five categories. You are using a computer package which can produce radar charts, pie charts, time series graphs and scatter diagrams, among others. The graphics to best illustrate the relative sizes of the cost categories in this situation will be: ( ) 选项:[Pie charts
, Line graphs
, Scatter diagrams
, Radar charts
]
[单选题]If the first in, first out method of pricing had been used, the value of the issue on 9 September would have been: ( )选项:[$395
, $355
, $350
, $420
]
[单选题]The following data relates to an item of raw material.
Unit cost of raw material $20
Usage per week 250 units
Cost of ordering material, per order $400
Annual cost of holding inventory, as a % of cost 10%
Number of weeks in a year 48
What is the economic order quantity, to the nearest unit? ( )选项:[1,549 units
, 2,191 units
, 316 units
, 693 units
]
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