第五章 Standard costing：1. Standard costing 2.Variance analysis5.1Standard costing:Just as there are standards for most things in our daily lives (cleanliness in hamburger restaurants, educational achievement of nine year olds, number of trains running on time), there are standards for the costs of products and services. Moreover, just as the standards in our daily lives are not always met, the standards for the costs of products and services are not always met. In this chapter we will be looking at standards for costs, what they are used for and how they are set. In the next chapter we will see how standard costing forms the basis of a process called variance analysis, a vital management control tool.[单选题]JC Co operates a bottling plant. The liquid content of a filled bottle of product T is 2 litres. During the filling process there is a 30% loss of liquid input due to spillage and evaporation. The standard price of the liquid is $1.20 per litre. The standard cost of the liquid per bottle of product T, to the nearest cent, is: ( )选项:[$3.12
5.2Cost Variance calculations and analysis:This chapter examines variance analysis and sets out the method of calculating the variances stated below in the Study Guide. We will then go on to look at the reasons for and significance of cost variances.
5.3Sales variances and operating statements:The objective of cost variance analysis, which we looked at in the previous chapter, is to assist management in the control of costs. Costs are, however, only one factor which contribute to the achievement of planned profit. Sales are another important factor and sales variances can be calculated to aid management's control of their business. We will therefore begin this chapter by examining sales variances.
, $3.43
, $2.86
, $2.40
]
[单选题]What is an attainable standard? ( )选项:[A standard which is kept unchanged, to show the trend in costs.
, A standard which includes some allowance for losses, waste and inefficiencies. It represents the level of performance which is attainable under efficient operatingconditions.
, A standard which includes no allowance for losses, waste and inefficiencies. It represents the level of performance which is attainable under perfect operating conditions.
, A standard which is based on currently attainable operating conditions.
]
[单选题]The B Co uses a standard absorption costing system and produces one product, the Blob. The following information is available for September.
Standard cost per Blob $31
Budgeted sales (units) 7,100
Actual sales (units) 6,600
Sales price variance $1,250 (A)
Sales volume variance $4,500 (A)
Calculate the sales revenue for September . ( ) 选项:[$265,250
, $252,250
, $256,750
, $262,750
]
[单选题]Extracts from H Co’s records for June are as follows.
What is the total direct labour cost variance?选项:[$1,920 (F)
, $1,920 (A)
, $1,536 (A)
, $1,536 (F)
]
[单选题]A standard marginal costing system: (i) Calculates fixed overhead variances using the budgeted absorption rate per unit(ii) Calculates sales volume variances using the standard contribution per unit(iii) Values finished goods stock at the standard variable cost of productionWhich of the above statements is/are correct?( )
选项:[(i) and (ii) only
, (i) and (iii) only, (i), (ii) and (iii)
, (ii) and (iii) only
]
[单选题]A standard marginal costing system: (i) Calculates fixed overhead variances using the budgeted absorption rate per unit(ii) Calculates sales volume variances using the standard contribution per unit(iii) Values finished goods stock at the standard variable cost of productionWhich of the above statements is/are correct?( )
选项:[(i), (ii) and (iii)
, (ii) and (iii) only
, (i) and (ii) only
, (i) and (iii) only]
[单选题]Extracts from H Co’s records for June are as follows.
What is the total direct labour cost variance?选项:[$1,920 (A)
, $1,536 (A)
, $1,920 (F)
, $1,536 (F)
]
[单选题]The B Co uses a standard absorption costing system and produces one product, the Blob. The following information is available for September.
Standard cost per Blob $31
Budgeted sales (units) 7,100
Actual sales (units) 6,600
Sales price variance $1,250 (A)
Sales volume variance $4,500 (A)
Calculate the sales revenue for September . ( ) 选项:[$256,750
, $265,250
, $262,750
, $252,250
]
[单选题]JC Co operates a bottling plant. The liquid content of a filled bottle of product T is 2 litres. During the filling process there is a 30% loss of liquid input due to spillage and evaporation. The standard price of the liquid is $1.20 per litre. The standard cost of the liquid per bottle of product T, to the nearest cent, is: ( )选项:[$3.43
, $2.40
, $2.86
, $3.12
]
[单选题]What is an attainable standard? ( )选项:[A standard which is based on currently attainable operating conditions.
, A standard which includes no allowance for losses, waste and inefficiencies. It represents the level of performance which is attainable under perfect operating conditions.
, A standard which is kept unchanged, to show the trend in costs.
, A standard which includes some allowance for losses, waste and inefficiencies. It represents the level of performance which is attainable under efficient operatingconditions.
]
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