管理会计：Process costing unit Test and Answer.docx

一、单项选择题1、Information relating to two processes (F and G) was as follows: ProcessNormalloss as % of Inputinput litersF865,000G537,500output litres58,90035,700For each process, was there an abnormal loss or an abnormal gain?A. Process FAbnormal gainProcess FAbnormal lossProcess FAbnormal gainProcess FAbnormal lossProcess GAbnormal lossProcess GAbnormal gainProcess GAbnormal gainProcess GAbnormal loss正确答案：B解析：Process F:expected output = 0.92 x 65,000 = 59,800actual output = 58,900abnormal lossProcess G:expected output = 0.95 x 37,500 = 35,625actual output = 35,700/. abnormal gain2、 A cleaning fluid is produced by a series of process. The following information relates to the final process:Opening WIP2000litresClosing WIP1500litresInput42300litresTransfer to finished goods stock40100litresNormal loss400litresThe abnormal loss is:A.1300litresB.1800litresC.2300litresD.800 litres正确答案：C解析：Opening WIP+ Input- Transfer to finished goods stock-Closing WIPActual loss2,000litres42,300litres40,100litres l,500litres 2,700litres-Normal loss400litresThen, Abnormal loss2,300litres3、A company uses process costing to value its output and all materials are input at the start of the process.The following information relates to the process for one month:Input3,000 unitsOpening stock400 unitsLosses10% of input is expected to be lostClosing stock200 unitsHow many good units were output from the process if actual losses were 400 units?A.2,900 unitsB.3,200 unitsC.2,800 unitsD.3,000 units正确答案：C解析: Opening stock+lnput=Closing stock+Finished output+Actual lossThen, Finished output=400+3,000-200-400=2/800 units4、In a process account, how are abnormal losses valued?A.At their scrap valueB.The same as normal lossesC.At the cost of raw materialsD.The same as good production正确答案：D解析: Abnormal losses are valued at the same unit rate as good production, so that their occurrence does not affect the cost of good production.5> Perth operates a process costing system. The process is expected to lose 25% of input and this can be sold for $8 per kg.Inputs for the month were:Direct materials 3,500 kg at a total cost of $52,500Direct labour$9,625 for the periodThere is no opening or closing work in progress in the period. Actual output was 2,800 kg.What is the valuation of the output?A.$58,800B.$49,700C.$56,525D.$44,100正确答案：A解析：Cost per unit=(52,500+9/625-3,500*25%*8)/(3/500*75%)=$21Valuation of output=$21*2,800二$58,8006、A company uses process costing to value output. During the last month the following information was recorded:Output:2,800 kg valued at $7.50/kgNormal loss: 300 kg which has a scrap value of $3/kgActual loss: 200 kgWhat was the value of the input?A.$21,900B.$22,650C.$21,150D.$21,600正确答案：C解析：Cost per unit=(lnput value-300*3)/(2,800+200-300)=$7.5Input value=$21,1507、Which of the following statements about process losses are correct?(i) Units of normal loss should be valued at full cost per unit(ii) Units of abnormal loss should be valued at their scrap valueA.Both of themB.(ii) onlyC.only0.Neither of them正确答案：D解析： Statement (i) is incorrect. Units of normal loss are valued at their scrap value (which may be nil).Statement (ii) is incorrect. Units of abnormal loss are valued at the same rate as good units.8、A company which operates a process costing system had work in progress at the start of last month of 300 units (valued at $1,710) which were 60% complete in respect of all costs.Last month a total of 2,000 units were completed and transferred to the finished goods warehouse. The cost per equivalent unit for costs arising last month was $10. The company uses the FIFO method of cost allocation.What was the total value of the 2,000 units transferred to the finished goods warehouse last month?A.$20,510B.$21,710C.$20,000D.$19,910正确答案：D解析：$1,7101,200(2,000 - 300) x 10= 17,00019,910Opening WIPCompletion of opening WIP (300 x 0.40 x 10)Units started and completed in the monthTotal value (2,000 units) 9、Which of the following best describes the term' equivalent units' when using the FIFO method?A.The number of effective whole units worked on during a period allowing for the levels of completion of opening and closing stock units.B.The total number of whole units started during a period ignoring the opening stock units as these were started in the previous period.C.The number of whole units worked on during a period ignoring the levels on completion of opening and closing stock units.D.The number of units worked on during a period including the opening and closing stock units.正确答案：A10> The following information relates to questions 10 and 11:A company operates a process costing system using the FIFO method of valuation. No losses occur in the process. All materials are input at the commencement of the process. Conversion costs are incurred evenly through the process.The following data relate to last period:Opening work in progressTotal number of units completed Closing work in progressUnits 2,000 14,000 3,000 $Degree of completion60%30%Costs arising:51,000193,170MaterialsConversionWhat was the total number of units input during last period?A.17,000B.12,000C.13,000D.15,000正确答案：D解析：Input = (14,000+ 3,000 - 2,000) = 15,000 units11> What was the value of the closing work in progress for last period?A.$21,690B.$21,330C.$22,890D.$22,530正确答案：C解析： Material cost per unit = 51,000 + (12,000 + 3,000) = $3.40Conversion:Cost per equivalent unit = 193,170 . (12,000 + 0.40 x 2,000 + 0.30 x 3,000)= 193,170 4-13,700= $14.10Closing stock valuation = (3,000 x 3.40) + (900 x 14.1) = $22,89012> The following information relates to questions 12 and 13. A company makes a product in two processes. The following data is available for the latest periodjor process 1. Opening work in progress of 200 units was valued as follows.Material$2,400Labour$1,200Overhead$400No losses occur in the process.Units added and costs incurred during the period:Material$6,000 (500 units)Labour$3,350Overhead$1,490Closing work in progress of 100 units had reached the following degrees of completion:Material100%Labour50%Overhead30%The company uses the weighted average method of inventory valuation.How many equivalent units are used when calculating the cost per unit in relation to overhead?A.500B.630C.600D.700正确答案：B解析: Output to process 2= 500 units input + opening WIP 200 units - closing WIP 100 units=600 units Equivalent units of overhead=600*100%+100*30%=630 units 13> What is the value of the units transferred to process 2?A.$13,200B.$14,840C.$15,400D.$7,200正确答案：A解析：Equivalent units of material=600*100%+100*100%=700 unitsCost per equivalent units of material=(2,400+6,000)/700二$12Equivalent units of labour=600*100%+100*50%=650 unitsCost per equivalent units of labour=(l,200+3/550)/650=$7Equivalent units of overhead=600*100%+100*30%=630 unitsCost per equivalent units of overhead=(400+l,490)/630=$3The value of the units transferred to process 2=600*(12+7+3)=$13,200 14> Ally Co has the following information available on Process 9:Process 9 account $ $ Input 10,000kg59,150Finished goods8,000kg52,000Closing WIP2,000kg7,150 59,15059,150How many equivalent units were there for closing WIP?A.2,000B.1,100C.1,200D.1,000正确答案：B解析：Cost per unit=Cost of finished goods/Number of kg=52,000/8/000=$6.50If 2,000kg (Closing WIP figure) were fully complete total cost would be:2,000*$6.50=$13,000Actual cost of closing WIP二$7,150Degree of completion=77150/13,000=55%Therefore equivalent units=55%*2,000=l,100kg15> 340 litres of chemical X were produced in a period. There is a normal loss of 10% and an abnormal loss of 5% of the material input into the process.How many litres of material were input into the process during the period?A.400 litresB.380 litresC.377 litresD.358 litres正确答案：A解析： The number of litres of material input into the process during the period were 400 litres.340 litres = 85% of material inputThen, material input = 400 litres