管理会计：Accounting for materials unit test and Answer.docx

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1、一、单项选择题1、 The following relate to procedures for materials:1. Check the goods received noteRaise a stores requisition note2. Update the stores ledger account for the purchaseRaise a purchase orderWhat would be the correct order of the above when in the process of purchasing and using materials?A. 4,

2、 2, 1, 34, 1, 3, 2B. 1, 4, 3, 22, 1, 3, 4正确答案：BWhich of the following statements is correct?A. A stores requisition will only detail the type of product required by a customer.B. The term lead time is best used to describe the time between receiving an order and paying for it.C.A stores ledger accou

3、nt will be updated from a goods received note only.D. To make an issue from stores authorisation should be required.正确答案：D解析：The authorisation should be obtained if the stores function is to be properly maintained.2、 Which of the following is correct with regard to stocks?(i) Stock-outs arise when t

4、oo little stock is held.(ii) Safety stocks are the level of units maintained in case there is unexpected demand.(iii) A reorder level can be established by looking at the maximum usage and the maximum lead-time.A. (i) and (iii) only(i) and (ii) onlyB. (i), (ii) and (iii)(ii) and (iii) only正确答案：C4、A

5、domestic appliance retailer maintains a central warehouse from which the outlets are supplied. The following information is available for part SF525.Average sales75 per dayMaximum sales95 per dayMinimum sales50 per dayLead time12-18 dayRe-order quantity1,750Based on the data above, at which level of

6、 stocks would a replenishment order be issued?A. 1, 710 units600 unitsC.1,750 unitsD. 1, 125 units正确答案：A解析： Re-order level =Maximum supply lead timeXMaximum usage=95 X18=1,710 units5、A domestic appliance retailer maintains a central warehouse from which the outlets are supplied. The following inform

7、ation is available for part SF525.Average sales75 per dayMaximum sales95 per dayMinimum sales50 per dayLead time12-18 dayRe-order quantity1,750Based on the data above, what is the maximum stock level?A. 2, 860 unitsB.1,750 unitsB. 2, 900 units2, 275 units正确答案：A解析： Maximum stock level = Re-order leve

8、l + Re-order quantity-(Minimum usage X minimum lead time (days )=1, 710+1, 750-(50 X 12)=2,860 units6、 Moura uses the economic order quantity formula (EOQ) to establish its optimal reorder quantity for its single raw material. The following data relates to the stock costs:Purchase price: $15 per ite

9、mCarriage costs: $50 per orderOrdering costs: $5 per orderStorage costs: 10% of purchase price plus $0.20 per unit per annumAnnual demand is 4, 000 units.What is the EOQ to the nearest whole unit?A. 153 units485 unitsB. 509 unitsD.170 units正确答案：C7、A company determines its order quantity for a raw ma

10、terial by using the Economic Order Quantity (EOQ) model.What would be the effects on the EOQ and the total annual holding cost of a decreaseLower正确答案：CLower正确答案：Cin the cost of ordering a batch of raw material?A. EOQTotal annual holding costHigherLowerB. EOQTotal annual holding costHigherHigherC. EO

11、QTotal annual holding costLowerLowerD. EOQTotal annual holding costHigher8、When considering the economic batch quantity model what does (1 - D/R) represent?A. TheB. TheC. TheD. Theraterateraterateatatatatwhich which which whichproduction increases, stock decreases, stock increases.production decreas

12、es.正确答案：C9、What is the economic batch quantity used to establish?Optimalreorder levelA. cumulative production quantityreorder quantityD.stock level for production正确答案：B10 Where on the graph would you read off the value for the economic order quantity?At point BB. At point DAt point A正确答案：A角星析： The E

13、OQ is found where the holding costs equal the ordering costs. You need to read the value of units on the x axis of the graph at point C.11、 G Co makes the following purchases and sales.1 JanuaryPurchases 4,000 units for $10,00031 January15 February-28 February14 MarchAt 31 March which31 January15 Fe

14、bruary-28 February14 MarchAt 31 March whichPurchases 1,000 units for $2,000Sales 3,000 units for $13,000Purchases 1,500 units for $3,750Sales 500 units for $1,200correct?A. $7, 500B. $6, 500C. $8, 000D. $7, 000正确答案:correct?E. $7, 500F. $6, 500G. $8, 000H. $7, 000正确答案:of the following closing invento

15、ry valuations using FIFO isI)解析：Units$/unitValue($)Purchase1/14, 0002.5010, 00031/11,0002. 002,0005, 00012,000Sales15/2(3, 000)2. 50(7, 500)2, 0004, 500Purchase28/21,5002.503,7503, 5008, 250Sales14/3(500)2. 50(13, 0007, 00012、 G Comakes thefollowing purchases andsales.,250)1 January31 January15 Febr

16、uary28 February14 MarchPurchases 4,000 units for $10,000Purchases 1,000 units for $2,000Sales 3,000 units for $13,000Purchases 1,500 units for $3,750 Sales 500 units for $1,200At 31 March which of the following closing inventory valuations using LIFO is correct?A. $7, 000$8, 000B. $6, 500$7, 500正确答案

17、：DSales 14/3(500)2.50(1,250)解析：Units$/unitValue ($)Purchase1/14, 0002. 5010, 00031/11,0002.002,0005, 00012, 000Sales15/2(1,000)2.00(2, 000)(2, 000)2. 50(5, 000)2,0005,000Purchase28/21, 5002. 503,7503, 5008, 7503, 0007, 500A wholesaler had opening inventory of 300 units of product Emm valued at $25 p

18、er unit at the beginning of January. The following receipts and sales were recorded during January.Date2 Jan 12 Jan 21 Jan 29 JanReceipts400ssues25020075The purchase cost of receipts was $25. 75 per unit. Using a weighted average method of valuation, calculate the value of closing inventory at the e

19、nd of January.A. $11,550$9, 550B. $4, 492$4, 192正确答案：CA firm has a high level of stock turnover and uses the FIFO (first in first out) issue pricing system. In a period of rising purchase prices, the closing stock valuation is :A.the average of all goods purchased in the periodB. based on the prices

20、 of the first items receivedC.close to current purchase pricesD. much lower than current purchase prices正确答案：C解析： FIFO means that the value of closing stock reflects the most recent prices paid.15 Which of the following functions are fulfilled by a goods received note (GRN)?(i) Provides information

21、to update the inventory records on receipt of goods (ii) Provides information to check the quantity on the supplier，s invoice (iii) Provides information to check the price on the suppliers invoice(ii) and (iii) onlyA. (i) and (iii) only(i) and (ii) onlyB. (i) only正确答案：C加军析： Among other things, the GRN is used to update the inventory records and to check that the quantity invoiced by the supplier was actually received. The GRN does not usually contain price information.