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1、1CH02COST MANAGEMENT CONCEPTS AND COST BEHAVIORTRUE/FALSE1. There is no single definition of cost.a. Trueb. False2. The role of the management accountant is to tailor the cost calculation to fit the current decision situation.a. Trueb. False3. A cost that is useful for one decision may not be useful
2、 information for another decision.a. Trueb. False4. In most organizations, managing nonmanufacturing costs as well as manufacturing costs is important for financial success.a. Trueb. False5. The cost of a customized machine only used in the production of a single product would be classified as a dir
3、ect cost.a. Trueb. False6. The wages of a plant supervisor would be classified as a period cost.a. Trueb. False7. The classification of product and period costs is particularly valuable in management accounting.a. Trueb. False8. For external reporting, generally accepted accounting principles requir
4、e that costs be classified as either flexible or capacity-related costs.a. Trueb. False9. Knowing whether a cost is a period or a product cost helps to estimate total cost at a new level of activity.a. Trueb. False210. Flexible costs are always direct costs.a. Trueb. False11. Capacity-related costs
5、vary with the level of production or sales volume.a. Trueb. False12. Currently, most personnel costs are classified as capacity-related costs.a. Trueb. False13. Some capacity-related costs might be classified as direct manufacturing costs.a. Trueb. False14. Capacity-related costs depend on the resou
6、rces used, not the resources acquired.a. Trueb. False15. Break-even point is NOT an important concept since the goal of business is to make a profit.a. Trueb. False16. To perform cost-volume-profit analysis, a company must be able to separate costs into capacity-related and flexible components.a. Tr
7、ueb. False17. Cost-volume-profit analysis may be used for single-product and multiproduct analysis.a. Trueb. False18. Selling price per unit is $30, flexible cost per unit is $15, and capacity-related cost per unit is $10. When this company operates above the break-even point, the sale of one more u
8、nit will increase net income by $5. a. Trueb. False19. A company with sales of $100,000, flexible costs of $70,000, and capacity-related costs of $50,000 will reach its break-even point if sales are increased by $20,000.a. Trueb. False320. In multiproduct situations when the sales mix shifts toward
9、the product with the lowest contribution margin, the break-even quantity will decrease.a. Trueb. False21. The opportunity cost of a resource is zero if there is excess capacity of that resource.a. Trueb. False22. When a firm maximizes profits it will simultaneously minimize opportunity costs.a. True
10、b. False23. Even when the only constraint limiting production is machine time, a company should be most concerned with maximizing contribution margin per unit.a. Trueb. False24. The time over which a decision maker can adjust capacity is referred to as the short run.a. Trueb. False25. For general cu
11、stomers, the price charged for a product must cover its long-run cost to the organization.a. Trueb. False26. In recent years, capacity-related costs have increased as a proportion of total manufacturing costs.a. Trueb. False27. Machine setup costs are usually classified as a business-sustaining acti
12、vity.a. Trueb. False28. The benefits of classifying activities using the broader framework of unit-related, batch-related, product-sustaining, customer-sustaining, and business-sustaining activities are there are generally more costs that are directly traceable to cost objects.a. Trueb. False29. Pro
13、duct life-cycle costing helps organizations decide whether a new product should be launched.a. Trueb. False4MULTIPLE CHOICE30. An example of a cost object is:a. a productb. a customerc. a departmentd. All of the above are correct.31. Manufacturing costs include: a. machinery used inside of the facto
14、ryb. research and development costsc. costs of dealing with customers after the saled. general and administrative costs32. Manufacturing costs include all of the following EXCEPT:a. costs incurred inside the factoryb. both direct and indirect costsc. both flexible and capacity-related costsd. both p
15、roduct and period costs33. Nonmanufacturing costs:a. include only capacity-related costsb. seldom influence financial success or failurec. include the cost of selling, distribution, and after-sales costs for customersd. are considered by GAAP to be an element of product costs34. Product costs:a. inc
16、lude administrative and marketing costsb. are particularly useful in financial accountingc. are expensed in the accounting period manufacturedd. are also referred to as nonmanufacturing costs35. For external reporting:a. costs are classified as either product or period costsb. costs reflect current valuesc. there are no prescribed rules since no one is exactly sure how the investors and creditors will use these numbersd. expenses include amounts that reflect current and future ben
