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    Chapter 1-2 COST Accounting AND Control BY DE LEON 2019 Chapter 1-2 COST Accounting AND Control BY DE LEON 2019

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    This document contains sample problems and solutions related to cost accounting concepts such as classification of costs, cost behavior, and cost allocation. Specifically, it discusses: 1) Classification of costs as direct/indirect, fixed/variable, and product/period costs through multiple choice questions and problems. 2) Calculation of cost per unit for products and determination of total variable and fixed manufacturing costs through analysis of cost data. 3) Allocation of overhead and other common costs between departments and identification of controllable and uncontrollable cost elements.

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    Chapter 1-2 COST Accounting AND Control BY DE LEON 2019 Chapter 1-2 COST Accounting AND Control BY DE LEON 2019

    Uploaded by

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    2K views10 pages
    This document contains sample problems and solutions related to cost accounting concepts such as classification of costs, cost behavior, and cost allocation. Specifically, it discusses: 1) Classification of costs as direct/indirect, fixed/variable, and product/period costs through multiple choice questions and problems. 2) Calculation of cost per unit for products and determination of total variable and fixed manufacturing costs through analysis of cost data. 3) Allocation of overhead and other common costs between departments and identification of controllable and uncontrollable cost elements.

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    2019

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    deleon

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    This document contains sample problems and solutions related to cost accounting concepts such as classification of costs, cost behavior, and cost allocation. Specifically, it discusses: 1) Classification of costs as direct/indirect, fixed/variable, and product/period costs through multiple choice questions and problems. 2) Calculation of cost per unit for products and determination of total variable and fixed manufacturing costs through analysis of cost data. 3) Allocation of overhead and other common costs between departments and identification of controllable and uncontrollable cost elements.

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    © All Rights Reserved
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    Download as pdf or txt
    2K views10 pages

    Chapter 1-2 COST Accounting AND Control BY DE LEON 2019 Chapter 1-2 COST Accounting AND Control BY DE LEON 2019

    Uploaded by

    something
    This document contains sample problems and solutions related to cost accounting concepts such as classification of costs, cost behavior, and cost allocation. Specifically, it discusses: 1) Classification of costs as direct/indirect, fixed/variable, and product/period costs through multiple choice questions and problems. 2) Calculation of cost per unit for products and determination of total variable and fixed manufacturing costs through analysis of cost data. 3) Allocation of overhead and other common costs between departments and identification of controllable and uncontrollable cost elements.

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    lOMoARcPSD|6003658

    Chapter 1-2 COST Accounting AND Control BY DE LEON


    2019
    Cost Accounting and Control (University of Perpetual Help System DALTA)

    StuDocu is not sponsored or endorsed by any college or university


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    Chapter 1
    TRUE/FALSE
    1. TRUE 6. FALSE
    2. TRUE 7. TRUE
    3. FALSE 8. FALSE
    4. TRUE 9. TRUE
    5. TRUE 10.TRUE

    MULTIPLE CHOICE
    1. B 6. D 11. D
    2. C 7. A 12. B
    3. A 8. A 13. B
    4. C 9. B 14. A
    5. C 10.D 15. D

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    Chapter 2 - Costs – Concepts and classification


    Problem 1- Ram Corporation
    1. Manufacturing overhead 6. Manufacturing overhead
    2. Manufacturing overhead 7. Direct materials
    3. Direct materials 8. Manufacturing overhead
    4. Direct labor 9. Manufacturing overhead
    5. Manufacturing overhead 10. Manufacturing overhead
    Problem 2
    1. Manufacturing 6. Manufacturing
    2. Selling 7. Administrative
    3. Manufacturing 8. Selling
    4. Selling 9. Administrative
    5. Administrative 10.Selling

    Problem 3-Rocco Product Cost Period Cost


    Direct mat. Direct labor Mfg. OH Selling Adm.
    1. DM 220,000
    2. Factory rent 50,000
    3. Direct labor 180,000
    4. Factory utilities 8,500
    5. Supervision 60,000
    6. Depreciation-FE 20,000
    7. Sales Commission 57,000
    8. Advertising 47,000
    9. Depreciation-OE 10,000
    10. Salary - pres. 250,000 

    1. TOTAL PRODUCT COST = 220,000 + 180,000 + 138,500


    2. TOTAL PERIOD COST = 57,000 + 307,000
    3. COST PER UNIT = 538,500/ 40,000 units = P 13,4625

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    Problem 4 – Bug Company


    1. Fixed Period 6. Variable Period
    2. Fixed Inventoriable 7. Variable Inventoriable
    3. Fixed Inventoriable 8. Fixed Inventoriable
    4. Variable Inventoriable 9. Fixed Period
    5. Fixed Inventoriable 10. Fixed Inventoriable

    Problem 5 – Mighty Muffler, Inc.


    a. P 50,000
    b. P 50,000
    c. P 60,000 = P120/muffler x 400 = P 48,000
    500
    d. P 120 x 800 = P 96,000
    e. P 50,000 + P 48,000 = P 98,000
    f. P 50,000 + P 96,000 = P 146,000
    g. P 50,000/ 400 = P 125
    h. P 50,000/500 = P 100
    I, P 50,000/800 = P 62.50
    j. P 48,000/400 = P 120
    k. P 60,000/500 = P 120
    l. P 96,000/800 = P 120
    m. P 125 + P 120 = P 245
    n. P 100 + P 120 = P 220
    o. P 62.50 + P 120 = P 182.50

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    Problem 6 – Marvin Desk


    1. DM 8. OH
    2. OH 9. OH
    3. OH 10. DL
    4. OH 11. OH
    5. DL 12. OH
    6. OH 13, OH
    7. OH 14. OH 15. DM

    Problem 7 – Mother Goose Company


    1. Prime costs - 530,000
    2. Conversion cost - 575,000
    3 Inventoriable cost - 860,000
    4. Total period costs - 305,000

    Problem 8 –
    a. c - fixed (total amount is constant)
    b. a – variable (4,480/3,200 = 1.40; 6,300/4,500 = 1.40 per unit is
    constant)
    c. d - mixed ( 3,950/3,200 = 12.34; 5,250/4,500 = 1.16) total amount and
    amount per unit varies in relation to units sold)

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    Problem 9 - Blanche Corporation


    1. Direct materials used P 32.00
    Direct labor 20.00
    Variable manufacturing overhead 15.00
    Variable marketing 3.00
    Total variable cost per unit 70.00
    X No. of units produced and sold 12,000
    Total variable costs per month P 840,000

    2. Fixed manufacturing overhead P 6.00


    Fixed marketing costs 4.00
    Total fixed cost per unit 10.00
    X No. of units produced and sold 12,000
    Total fixed costs per month P 120,000

    Problem 10
    1. Direct materials P 60.00
    Direct labor 30.00
    Variable manufacturing overhead 9.00
    Total variable manufacturing cost per unit P 99.00

    2. Total variable manufacturing cost per unit P 99.00


    Variable marketing and administrative 6.00
    Total variable costs per unit 105.00

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    3. Total variable manufacturing cost per unit P 99.00


    Fixed manufacturing overhead (30,000/1,200) 25.00
    Full manufacturing cost per unit 124.00

    4. Full manufacturing cost per unit 124.00


    Variable marketing and administrative 6.00
    Fixed marketing and administrative 20.00
    Full cost to make and sell per unit 150.00

    Problem 11 – Johnson Corporation


    1. Variable cost per machine hour = 35,600 – 20,000
    4,000 - 2,000
    = 7.80 per machine hour

    2. 4,000 hours 2000 hours


    Total electricity expense 35,600 20,000
    Less: Variable costs
    (4,000 x 7.80) 31,200
    (2000 x 7.80) 15,600
    Fixed cost 4,400 4,400

    3. Fixed cost 4,400


    Variable cost (4,500 x 7.50) 35,100
    Total manufacturing costs 39,500

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    Problem 12 – Valdez Motors Co.


    1. Variable cost per machine hour = 5,475 – 3,975
    210 - 145
    = 23.08 per machine hour

    2. 210 hours 145 hours


    Total overhead costs 5,475 3,975
    Less: Variable costs
    ( 210 x 23.08) 4,847
    ( 145 x 23.08) 3,347
    Fixed cost 628 628

    Problem 13 – Marco Company


    Department A Department B
    1. Direct materials P 400,000 P 700,000
    Direct labor 350,000 600,000
    Factory supplies 10,000 24,000
    Direct variable costs P 760,000 P 1,324,000

    2. Controllable direct fixed costs


    Supervisory salaries P 45,000 P 55,000
    3. Uncontrollable direct fixed costs:
    Depreciation – machinery and
    Equipment           P 100,000  P 180,000 

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    4. Controllable direct fixed cost P 45,000 P 55,000


    Uncontrollable direct fixed cost 100,000 180,000
    Total direct fixed cost P 145,000 P 235,000

    5. Allocated costs from headquarters P 120,000 P 180,000


    Allocated repairs & maintenance 40,000 80,000
    Allocated factory rent – bldg. 60,000 140,000
    Allocated plant executive’s salaries 140,000 210,000
    Total indirect costs P 360,000 P 610,000

    6. Allocated costs from headquarters P 120,000 P 180,000


    Allocated factory rent – bldg. 60,000 140,000
    Allocated plant executive’s salaries 140,000 210,000
    Depreciation- mach. & equipment 100,000 180,000
    Total unavoidable costs P 420,000 P 710,000

    True/False Questions
    1. False 6. True 11. False 16. True
    2. False 7. False 12. False 17. False
    3. True 8. True 13. True 18. True
    4. False 9. False 14. False 19. False
    5. False 10. True 15. False 20. True

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    Multiple choice
    1. B 11. C 21. A
    2. C 12. D 22. C
    3. B 13. C 23. A
    4. C 14. B 24. C
    5. D 15. A 25. D
    6. A 16. B 26. B
    7. D 17. B 27. A
    8. D 18. A 28. B
    9. B 19. D 29. C
    10. C 20. B 30. B

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