Question : 71.Which of the following costs would be most fairly allocated : 1257149

 

 

71.Which of the following costs would be most fairly allocated using a volume based cost driver?   

A. Inventory holding costs

 

B. Property taxes

 

C. Set up costs for product batches

 

D. Indirect labor costs

 

 

72.Hough Company manufactures a wide variety of products. A high proportion of its indirect costs are batch-level costs, such as acquiring materials, moving materials within the factory, and setting up machines. Hough uses direct labor hours to assign indirect costs to all of its products. How is this use of a traditional product costing system likely to affect the costs of Hough’s high-volume and low-volume products?   

A. All of its products are undercosted.

 

B. Its low-volume products are overcosted.

 

C. All of its products are overcosted.

 

D. Its high-volume products are overcosted.

 

 

73.All of the following are categories of quality costs except:   

A. prevention costs.

 

B. design costs.

 

C. internal failure costs.

 

D. appraisal costs.

 

 

74.Voluntary costs refer to:   

A. prevention and appraisal costs.

 

B. prevention and internal failure costs.

 

C. appraisal and external failure costs.

 

D. internal failure costs and external failure costs.

 

 

75.In the below graph which shows the relationship among components of quality cost, Line “B” depicts:     

A. total quality costs.

 

B. external failure quality cost.

 

C. voluntary quality costs.

 

D. internal failure quality costs.

 

 

76.In the below graph which shows the relationship among components of quality cost, Line “C” depicts:     

A. failure costs.

 

B. internal quality cost.

 

C. voluntary quality failure costs.

 

D. prevention costs.

 

 

77.All of the following are external failure costs except:   

A. warranty repairs and replacement.

 

B. reliability testing

 

C. customer relations.

 

D. restocking and packaging.

 

 

78.Which of the following is an example of a prevention cost?   

A. Downtime

 

B. Inventory inspection

 

C. Product design

 

D. Repair and rework

 

 

79.Which of the following statements is incorrect?   

A. An activity-based costing system uses more cause-and-effect relationships in tracing costs than does a traditional cost allocation system.

 

B. An activity-based costing system first assigns or traces costs to the departments in which products are made.

 

C. The hierarchical categories into which activities are grouped are unit-level, batch-level, product-level and facility-level activities.

 

D. The total amount of unit-level costs changes in proportion to the number of units of product made.

 

 

80.Which of the following costs is the result of a facility-level activity?   

A. Utility costs related to heating and lighting a manufacturing facility

 

B. The cost of landscaping the grounds for the manufacturing unit

 

C. Costs associated with trademarks

 

D. Both utility costs related to heating and lighting a manufacturing facility and the cost of landscaping the grounds for the manufacturing unit are correct

 

 

 

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