Questions from Cost Accounting

Q: What are the five types of conditions to consider when evaluating a

What are the five types of conditions to consider when evaluating a strategy map?

Q: What problems might arise in estimating the degree of completion of semiconductor

What problems might arise in estimating the degree of completion of semiconductor chips in a semiconductor plant?

Q: Name the five steps in process costing when equivalent units are computed

Name the five steps in process costing when equivalent units are computed.

Q: Describe the distinctive characteristic of FIFO computations in assigning costs to units

Describe the distinctive characteristic of FIFO computations in assigning costs to units completed and to units in ending work in process.

Q: “In job costing, the costs of normal spoilage that occur

“In job costing, the costs of normal spoilage that occur while a specific job is being done are charged to the specific job.” Do you agree? Explain.

Q: “Abnormal rework costs should be charged to a loss account,

“Abnormal rework costs should be charged to a loss account, not to manufacturing overhead.” Do you agree? Explain.

Q: How do managers use information about scrap?

How do managers use information about scrap?

Q: Distinguish among spoilage, rework, and scrap.

Distinguish among spoilage, rework, and scrap.

Q: “Total input includes abnormal as well as normal spoilage and is

“Total input includes abnormal as well as normal spoilage and is, therefore, inappropriate as a basis for computing normal spoilage.” Do you agree? Explain.

Q: “When evaluating alternative ways to improve quality, managers need to

“When evaluating alternative ways to improve quality, managers need to consider the fully allocated costs of quality.” Do you agree? Explain.