Cost And Management Accountıng

Yanıt Açıklaması: Cost allocation is the process of assigning costs in a cost pool to the appropriate cost objects with the help of representatives.

Yanıt Açıklaması: The direct allocation method (often called the direct method) is the most widely used method of allocating support department costs. This method allocates each support department’s costs directly to the operating departments. In this method costs accumulated in service departments are allocated to the manufacturing departments depending on the services that each of the manufacturing department requires from each of the service department. In this method, firstly, we have to identify the service carried out by each of the service department. The correct answer is B.

Yanıt Açıklaması: JIB System  is not one of them

Yanıt Açıklaması: The daily usage of raw material is 350 kg. With the lead time taken into calculation (3 days), the total amount will be 1.050 kg (350x3). Safety stock is predetermined as 60 kg. So, when lead time and safety stock is considered 1.050 kg + 60 kg = 1.110 kg The company should reorder raw material when the material on hand decreases to 1.110 kg.

Yanıt Açıklaması: The ability of the enterprises to produce the products or services that constitute the main activities is called capacity. The capacity term is classified into four different headings: theoretical capacity, practical capacity, normal capacity, and expected capacity.

Yanıt Açıklaması: The correct answer is C. The premium-based system focuses on the target, and the employee is paid a basic wage and premium for his/her efficient work.

Yanıt Açıklaması: Cost allocation is the process of assigning costs in a cost pool to the appropriate cost objects with the help of representatives.

Yanıt Açıklaması: A cost pool is a collection of costs to be assigned to a set of cost objects. Many organizations already accumulate costs by the department within their organizational structure. Departments are often used as cost pools.

Yanıt Açıklaması: ıt should be  First-in-First-Out

Yanıt Açıklaması: It should be Direct material cost

Yanıt Açıklaması: Cost of the (a) raw material should be calculated as follows: Material cost + insurance + custom fee. 12.000 + 1.500 + 1.000 = 14.500 TL

Yanıt Açıklaması: Not Employment Insurance Premiums but Unemployment Insurance Premiums.

Yanıt Açıklaması: Economic and technological changes in recent years, many organizations, especially in the manufacturing sector, have faced significant changes in their business environment. These challenges can be summarized under three headings: • Globalization, • Automatization and Industry 4.0 revolution, • Technological developments.

Yanıt Açıklaması: ABC system classifies and ranks the inventories according to their respective costs or usages.

Yanıt Açıklaması: In VED analysis, companies classify their materials according to their “absence” costs.

Yanıt Açıklaması: Period expenses are recognized as an expense in the period in which they are consumed and transferred to the income statement.

Yanıt Açıklaması: There are three stages in the allocation of indirect costs. The first stage; direct costs are traced directly and indirect costs are allocated to operating and support departments. In addition, if they have period expenses they are also transferred to the income statement. The second stage; allocate service department costs to operating departments. The third stage; allocate operating department costs to products.

Yanıt Açıklaması: The correct answer to question is option A. Manufacturing (product) cost is grouped under three headings: • Direct raw material cost • Direct labor cost • Manufacturing (factory) overhead cost

Yanıt Açıklaması: The correct answer is C. The cost of goods sold is included in the income statement.

Yanıt Açıklaması: Cost accounting can be defined as a system in which financial data regarding business transactions are collected, classified, recorded, evaluated and reported for the following three purposes: • To find the cost of product or service, • Planning and controlling activities, • Decision-making process.