Final Sınavı - Cost And Management Accountıng

Soru 1:

Which one of the following is the name given to a costing system that broadly averages or spreads the cost of resources uniformly to cost objects?

A) Normal costing B) Variable costing C) Peanut butter costing D) Direct costing E) Standard costing

Soru 2:

Which is one of the advantages of CVP analysis?

A) The errors in the analysis can be caused due to market conditions. B) Most of the fixed cost factors have the feature of semi-variable cost, which can be ignored in the analysis. C) It is assumed that the total revenue and total cost are linear. D) A great number of production is made. E) It determines the lowest sale price of production.

Soru 3:

......................... an average price is calculated for a period by the relation between quantities and costs.The company calculates just one average price for the whole period. Which of the following should come to the dotted place according to the whole sentence?

A) Specified Price B) Replacement Cost C) Standard Cost D) Weighted Average Cost E) Highest-in-First-Out

Soru 4:

"Production businesses can get subcontractors to carry on some services which are out of their production field." Which of the special decisions based on the information of cost accounting below is the statement above relevant to?

A) The Use of Cost Information in the Decisions of Outsourcing B) The Use of Cost Information in Investment Decisions C) The Use of Cost Information in the Decision of Ceasing or Breakdown of a Product D) The Use of Cost Information While Accepting a Special Sales Price E) The Use of Cost Information in Determining the Appropriate Product Mix

Soru 5:

"If the standards are set solely or primarily by the management only, they are called the .............. standards." Which of the following correctly completes the blank in the above sentence?

A) Authoritative B) Participative C) Kaizen D) Fixed E) Ideal

Soru 6:

Which of the following provides an important input for the preparation of both pro forma balance sheet and cost of goods sold budget?

A) Ending inventories budget B) Manufacturing overhead budget C) Direct materials purchase budget D) Direct materials purchase budget E) Production budget

Soru 7:

Which one of the following is the difference between the unit sales price and the unit variable cost?

A) Sunk cost B) Cost-volume-profit analysis C) Contribution D) Net profit E) Differential cost

Soru 8:

Budget is a quantitative expression of the managements’ plans for a specific period of time, either in physical or financial terms or both. Master budgeting is the process of evaluating the feasibility of a project, using some indicators such as rate of return, the time needed to pay back, etc. Capital budgeting is the combination of operational and financial budgets covering all aspects of company’s operations for a period of time. The master budget is made of two separate series of schedules and budgets; operating budgets and financial budgets. Which of the statements above aboout budgets are correct?

A) I and II B) II and III C) I and IV D) I, III and IV E) II, III and IV

Soru 9:

These decisions are special decisions that will affect the profitability of businesses in future periods. This type of decisions are often unacceptable and can not be taken as a reference. These decisions can be taken by top level managers. Good examples of these decisions are purchasing additional machinery to increase the capacity of the business or changing the location of the business. Which type of decisions are defined above?

A) Programmed (Routine) Decisions B) Non-programmed (Nonroutine) Decisions C) Strategic Decisions D) Managerial Decisions E) Operational Decisions

Soru 10:

Which of the following is the comprehensive set of schedules and budgets that covers all phases of the company’s operations and describes the company’s overall financial plans for the following period.

A) Short-term budget B) Operating budget C) Long-term budget D) Financial budget E) Master budget

Soru 11:

"Cost-Volume-Profit analysis ..........................." Which of the following best completes the statement above?

A) is the additional cost incurred when making or producing one additional unit B) is selling price(s) of the product(s) ordered to achieve targeted profit in a trade business C) is the amount of sales and sales volume needed to achieve a profit within a company D) is the study of the effects on future profit of changes in fixed cost, variable cost, sales price, quantity as a whole. E) make assumptions about the future planning of the activities owing to the problems experienced

Soru 12:

With the kaizen budgets, expectations on continuous improvement are incorporated with the budgeting process. Kaizen budgeting approach is much more effective when combined with activity-based budgeting technique. Kaizen budgeting should not be confused with traditional cost-cutting methods, in which the level of productive activities is decreased in cases of diminishing profits, decreasing sales, etc. Kaizen budgeting is related to performing the same activities with higher efficiency and higher quality. Managers may apply kaizen in both internal and external improvements. Which of the statement/s above about the kaizen budgeting is/are correct?

A) Only II B) I and II C) I, III and IV D) II, III, IV and V E) I, II, III, IV and V

Soru 13:

"Equivalent unit....................................." Which of the following is true about equivalent unit?

A) covers direct labor and manufacturing overhead costs to incur concurrently with each other B) is calculated by accumulating the shares that the product gets from the cost of each process C) is defined as the combination of subsequent processes to analyze the cost of each process separately. D) is not a possible way to calculate the product cost if all sales figures are not available E) is a derived measure of output that reflects the number of completed units that could be produced with the same quantity of inpu

Soru 14:

The expected revenue of an alternative is 14.000 TL and the expected expenditure is 11.000 TL. The opportunity cost is 1.200 TL. What is the net economic earning of this alternative?

A) 1.000 TL B) 1.200 TL C) 1.600 TL D) 1.800 TL E) 2.200 TL

Soru 15:

Effective Efficient Morally Good Practicable Made on Time Which of the above are qualities of a good decision?

A) I, II, III and IV B) I, II, IV and V C) II, III, IV and V D) I, II, III and V E) I, II, III, IV and V

Soru 16:

"Product-cost cross-subsidization.............................." Which of the following best completes the statement above?

A) is used to compute the number of equivalent units to calculate the work needed to complete the beginning work-in-process B) is a term used to exclude sales from cost calculations as they are are already added to the previous period. C) is a term used to estimate the costs with the relevant period-specific production volumes and costs per equivalent unit D) is the term used to define the situation in which over-costing in one or more products results in under-costing in other products. E) is the term incurred to complete the beginning work-in-process inventory added to the cost carried from the previous period

Soru 17:

Which of the following is not a labor cost related to legal or/and contractual enforcement or discretionary reasons?

A) Overtime Pay B) Night/Shift Premium C) Holiday Pay D) Social Security Premiums E) Allowences

Soru 18:

As one of the essential means in decision making, all or some of the advantages of CVP Analysis can be used while decision making in businesses.The advantages of CVP analysis for business managers is too much. Which one is not one of them ?

A) It determines the lowest amount of production that will prevent the business to make a loss. B) It determines the unit cost and the working capital needed in various amounts of production C) It evaluates the implemented managerial policies by comparing the planned and the actual breakeven point D) It helps to choose the most profitable production types and helps to generate product mix E) It determines the highest sale price of production

Soru 19:

These are the budgets, in which the predetermined sales levels are used in preparing the budgets. This type of budget remains unchanged irrespective of the actual level of activity. This kind of budget does not consider a possible difference between the actual and budgeted production volumes. Which kind of budget is defined above?

A) Financial budgets B) Functional budgets C) Flexible budgets D) Static budgets E) Master budgets

Soru 20:

In which method product cost is calculated at year-end by using the cost data that incurred during the year?

A) Standart costing method B) Normal costing method C) Direct costing method D) Actual costing method E) Variable costing method