Which of the following files is used to collect cost data in the production cycle?

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Chapter 14

Study Guide

Multiple Choice

This activity contains 12 questions.

	Which of the following is NOT an objective of cost accounting?   provide information for planning provide information for evaluating performance collect and process information used to calculate inventory collect and process information used to calculate cost of goods sold None of the above.

	Cost accounting plays what role in the production cycle?   Provides information about product pricing Assists managers determine how many items produced will be sold Conducts environmental scans to determine the strength of an entity's competition All of the above. None of the above.

	Which of the following documents authorize the removal of raw materials inventory from the storeroom to a factory location where it will be put into production?   Production order Materials Requisition Move ticket Picking ticket None of the above.

	Which of the following would NOT be included in manufacturing overhead?   Quality control costs Power Rent Property taxes Insurance All of the above would be included in manufacturing overhead.

	Job order costing would be most appropriate when   a product is homogeneous. it is mass-produced. the products are discretely identifiable. Both 1 and 2. All of the above.

	Which of the following threats is related the production operation activity in the production cycle?   Poor product design resulting in excess costs Inaccurate cost data include direct labor costs Poor performance None of the above.

	Which of the following controls and/or devices are used to safeguard inventories?   RFID tags Access controls Bar code scanners None of the above. All of the above.

	Threats in the production cycle do not include:   inaccurate data. poor performance. theft of fixed assets. disruption of operations. All of the above.

	Which of the following is (are) a valid statement about ABC systems?   ABC systems are more efficient than the traditional method in allocating direct material costs to products. ABC systems are more efficient than the traditional method in allocating direct labor costs to products. Allocate overhead costs through the use of multiple cost drivers. None of the above.

	Quality control costs do NOT include:   prevention costs. inspection costs. internal failure costs. external failure costs. opportunity costs.

	Which of the following controls best addresses the threat of inaccurate cost data?   Analysis of warranty and repair costs Documentation of all inventory movement Production planning systems Training Source data automation

	Costs tracked in the production cycle include   raw materials. indirect labor. machinery and equipment. direct labor. All of the above.

What role does the AIS play in the production cycle?

Which of the following is not a known threat to the production cycle activities?

Which system is most likely to be used by a company that mass produces large batches?

What are the major threats in the production cycle?