Choose the correct answer:

Question 1 Costs _____ are the costs required to process direct materials into finished goods.

• Of conversation
• relevant
• cousins
• direct

Question 2 Costs that management cannot associate (economically) with a product or service are known as

• Of conversation
• indirect
• cousins
• direct

Question 3 The manufacture of paint pans is typical of the following production process

• orders
• activity-based (ABC)
• unitary
• procedural

Question 4 If each production plant of a certain company had a separate meter to measure the consumption and the monthly cost of electrical energy, then the cost of electricity that would be assigned to the production should be classified as

• direct and variable
• direct and fixed
• indirect and variable
• indirect and fixed

Question 5 To determine the cost per unit produced under a procedural cost system, the following element is necessary

• work order
• direct materials
• exercise
• equivalent units

Question 6 Accounting records indicate certain balances in inventory accounts. As of 1/1/12: Materials inventory, $12,000; Work in process inventory, $38,000 and Finished goods inventory, $5,000. As of 12/31/12: Materials Inventory, $25,000; Work in process inventory, $23,000 and Finished goods inventory, $8,000. In addition, conversion costs were $484,000 and raw material purchases $120,000 for the year 2012. Taking these data into consideration, the cost of goods manufactured for 2012 was:

• $606,000
• $609,000
• $591,000
• $603,000

Question 7 Accounting records indicate certain balances in inventory accounts. As of 1/1/12: Materials inventory, $12,000; Work in process inventory, $38,000 and Finished goods inventory, $5,000. As of 12/31/12: Materials Inventory, $25,000; Work in process inventory, $23,000 and Finished goods inventory, $8,000. Additionally, conversion costs were $484,000 and raw material purchases were $120,000 for the year 2012. Taking these data into consideration, the cost of goods sold for 2012 was:

• $609,000
• $606,000
• $591,000
• $603,000

Question 8 The ABC Corp. adds the materials at the beginning of its production process, the materials and conversion costs are added evenly. At the beginning of the period, the inventory in process was 60% complete; at the end of the period he had 50% completion. Other important data are: beginning inventory of goods in process, 1,600 units; units started during the period, 2,000 and units completed during the period, 3,200. The beginning inventory costs are distributed among: materials, $150,000, conversion costs, $80,000. The costs incurred during the period are distributed among: materials, $200,000, conversion costs, $260,000. Based on this information, we can say that the cost per unit equivalent in conversion costs for the period is

• $87.50
• $90
• $100.00
• $77.80

Question 9 We discussed some cost estimation methods in class. The method under which we establish an equation as an estimator of future costs and that is based only on the statistical association between variables is known as:

• procedural cost
• high-low'
• Regression
• Activity Based Costing (ABC)

Question 10 When allocating indirect manufacturing costs (overhead costs) to the different pieces of equipment it produces, the company uses direct labor hours as the basis for said allocation (allocation base). ). If this is the case we can say that, under this structure, direct labor hours represent the

• cost driver
• cost object
• indirect cost
• Unit cost

Question 11 If the actual overhead costs incurred for a period were $288,000, and the allocated factory overhead costs were $284,000, the $4,000 understatement should be distributed among some of the following accounts (check all that apply):

• conversion costs
• Materials inventory
• Inventory of products in process
• cost of goods sold

Question 12 Mention the different types of quality costs and give an example of each type of cost in the case of a manufacturing company.

Question 13 Briefly describe the following production and cost allocation methods: a) ABC (Activity Based Costing); b) JIT (just in time)

Question 14 The ABC Corp. adds the materials at the beginning of its production process, the materials and conversion costs are added evenly. At the beginning of the period, the inventory in process was 60% complete; at the end of the period he had 50% completion. Other important data are: beginning inventory of goods in process, 1,600 units; units started during the period, 2,000 and units completed during the period, 3,200. The beginning inventory costs are distributed among: materials, $150,000, conversion costs, $80,000. The costs incurred during the period are distributed among: materials, $200,000, conversion costs, $260,000. Based on this information, we can say that the conversion cost equivalent units for the period is

• 3,400
• 2,000
• 3, 200
• 3,600