TEST BANK FOR Management for Cost Accounting 5th E
Exam (elaborations)
Exam (elaborations) TEST BANK FOR Management for Cost Accounting 5th E
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TEST BANK FOR Management for Cost Accounting 5th E
Institution
Maastricht University (UM)
Exam (elaborations) TEST BANK FOR Management for Cost Accounting 5th E
1–13. (20 min.) Cost data for managerial purposes.
a. Differential costs are costs that would change; that is, the materials costs in this
situation. Other costs would presumably not be affected by the change in materials....
TEST BANK FOR Management for Cost Accounting 5th E
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,Solutions Manual
for
COST ACCOUNTING
Creating Value for Management Fifth Edition
MICHAEL MAHER
University of California, Davis
, Table of Contents
Chapter 1 Chapter 15
Cost Accounting: How Managers User Using Differential Analysis for
Cost Accounting Information Production Decisions
Chapter 2 Chapter 16
Cost Concepts and Behaviour Managing Quality and Time
Chapter 3 Chapter 17
Cost System Design: An Overview Planning and Budgeting
Chapter 4 Chapter 18
Job Costing Flexible Budgeting and Performance
Evaluation
Chapter 5
Process Costing Chapter 19
Performance Evaluation: Cost
Chapter 6 Variances
Spoilage and Quality Management
Chapter 20
Chapter 7 Performance Evaluation in
Allocating Costs to Departments Decentralized Organizations
Chapter 8 Chapter 21
Activity-Based Costing Transfer Pricing
Chapter 12 Chapter 25
Cost Estimation Management Ethics and Financial
Fraud
Chapter 13
Cost-Volume-Profit Analysis Chapter 26
Revenue, Mix and ield Variances
Chapter 14
Differential Cost and Revenue Analysis
, Chapter 1
Cost Accounting: How Managers
Use Cost Accounting Information
Solutions to Review Questions
1–1.
C Analysis of divisional performance
A Costing for income tax purposes
B Determining how many units to produce in the coming week
1–2.
Descriptions of the six business functions in the value chain are as follows:
1. Research and development: the creation and development of ideas related to new products, services,
or processes.
2. Design: the detailed development and engineering of products, services, or processes.
3. Production: the collection and assembly of resources to produce a product or deliver a service.
4. Marketing: the process that informs potential customers about the attributes of products or services, and
leads to the sale of those products or services.
5. Distribution: the process established to deliver products or services to customers.
6. Customer Service: product or service support activities provided to customers.
1–3.
Value-added activities are activities that customers perceive as adding utility to the goods or services they
purchase. Nonvalue-added activities do not add value to the goods or services.
1–4.
Differential costs are important for managerial decision making, but other cost data can provide
management with additional important information. For example, inventory values and costs of goods sold
are important for income tax and financial reporting purposes as well as for most bonus and cost-plus
contracting purposes. Costs for performance evaluation are not necessarily differential costs. Companies try
to recover all costs, hence some estimate of total costs is needed. (This could be an opportunity to discuss
short-run and long-run costs with students, noting that in the long run, all costs must be covered.)
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