management accounting例题.docx

第一章a) Income Tax Return FAb) Budget Variance analysis MAc) Product costing MAd) Balance Sheet FAe) Management Reports MAf) Overhead Cost allocation MAManagement Accounting is only concerned with providing quantitative information.(F)b) Management Accounting and Cost Accounting are interchangeable terms.(F)c) Management Accounting provides information to decision makers.(T)d) The cost accountant reports to the controller.(T) Elements of costsMaterialDirect materialP. 12 Indirect materialLabour Direct materialP.13 Indirect material Fixed CostsFactory Overhead Variable Costs Semi-variable CostsTotal Costs = Fixed Costs + (Variable cost per unit * output)TC = FC + VC(q)Variable overhead Variable ExpensesDirect Labour Direct MaterialFixed overhead Fixed ExpensesFixed Costs Variable cost Mixed CostContribution= TC - VC(q)Prime Costs = Direct Materials +Direct LabourConversion Costs = Direct Labour + OverheadProduct Costs = Direct material +Direct labour + overhead = Prime Cost + Overhead = Conversion Costs + Direct Material Administrative costPeriod Costs (Expenses) Financial cost Selling Distribution Cost Direct Material Product Cost Direct LabourTotal Costs Overhead Period CostExample 1Mountain fountain has started a small home-business making lip gloss. During June Justine Produced and sold 1,000 lip glosses. Justine prepared the following profit report for that month: Sales 12,000 Expenses: Bees Wax 2,100 Shea Butter 900 Jars 700 DM Factory Rent and Insurance 750 Advertising 250 Overhead Depreciation – Blender 300 Production Wages 3,000 DL Administration Wages 2,000 Expense