Chapter 06 Fundamentals of Product and Service Costing Answer
Key
True / False Questions
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
6-10
19.
20.
Multiple Choice Questions
21.
22.
A system that provides information about the costs of processes, products, and services
used and produced by an organization is a:
23.
24.
The Cost Flow Diagram for product costing includes all of the following costs except:
25.
Which of the following statements does not reflect one of the fundamental themes
underlying the design of cost systems for managerial purposes?
26.
Case
(A)
Case
(B)
Case
(C)
Beginning Balance
(BB)
?
$23,000
$7,900
Ending Balance (EB)
$67,000
19,200
8,300
Transferred In (TI)
149,600
97,700
?
Transferred Out
(TO)
164,600
?
21,100
27.
Case
(A)
Case
(B)
Case
(C)
Beginning Balance
(BB)
?
$23,000
$7,900
Ending Balance (EB)
$67,000
19,200
8,300
Transferred In (TI)
149,600
97,700
?
Transferred Out
(TO)
164,600
?
21,100
28.
Case
(A)
Case
(B)
Case
(C)
Beginning Balance
(BB)
?
$23,000
$7,900
Ending Balance (EB)
$67,000
19,200
8,300
Transferred In (TI)
149,600
97,700
?
Transferred Out
(TO)
164,600
?
21,100
29.
The basic cost flow model is:
30.
The basic cost flow model is:
31.
The basic cost flow model is:
32.
The basic cost flow model is: