TEST BANK FOR PRINCIPLES OF COST ACCOUNTING, 17TH EDITION EDWARD J. VANDERBECK CHAPTERS 1 - 10, COMPLETE

1. Ch 1: Introduction to Cost Accounting


2. Ch 2: Accounting for Materials


3. Ch 3: Accounting for Labor


4. Ch 4: Accounting for Factory Overhead


5. Ch 5: Process Cost Accounting-General Procedures


6. Ch 6: Process Cost Accounting-Additional Procedures; Accounting for Joint Products and By-Products


7. Ch 7: The Master Budget and Flexible Budgeting


8. Ch 8: Standard Cost Accounting-Materials, Labor, and Factory Overhead


9. Ch 9: Cost Accounting for Service Businesses, the Balanced Scorecard, and Quality Costs


10. Ch 10: Cost Analysis for Management Decision Making




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,The business entity that converts purchased raw materials into finished goods by using labor, technology, and facilitiesi
s a:
a. Manufacturer.
b. Merchandiser.
c. Service business.
d. Not-for-profit service agency.
ANSWER: a
RATIONALE:
The business entity that converts purchased raw materials into finished goods by using labor,techn
ology, and facilities is a manufacturer.
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVE PRIN.EDWA.16.1 - Introduction
S:
ACCREDITING STAN AACSB Analytic
DARDS: ACCT.AICPA.FN.03 -
MeasurementBUSPROG.03 -
Analytic
IMA-Business Applications
OTHER: Bloom's: Remembering

2. The business entity that purchases finished goods for resale is a:
a. Manufacturer.
b. Merchandiser.
c. Service business.
d. Wholesaler.
ANSWER: b
RATIONALE: The business entity that purchases finished goodsdfor resale is a merchandiser.
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES PRIN.EDWA.16.1 - Introduction
:
ACCREDITING STANDARD AACSB Analytic ACCT.AICPA.FN.03 -
S: MeasurementBUSPROG.03 -
Analytic
IMA-Business Applications
OTHER: Bloom's: Remembering

3. The type of merchandiser who purchases goods from the producer and sells them to retailers that sell them to
theconsumer is a:
a. Manufacturer.
b. Retailer.
c. Wholesaler.
d. Service business.
ANSWER: c
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Goducer nand nsells nthem nto nthe nretailer.
POINTS: 1
DIFFICULTY: Easy




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, CHAPTER 1: INTRODUCTION TO COST ACCOUNTING
d n n n n



LEARNING nOBJECTIVES nPRIN.EDWA.16.1 n- nIntroduction
:
ACCREDITING nSTANDARD AACSB nAnalytic nACCT.AICPA.FN.03 n-
nS: MeasurementBUSPROG.03 n-
nAnalytic

IMA-Business nApplications
OTHER: Bloom's: nRemembering

4. Examples nof nservice nbusinesses ninclude:
a. Airlines, naccountants, nand nhair nstylists.
b. Department nstores, nposter nshops, nand nwholesalers.
c. Aircraft nproducers, nhome nbuilders, nand nmachine ntool nmakers.
d. None nof nthese nare ncorrect.
ANSWER: a
RATIONALE: Examples nof nservice nbusinesses ninclude nairlines, narchitects, nand nhair nstylists.
POINTS: 1
DIFFICULTY: Moderate
LEARNING nOBJECTIVE n PRIN.EDWA.16.1 n- nIntroduction
S:
ACCREDITING nSTAN n AACSB nReflective nThinking
DARDS: ACCT.AICPA.FN.03 n -
MeasurementBUSPROG.06 n-
nReflective nThinkingIdMA-

nBusiness nApplications


OTHER: Bloom's: nUnderstanding

5. ISO n9000 nis na nset nof ninternational nstandards nfor:
a. determining nthe nselling nprice nof na nproduct.
b. cost ncontrol.
c. quality nmanagement.
d. delivering nproduct,
ANSWER: c
RATIONALE: ISO n9000 nis na nset nof ninternational nstandards nfor nquality nmanagement.
POINTS: 1
DIFFICULTY: Easy
LEARNING nOBJECTIVES: nPRIN.EDWA.16.1 n- nIntroduction

ACCREDITING nSTANDAR nAACSB nAnalytic
DS: ACCT.AICPA.FN.03 n -
MeasurementBUSPROG.03 n-
nAnalytic

IMA-Strategic nPlanning
OTHER: Bloom's: nRemembering


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by Cogner