Cost Accounting

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5 Topics
CHAPTER 1: COST MANAGEMENT & STRATEGY

📖Introduction To Cost Accounting

2 Topics
1. ✏️+🎥Introduction to Cost Accounting🟢
2. 🎙️Introduction to Cost Accounting
📖Cost Accounting In Contemporary Business Environment

2 Topics
1. ✏️+🎥Cost Accounting in Contemporary Business Environment🟢
2. 🎙️Cost Accounting in Contemporary Business Environment
📖Michael Porter Competitive Strategies

2 Topics
1. ✏️+🎥Michael Porter Competitive Strategies🟢
2. 🎙️Michael Porter Competitive Strategies
📖Balanced Scorecard

5 Topics
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1 Quiz
- 🎯Balanced Scorecard: 7 MCQs
📖The 4 Costs Of Quality

4 Topics
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1 Quiz
- 🎯The Four Costs of Quality: 13 MCQs
CHAPTER 2: COST VOLUME PROFIT ANALYSIS

📖Cost Volume Profit Analysis

4 Topics
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1 Quiz
- 🎯Cost-Volume-Profit Analysis: 10 MCQs
📖Contribution Margin Ratio

2 Topics
1. ✏️+🎥Contribution Margin Ratio🟢
2. 🎙️Contribution Margin Ratio
📖Cost Volume Profit Application

6 Topics
📖Break Even Point & Target Profit

3 Topics
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1 Quiz
- 🎯Break-Even Point: 8 MCQs
📖Target & Cost Volume Profit Analysis

3 Topics
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1 Quiz
- 🎯Target-Profit Analysis: 5 MCQs
📖Cost Structure & Profit Stability

2 Topics
1. ✏️+🎥Cost structure and Profit Stability🟢
2. 🎙️Cost structure and Profit Stability
📖Margin Of Safety

3 Topics
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1 Quiz
- 🎯Margin of Safety: 6 MCQs
📖Degree Of Operating Leverage (DOL)

4 Topics
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1 Quiz
- 🎯Degree of Operating Leverage (DOL): 4 MCQs
📖Break Even For Multi-Product

4 Topics
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1 Quiz
- 🎯Break-Even for Multi-Products: 5 MCQs
CHAPTER 3: COST ESTIMATION

📖Account Analysis & Engineering Methods

3 Topics
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1 Quiz
- 🎯Cost Estimation: 9 MCQs
📖High-Low Method

6 Topics
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1 Quiz
- 🎯High-Low Method: 7 MCQs
📖Cost Estimated Regression Analysis

3 Topics
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1 Quiz
- 🎯Regression Analysis: 20 MCQs
CHAPTER 4: BASIC COST ACCOUNTING TERMS & CONCEPTS

📖Basic Cost Accounting Terms

2 Topics
1. ✏️+🎥Basic Cost Accounting Terms🟢
2. 🎙️Basic Cost Accounting Terms
📖Three Basic Manufacturing Cost

4 Topics
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2 Quizzes
- 🎯Manufacturing Costs: 14 MCQs
- 🎯Manufacturing Costs TF
📖Product Cost Vs Period Cost

3 Topics
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1 Quiz
- 🎯Product Cost Vs Period Cost: 14 MCQs
📖Cost Behavior: Variable, Fixed & Mixed Cost

5 Topics
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1 Quiz
- 🎯Cost Behavior: Variable Cost, Fixed Cost, and Mixed Cost: 27 MCQs
📖Traditional Vs Contribution Format Income Statement

3 Topics
CHAPTER 5: JOB ORDER COSTING

📖Job Order Costing

5 Topics
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1 Quiz
- 🎯Job-order Costing System: 11 MCQs
📖Cost Flow In Job Order Costing

5 Topics
📖Cost Of Goods Manufactured

4 Topics
📖Under-Applied & Over-Applied Overhead

5 Topics
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1 Quiz
- 🎯Manufacturing Overhead Allocation: 20 MCQs
CHAPTER 6: PROCESS COSTING

📖Process Costing

12 Topics
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2 Quizzes
- 🎯Process Costing: 17 MCQs
- 🎯Process Costing TF
CHAPTER 7: ACTIVITY-BASED-COSTING

📖Activity Based Costing

11 Topics
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2 Quizzes
- 🎯Activity Based Costing: 20 MCQs
- 🎯Activity Based Costing TF
CHAPTER 8: BUDGETING PROCESS

📖What Is a Budget & Role Of Budgets

2 Topics
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1 Quiz
1. ✏️+🎥What is a Budget and Role of Budgets🟢
2. 🎙️What is a Budget and Role of Budgets
- 🎯Role of Budgets: 8 MCQs
📖Budgetary Process

2 Topics
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1 Quiz
1. ✏️+🎥Budgetary Process🟢
2. 🎙️Budgetary Process
- 🎯Planning a Budget: 9 MCQs
📖Types Of Budgets

2 Topics
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1 Quiz
1. ✏️+🎥Types of Budgets🟢
2. 🎙️Types of Budgets
- 🎯Types of Budgets and Budgetary Process: 9 MCQs
📖Zero Based Budgeting & Rolling Budget

2 Topics
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1 Quiz
1. ✏️+🎥Zero Based Budgeting and Rolling Budget🟢
2. 🎙️Zero Based Budgeting and Rolling Budget
- 🎯Zero Based Budgeting: 8 MCQs
📖Activity Based Budgeting

2 Topics
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1 Quiz
1. ✏️+🎥Activity Based Budgeting🟢
2. 🎙️Activity Based Budgeting
- 🎯Activity Based Budgeting: 7 MCQs
📖Master Budget & Related Schedules

11 Topics
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2 Quizzes
- 🎯Master Budget Quiz : 43 MCQs
- 🎯Budgeting TF
📖Production Budget

5 Topics
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1 Quiz
- 🎯Production Budget and manufacturing Budget: 37 MCQs
CHAPTER 9: VARIABLE COSTING VS ABSORPTION COSTING

📖Absorption & Variable Costing

9 Topics
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3 Quizzes
CHAPTER 10: COST ALLOCATION

📖Intro To Cost Allocation

2 Topics
1. ✏️+🎥Introduction to cost allocation🟢
2. 🎙️Introduction to cost allocation
📖Cost Allocation Direct Method

4 Topics
📖Cost Allocation Step Method

3 Topics
📖Cost Allocation Reciprocal Method

5 Topics
CHAPTER 11: VARIANCE ANALYSIS

📖Flexible Budget & Performance Analysis

10 Topics
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2 Quizzes
- 🎯Flexible Budget and Performance Analysis: 27 MCQs
- 🎯Flexible Budgets TF
📖Direct Material & Labor Variance Analysis

7 Topics
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2 Quizzes
- 🎯Direct Labor Variances: 6 MCQs
- 🎯Direct Material Variances: 9 MCQs
📖Variances Using Journal Entries

5 Topics
📖Variable & Fixed Overhead Variances

4 Topics
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2 Quizzes
- 🎯Variable Overhead Variances: 8 MCQs
- 🎯Fixed Overhead Variances: 8 MCQs
CHAPTER 12: TRANSFER PRICING

📖Transfer Pricing

8 Topics
CHAPTER 13: ECONOMIC ORDER QUANTITY & REORDER POINTS

📖Economic Order Quantity

2 Topics
1. ✏️+🎥Economic Order Quantity🟢
2. 🎙️Economic Order Quantity
📖Reorder Points & Safety Stock

2 Topics
1. ✏️+🎥Reorder Points and Safety Stock🟢
2. 🎙️Reorder Points and Safety Stock
CHAPTER 14: MARGINAL ANALYSIS & DECISION MAKING

📖Relevant & Irrelevant Cost

3 Topics
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2 Quizzes
- 🎯Relevant and Irrelevant Costs: 7 MCQs
- 🎯Relevant and Irrelevant Costs TF
📖Add Or Drop a Segment

5 Topics
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1 Quiz
- 🎯Add or Drop a Segment: 6 MCQs
📖Make Or Buy Component Analysis

5 Topics
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1 Quiz
- 🎯Make or Buy Decisions: 6 MCQs
📖Accepting Or Rejecting Special Order

4 Topics
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1 Quiz
- 🎯Accepting or Rejecting Special Order: 6 MCQs
📖Utilization Of a Constrained Resource

3 Topics
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1 Quiz
- 🎯Utilization of Constrained Resources: 8 MCQs
📖Sell Or Process Further Decisions

5 Topics
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1 Quiz
- 🎯Sell or Process Further Decisions: 7 MCQs

Participants 2362

8.Lục Hoàng Ý Hoa
Aadil
AADITYA CHAKRAVARTHY
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Aamir Belif

Quiz 2 of 45

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🎯The Four Costs of Quality: 13 MCQs

Cost Accounting
📖The 4 Costs Of Quality
🎯The Four Costs of Quality: 13 MCQs

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Question 1 of 13

1. Question
In which of the four types of quality costs does the inspection of products fall?
- A. Internal Failure Cost
- B. External Failure Cost.
- C. Prevention Cost
- D. Appraisal Cost
Correct

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Question 2 of 13

2. Question
In which of the four types of quality costs does the cost of quality training fall?
- A. Internal Failure Cost
- B. External Failure Cost
- C. Prevention Cost
- D. Appraisal Cost
Correct

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Question 3 of 13

3. Question
In which of the four types of quality costs does the testing of incoming materials received from suppliers fall?
- A. External Failure Cost.
- B. Internal Failure Cost.
- C. Appraisal Cost.
- D. Prevention Cost.
Correct

Incorrect
Question 4 of 13

4. Question
On a quality cost report, which of the below would be regarded as an external failure cost?
- A. Customer returns arising from quality problems.
- B. Reentering data because of keying errors.
- C. Rework labor and overhead.
- D. Test and inspection of in-process goods
Correct

Incorrect
Question 5 of 13

5. Question
On a quality cost report, which of the below would be categorized as a prevention cost?
- A. Test and inspection of incoming materials.
- B. Debugging software errors.
- C. Cost of field servicing and handling complaints.
- D. Quality training.
Correct

Incorrect
Question 6 of 13

6. Question
On a quality cost report, which of the below would be categorized as a prevention cost?
- A. Net cost of spoilage.
- B. Technical support provided to suppliers.
- C. Depreciation of test equipment.
- D. Disposal of defective products.
Correct

Incorrect
Question 7 of 13

7. Question
On a quality cost report, which of the below would be categorized as an internal failure cost?
- A. Technical support provided to suppliers.
- B. Rework labor and overhead.
- C. Cost of field servicing and handling complaints.
- D. Lost sales arising from a reputation for poor quality.
Correct

Incorrect

Question 8 of 13

8. Question

The below data is related to the quality cost report for the Miles corporation:

Quality circles	$ 20,000
Product recalls	$ 33,000
Supplies used in testing and inspection	$ 98,000
Net cost of scrap	$ 40,000
Liability arising from defective products	$ 49,000
Re-entering data because of keying errors	$ 80,000
Debugging software errors	$ 30,000
Test and inspection of incoming materials	$ 58,000
Quality data gathering, analysis, and reporting	$ 66,000

Compute the total internal failure cost that should be shown on the quality cost report for the Miles Corporation.

A. $70,000
B. $110,000
C. $66,000
D. $150,000

Correct

Incorrect

Question 9 of 13

9. Question

Dowen Inc. produces large commercial doors for warehouses and other facilities Dowen Inc. incurred the below costs in performing quality activities during the year:

Product recall activities	$ 550,000
Quality training activities	$ 350,000
Quality improvement activities	$ 190,000
Warranty claim activities	$ 150,000
Quality inspection and testing activities	$ 80,000
Rework activities	$ 44,000
Quality data collection and reporting activities	$ 6,000

Compute the total prevention cost that should be shown on the quality cost report for Dowen Inc.

$540,000
$196,000
$350,000
$546,000

Correct

Incorrect

Question 10 of 13

10. Question

The below data is related to the quality cost report for the Thompson corporation:

Quality circles	$ 7,000
Product recalls	$ 45,000
Supplies used in testing and inspection	$ 65,000
Net cost of scrap	$ 78,000
Liability arising from defective products	$ 20,000
Re-entering data because of keying errors	$ 50,000
Debugging software errors	$ 10,000
Test and inspection of incoming materials	$ 52,000
Quality data gathering, analysis, and reporting	$ 68,000

Compute the total external failure cost that should be shown on the quality cost report for the Thompson Corporation.

A. $20,000
B. $7,000
C. $45,000
D. $65,000

Correct

Incorrect

Question 11 of 13

11. Question

The below data is related to the quality cost report for the Siren Company:

Disposal of defective products	$ 100,000
Liability arising from defective products	$ 80,000
Test and inspection of in-process goods	$ 53,000
Systems development	$ 20,000
Net cost of spoilage	$ 90,000
Supervision of testing and inspection activities	$ 65,000
Lost sales due to poor quality	$ 72,000
Maintenance of test equipment	$ 33,000
Quality data gathering, analysis, and reporting	$ 40,000

Compute the total external failure cost that should be shown on the quality cost report for the Siren Company.

A. $152,000
B. $100,000
C. $80,000
D. $72,000

Correct

Incorrect

Question 12 of 13

12. Question

The below data is related to the quality cost report for the Empire Motor Corporation:

Lost sales due to poor quality	$ 102,000
Quality data gathering, analysis, and reporting	$ 10,000
Net cost of spoilage	$ 72,000
Re-entering data because of keying errors	$ 64,000
Test and inspection of in-process goods	$ 40,000
Final product testing and inspection	$ 55,000
Statistical process control activities	$ 35,000
Returns arising from quality problems	$ 45,000
Downtime caused by quality problems	$ 14,000

Compute the total external failure cost that should be shown on the quality cost report for the Empire Motor Corporation.

A. $55,000
B. $147,000
C. $45,000
D. $102,000

Correct

Incorrect

Question 13 of 13

13. Question
In general, a rise in appraisal costs will lead to an increase in:
- A. Opportunity Costs.
- B. External Failure Costs.
- C. Internal Failure Costs.
- D. Prevention Costs.
Correct

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Cost Accounting

CHAPTER 1: COST MANAGEMENT & STRATEGY

Participants 2362

🎯The Four Costs of Quality: 13 MCQs

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