Prmg90 Cce Question Sec 1,2,3
Prmg90 Cce Question Sec 1,2,3
Prmg90 Cce Question Sec 1,2,3
1 2 3 4 Name the comm cost elements for the total c of an as mon r cost sset. Why are code of accounts important for a corpo o orations cos accounting system? st ? Name the elements of cost managem t ment. Two elements o life cycle costing are assets and disposal. D of e d Define the prime p
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CCC/CC E Certificat C tion Ques stions Chap 4 pter La abor Exercise Questions
1. In a 40-ho per wee work yea how man hours wo 1 our ek ar ny ould a machinist work given the k following: f Sick l leave allow = 5 days wed s Vacation days = 10 days Paid holidays = 10 days Assume he uses all his sick tim me. A. 20 hours 040 B. 19 hours 960 C. 18 hours 880 D. 19 hours 920 2. You have the follow crew m Calcula the com 2 wing mix. ate mposite direct crew hou wage. urly XYZ Pr roduction C Crew Direct Wage 1 Foreman $ 25 per hour 5.00 2 Operators $ 18.00 per ho our 2 Helpers $ 12.0 per hour 00 r 1 Mec chanic $ 15. per hou .00 ur 11.67 A. $1 B. $2 25.00 C. $1 16.67 D. $2 20.00 3. The following pers 3 sonnel are assigned t a constr to ruction pro oject. Classi them in ify nto indirect and overh head personnel and c calculate th per hour cost adde per dire he ed ect work ho for eac classification. The total direc work-ho our ch ct ours are 10 0,000 for the month.
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A. Ind directs = $1 1.68, Overh heads = $6.6 62 B. Ind directs = $6 6.62, Overheads = $1.6 68 C. Ind directs = $3 3.53, Overheads = $4.7 78 D. Indirects = $1 1.60, Overh heads = $6.7 70 4. Given th standard labor cost for 100 LF of footing 8 inches by 12 inches = $125.00, if 4 he d t y s the jobsite conditio are: ons Jobsi conditio average ite ons: e Work Skill: po ker oor Temp perature: 80 degrees 8 Work week: 50 hours k What is the adjuste unit rate given the f ed e factors belo ow? Jobsi conditio ite ons Good + 4% Averag + 7% ge Poor + 12% Work Skill Lev ker vel High + 3.5% Average + 8% Poor + 15.5% perature B Below 40 de egrees or ab bove 85 deg grees, add 1 percent per degree o p of Temp varia ance Work W Weeks in ex xcess of 40 hours 40 to 48 hours + 7 7.5%
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51 to 54 hours + 1 18% 55 to 59 hours A. $1 161.25 B. $1 170.00 C. $1 153.13 D. $1 165.00 5. You are g 5 given the fo ollowing info ormation fo a five-day work activity: or Descript tion Cumulat hrs (pla tive an) Actual hours expen nded Cumulat hours earned tive e Cumulat earned % tive 15% 1 28% % 57% Day D 1 Day 2 Day 3 D 4 Day 5 CPI SP Day PI 60 6 48 4 85 72 136 144 175 1 21 +2 23%
Calculate th cumulative hours ea C he arned and d determine the CPI and the SPI. t d A. CP = 0.90, SP = 0.85 PI PI B. CP = 0.54, SP = 0.57 PI PI C. CP = 0.85, SP = 0.90 PI PI D. CP = 1.18, SP = 1.11 PI PI 6. You are 1 weeks into a project and the fo 6 10 ollowing inf formation is in your weekly proje ect status report: s CPI = 1.0 02 SPI = 0.9 98 These in ndicators mean: A. Pr roject is ahe of schedule and ov budget. ead ver . B. Project is beh hind schedu and und budget. ule der C. Project is beh hind schedu and over budget. ule D. Pr roject is ahe of schedule and un ead nder budge et.
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CCC/CC E Certificat C tion Ques stions Chap 5 pter Engin neering Exercise Que estions
1. 1 Research can be div h vided into t types: p two pure resear and app rch plied resear Researc rch. ch that atte empts to de evelop a usable product or new fe eature to an existing p product is: A. Pu research ure h B. Ap pplied resea arch 2. 2 In the United States, a patent duration is ____? s A. 20 years 0 B. 15 years 5 C. 17 years 7 D. 10 years 0 3. 3 Which of the follow is not an advantage of stand o wing a dardization in manufac cturing? A. Le investme in spare parts ess ent e B. Sh horter time to market C. Product flaws will be spr s read over a wide varie of produ ety ucts D. Fe ewer equipm ment comp ponents resulting in fas repairs ster s 1 2 List s some types of continuo produc ous ction. List s some types of discrete production e n
6. Continuo produc 6 ous ction method systems are less e s expensive in the long run becau use ______? ? A. High demand equals low costs. d wer B. Machinery is cheaper th labor. han C. Co of equip ost pment is am mortized ove many un of produ er nits uction. D. Bo Aand C oth 7. Discrete productio method will hav a higher labor factor verses continuo 7 e on ds ve ous
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CCC/CC E Certificat C tion Ques stions Chap 6 pter Equ uipment, P Parts, and T Tools Exer rcise Quest tions
1. When u 1 using market value m method to assess equ uipment va alue, which one of the h following will have the highest value? t A. Fair m market value-inplace B. Order liquidation value rly C. Fair M Market value-in-exchan nge D. Salvag value/pa ge art-out valu ue 2. Cost adju 2 ustments a applied to normalize used eq are quipment v value. Whic one of the ch following is not ge enerally applied to ad or deduc from the used equ dd ct e uipment sales data? A. The lo ocation of the sales t B. The sa ame equipm ment, but with different years of manufactu w ure C. Color of the equipment D. Condition of the equipment 3. Owner/l 3 leasing com mpanies rou utinely apply an inflatio factor to analyze re on o esidual valu ue. Which one of the fo o ollowing inf flation facto generally yields the highest reliability? or y e A. Consu umer price index (CPI) B. Industry-specific indices c C. Machine-specific indices c D. ENR e equipment cost indices 4. Equipment values are gen 4 s nerally divi ided into two majo categor or ries, name ely, replacem ment cost new and ma n arket value. . A. True B. False 5. The normal residu value cu 5 ual urve of long g-lived equi ipment usu ually follows an L-shaped s
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CCC/CC E Certificat C tion Ques stions Chap 7 pter Econom Costs E mic Exercise Questions Q
Definitions: D : 1. ________ 1 _______ represent the foregone benefit by choosing one alternat over e tive another. a A. Bo costs ook B. Su costs unk C. Op pportunity costs c D. Incremental costs 2. A cost tha represen funds already spent by virtue of past dec 2 at nts cisions is: A. Op pportunity Cost B. Su Cost unk C. Bo Cost ook D. Inflation 3. Book cost represen the value of an item as reflecte ________ 3 ts nt e ed _______. A. In the firms b books B. On the cash flows n f C. In the econom analysis decisions mic s D. Incremental costs 4. The rise in the price level of a g 4 good or serv or mar vice rket basket of goods an nd/or services is c s called _____ __________ ___. A. Cu urrency variation B. De eflation C. Escalation D. Inflation
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5. 5 _______ __________ is a technique to accommodate price incre _ e eases or dec creases during th life of th contract. he he . A. Ta axes B. Escalation C. Inv vestment ta credits ax D. De epreciation Problem So P olving: 1. ABC Con 1 nstruction C Company ow a crane with an original cost of $500,00 with an wns e 00, estimate salvage va of $200 e alue 0,000. Its lif is estima fe ated to be 1 years. Us straight15 sing line (SL) method, ca alculate the depreciation of this asset. e a A. $2 20,000 B. $3 33,333 C. $1 13,500 D. $5 50,000 2. 2 ABC Con nstruction C Company ow a small tractor wit an origin cost of $ wns th nal $10,000, with an estim mate salvage value of $2,000. Its life is estima e $ ated to be 5 years. Usi Doubleing Declining Balance (DDB), in wh year will the small tractor be fully depreciated? hat A. 5 B. 4 C. 2 D. 1 3. 3 A cross-c country hig ghway is built for $200 0,000,000 an will have maintenance costs o nd e of $500,000 per year. At 10 percent interest, what is th capitaliz cost of p he zed perpetual service? A. $5 550,000,000 0 B. $2 205,000,000 0
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CCC/CC E Certificat C tion Ques stions Chap 8 pter Activit ty-Based Cost Mana C agement Ex xercise Qu uestions
1. Why hav the indir costs (i overhe 1 ve rect i.e., ead) of most organizations been displacing the d direct co as a rel osts lative portio of its cos structure on st e? A. B. C. Machinery and auto omation has replaced manual wo ork. Compute and info ers ormation te echnology has replaced manual w h d work. The expa ansion in diverse prod duct lines a types o sales and distribution and of d channels has cause complex requirin more in s ed xity ng ndirect cost to mana ts age the comp plexity. D. White co ollar salari have b ies been rising faster than wages of front-line g workers. 2. How are expenses defined d 2 e s differently f from costs s? A. B. Expenses pertain on to emplo s nly oyee expen reports. nse . In contra to capit investments, expenses are only for item consumed ast tal ms within a year after b being purch hased. C. D. There is no difference, and the two terms are synony e s ymous. Expenses are when cash is paid out by t organization, and costs are the s the calculate usage of the expens spending ed se g. 3. What is the primary determinant influencing the accuracy of co 3 osts? A. B. C. D. The detail level the general led dger cost co odes. The struc cture of the cost assign e nment netw work. The quality of emplo oyee time s sheets. Having m more than o activity cost driver one r.
4. What are the ultima final cos objects of a cost measurement system? 4 e ate st f A. B. Product a service and e-line costs. Custome and busin er ness sustain cost. ning
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5. How is a local ABC system different f 5 C/M m from an en nterprise-w wide ABC/M system? M A. B. Local ABC is restricted to measure only product p C/M y profitability. Enterpris se-wide AB BC/M is inte ended to distribute cost reports primarily to d s department and cos center em st mployees. C. The pur rpose of local ABC/ /M reporting is ma ainly to d drive proce ess improvem ment and p productivity y. D. Local ABC primar feeds th pricing a quotatio system. C/M rily he and on
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CCC/CC E Certificat C tion Ques stions Chap 9 pter Cost Es stimating E Exercise Questions Q
1. An estim 1 mate prepar using co red ost/capacity factors would typically be classified as y which ty of estim ype mate. A. Class 5 Conc cept Screen Estimat ning te B. Class 4 Study Estimate y C. Class 3 Budg Estimate get e D. Cla 2 Cont Estimat ass trol te 2. 2 Assumin the cost for a 150 To ng f on/Day Wa to Ener Plant ha been nor aste rgy as rmalized for r location and escala ation. The adjusted cos for the 15 TPD Plan is $80M. After st 50 nt analysis, the cost/c , capacity factor is assum to be .6 What is the cost fo a 90 TPD med 65. s or Plant? A. $48 8.0M B. $57 7.4M C. $59 9.8M D. $11 11.5M 3. Which of the follow is not t 3 o wing true regarding a detailed estimate? A. Each com mponent of the project scope de f efinition is quantitativ vely survey yed and price using the most realistic unit pr ed e rices availab ble. B. C. D. Requires a substant amount of time and money to prepare. s tial t o Uses a co onceptual e estimating m methodolog gy. Is typically the most accurate o the various estimati method t of ing dologies.
4. Which of the follow is true regarding 4 o wing allowances? A. B. Allowanc are neve required in an estim ces er d mate. Allowanc are most often us when preparing d ces sed p detailed or determinis stic estimate es.
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7. Estimating the cost of constru 7 t uction of a p proposed hotel based on the ave h erage cost p per hotel room of a rec cently comp pleted hote involves w el which estim mating meth hodology? A. B. C. D. Capacity factor met thod. Physical dimensions method. s End-prod duct units m method. Parametric method.
8. The basi steps of preparing a cost estimating includ all of the following except? 8 ic p de e A. B. C. D. Understa the scope of the activity to qu and uantify the resources required. Evaluate project alternatives. Apply costs to the re esources. Apply pri icing adjust tments.
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CCC/CC E Certificat C tion Ques stions Chap 10 pter Proce Produc Manufac ess ct cturing Exercise Que estions
1. The prefe 1 erred basis to estimate operating cost is? e g A. Dai basis ily B. Unit-of-production basis C. Ann basis nual D. Hourly basis 2. Annual basis for ope 2 erating cost estimates is preferred because _ t d __________ __. A. It is directly us s sable in pro ofitability an nalysis B. It damps out seasonal variations v C. It is readily convertible to the other bases, daily cost and unit-of-production s o D. All of the abov ve 3. Estimatin cost assu 3 ng uming opera ations at on full desig capacity is best. nly gn y A. Tru ue B. Fals se 4. Which of the costs li 4 f isted below would be considered Semi-varia w d able? A. Pro operty tax B. Raw materials w s C. Direct labour D. Roy yalties 5. Which of the costs listed below would be considered Fixed-cos 5 o w e st? A. B. C. D. Deprecia ation Utilities Plant ove erhead Marketin ng
6. At which point will income exa 6 h actly equal total opera ating cost? A. Shutdow point wn
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7. In a man 7 nufacturing operation, at 100 per , rcent of cap pacity, annu costs are as follows ual e s: Fixed expense $5 5,203,440 Variab expense $7,091,04 ble e 40 Semi v variable expense $6,217,750 Sales $26,385,48 80
Assumin that semi-variable c ng costs at zero productio equal 30 percent of such costs o on f at 100 p percent of capacity, determine the shutdown and break e n keven point ts
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CCC/CC E Certificat C tion Ques stions Chap 11 pter Discre Produc Manufa ete ct acturing Ex xercise Que estions
1. The man 1 nufacturing philosophy to shorten lead time reduce costs, and re g y n es, educe waste is known as: n A. Su upply chain manageme ent B. Material requ uirements p planning C. Gr roup techno ology D. Le manufa ean acturing E. Co omputer aid process planning ded s 2. 2 The man nufacturing philosophy that ident g y tifies and ex xploits the underlying sameness o of component parts and manufacturing pro ocesses is kn nown as: A. Su upply chain manageme ent B. Material requ uirements p planning C. Gr roup techno ology D. Le manufa ean acturing E. Co omputer aid process planning ded s 3. 3 The mar rk-up rate fo a produc is 20 perc or ct cent, and th total cos are $100 he sts 0,000. The selling p price should be: d A. $1 100,000 B. $1 120,000 C. $1 125,000 D. $4 400,000 E. $5 500,000 4. 4 The data for the following pro a oduct was o obtained for an order o 30,000 pa r of arts: Direc Material Costs $50,0 ct 000Factory Expenses $5,000Direc Labor Co $ ct osts $40,0 000Adminis strative Exp penses $15, ,000Selling & Distribut tion Expens ses $24,0 000Conting gency Costs $10,000Mark-up Rate 10 percen Units Pro s e nt oduced
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6a. What is the shutdo point in hours? 6 own n A. 2,500 0 B. 2,000 0 C. 1,250 D. 1,000 0 E. 625 6b. What is the cost po in hour 6 oint rs? A. 2,000 0 B. 1,250 0 C. 1,000 D. 625 E. 500 6c. What is the require return po in hour 6 ed oint rs? A. 2,000 0 B. 1,250 0 C. 1,000 D. 625 E. 500
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CCC/CC E Certificat C tion Ques stions Chap 12 pter Plan nning Exer rcise Ques stions
1. Planning can be defined as 1 g A. Influencing the futu by making decision based on missions, needs, and ure ns n objective es. B. The proc cess of stating goals an determin the mo effective way of nd ning ost e reaching them. C. Future-oriented dec cision proce defining the action and activ ess g ns vities, the time and cost target and the p d ts performanc mileston that will result in ce nes l successfu achieving objectives. ully D. All of the above e
2. 2 Establish a plann culture hing ning e A. Minimize the impo es ortance of m managemen buy-in an support for the nt nd planning process. B. Requires commitme by top m s ent management, continues with com mmunicatio on of that co ommitment to mid-lev manage and bec vel ers, comes roote when ed every em mployee rela unequivocally wit the comp ates th panys goals. C. Ensures t that each o organization has the au n uthority to a indepen act ndently of establish policies when deve hed eloping plan ns. D. Is not beneficial to t goals of the compa and the cost of est the f any e tablishing this cultu should be avoided. ure b 3. Scheduli and planning are synonymous terms and are interc 3 ing d changeable when describin logically arranging a ng activities. A. A B. B True False e
4. Planning tools inclu comme 4 g ude ercial handb books, company opera ating proced dures, mod del plans, ch hecklists, an historica databases. nd al
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5. 5 The major element of plannin are ts ng A. Scope of work, time cost, reso f e, ource, quality, post com mpletion re eview and change. B. C. D. D Scope of work, sche f eduling, cos resource quality an change. st, e, nd Time, cos resource quality an change. st, e, nd
6. 6 Continge ency planni is recog ing gnizing that change is inevitable and providin ng alternatives in the f form of: A. B. C. D. Alternate plans. e Budgets and schedu ules. Alternate plans, bud e dgets and schedules. Budgets and work-a arounds.
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CCC/CC E Certificat C tion Ques stions Chap 13 pter Sche eduling Exe ercise Que estions
1. The Work Breakdow Structure is valuable because i allows: 1 k wn e it A. Project d details to be broken do into dif e own fferent grou upings for a analysis and d control purposes. p B. C. All projec to be co cts onfigured in the sam number o work pac nto me of ckages. The highest level of the structu to repre f ure esent work packages for easy reference e. D. Similar activities to have identi identify codes. ical ying
2. 2 Activity A has a dur ration of fiv days. Act ve tivity B has a duration of 15 days and cannot t start unt one day after Activity A is complete. Activ C has a duration of ten days til vity and cann finish until four da after Ac not u ays ctivity B is co omplete. Th total duration of th he he project i is A. B. C. D. 30 days. 31 days. 25 days. 24 days.
3. 3 Refer to question # 2. What lo change would take Activity B off of the critical path ogic e c h? A. Replace t FS relat the tionship bet tween Activ vities A and B with an SF + 21 day d ys relations ship, and replace the F relationsh betwee Activities B and C with FF hip en s an SS + 9 days relati ionship. B. Remove the FS relat tionship be etween Activities A and B, and rep d place with a an SS + 6 da relations ays ship. Chang the FF re ge elationship between Activities B and C to FF + 0 (no lag). Create an FS + 10 day relatio l e 0 onship betw ween Activities A and C. s C. Allow Activity B to start immed s diately after Activity A is complete and change the relationship bet tween Activ vities B and C to FF + 5 days.
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5. 5 All of the following are true of a dummy activity e e f y except: A. B. C. D. It is unique to ADM networks. It has no time durat tion. It ensure an activity has a uniq i-j de es que esignator. It cannot be used to show relationships between act t o tivities with more than h n one pred decessor. Use the foll U lowing to answer questions 6-8. a A project co onsists of th following activities: he g
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