Order ID: DHT6H23GDHY82HD Delivery: 3 HOURS & ABOVE Writer Classification: PHD-PROFICIENT Formatting Style: APA/HARVARD/MLA Plagiarism Grading: 0-0.3% Quality Standard: 99.999% Sources: 3-7 Course Level: UNIVERSITY/COLLEGE Revision Request: ALLOWED
1. Cost accounting involves the measuring, recording,
and reporting of:
(a) product costs.
(b) future costs.
(c) manufacturing processes.
(d) managerial accounting decisions.
2. A company is more likely to use a job order cost
(a) it manufactures a large volume of similar products.
(b) its production is continuous.
(c) it manufactures products with unique characteristics.
(d) it uses a periodic inventory system.
3. In accumulating raw materials costs, companies
debit the cost of raw materials purchased in a perpetual system to:
(a) Raw Materials Purchases.
(b) Raw Materials Inventory.
(d) Work in Process.
4. When incurred, factory labor costs are debited to:
(a) Work in Process.
(b) Factory Wages Expense.
(c) Factory Labor.
(d) Factory Wages Payable.
5. The fl ow of costs in job order costing:
(a) begins with work in process inventory and ends
with fi nished goods inventory.
(b) begins as soon as a sale occurs.
(c) parallels the physical fl ow of materials as they are
converted into fi nished goods.
(d) is necessary to prepare the cost of goods manufactured schedule.
6. Raw materials are assigned to a job when:
(a) the job is sold.
(b) the materials are purchased.
(c) the materials are received from the vendor.
(d) the materials are issued by the materials storeroom.
7. The source documents for assigning costs to job cost
(a) invoices, time tickets, and the predetermined
(b) materials requisition slips, time tickets, and the
actual overhead costs.
(c) materials requisition slips, payroll register, and
the predetermined overhead rate.
(d) materials requisition slips, time tickets, and the
predetermined overhead rate.
8. In recording the issuance of raw materials in a job
order cost system, it would be incorrect to:
(a) debit Work in Process Inventory.
(b) debit Finished Goods Inventory.
(c) debit Manufacturing Overhead.
(d) credit Raw Materials Inventory.
|FOLLOWING OF INSTRUCTIONS
|NEATNESS AND OTHERS
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