2649766
Frage 1
Frage
In a job-order costing system, the journal entry to record the application of overhead cost to jobs would include:
Antworten
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Credit to MOH account
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Credit to Work in Process inventory account
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Debit to Cost of Goods Sold
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a debit to the Manufacturing Overhead account
Frage 2
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In a job-order costing system, the use of indirect materials would usually be recorded as a debit to:
Antworten
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Raw Materials
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Work in Process
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Manufacturing Overhead
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Finished goods
Frage 3
Frage
In a job-order costing system, the entry to record depreciation on manufacturing equipment would include:
Antworten
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a debit to the Work in Process inventory account
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a debit to the Depreciation Expense account
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a credit to the Work in Process inventory account
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a debit to the Manufacturing Overhead account
Frage 4
Frage
When applying manufacturing overhead to jobs, the formula to calculate the amount is as follows:
Antworten
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Predetermined overhead rate divided by the actual manufacturing overhead incurred on the particular job.
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Predetermined overhead rate times the actual manufacturing overhead incurred on the particular job.
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Predetermined overhead rate divided by the actual units of allocation base charged to the particular job.
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Predetermined overhead rate times the actual units of allocation base charged to the particular job.
Frage 5
Frage
Which of the following companies would be most likely to use a job-order costing system rather than a process costing system?
Antworten
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Fast food restaurant
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Shipbuilding
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Crude oil refining
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Candy making
Frage 6
Frage
Choice of allocation base should be made based on
Antworten
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The relative size of the base
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the base's relation to direct labor
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the base's activity
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whether the base actually drives the cost being allocated
Frage 7
Frage
In a job-order costing system, the journal entry to record the application of overhead cost to jobs would include:
Antworten
-
a credit to the Manufacturing Overhead account.
-
a credit to the Work in Process inventory account.
-
a debit to Cost of Goods Sold.
-
a debit to the Manufacturing Overhead account.
Frage 8
Frage
In a job-order costing system, the use of indirect materials would usually be recorded as a debit to:
Antworten
-
raw materials
-
work in process
-
manufacturing overhead
-
finished goods
Frage 9
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Which of the following is not a characteristic of Job-Order costing?
Antworten
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Many different products are produced each year
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Products are manufactured to order
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costs are traced or allocated to jobs
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cost records must be maintained for each distinct product or job
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manufacturing costs are assigned to products
Frage 10
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MOH is applied to each job using a predetermined rate
Antworten
- True
- False
Frage 11
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Using a predetermined rate makes it possible to __________ total job costs sooner
Antworten
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Estimate
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calculate
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discard
Frage 12
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When is actual overhead for the period known
Antworten
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the beginning of the period
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the middle of the period
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the end of the period
Frage 13
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MOH is under-applied when
Antworten
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Applied OH is less than actual OH
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Applied OH is greater than actual OH
Frage 14
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MOH is over-applied when
Antworten
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Applied OH is less than actual OH
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Applied OH is greater than actual OH
Frage 15
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If you under-applied overhead you should ______ COGS, WIP, Finished goods
Antworten
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increase
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decrease
Frage 16
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If you over-applied overhead you should ______ COGS, WIP, Finished goods
Antworten
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increase
-
decrease
Frage 17
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Assume that Tiger Co.'s overhead was $60,000 under-applied. This amount would result in an adjustment that would decrease COGS by $60,000.
Antworten
- True
- False
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