2649766
Pregunta 1
Pregunta
In a job-order costing system, the journal entry to record the application of overhead cost to jobs would include:
Respuesta
-
Credit to MOH account
-
Credit to Work in Process inventory account
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Debit to Cost of Goods Sold
-
a debit to the Manufacturing Overhead account
Pregunta 2
Pregunta
In a job-order costing system, the use of indirect materials would usually be recorded as a debit to:
Respuesta
-
Raw Materials
-
Work in Process
-
Manufacturing Overhead
-
Finished goods
Pregunta 3
Pregunta
In a job-order costing system, the entry to record depreciation on manufacturing equipment would include:
Respuesta
-
a debit to the Work in Process inventory account
-
a debit to the Depreciation Expense account
-
a credit to the Work in Process inventory account
-
a debit to the Manufacturing Overhead account
Pregunta 4
Pregunta
When applying manufacturing overhead to jobs, the formula to calculate the amount is as follows:
Respuesta
-
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.
Pregunta 5
Pregunta
Which of the following companies would be most likely to use a job-order costing system rather than a process costing system?
Respuesta
-
Fast food restaurant
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Shipbuilding
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Crude oil refining
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Candy making
Pregunta 6
Pregunta
Choice of allocation base should be made based on
Respuesta
-
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
-
whether the base actually drives the cost being allocated
Pregunta 7
Pregunta
In a job-order costing system, the journal entry to record the application of overhead cost to jobs would include:
Respuesta
-
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.
Pregunta 8
Pregunta
In a job-order costing system, the use of indirect materials would usually be recorded as a debit to:
Respuesta
-
raw materials
-
work in process
-
manufacturing overhead
-
finished goods
Pregunta 9
Pregunta
Which of the following is not a characteristic of Job-Order costing?
Respuesta
-
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
Pregunta 10
Pregunta
MOH is applied to each job using a predetermined rate
Respuesta
- True
- False
Pregunta 11
Pregunta
Using a predetermined rate makes it possible to __________ total job costs sooner
Respuesta
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Estimate
-
calculate
-
discard
Pregunta 12
Pregunta
When is actual overhead for the period known
Respuesta
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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
Pregunta 13
Pregunta
MOH is under-applied when
Respuesta
-
Applied OH is less than actual OH
-
Applied OH is greater than actual OH
Pregunta 14
Pregunta
MOH is over-applied when
Respuesta
-
Applied OH is less than actual OH
-
Applied OH is greater than actual OH
Pregunta 15
Pregunta
If you under-applied overhead you should ______ COGS, WIP, Finished goods
Respuesta
-
increase
-
decrease
Pregunta 16
Pregunta
If you over-applied overhead you should ______ COGS, WIP, Finished goods
Respuesta
-
increase
-
decrease
Pregunta 17
Pregunta
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.
Respuesta
- True
- False
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