問題一覧
1
The flow of cost in s job order cost system
involves accumulating manufacturing costs incurred and assigning the accumulated costs to work done
2
A product requires processing in two departments, the Bnaking Department and then Packaging Department…. transferred to
Work in Process-Packaging Department
3
The work of factory employees that can be physically and directly… finished goods is
direct labor
4
Both direct matariels and indirect matariels are
raw matariels
5
An “Ordering and Receiving Matariels” cost pool would most likely have as cost…
number of purchase orders
6
When a job is complated an all costs have been accumulated on a job cost sheet, the journal entry model is
Finished Goods Inventory Work in process inventory
7
In process cost accounting, manufacturing costs are summurized on a
production cost report
8
Managerial Accounting is generally prepared for
managers
9
In a process cost system, labor costs incurrred may be captured on time tickets
True
10
The first step i actgivity-based costing is assign overhead costs to products, using cost drivers.
False
11
Finished goods inventory for manufacturing company is equivalent to inventory for merchandisng company.
Flase
12
Manufacturing cost include
direct matariels, direct labor, manufacturing overhead
13
An important feature of a job order cost system is that each job
has its own distinguishing characteristic
14
Process cost stytems are used to apply costs to spesidic job, such as…
False
15
which best describes the flow of overhead costs in an activity-based cost system ?
Overhead cost - activity cost pools - cost drivers - products
16
Equilivent units are calculated by
multplaying the percentage of work done by the physical units
17
A process cost accounting system is most appropriate when
similar products are mass-produced
18
The two basic types of cost accounting systems are
job order and process cost systems
19
Reports prepared in financial accounting are general-purpose reports, whereas reports prepared in managerial accounting are usually special-purpose reports
True
20
Ordering matariels, setting up machines, assembling profucts, and inspecting products are example of
overhead cost pools
21
Manufacturing costs that cannot be classified as either direct matariels or direct labor are known
manufacturing overhead
22
Activity-based costing
allocates overhead to activity cost pools, and it then assigns the activity cost pools to products and services by means cost drivers
23
ABC leads to enhanced control overhead costs
True
24
In process cost accounting manufacturing costs are summurized on a
production cost report
25
Direct matariels costs and indircet matariels costs are manufacturing overhead
False
26
In a process cost system
a Work in process account is maintained for each process
27
A job order cost system is most appropirate when a large volume of uniform products are produced
True
28
Job order cost sheets constitute the subsdinary ledger of the control account work in process inventory
True