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