Question 1

Match each of the following costs with the appropriate classification (a-e).​
-Depreciation on office equipment
A)Product cost - direct materials
B)Product cost - direct labor
C)Product cost - factory overhead
D)Period cost - selling expense
E)Period cost - administrative expense

Accepted Answer

The answer of Match each of the following costs with...

Question 2

In a job order cost accounting system for a service business, materials costs are normally included as part of overhead.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following would most likely use a job order costing system?

Accepted Answer

A)  paper mill
B)  swimming pool installer
C)  company that manufactures chlorine for swimming pools
D)  oil refineryE) C) and D)
F) None of the above

Question 4

Journalizing the entry to record a job completed would include a debit to

Accepted Answer

A)  Factory Overhead
B)  Finished Goods
C)  Work in Process
D)  Cost of Goods SoldE) None of the above
F) All of the above

Question 5

Costs that are treated as assets until the product is sold are

Accepted Answer

A)  product costs
B)  period costs
C)  conversion costs
D)  selling expensesE) C) and D)
F) A) and D)

Question 6

The direct labor and overhead costs of providing services to clients are accumulated in a work in process account.

Accepted Answer

A) True 
 B)False

Question 7

The debit to Factory Overhead for the cost of indirect materials is obtained from the summary of the materials requisitions.

Accepted Answer

A) True 
 B)False

Question 8

Selected accounts with amounts omitted are as follows:   If the balance of Work in Process on August 31 is $220,000, what was the amount debited to Work in Process for direct materials in August?

Accepted Answer

A)  $390,000
B)  $170,000
C)  $525,000
D)  $580,000E) All of the above
F) C) and D)

Question 9

Six selected transactions for the current month are indicated by letters in the following T accounts in a job order cost accounting system:  Describe each of the six transactions.

Accepted Answer

(a)Direct and indirect materials are iss...

Question 10

Period costs are classified as either

Accepted Answer

A)  selling expenses or production expenses
B)  administrative expense or production expenses
C)  selling expenses or administrative expenses
D)  general expenses or selling expensesE) A) and D)
F) A) and C)

Question 11

Direct labor cost is an example of a period cost.

Accepted Answer

A) True 
 B)False

Question 12

Job order costing and process costing are

Accepted Answer

A)  pricing systems
B)  cost accounting systems
C)  cost flow systems
D)  inventory tracking systemsE) B) and D)
F) All of the above

Exam 16: Job Order Costing

Selected accounts with amounts omitted are as follows: If the balance of Work in Process on August 31 is $220,000, what was the amount debited to Work in Process for direct materials in August?

Correct Answer
verified

Journalizing the entry to record a job completed would include a debit to

Correct Answer
verified

Match each of the following costs with the appropriate classification (a-e). -Depreciation on office equipment A)Product cost - direct materials B)Product cost - direct labor C)Product cost - factory overhead D)Period cost - selling expense E)Period cost - administrative expense

Correct Answer
verified

The direct labor and overhead costs of providing services to clients are accumulated in a work in process account.

Correct Answer
verified

Period costs are classified as either

Correct Answer
verified

Costs that are treated as assets until the product is sold are

Correct Answer
verified

Which of the following would most likely use a job order costing system?

Correct Answer
verified

In a job order cost accounting system for a service business, materials costs are normally included as part of overhead.

Correct Answer
verified

Six selected transactions for the current month are indicated by letters in the following T accounts in a job order cost accounting system: Describe each of the six transactions.

Correct Answer
verified
(a)Direct and indirect materials are iss...
View Answer

Job order costing and process costing are

Correct Answer
verified

The debit to Factory Overhead for the cost of indirect materials is obtained from the summary of the materials requisitions.

Correct Answer
verified

Direct labor cost is an example of a period cost.

Correct Answer
verified

Exam 16: Job Order Costing

Selected accounts with amounts omitted are as follows: If the balance of Work in Process on August 31 is $220,000, what was the amount debited to Work in Process for direct materials in August?

Correct AnswerverifiedShow Answer

Journalizing the entry to record a job completed would include a debit to

Correct AnswerverifiedShow Answer

Match each of the following costs with the appropriate classification (a-e).​ -Depreciation on office equipment A)Product cost - direct materials B)Product cost - direct labor C)Product cost - factory overhead D)Period cost - selling expense E)Period cost - administrative expense

Correct AnswerverifiedShow Answer

The direct labor and overhead costs of providing services to clients are accumulated in a work in process account.

Correct AnswerverifiedShow Answer

Period costs are classified as either

Correct AnswerverifiedShow Answer

Costs that are treated as assets until the product is sold are

Correct AnswerverifiedShow Answer

Which of the following would most likely use a job order costing system?

Correct AnswerverifiedShow Answer

In a job order cost accounting system for a service business, materials costs are normally included as part of overhead.

Correct AnswerverifiedShow Answer

Six selected transactions for the current month are indicated by letters in the following T accounts in a job order cost accounting system: Describe each of the six transactions.

Correct Answerverified(a)Direct and indirect materials are iss...View AnswerShow Answer

Job order costing and process costing are

Correct AnswerverifiedShow Answer

The debit to Factory Overhead for the cost of indirect materials is obtained from the summary of the materials requisitions.

Correct AnswerverifiedShow Answer

Direct labor cost is an example of a period cost.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Match each of the following costs with the appropriate classification (a-e). -Depreciation on office equipment A)Product cost - direct materials B)Product cost - direct labor C)Product cost - factory overhead D)Period cost - selling expense E)Period cost - administrative expense

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
(a)Direct and indirect materials are iss...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified