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Question(s) / Instruction(s):

Question 1

The production activities for a customized product represent a(n):
Answer
Operation.
Job.
Unit.
Pool.
Process.

. 1 points
Question 2
Question 2

A job order cost accounting system would best fit the needs of a company that makes:
Answer
Shoes and apparel.
Paint.
Cement.
Custom machinery.
Pencils and erasers.

. 1 points
Question 3
Question 3

Dell Builders manufactures each house to customer specifications. It most likely would use:
Answer
Capital process costing.
A periodic inventory system.
Unique costing.
Job order costing.
Activity-based costing.

. 1 points
Question 4
Question 4

A job order production system would be appropriate for a company that produces which one of the following items?
Answer
A landscaping design for a new hospital.
Seedlings for sale in a nursery.
Sacks of yard fertilizer.
Packets of flower seeds.
Small gardening tools, including rakes, shovels, and hoes.

. 1 points
Question 5
Question 5

A document in a job order cost accounting system that is used to record the costs of producing a job is a(n):
Answer
Job cost sheet.
Job lot.
Finished goods summary.
Process cost system.
Units-of-production sheet.

Question 7

A job cost sheet includes:
Answer
Direct materials, direct labor, operating costs.
Direct materials, overhead, administrative costs.
Direct labor, overhead, selling costs.
Direct material, direct labor, overhead.
Direct materials, direct labor, selling costs.

. 1 points
Question 8
Question 8

A perpetual record of a raw materials item that records data on the quantity and cost of units purchased, units issued for use in production, and units that remain in the raw materials inventory, is called a(n):
Answer
Materials ledger card.
Materials requisition.
Purchase order.
Materials voucher.
Purchase ledger.

. 1 points
Question 9
Question 9

A company that uses a job order cost accounting system would make the following entry to record the flow of direct materials into production:
Answer
debit Work in Process, credit Cost of Goods Sold
debit Work in Process, credit Materials
debit Work in Process, credit Factory Overhead
debit Factory Overhead, credit Materials
debit Finished Goods, credit Materials
1 points
Question 11
Question 11

Labor costs in production can be:
Answer
Direct or indirect.
Indirect or sunk.
Direct or payroll.
Indirect or payroll.
Direct or sunk.

. 1 points
Question 12
Question 12

A company has an overhead application rate of 125% of direct labor costs. How much overhead would be allocated to a job if it required total labor costing $20,000?
Answer
$ 5,000.
$ 16,000.
$ 25,000.
$125,000.
$250,000.

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