Reference no: EM13776490
1. On the schedule of cost of goods manufactured:
a. beginning work-in-process plus direct materials used equals manufacturing costs.
b. cost of goods manufactured is the same thing as total manufacturing costs.
c. work-in-process will necessarily increase if total manufacturing costs increase.
d. factory overhead plus beginning work-in-process equals manufacturing costs.
e. None of these.
2. Which costing method seems ideally suited to the production of homogenous products in continuous throughput?
a. Activity-based costing.
b. Job order costing.
c. Process costing.
d. Absorption costing.
e. None of these.
3. Frick Company uses a job order cost system and applies overhead based on estimated rates. The overhead application rate is based on total estimated overhead costs of $200,000 and direct labor hours of 50,000. For job 836, direct labor hours were 800.
a. Factory Overhead should be debited for $3,200.
b. Factory Overhead should be credited for $3,200.
c. Overhead Expense should be debited for $3,200.
d. Overhead Expense should be credited for $3,200.
e. None of these.
4. For job 1838, there were 1,000 direct labor hours, and actual overhead was $500 for depreciation and $1,400 for indirect labor. Overhead is applied at $2 per direct labor hour. Which account should be debited for $1,900?
a. Work in Process.
b. Cost of Goods Sold.
c. Factory Overhead.
d. Cost of Goods Manufactured.
e. None of these.
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