Acc 349
Psy320 - 1) What is the best way to handle manufacturing overhead costs in order to get the most timely job cost information?
2) At the end of the year, manufacturing overhead has been overapplied. What occurred to create this situation?
Psy 320 - 3) Luca Company overapplied manufacturing overhead during 2006. Which one of the following is part of the year end entry to dispose of the overapplied amount assuming the amount is material
4) Which of the following would be accounted for using a job order cost system?
5) Which one of the following is NEVER part of recording the issuance of raw materials in a job order cost system?
Acc349 - Finished Goods Inventory is debited when goods are transferred from work in process to finished goods, not when raw materials are issued for a job.
6. What is unique about the flow of costs in a job order cost system?
7) Which one of the following costs would be included in manufacturing overhead of a lawn mower manufacturer?
Acc 349 - Depreciation on testing equipment would be included in manufacturing overhead because it is indirectly associated with the finished product.
8) What broad functions do the management of an organization perform?
9) Which of the following represents the correct order in which inventories are reported on a manufacturer’s balance sheet?
10) In traditional costing systems, overhead is generally applied based on
11) An activity that has a direct cause-effect relationship with the resources consumed is a(n)
12) A well-designed activity-based costing system starts with
13) Which of the following factors would suggest a switch to activity-based costing?
14) All of the following statements are correct EXCEPT that
15) What sometimes makes implementation of activity-based costing difficult in service industries is
Acc 349
2) At the end of the year, manufacturing overhead has been overapplied. What occurred to create this situation?
Psy 320 - 3) Luca Company overapplied manufacturing overhead during 2006. Which one of the following is part of the year end entry to dispose of the overapplied amount assuming the amount is material
4) Which of the following would be accounted for using a job order cost system?
5) Which one of the following is NEVER part of recording the issuance of raw materials in a job order cost system?
Acc349 - Finished Goods Inventory is debited when goods are transferred from work in process to finished goods, not when raw materials are issued for a job.
6. What is unique about the flow of costs in a job order cost system?
7) Which one of the following costs would be included in manufacturing overhead of a lawn mower manufacturer?
Acc 349 - Depreciation on testing equipment would be included in manufacturing overhead because it is indirectly associated with the finished product.
8) What broad functions do the management of an organization perform?
9) Which of the following represents the correct order in which inventories are reported on a manufacturer’s balance sheet?
10) In traditional costing systems, overhead is generally applied based on
11) An activity that has a direct cause-effect relationship with the resources consumed is a(n)
12) A well-designed activity-based costing system starts with
13) Which of the following factors would suggest a switch to activity-based costing?
14) All of the following statements are correct EXCEPT that
15) What sometimes makes implementation of activity-based costing difficult in service industries is
Acc 349