成本管理会计练习chap05

Chapter 5

1. Manufacturing companies use job-order costing and service companies use process costing. a. True b. False

2. A automobile body shop will use job-order costing. a. True b. False

3. Information in job cost sheets includes actual materials, actual labor, and actual overhead. a. True b. False

4. The source document used to assign direct materials to a job is the job cost sheet. a. True b. False

5. Indirect materials are not assigned to a specific job but are included in manufacturing overhead. a. True b. False

6. Overhead is applied to jobs using a predetermined overhead rate. a. True b. False

7. Job-order costing only uses the functional-based costing system to assign

overhead. a. True b. False

8. When a job is started and materials worth $150 are issued to the job, this information is recorded in the job cost sheet. The $150 will flow through work in process. a. True b. False

9. If a company applies overhead to jobs on the basis of a predetermined overhead rate, an unfavorable variance at the end of any period means that the

overhead charged to jobs for the period is more than the actual overhead cost for the period. a. True b. False

10. Both work in process and finished inventories are carried at normal cost. a. True b. False

11. When is job-order costing used? a. products or services are homogeneous b. wide variety of distinct products or services c. costs are accumulated by process.

d. all of the above

12. Process costing would more likely used by which type of company? a.

construction b. clothing manufacturer c. airplane d. chemical

13. When direct labor is performed for each job, the cost of direct labor first flows through: a. manufacturing overhead b. work in process

c. finished goods

d. cost of goods sold

14. Which of the following serves as a subsidiary ledger to support work in

process? a. materials requisition form b. job time tickets c. job-order cost sheet d. inventory ledger

15. Ditwell Company has a predetermined overhead rate of $1.25 per direct labor hour. The actual direct labor hours for the year were 10,500 hours and the actual overhead costs incurred were $13,120. The amount of the variance should be closed to: a. manufacturing overhead b. work in process c. cost of goods sold d. all of the above 13125

16. Loomis Company applies overhead to jobs on the basis of $15 per direct labor hour. If Job 983 shows $9,825 of manufacturing overhead applied, how many direct labor hours did Job 983 used?

a. 655 hours

b. 700 hours

c. 147 hours

d. 600 hours

17. Digger Manufacturing uses a job-order cost system. The following data were recorded for June:

Overhead is charged to production at 50% of the direct labor cost. Job 233 and 235 are completed and have been delivered to the customer. D igger’s

work-in-process inventory balance on June 30 was:

a. $2,575

b. $925

c. $1,075

d. $700

18. Digger Manufacturing uses a job-order cost system. The following data were recorded for June: