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JOB ORDER COSTING MULTIPLE CHOICE 1. Which of the following organizations would be most likely to use a job-order costing system? a.the loan department of a bank b.the check clearing department of a bank c.A manufacturer of processed cheese food d.A manufacturer of video cassette tapes ANS: A 2. When job-order costing is used, the primary focal point of cost accumulation is the a.department. b.supervisor. c.item. d.job. ANS: D 3. In a job-order costing system, a.standards cannot be used. b.an average cost per unit within a job cannot be computed. c.costs are accumulated by departments and averaged among all jobs. d.overhead is typically assigned to jobs on the basis of some cost driver. ANS: D 4. What is the best cost accumulation procedure to use when many batches, each differing as to product specifications, are produced? a.job-order b.process c.actual d.standard ANS: A 5. Which of the following could not be used in job-order costing? a.Standards b.an average cost per unit for all jobs c.normal costing d.overhead allocation based on the job's direct labor hours ANS: B 6. Which of the following costing systems allows management to quickly recognize materials, labor, and overhead variances and take measures to correct them? JOB ORDER COSTING TRUE/FALSE 1.A company that produces sugar will use a job order costing system to track production costs. ANS:F 2.A company that produces sugar will use a process costing system to track production costs. ANS:T 3.A company that manufactures custom bridal gowns will use a job order costing system to track production costs ANS:T 4.A company that manufactures custom bridal gowns will use a process costing system to track costs. ANS:F 5.A company that manufactures small quantities of identifiable products will use a job order costing system ANS:T 6.A company that manufactures small quantities of identifiable products will use a process costing system ANS:F 7.A company that manufactures large quantities of homogenous goods will use a process costing system. ANS:T 8.In an actual job order costing system, factory overhead is assigned to a job on a periodic basis. ANS:T 9.A company that manufactures large quantities of homogenous goods will use a job order costing system. ANS:F 10.Cost flows and physical flows of units are identical. ANS:F Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. Why is this page out of focus?This is a Premium document. Become Premium to read the whole document. What type of business would most likely to use a job order costing system?Companies in the white-collar sector of business, including law firms, accounting businesses, and private investment companies, can utilize job order costing to manage individual client accounts. For example, accounting firms can consider each individual client a job.
Which type of business would be most likely to use a job order costing system quizlet?Elizabeth's Custom Furniture Company is most likely to use job order costing. Job order costing is used by companies that will produce a "made-to-order" product or small batches of a particular product.
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