Question 16: On the schedule of cost of goods manufactured: a. beginning work-in-process plus direct

Question 16:

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.

Question 17:

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.

Question 18:

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.

Question 19:

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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