Job order costin - Study guides, Class notes & Summaries

ACCO 330 Test Bank - Chapter 4 Job Order Costing Multiple Choice 2024 Concordia University

d101 Unit 2 job order costing test questions with 100- correct answers.

CH. 2 - JOB ORDER COSTING: CALCULATING UNIT PRODUCT COSTS QUESTIONS WITH CORRECT ANSWERS An allocation base is a(n): CORRECT ANSWER Measure of activity used to assign overhead costs to products and services Allocation CORRECT ANSWER Used to assign overhead costs to products by selecting an allocation base that is the same for all products. Widely used allocation bases in manufacturing are: CORRECT ANSWER Machine hours, direct labor hours, units of product, direct labor cost Predetermin...

Test Bank - Chapter 3 Job Order Costing.

ACCY 200 CQ7 UPDATED ACTUAL Exam Questions and CORRECT Answers In order to achieve higher quality cost information from the assignment of overhead costs to products manufactured, the use of a predetermined overhead rate is being replaced by: - job order costing. - activity-based costing. - absorption costing. - process costing. - CORRECT ANSWER - activity-based costin

Managerial Accounting, 7th Edition James Jiambalvo Complete Test Bank. TABLE OF CONTENTS 1 Managerial Accounting in the Information Age 1-1 Goal of Managerial Accounting 1-2 Cost Terms Used in Discussing Planning, Control, and Decision Making 1-7 Two Key Ideas in Managerial Accounting 1-10 The Information Age and Managerial Accounting 1-13 Ethical Considerations in Managerial Decision Making 1-17 The Controller as the Top Management Accountant 1-20 Chapter Review: Summary of Learning...

CMA 3A Introduction to Managerial Accounting Test Bank Chapter 02 -Job Order Costing True / False Questions 1. The use of predetermined overhead rates in a job-order cost system makes it possible to estimate the total cost of a given job as soon as production is completed. True False 2. A job cost sheet is used to accumulate costs charged to a job. True False 3. The following journal entry would be made to apply overhead cost to jobs in a job-order costing system: Tru...

An allocation base is a(n): CORRECT ANSWER Measure of activity used to assign overhead costs to products and services Allocation CORRECT ANSWER Used to assign overhead costs to products by selecting an allocation base that is the same for all products. Widely used allocation bases in manufacturing are: CORRECT ANSWER Machine hours, direct labor hours, units of product, direct labor cost Predetermined overhead rate CORRECT ANSWER = Estimated manufacturing overhead/ estimated allocation b...

Managerial Accounting Garrison Noreen TB Test Bank Chapter 3 Job Order Costing: Cost Flows and External Reporting

Job-order costing would be more likely to be used than process costing in situations where many different products or services are produced each period to customer specifications. Job-order costing is used in manufacturing companies and process costing is used in service firms. 3. F Easy In a job-order costing system, costs are traced to departments and then allocated to units of product using an average process. 4. F Medium Normally a job cost sheet is not prepared for a job unt...