Exam 3: Job-Order Costing: Cost Flows and External Reporting
Exam 1: Managerial Accounting and Cost Concepts299 Questions
Exam 2: Job-Order Costing: Calculating Unit Product Costs292 Questions
Exam 3: Job-Order Costing: Cost Flows and External Reporting256 Questions
Exam 4: Activity-Based Costing230 Questions
Exam 5: Process Costing6 Cost-Volume-Profit Relationships139 Questions
Exam 6: Cost-Volume-Profit Relationships260 Questions
Exam 7: Variable Costing and Segment Reporting: Tools for Management291 Questions
Exam 8: Master Budgeting236 Questions
Exam 10: Performance Measurement in Decentralized Organizations180 Questions
Exam 11: Differential Analysis: The Key to Decision Making203 Questions
Exam 12: Capital Budgeting Decisions179 Questions
Exam 9: Flexible Budgets Standard Costs and Variance Analysis461 Questions
Exam 13: Statement of Cash Flows132 Questions
Exam 14: Financial Statement Analysis289 Questions
Exam 15: Job-Order Costing: Cost Flows and External Reporting28 Questions
Exam 16: Process Costing6 Cost-Volume-Profit Relationships100 Questions
Exam 17: Cost-Volume-Profit Relationships82 Questions
Exam 18:Flexible Budgets, Standard Costs, and Variance Analysis177 Questions
Exam 19: Flexible Budgets, Standard Costs, and Variance Analysis140 Questions
Exam 20: A Capital Budgeting Decisions16 Questions
Exam 21: A Statement of Cash Flows56 Questions
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The ending balance in the Work in Process inventory account is:
(Multiple Choice)
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If the estimated manufacturing overhead for the year was $24,000, and the applied overhead was $26,500, the actual manufacturing overhead cost for the year was:
(Multiple Choice)
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Refer to the T-account below:
Entry (12)could represent which of the following?

(Multiple Choice)
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The work in process inventory at the end of November after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to:
(Multiple Choice)
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If the actual manufacturing overhead cost for a period exceeds the manufacturing overhead cost applied, then manufacturing overhead would be considered to be overapplied.
(True/False)
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Shane Corporation has provided the following data concerning last month's operations.
How much is the unadjusted cost of goods sold on the Schedule of Cost of Goods Sold?


(Multiple Choice)
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Haver Corporation has provided the following data concerning last month's operations.
How much is the cost of goods available for sale on the Schedule of Cost of Goods Sold?


(Multiple Choice)
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How much is the direct materials cost for the month on the Schedule of Cost of Goods Manufactured?
(Multiple Choice)
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How much is the total manufacturing cost added to work in process during the year?
(Multiple Choice)
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In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the cost of goods manufactured is computed according to which of the following equations?
(Multiple Choice)
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Seuell Inc.has provided the following data for the month of December.There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month.
Manufacturing overhead for the month was overapplied by $12,000.
The Corporation allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts.
The journal entry to record the allocation of any underapplied or overapplied manufacturing overhead for December would include the following:

(Multiple Choice)
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Bledsoe Corporation has provided the following data for the month of November:
Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.
Required:
Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.


(Essay)
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Dotsero Technology, Inc., has a job-order costing system.The company uses predetermined overhead rates in applying manufacturing overhead cost to individual jobs.The predetermined overhead rate in Department A is based on machine-hours, and the rate in Department B is based on direct materials cost.At the beginning of the most recent year, the company's management made the following estimates for the year:
Job 243 entered into production an April 1 and was completed on May 12.The company's cost records show the following information about the job:
At the end of the year, the records of Dotsero showed the following actual cost and operating data for all jobs worked on during the year:
Required:
a.Compute the predetermined overhead rates for Department A and Department B.
b.Compute the total overhead cost applied to Job 243.
c.Compute the amount of underapplied or overapplied overhead in each department at the end of the current year.



(Essay)
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The applied manufacturing overhead for the year was closest to:
(Multiple Choice)
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Entry (1)in the below T-account represents the purchase rather than use of raw materials. 

(True/False)
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If Omar Corporation applies overhead to jobs on the basis of direct labor-hours and Job 3 took 120 hours, how much overhead should be applied to that job?
(Multiple Choice)
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In the Schedule of Cost of Goods Manufactured and Cost of Goods Sold, the "Total raw materials available" is computed by adding together the "Beginning raw materials inventory" and:
(Multiple Choice)
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