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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Falkenstein Corporation uses a job-order costing system and has provided the following partially completed T-account summary for the past year.
Required:
What was the cost of indirect materials requisitioned for use in production during the year?


(Essay)
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Cai Corporation uses a job-order costing system and has provided the following partially completed T-account summary for the past year.
The cost of indirect materials requisitioned for use in production during the year was:


(Multiple Choice)
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Faughn Corporation has provided the following data concerning manufacturing overhead for July:
The company's Cost of Goods Sold was $243,000 prior to closing out its Manufacturing Overhead account.The company closes out its Manufacturing Overhead account to Cost of Goods Sold.Which of the following statements is true?

(Multiple Choice)
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In the Schedule of Cost of Goods Manufactured, Cost of goods manufactured = Total manufacturing costs + Beginning work in process inventory - Ending work in process inventory.
(True/False)
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Blasi Corporation is a manufacturer that uses job-order costing.The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year.The company has supplied the following data for the just completed year:
Results of operations:
Required:
a.What is the total manufacturing cost added to Work in Process during the year?
b.What is the cost of goods available for sale during the year?
c.What is the net operating income for the year?


(Essay)
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Rodenberger Corporation has provided the following data concerning last month's operations.
Required:
Determine the direct materials cost for the month.


(Essay)
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Able Corporation uses a job-order costing system.In reviewing its records at the end of the year, the company has discovered that $2,000 of raw materials has been drawn from the storeroom and used in the production of Job 110, but that no entry has been made in the accounting records for the use of these materials.Job 110 has been completed but it is unsold at year end.This error will cause:
(Multiple Choice)
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Sagon Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of September.Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $76,000 and the total of the credits to the account was $66,000.Which of the following statements is true?
(Multiple Choice)
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Tusa Corporation is a manufacturer that uses job-order costing.The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year.The company has supplied the following data for the just completed year:
Results of operations:
The adjusted Cost of Goods Sold for the year is:


(Multiple Choice)
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The journal entry to record the application of Manufacturing Overhead to Work in Process would include a:
(Multiple Choice)
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In the Schedule of Cost of Goods Sold, Cost of goods available for sale = Ending finished goods inventory + Cost of goods manufactured.
(True/False)
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Lister Corporation is a manufacturer that uses job-order costing.The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year.The company has supplied the following data for the just completed year:
Results of operations:
The total amount of manufacturing overhead applied to production is:


(Multiple Choice)
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Weatherhead Inc.has provided the following data for the month of March.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 $3,000.
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 work in process inventory at the end of March after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to:

(Multiple Choice)
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During June, Briganti Corporation purchased $79,000 of raw materials on credit to add to its raw materials inventory.A total of $64,000 of raw materials was requisitioned from the storeroom for use in production.These requisitioned raw materials included $4,000 of indirect materials.
Required:
Prepare journal entries to record the purchase of materials and their use in production.
(Essay)
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Weyant Corporation has provided the following data concerning last month's operations.
The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold.How much is the adjusted cost of goods sold on the Schedule of Cost of Goods Sold?


(Multiple Choice)
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The debits to the Work in Process account as a consequence of the raw materials transactions in November total:
(Multiple Choice)
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Tondre Corporation has provided the following data concerning last month's operations.
Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.
Required:
a.Determine the cost of goods manufactured for the month.
b.Prepare a Schedule of Cost of Goods Sold for the month.


(Essay)
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Coatney Inc.has provided the following data for the month of October.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 $7,000. 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 finished goods inventory at the end of October after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to:

(Multiple Choice)
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In a job-order costing system, which of the following events would trigger recording data on a job cost sheet?
(Multiple Choice)
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