A typical job-cost sheet would provide information about all the following items related to an order except:Select one:a. applied manufacturing overhead.b. direct labor costs incurred.c. the cost of direct materials used.d. administrative costs.

Job order costing is a method of estimating profit for each individual job manufactured by comparing…

Answered: A typical job-cost sheet would provide…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which of the following accounts would be debited to record the assignment of indirect materials? Group of answer choices Work-in-process inventory Manufacturing overhead Supplies expense Costs of goods sold
The cost of materials used on a specific job is first captured on which source document? Select one: O a. Materials requisition form Ob. Process cost sheet Oc. Labor time ticket Od. Cost driver sheet
In a job order cost accounting system, when goods that have been ordered are received, the receiving department personnel count, inspect the goods, and complete a a.
1. How does job order cost system differ from process costing? 2. Name and describe three major source documents used in job-costing system? 3. Identify the main difference between journal entries in process costing and job costing? 4. How does cost accounting function assist in the management of the business? 5. Name the three element of cost and explain
Job order costing and process costing both: O a. All the given answers are correct. O b. assign direct materials cost, direct labor cost, and manufacturing overhead costs to products. O c. compute product cost per unit in the same manner. O d. use the same manufacturing accounts, including Manufacturing Overhead, Raw Materials, Work in Process, and Finished Goods. e. both allocate applied manufacturing overhead cost to product cost.
In a job-order costing system, manufacturing overhead applied is recorded as a credit to: O a. None of the given answer is correct O b. Manufacturing Overhead. Work in Process inventory. O d. Finished Goods inventory. Fi е. Cost of Goods Sold.
Under process costing, the costs incurred by each department are reported in which of the following? Group of answer choices A job cost sheet The Cost of Goods Sold account The Finished Goods Inventory account A production cost report
Which of the following entries record the release of direct materials to productionin a job-order costing system?
Total manufacturing cost in a job-sheet for job-order costing, includes: a. Actual direct materials costs b. None of the given costs in the answers. С. Actual direct labor costs d. All of the given costs in the answers. e. Applied manufacturing overhead costs
The entry to record the application of Factory Overhead to Jobs in a Job Order Cost system would be: ODR: Factory Overhead CR: Work In Process DR: Finished Goods CR: Factory Overhead DR: Work In Process CR: Factory Overhead DR: Factory Overhead CR: Finished Goods
As production occurs, materials, direct labor, and applied manufacturing overhead are recorded in a.materials. b.cost of goods sold. c.finished goods. d.work in process.
Which of the following describes cost allocation? a. serves as the basis for recording materials used O b. process by which factory overhead is assigned to a cost object serves as the basis for recording direct labor on a job cost sheet O c. O d. completed when materials that have been ordered are received and inspected

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A typical job-cost sheet would provide information about all the following items related to an order except: Select one: a. applied manufacturing overhead. b. direct labor costs incurred. c. the cost of direct materials used. d. administrative costs.