Total manufacturing cost includes: Select one: O a. direct labour and manufacturing overhead in both a job costing and a process costing system. O b. direct material, direct labour and manufacturing overhead in both job costing and process costing. direct labour and manufacturing overhead in a process costing system. O d. direct material and direct labour in a job costing system.

Total manufacturing cost includes: Select one: O a. direct labour and manufacturing overhead in both a job costing and a process costing system. O b. direct material, direct labour and manufacturing overhead in both job costing and process costing. direct labour and manufacturing overhead in a process costing system. O d. direct material and direct labour in a job costing system.

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Description: Total manufacturing cost includes:Select one:tofO a.direct labour and manufacturing overhead in both a job costing and aestionprocess costing system.O b. direct material, direct labour and manufacturing overhead in both jobcosting and process costin

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 17MC: Under absorption costing, a unit of product includes which costs? A. direct material, direct labor,...

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When using job order costing for a professional service business, the primary product (service) costs are: A.Direct Materials and Overhead B.Direct Materials and Direct Labor C.Direct Materials. Direct Labor, and Overhead D. Direct Labor and Overhead
During production, to what are the costs in job order costing applied? A. manufacturing overhead B. cost of goods sold C. each individual product D. each individual department
During production, how are the costs in process costing accumulated? A. to cost of goods sold B. to each individual product C. to manufacturing overhead D. to each individual department
Which of the following product situations is better suited to job order costing than to process costing? A. Each product batch is exactly the same as the prior batch. B. The costs are easily traced to a specific product. C. Costs are accumulated by department. D. The value of work in process is based on assigning standard costs.
In a job order cost system, raw materials purchased are debited to which account? A. raw materials inventory B. work in process inventory C. finished goods inventory D. cost of goods sold
In a job order cost system, indirect labor incurred is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
Which is the correct formula for computing the overhead rate? A. estimated use of the cost driver for production/estimated overhead for the activity B. estimated overhead for the product/estimated use of the cost driver for the activity C. estimated use of the cost driver for production/estimated overhead for the activity D. estimated overhead for the activity/estimated use of the cost driver for the activity
In a normal costing system, the cost of a job includes a. actual direct materials, actual direct labor, and estimated (applied) overhead. b. estimated direct materials, estimated direct labor, and estimated overhead. c. actual direct materials, actual direct labor, actual overhead, and actual selling cost. d. actual direct materials, actual direct labor, and actual overhead. e. None of these. Job-order costing requires the use of actual, not normal, costing.
Which of the following is a prime cost? A. direct labor B. work in process inventory C. administrative labor D. factory maintenance expenses
In a process costing system, which account shows the overhead assigned to the department? A. cost of goods sold B. finished goods inventory C. raw material inventory D. work in process inventory
If a job order cost system tracks the direct materials and direct labor, why doesn't It track the actual overhead used for a specific job?
In job order cost accounting, the three elements of manufacturing cost are charged directly to job orders. Why is it not necessary to charge manufacturing costs in process cost accounting to job orders?