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    Job Order Costing

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    jrblompon

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    Job Order Costing

    Uploaded by

    jrblompon
    2 views4 pages

    Original Title

    Job order Costing

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    Copyright:

    © All Rights Reserved
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    Download as docx, pdf, or txt
    2 views4 pages

    Job Order Costing

    Uploaded by

    jrblompon

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    15 MC QUESTIONS FINAL

    1. It is used to accumulate actual overhead incurred.


    A. Work in Process
    B. Factory Overhead Applied
    C. Factory Overhead Control
    Answer: C. Factory Overhead Control

    2. An account used for accumulating the total overhead charged to production during the
    period.
    A.Manufacturing Overhead Applied
    B. Manufacturing Overhead Control
    C. Over/Under Applied Overhead
    Answer: A. Manufacturing Overhead Applied

    3. It is an Account debited when materials are purchased is materials or stores and the
    account credited is accounts payable or vouchers payable
    a. Recording the issuance of materials
    b. Recording the purchase of materials
    c. Manufacturing Overhead Applied
    d. Manufacturing Overhead Control
    Answer : B

    4. When a job is started, the materials needed for the job are issued based on the materials
    requisitions prepared by the employees. A copy of requisitions is given to the store keeper
    which will serve as the basis for the materials to be issued.
    a. Recording the issuance of materials
    b. Recording the purchase of materials
    c. Factory Overhead Control
    d. None of the above
    Answer : A

    5. It is an account used to accumulate the cost of finished goods disposed through sale to
    customers.
    A. Work in process; B. Cost of goods sold; C. Factory overhead control; D. Factory overhead
    applied
    Answer: Cost of goods sold

    6. The ____ account is used to charge the jobs with the direct labor cost.
    A. Work in process; B. Cost of goods sold; C. Factory overhead control; D. Factory overhead
    applied
    Answer: A. Work in Process

    7. The most common treatment of under or over applied overhead is to close it to:
    A. Work in Process
    B. Retrained Earnings
    C. Cost of Good Sold
    D. Finished Goods
    Answer: C.

    8. It is used even if there is actual factory overhead.


    A. Work in process; B. Cost of goods sold; C. Factory overhead control; D. Factory overhead
    applied
    Answer: Factory overhead applied

    10. In stockroom of direct materials previously issued to production for retum particular job?

    a. debit Materials and credit Factory Overhead


    b. debit Materials and credit Work in Process
    C. debit Purchase Returns and credit Work in Process
    d. debit Work in Process and credit Materials
    Answer: B

    11. Under a job-order costing system, the peso amount of the entry involved transfer of
    inventory from work in process to finished goods is the sum costs charged to all jobs.

    a. started in process during the period


    b. in process during the period
    C. completed and sold during the period
    d. completed during the period
    Answer: D

    12. It is used as the basis in computing the gross earnings of employees who are paid hourly
    wages.
    A. Clock card
    B. Time tickets
    C. Payroll
    D. Payment of wages
    Answer: A. Clock card

    13. Which of the following is the basic document that in used to accumulate the cost of catch
    order in job order costing:

    a. Invoice
    b. Purchase order
    C. Requisition sheet
    d. Job Cost sheet
    Answer : D
    14. What is the best cost accumulation procedure to use when many batches, catch differing
    as to product specification, are produced?

    a Job order
    b. Process
    c. Actual
    d. Standard
    Answer: A

    15. The ____________ for various jobs are sorted, priced, and summarized, and the hours
    should be reconciled with the clock card hours.
    A. Clock card
    B. Time tickets
    C. Payroll
    D. Payment of wages
    Answer: B. Time tickets

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