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Which of the following is a characteristic of job-order costing Mass production of identical products

Which of the following is a characteristic of job-order costing?

a.Mass production of identical products

b.Unit cost is computed by dividing process costs of the period by the units produced in the period.

c.Unit cost is computed by dividing total job costs by units sold on that job.

d.The cost of one job is typically different from that of another job.

 

 

 

2.How are unit costs calculated?

a.by dividing total cost associated with the units produced by the unit cost

b.by adding all variable costs per unit associated with the units produced

c.by dividing total fixed costs by the number of units produced

d.by dividing total cost associated with the units produced by the number of units produced

 

 

 

3.Which of the following is a production cost in a computer manufacturing company?

a.CEO salary

b.wages for the secretary to the controller

c.variable overhead

d.selling costs

 

 

 

4.Which of the following costs are easy to trace to individual jobs?

a.direct materials and overhead

b.direct materials and direct labour

c.direct labour and overhead

d.overhead and indirect labour

 

 

 

5.Which of the following types of businesses is most likely to use a process-costing system?

a.printing

b.dental

c.construction

d.petroleum

 

 

 

6.Which statement about job-order costing is correct?

a.It is used in firms that produce homogeneous products.

b.The total cost of each job is accumulated on the time card.

c.The key document for accumulating manufacturing costs is the job-order cost sheet.

d.The costs are collected by department.

 

 

 

7.In normal costing, how are direct materials, direct labour, and overhead costs assigned?

a.Actual direct materials, actual direct labour, and actual overhead cost are assigned to products.

b.Actual direct materials cost is assigned to products, but direct labour and overhead costs are assigned using predetermined rates.

c.Actual direct labour cost is assigned to products, but direct material and overhead costs are assigned using predetermined rates.

d.Actual direct material and direct labour costs are assigned to products, but overhead costs are assigned using predetermined rates.

 

 

 

8.What does manufacturing overhead consist of?

a.all costs other than direct materials

b.all manufacturing costs other than direct materials

c.all costs other than direct materials and direct labour

d.all manufacturing costs other than direct materials and direct labour

 

 

 

9.What costs are used in a normal job-order costing system?

a.actual costs for direct materials, estimated costs for direct labour, and actual costs for overhead

b.estimated costs for direct materials, direct labour, and overhead

c.actual costs for direct materials and direct labour, and estimated costs for overhead

d.estimated costs for direct materials, actual labour, and overhead

 

 

 

10.Which of the following methods of measuring costs associated with production is more widely used in practice?

a.normal costing

b.actual costing

c.Both are used equally.

d.Neither one is used.

Mar 13 2020 View more View Less

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