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19.
Costs that flow directly to the current income statement are called:
a. General costs.
b. Product costs.
c. Period costs.
d. Balance sheet costs.
38. The following information from Hardy Co. for the current year: Direct materials used: $5,000;
Direct Labor: $7,000; Total Factory overhead: $5,100; Beginning goods in process: $3,000; Ending
goods in process: $4,000.. Hardy Co.'s cost of goods manufactured for the current year is:
a. $12,000.
b. $18,100.
c. $16,100. =5000+7000+5100
d. $17,100.
102. Costs that the manager does not have the power to determine or at least strongly influence are:
a. Indirect costs.
b. Variable costs.
c. Direct costs.
d. Uncontrollable costs.
94. A production department’s output for the most recent month consisted of 10,000 units completed
and transferred to the next stage of production and 10,000 units in ending goods in process
inventory. The units in ending goods in process inventory were 50% complete with respect to both
direct materials and conversion costs. There were 1,000 units in beginning goods in process
inventory, and they were 70% complete with respect to both direct materials and conversion costs.
Calculate the equivalent units of production for the month, assuming the company uses the weighted
average method.
a. 10,000 units.
b. 10,300 units.
c. 15,000 units.
d. 15,300 units.
59. The job order cost sheets used by Garza Company revealed the following: Job. No 124: Bal,
May 1 $1,700; May Production costs: 0; Job. No 125: Bal, May 1 $1,200, May Production costs
$300; Job. No 126: Bal, May 1: 0, May production cost: $900. Job No. 125 was completed during
May and Jobs No. 124 and 125 were shipped to customers in May. What were the company's cost
of goods sold for May and the goods in process inventory on May 31?
a. $1,700; $1,200.
b. $1,200; $2,900.
c. $2,900; $1,200.
d. $3,200; $ 900.
44. Use the following data to determine the cost of goods manufactured: Beginning finished goods
inventory: $ 10,800; Direct labor: $30,600; Beginning goods in process inventory: $7,200; General
and administrative expenses: $13,500; Direct materials used: $40,500; Ending goods in process
inventory: $9,000; Indirect labor: $6,300; Ending finished goods inventory: $9,500; Indirect materials:
$13,500; Depreciation – factory equipment: $7,500.
a. $110,100.
b. $113,700.
c. $ 96,600.
d. $102,000.
7. Labor costs that are clearly associated with specific units or batches of product because the labor
is used to convert raw materials into finished products called are:
a. Sunk labor.
b. Indirect labor.
c. Finished labor.
d. Direct labor.
39. Total manufacturing costs incurred during the year do not include:
a. Factory supplies used.
b. Direct labor.
c. Goods in process inventory, beginning balance.
d. Direct materials used.
82. Aniston Enterprises manufactures stylish hats. All materials are introduced at the beginning of
the manufacturing process. Conversion costs are incurred uniformly throughout the manufacturing
process. Information for the process for the month of May 2007 follows: Goods in Process, April 30:
50,000 units (100% complete for direct materials; 40% complete for conversion costs); ----------Actual
costs of direct materials was $70,500; actual conversion costs were $34,050;--------------Units started
in May: 225,000 units;-------- Units completed in May: 200,000 units;--------- Goods in Process, May
31: 75,000 units (100% complete for direct materials; 20% complete for conversion costs).
-------------Direct materials added in May $342,000 actual costs; Conversion costs added in May
$352,950 actual costs. If Aniston Enterprises uses the FIFO method of process costing, the costs
per equivalent unit for May 2007 were:
a. Direct Materials : $1.71 Conversion Costs: $1.81
b. Direct Materials : $1.50 Conversion Costs: $1.76
c. Direct Materials : $1.52 Conversion Costs: $1.81
d. Direct Materials : $1.83 Conversion Costs: $1.72
17. Period costs for a manufacturing company would flow directly to:
a. The current income statement.
b. Job cost sheet.
c. The current balance sheet.
d. Factory overhead.
101. Costs that the manager has the power to determine or at least strongly influence are called:
a. Joint costs.
b. Uncontrollable costs.
c. Direct costs.
d. Controllable costs.
79. Which of the following is not one of the four steps in accounting for production activity in a
period?
a. Analyze equivalent units.
b. Determine over or underapplied overhead.
c. Analyze the physical flow of units.
d. Determine cost per equivalent unit.
99. Expenses that are not easily associated with a specific department, and which are incurred for
the benefit of more than one department, are:
a. Fixed expenses.
b. Direct expenses.
c. Indirect expenses.
d. Uncontrollable expenses.
18. Costs that are first assigned to inventory are called:
a. Administrative costs.
b. Period costs.
c. General costs.
d. Product costs.
21. Products that have been completed and are ready to be sold by the manufacturer are called:
a. Cost of goods sold.
b. Raw materials inventory.
c. Goods in process inventory.
d. Finished goods inventory.
64. A company has an overhead application rate of 125% of direct labor costs. How much overhead
would be allocated to a job if it required total labor costing $20,000?
a. $125,000.
b. $ 5,000.
c. $ 16,000.
d. $ 25,000.
13. Which of the following is never included in direct materials costs?
a. Invoice costs of direct materials.
b. Materials storage costs.
c. Outgoing delivery charges.
d. Materials handling costs.
87. The following data are available for a company's manufacturing activities: Beginning goods in
process inventory: 5,000 units, 1/4 of the labor added this period; Units started and completed:
15,000; Ending goods in process inventory: 6,000 units, 1/2 of the labor added this period. Using
Fifo, If materials are added when the production process begins and direct labor is applied uniformly
throughout the process, what are the equivalent units for direct materials and for direct labor,
respectively?
a. 21,000; 19,250.
b. 16,250; 19,250.
c. 16,250; 21,750.
d. 19,250; 18,750.
20. Product costs:
a. Are expenditures necessary and integral to finished products.
b. Are expenditures identified more with a time period rather than with finished products.
c. Include selling and administrative expenses.
d. Are costs that vary with the volume of activity.
51. The two basic types of cost accounting systems are:

a. Job order costing and customized service costing.
b. Job order costing and perpetual costing.
c. None of the above
d. Job order costing and customized product costing.
22. Goods a company acquires to use in making products are called:
a. Finished goods inventory.
b. Cost of goods sold.
c. Goods in process inventory.
d. Raw materials inventory.
72. The Goods in Process Inventory account of a manufacturing company that uses an overhead
rate based on direct labor cost has a $4,400 debit balance after all posting is completed. The cost
sheet of the one job still in process shows direct material cost of $2,000 and direct labor cost of
$800. Therefore, the company's overhead application rate is:
a. 40%.
b. 50%.
c. All are incorrect.
d. 80%.
a. Factory overhead.
b. Job cost sheet.
c. The current income statement.
d. The current balance sheet.
50. In comparison to a general accounting system for a manufacturing company, a cost accounting
system places an emphasis on:
a. Periodic inventory counts.
b. Total costs.
c. Products and average costs.
d. Unit costs and cost control.
47. The following information pertains to the Hewett Corporation: Beginning Direct Materials:
$30,000; Ending Direct Materials: $70,000; Beginning Goods in Process Inventory: $40,000; Ending
Goods in Process Inventory: $46,000; Beginning Finished Goods Inventory: $72,000; Ending
Finished Goods Inventory: $68,000; Cost of Goods Manufactured for the period: $246,000. What is
the cost of goods sold for the period?
a. $250,000.
b. $290,000.
c. $242,000.
d. $258,000.
20. Product costs:
b. Include selling and administrative expenses.
c. Are expenditures identified more with a time period rather than with finished products.
d. Are costs that vary with the volume of activity.
3. Flexibility of practice when applied to managerial accounting means that
a. The managerial accountants need to be on call twenty-four hours a day.
b. The information must be presented in electronic format so that it is easily changed.
c. The design of a company's managerial accounting system largely depends on the nature of the
business and the arrangement of the internal operations of the company.
d. Managers must be willing to accept the information as the accountants present it to them, rather than
in the format they ask for.
77. A measure of the productivity of a process with respect to its use of direct materials, direct labor,
or overhead, and an expression of the activity of a process as the number of units that would have
been processed during a period if all effort had been applied to units that were started and finished
during the period, is called:
a. A job cost sheet.
b. Units in process.
c. Equivalent units of production.
d. Manufacturing overhead.
31. Juliet Corporation has accumulated the following accounting data for the year: Finished goods
inventory, January 1: $3,200; Finished goods inventory, December 31: $4,000; Total cost of goods
sold: $4,200. The cost of goods manufactured for the year is:
a. $1,000.
b. $ 200.
c. $6,400.
d. $5,000.
40. If beginning and ending goods in process inventories are $5,000 and $15,000, respectively, and
cost of goods manufactured is $170,000, what is the total manufacturing cost for the period?
a. $180,000.
b. $175,000.
c. $160,000.
d. $155,000.
83. A system of accounting in which the costs of each process are accumulated separately and then
assigned to the units of product that passed through the process is a:
a. Process cost accounting system.
b. Manufacturing cost accounting system.
c. General cost accounting system.
d. Job order cost accounting system.
goods in process: $4,000.. Hardy Co.'s cost of goods manufactured for the current year is:
a. $12,000.
b. $18,100.
c. $17,100.
d. $16,100.
36. The following information is available for the year ended December 31: Beginning raw materials
inventory: $2,500; Raw materials purchases: $4,000; Ending raw materials inventory: $3,000; Office
supplies expense: $1,000. The amount of raw materials used in production for the year is:
a. $3,500.
b. $6,500.
c. $5,100.
d. $4,100.
2. Managerial accounting is different from financial accounting in ?

a. Managerial accounting includes many projections and estimates whereas financial accounting
has a minimum of predictions.
b. Managerial accounting is more focused on the organization as a whole and financial accounting is
more focused on subdivisions of the organization.
c. Managerial accounting is used extensively by investors, whereas financial accounting is used only by
creditors.
d. Managerial accounting never includes nonmonetary information.
16. A fixed cost:
a. Is directly traceable to a cost object.
b. Requires the future outlay of cash and is relevant for future decision making.
c. Does not change with changes in the volume of activity within the relevant range.
d. Changes with changes in the volume of activity within the relevant range.
98. Expenses that are easily traced and assigned to a specific department because they are
incurred for the sole benefit of that department are called:
a. Controllable expenses.
b. Uncontrollable expenses.
c. Direct expenses.
d. Indirect expenses.
71. Deltan Corp. allocates overhead to production on the basis of direct labor costs. If Deltan's total
estimated overhead is $450,000 and estimated direct labor is $180,000, determine the amount of
overhead to be allocated to finished goods inventory, there is $20,000 of total direct labor cost in the
jobs in the finished goods inventory.
a. $70,000.
b. $ 8,000.
c. $20,000.
d. $50,000.
41. The following information is available for Talking Toys, Inc., for the current year: Direct materials
used: $12,500; Goods in process, January 1: $50,000; Goods in process, December 31: 37,000;
Total Factory overhead: $5,500; Direct labor used: $26,500. The total manufacturing costs incurred
during the year were:
a. $94,500.
b. $57,500.
c. $13,000.
d. $44,500.
95. The Machining Department started the current month with a beginning goods in process
inventory of $10,000. During the month, it was assigned the following costs: direct materials,
$76,000; direct labor, $24,000; and factory overhead, 50% of direct labor cost. Also, inventory with a
cost of $109,000 was transferred out of the department to the next phase in the process. The ending
balance of the Goods in Process Inventory account for the Machining Department is:
a. $ 56,000.
b. $ 59,000.
c. $110,000.
d. $ 13,000.
66. The rate established prior to the beginning of a period that relates estimated overhead to an
allocation factor such as estimated direct labor, and that is used to assign overhead cost to jobs, is
the:
a. Predetermined overhead allocation rate.

b. Chargeable overhead rate.
c. Estimated labor cost rate.
d. Overhead variance rate.

29. A financial report that summarizes the amounts and types of costs that were incurred in the
manufacturing process during the period is a:
a. Managerial statement.
b. Materiality statement.
c. Manufacturing statement.
d. Merchandise statement.
70. The R&R Company's production costs for August are: direct labor, $13,000; indirect labor,
$6,500; direct materials, $15,000; property taxes on production equipment, $800; heat, lights and
power, $1,000; and insurance on plant and equipment, $200. R&R Company's factory overhead
incurred for August is:
a. $ 2,000.
b. $ 8,500.
c. $ 6,500.
d. $21,500.
92. Medina Corp. had the following information available for the year: Beginning inventory of goods
in process (40% complete, $1,100): 200 units; Ending inventory of goods in process (80%
complete): 400 units; Total units started during the year: 3,200 units. The number of units transferred
to finished goods during the year is:
a. 3,000 units.
b. 3,200 units.
c. 3,400 units.
d. 3,160 units.
21. Products that have been completed and are ready to be sold by the manufacturer are called:
a. Finished goods inventory.

b. Goods in process inventory.
c. Cost of goods sold.
d. Raw materials inventory

63. Labor costs in production can be:
a. Direct or indirect.
b. Indirect or sunk.
c. Indirect or payroll.
d. Direct or payroll.
75. The amount by which overhead incurred during a period exceeds the overhead applied to jobs
is:
a. Actual overhead.
b. Predetermined overhead.
c. Underapplied overhead.
d. Balanced overhead.
35. Ajax Company accumulated the following account information for the year: Beginning raw
materials inventory: $6,000; Indirect materials cost: $2,000; Indirect labor cost: $5,000; Maintenance
of factory equipment: $2,800; Direct labor cost: $7,000. Using the above information, total factory
overhead costs would be:
a. $13,000.
b. $ 9,800.
c. $16,800.
d. $15,800.
40. If beginning and ending goods in process inventories are $5,000 and $15,000, respectively, and
cost of goods manufactured is $170,000, what is the total manufacturing cost for the period?
a. $160,000.
b. $180,000.
c. $175,000.
d. $155,000.
$352,950 actual costs. If Aniston Enterprises uses the FIFO method of process costing, the costs
per equivalent unit for May 2007 were:
a. Direct Materials : $1.50 Conversion Costs: $1.76

b. Direct Materials : $1.52 Conversion Costs: $1.81
c. Direct Materials : $1.71 Conversion Costs: $1.81
97. A company uses a process cost accounting system. Its Assembly Department's beginning
inventory consisted of 50,000 units, 3/4 complete with respect to direct labor and overhead. The
department started and finished 127,500 units this period. The ending inventory consists of 40,000
units that are 1/4 complete with respect to direct labor and overhead. All direct materials are added
at the beginning of the process. The department incurred direct labor costs of $24,000 and overhead
costs of $32,000 for the period. The direct labor cost per equivalent unit is:
a. $0.178.
b. $0.160.
c. $0.295.
d. $0.126.
48. The following information applies to questions: Beginning Direct Materials: $25,000; Ending
Direct Materials : $30,000; Beginning Goods in Process : $55,000; Ending Goods in Process :
$64,000; Beginning Finished Goods: $80,000; Ending Finished Goods: $67,000; Cost of Goods Sold
for the period: $540,000; Sales revenues for the period: $1,254,000; Operating expenses for the
period: $232,000. Calculate the cost of goods manufactured for the period in question.
a. $553,000.
b. $527,000.
c. $549,000.
d. $536,000.
78. Equivalent units of production are equal to:
a. The number of units still in process that period.

b. The number of units introduced into the process that period.
c. The number of units that could have been completed if all effort had been applied to units
that were started and completed that period.
d. The number of finished units actually produced that period.
55. A job order production system would be appropriate for a company that produces which one of
the following items?
a. A landscaping design for a new hospital.

b. Sacks of yard fertilizer.
c. Packets of flower seeds.
d. Seedlings for sale in a nursery.
89. During a period, Department A finished and transferred 50,000 units to Department B. Of the
50,000 units, 20,000 were 1/5 complete at the beginning of the period and 30,000 were started and
completed during the period. Also, during the period, 10,000 units were started but brought only to a
stage of being 3/5 completed. Using FIFO, The number of equivalent units produced by Department
A during the period was:
a. 46,000 units.
b. 52,000 units.
c. 50,000 units.
d. 54,000 units.
67. BVD Company uses a job order cost accounting system and last period incurred $80,000 of
overhead and $100,000 of direct labor. BVD estimates that its overhead next period will be $75,000.
It also expects to incur $100,000 of direct labor. If BVD bases applied overhead on direct labor cost,
their overhead application rate for the next period should be:
a. 80%.
b. 75%.
c. 125%.
d. 107%.
$352,950 actual costs. If Aniston Enterprises uses the FIFO method of process costing, the
equivalent units of work completed in May 2007 were:
a. Direct Materials : 225,000 Conversion Costs:225,000

b. Direct Materials : 275,000 Conversion Costs: 200,000
c. Direct Materials : 225,000 Conversion Costs: 195,000
d. Direct Materials :200,000 Conversion Costs:195,000
57. A document in a job order cost accounting system that is used to record the costs of producing a
job is a(n):
a. Finished goods summary.

b. Job lot.
c. Process cost system.
d. Job cost sheet.
30. Which of the following accounts would all appear on a manufacturing statement?
a. Direct labor, indirect labor, sales salaries.

b. Raw materials, factory insurance expired, indirect labor.
c. Raw materials, goods in process, finished goods.
d. Factory buildings, delivery equipment, and depreciation on factory equipment.
33. A company’s prime costs total $3,000,000 and its conversion costs total $7,000,000. If direct
materials are $1,000,000 and factory overhead is $5,000,000, then direct labor is:
a. $1,000,000.
b. $2,000,000.
c. $14,000,000.
d. $4,000,000.
43. Current information for the Austin Company follows: Beginning raw materials inventory: $15,200;
Beginning goods in process inventory: 22,400; Ending raw materials inventory: $16,600; Ending
goods in process inventory: $28,000; Direct labor: $42,800; Total factory overhead: 30,000; Raw
material purchases: $60,000. All raw materials used were traceable to specific batches of product.
Austin Company's cost of goods manufactured for the year is:
a. $131,400.
b. $128,600.
c. $125,800.
d. $137,000.
70. The R&R Company's production costs for August are: direct labor, $13,000; indirect labor,
$6,500; direct materials, $15,000; property taxes on production equipment, $800; heat, lights and
power, $1,000; and insurance on plant and equipment, $200. R&R Company's factory overhead
incurred for August is:
a. $ 6,500.
b. $ 2,000.
c. $21,500.
d. $ 8,500.
59. The job order cost sheets used by Garza Company revealed the following: Job. No 124: Bal,
May 1 $1,700; May Production costs: 0; Job. No 125: Bal, May 1 $1,200, May Production costs
$300; Job. No 126: Bal, May 1: 0, May production cost: $900. Job No. 125 was completed during
May and Jobs No. 124 and 125 were shipped to customers in May. What were the company's cost
of goods sold for May and the goods in process inventory on May 31?
a. $1,200; $2,900.
b. $3,200; $ 900.
c. $1,700; $1,200.
d. $2,900; $1,200.
67. BVD Company uses a job order cost accounting system and last period incurred $80,000 of
overhead and $100,000 of direct labor. BVD estimates that its overhead next period will be $75,000.
It also expects to incur $100,000 of direct labor. If BVD bases applied overhead on direct labor cost,
their overhead application rate for the next period should be:
a. 125%.
b. 80%.
c. 75%.
d. 107%.
20. Product costs:
b. Are expenditures identified more with a time period rather than with finished products.
c. Are costs that vary with the volume of activity.
d. Include selling and administrative expenses.
65. Canoe Company uses a job order cost accounting system and allocates its overhead on the
basis of direct labor costs. Canoe Company's production costs for the year were: direct labor,
$30,000; direct materials, $50,000; and factory overhead applied, $6,000. The overhead application
rate was:
a. 20.0%.
b. 5.0%.
c. 500.0%.
d. 12.0%.
49. The following information applies to questions: Beginning Direct Materials: $25,000; Ending
Direct Materials: $30,000; Beginning Goods in Process: $55,000; Ending Goods in Process:
$64,000; Beginning Finished Goods: $80,000; Ending Finished Goods : $67,000; Cost of Goods
Sold for the period: $540,000; Sales revenues for the period: $1,254,000; Operating expenses for
the period: $232,000. Calculate gross profit for the period in question.
a. $714,000.
b. $1,022,000.
c. $187,000.
d. $482,000.
11. Classifying costs by behavior involves:

a. Identifying costs in a physical manner.
b. Identifying cost of goods sold and operating costs.
c. Identifying fixed cost and variable cost.
d. Identifying all costs.
6. An opportunity cost is:
a. A cost of potential benefit lost.
b. A direct cost.
c. An uncontrollable cost.
d. A change in the cost of a component.
12. Costs classified by controllability are useful for:
a. Cash flow statement.
b. Management reports.
c. balance sheet.
d. The income statement.
94. A production department’s output for the most recent month consisted of 10,000 units completed
and transferred to the next stage of production and 10,000 units in ending goods in process
inventory. The units in ending goods in process inventory were 50% complete with respect to both
direct materials and conversion costs. There were 1,000 units in beginning goods in process
inventory, and they were 70% complete with respect to both direct materials and conversion costs.
Calculate the equivalent units of production for the month, assuming the company uses the weighted
average method.
a. 15,000 units.
b. 10,000 units.
c. 15,300 units.
d. 10,300 units.
61. A source document that production managers use to request materials for production and that is
used to assign materials costs to specific jobs or to overhead is a:
a. Production order.
b. Materials purchase order.
c. Materials requisition.
d. Job cost sheet.
100. A company has two departments, A and B, that incur delivery expenses. An analysis of the total
delivery expense of $9,000 indicates that Dept. A had a direct expense of $1,000 for deliveries.
None of the $9,000 is a direct expense to Dept. B. The analysis also indicates that 60% of regular
delivery requests originate in Dept. A and 40% in Dept. B. The delivery expenses that should be
charged to Dept. A and Dept. B, respectively, are:
a. $5,800; $3,200.
b. $4,500; $4,500.
c. $5,500; $3,500.
d. $5,500; $4,500.
45. Use the following information to compute the cost of goods manufactured: Beginning raw
materials: $5,500; Ending raw materials: $4,000; Direct labor: $12,250; Raw material purchases:
$7,400; Depreciation on factory equipment: $6,500; Factory repairs and maintenance: $3,300;
Beginning finished goods inventory: $10,200; Ending finished goods inventory: $8,900; Beginning
goods in process inventory: $5,700; Ending goods in process inventory: $6,300
a. $30,650.
b. $30,950.
c. $30,350.
d. $36,650.
a. Managerial statement.
b. Materiality statement.
c. Manufacturing statement.
d. Merchandise statement.
Câu hỏi 17
Đạt điểm 1,00 trên 1,00

Đặt cờ
52. The production activities for a customized product represents a(n):

a. Pool.
b. Operation.
c. Unit.
d. Job.
Câu hỏi 18

Đặt cờ
Total Factory overhead: $5,500; Direct labor used: $26,500. The total cost of goods manufactured
for the year was:
a. $94,500.
b. $44,500.
c. $57,500.
d. $13,000.
Câu hỏi 19

Đặt cờ
35. Ajax Company accumulated the following account information for the year: Beginning raw
materials inventory: $6,000; Indirect materials cost: $2,000; Indirect labor cost: $5,000; Maintenance
of factory equipment: $2,800; Direct labor cost: $7,000. Using the above information, total factory
overhead costs would be:
a. $ 9,800.
b. $16,800.
c. $13,000.
d. $15,800.
Câu hỏi 20

Đặt cờ
10. The salary paid to the supervisor of an assembly line would normally be classified as:
a. A general cost.
b. Direct labor.
c. A period cost.
d. Indirect labor.
w64. A company has an overhead application rate of 125% of direct labor costs. How much
overhead would be allocated to a job if it required total labor costing $20,000?
a. $125,000.
b. $ 16,000.
c. $ 25,000.
d. $ 5,000.
Câu hỏi 2

Đặt cờ
10. The salary paid to the supervisor of an assembly line would normally be classified as:
a. A general cost.
b. A period cost.
c. Direct labor.
d. Indirect labor.
Câu hỏi 3
Sai
Đặt cờ
4. Which of the following items represents a difference between financial and managerial
accounting?
a. Flexibility of practices
b. All of the above.
c. Timeliness and time dimension of the information reported.
d. Users of the information.
Câu hỏi 4
Đặt cờ
54. Dell Builders manufactures each house to customer specifications. It most likely would use:
a. A periodic inventory system.
b. Job order costing
c. Capital process costing.
d. Unique costing
Câu hỏi 5

Đặt cờ
97. A company uses a process cost accounting system. Its Assembly Department's beginning
inventory consisted of 50,000 units, 3/4 complete with respect to direct labor and overhead. The
department started and finished 127,500 units this period. The ending inventory consists of 40,000
units that are 1/4 complete with respect to direct labor and overhead. All direct materials are added
at the beginning of the process. The department incurred direct labor costs of $24,000 and overhead
costs of $32,000 for the period. The direct labor cost per equivalent unit is:
a. $0.295.
b. $0.126.
c. $0.178.
d. $0.160.
Câu hỏi 6

Đặt cờ
53. A job order cost accounting system would best fit the needs of a company that makes:
a. Cement.
b. Shoes and apparel.
c. Custom machinery.
d. Paint.
Câu hỏi 7

Đặt cờ
Total Factory overhead: $5,500; Direct labor used: $26,500. The total cost of goods manufactured
for the year was:
a. $57,500.
b. $13,000.
c. $44,500.
d. $94,500.
Câu hỏi 8

Đặt cờ
55. A job order production system would be appropriate for a company that produces which one of
the following items?
a. Sacks of yard fertilizer.
b. Packets of flower seeds.
c. Seedlings for sale in a nursery.
d. A landscaping design for a new hospital.
Câu hỏi 9

Đặt cờ
47. The following information pertains to the Hewett Corporation: Beginning Direct Materials:
$30,000; Ending Direct Materials: $70,000; Beginning Goods in Process Inventory: $40,000; Ending
Goods in Process Inventory: $46,000; Beginning Finished Goods Inventory: $72,000; Ending
Finished Goods Inventory: $68,000; Cost of Goods Manufactured for the period: $246,000. What is
the cost of goods sold for the period?
a. $242,000.
b. $250,000.
c. $258,000.
d. $290,000.
Câu hỏi 10

Đặt cờ
74. The amount by which the overhead applied to jobs during a period exceeds the overhead
incurred during the period is known as:
a. Estimated overhead.
b. Overapplied overhead.
c. Underapplied overhead.
d. Adjusted overhead.
Câu hỏi 11

Đặt cờ
15. A mixed cost:
a. Does not change with changes in the volume of activity within the relevant range.
b. Is directly traceable to a cost object.
c. Contains a combination of fixed costs and variable costs.
d. Requires the future outlay of cash and is relevant for future decision making.
Câu hỏi 12

Đặt cờ
a. Materiality statement.
b. Merchandise statement.
c. Managerial statement.
d. Manufacturing statement.
27. Which one of the following items is normally not a manufacturing cost?
a. Direct labor.
b. Direct materials.
c. Factory overhead.
d. General and administrative expenses.
14. Raw materials that physically become part of the product and can be traced to specific units or
batches of product are called:
a. Indirect materials.
b. Raw materials sold.
c. Direct materials.
d. Goods in process.
1. Managerial accounting information?
a. Is used mainly by external users
b. Can be used for control purposes but not for planning purposes.
c. Is generally the only accounting information available to managers.
d. Involves gathering information about costs for planning and control decisions
72. The Goods in Process Inventory account of a manufacturing company that uses an overhead
rate based on direct labor cost has a $4,400 debit balance after all posting is completed. The cost
sheet of the one job still in process shows direct material cost of $2,000 and direct labor cost of
$800. Therefore, the company's overhead application rate is:
a. 50%.
b. All are incorrect.
c. 80%.
d. 40%.
goods in process: $4,000. The total of Hardy Co.'s manufacturing costs added during the current
year is:
a. $16,100.
b. $12,000.
c. $17,100.
d. $18,100.
12. Costs classified by controllability are useful for:
a. Management reports.
b. The income statement.
c. Cash flow statement.
d. balance sheet.
3. Flexibility of practice when applied to managerial accounting means that

a. The design of a company's managerial accounting system largely depends on the nature of the
business and the arrangement of the internal operations of the company.
b. Managers must be willing to accept the information as the accountants present it to them, rather than
in the format they ask for.
c. The managerial accountants need to be on call twenty-four hours a day.
d. The information must be presented in electronic format so that it is easily changed.
a. The current income statement.
b. Job cost sheet.
c. The current balance sheet.
Austin Company uses a job order cost accounting system. The company's executives estimated that
direct labor would be $2,000,000 (200,000 hours at $10/hour) and that factory overhead would be
$1,500,000 for the current period. At the end of the period, the records show that there had been
180,000 hours of direct labor and $1,200,000 of actual overhead costs. Using direct labor hours as a
base, what was the predetermined overhead allocation rate?
a. $7.50 per direct labor hour.
b. $6.00 per direct labor hour.
c. $8.33 per direct labor hour.
d. $6.67 per direct labor hour.

A company has an overhead application rate of 125% of direct labor costs. How much overhead would
be allocated to a job if it required total labor costing $20,000?
a. $ 25,000.
b. $ 16,000.
c. $ 5,000.
d. $125,000.
A measure of the productivity of a process with respect to its use of direct materials, direct labor, or
overhead, and an expression of the activity of a process as the number of units that would have been
processed during a period if all effort had been applied to units that were started and finished during
the period, is called:
a. Equivalent units of production.
b. A job cost sheet.
c. Units in process.
Canoe Company uses a job order cost accounting system and allocates its overhead on the basis of
direct labor costs. Canoe Company's production costs for the year were: direct labor, $30,000; direct
materials, $50,000; and factory overhead applied, $6,000. The overhead application rate was:
a. 20.0%.
b. 500.0%.
c. 5.0%.
d. 12.0%.
The amount by which overhead incurred during a period exceeds the overhead applied to jobs is:
a. Underapplied overhead.
b. Balanced overhead.
c. Predetermined overhead.
d. Actual overhead.
86. A company's beginning work in process inventory consisted of 20,000 units that were 1/5 complete
with respect to direct labor. These beginning units were completed and another 90,000 units were
started during the current period. Of those started, 60,000 were finished and the remaining 30,000 were
1/3 complete at the end of the period. The equivalent units of production were:
a. 86,000.
b. 60,000.
c. 76,000.
d. 74,000.
60. A job cost sheet includes:
a. Direct material, direct labor, overhead.
b. Direct materials, overhead, administrative costs.
c. Direct labor, overhead, selling costs.
d. Direct materials, direct labor, operating costs.
b. Identifying fixed cost and variable cost.
c. Identifying cost of goods sold and operating costs.
In comparison to a general accounting system for a manufacturing company, a cost accounting system
places an emphasis on
a. Unit costs and cost control.
b. Products and average costs.
c. Total costs.
d. Periodic inventory counts.
The R&R Company's production costs for August are: direct labor, $13,000; indirect labor, $6,500; direct
materials, $15,000; property taxes on production equipment, $800; heat, lights and power, $1,000; and
insurance on plant and equipment, $200. R&R Company's factory overhead incurred for August is: 8500
a. The current balance sheet.
b. Job cost sheet.
A document in a job order cost accounting system that is used to record the costs of producing a job is
a(n):
b. Job lot.
d. Job cost sheet.
a. The current balance sheet.
b. Job cost sheet.
73. If overhead applied is less than actual overhead, it is:
a. Underapplied.
b. Expected.
c. Fully applied.
d. Overapplied.
b. Identifying fixed cost and variable cost.
c. Identifying cost of goods sold and operating costs.
The salary paid to the supervisor of an assembly line would normally be classified as:
a. Indirect labor.
b. A general cost.
c. Direct labor.
d. A period cost.
A document in a job order cost accounting system that is used to record the costs of producing a job is
a(n):
b. Job lot.
d. Job cost sheet.

93. Medina Corp. had the following information available for the year: Beginning inventory of goods in
process (40% complete, $1,100): 200 units; Ending inventory of goods in process (80% complete): 400
units; Total units started during the year: 3,200 units.If the weighted average inventory method were
used, the equivalent units for the year would be
Select one: Câu này cô cho đáp án do bị lỗi
a. 3,320.
b. 3,200.
c. 3,520.
d. 3,240.
102. Costs that the manager does not have the power to determine or at least strongly influence are:
a. Uncontrollable costs.
b. Variable costs.
c. Indirect costs.
d. Direct costs.
c. Total costs.
Costs classified by controllability are useful for:
a. The income statement.
c. balance sheet.
d. Cash flow statement
Another title for goods in process inventory is:
a. Indirect materials inventory.
b. Conversion costs.
c. Work in process inventory.

d. Direct materials inventor
The two basic types of cost accounting systems are:
a. Job order costing and customized product costing.
b. Job order costing and perpetual costing.
c. None of the above
d. Job order costing and customized service cost
55. A job order production system would be appropriate for a company that produces which one of the
following items?
a. Seedlings for sale in a nursery.
b. Packets of flower seeds.
c. A landscaping design for a new hospital.
d. Sacks of yard fertilizer.
a. Conversion costs.
b. Work in process inventory.
c. Indirect materials inventory.
d. Direct materials inventory
Activity based costing can be applied to:
a. Manufacturing activities only.
b. Service activities only.
c. Any company in any industry.
d. Merchandising activities only.
A measure of the productivity of a process with respect to its use of direct materials, direct labor, or
overhead, and an expression of the activity of a process as the number of units that would have been
processed during a period if all effort had been applied to units that were started and finished during
the period, is called:
a. Equivalent units of production.
b. A job cost sheet.
c. Units in process.
59. The job order cost sheets used by Garza Company revealed the following: Job. No 124: Bal, May 1
$1,700; May Production costs: 0; Job. No 125: Bal, May 1 $1,200, May Production costs $300; Job. No
126: Bal, May 1: 0, May production cost: $900. Job No. 125 was completed during May and Jobs No. 124
and 125 were shipped to customers in May. What were the company's cost of goods sold for May and
the goods in process inventory on May 31?
a. $3,200; $ 900.
b. $2,900; $1,200.
c. $1,200; $2,900.
d. $1,700; $1,200.
Activity based costing can be applied to:
a. Manufacturing activities only.
b. Service activities only.
c. Any company in any industry.
d. Merchandising activities only.
a. Conversion costs.
b. Work in process inventory.
c. Indirect materials inventory.
d. Direct materials inventory
Managerial accounting is different from financial accounting in ?
a. Managerial accounting never includes nonmonetary information.
b. Managerial accounting includes many projections and estimates whereas financial accounting has a
minimum of predictions.
c. Managerial accounting is used extensively by investors, whereas financial accounting is used only by
creditors.
d. Managerial accounting is more focused on the organization as a whole and financial accounting is
more focused on subdivisions of the organization.
the amount by which the overhead applied to jobs during a period exceeds the overhead incurred
during the period is known as:
a. Adjusted overhead.
b. Overapplied overhead.
c. Estimated overhead.
d. Underapplied overhead.
The following data are available for a company's manufacturing activities: Beginning goods in process
inventory: 5,000 units, 1/4 of the labor added this period; Units started and completed: 15,000; Ending
goods in process inventory: 6,000 units, 1/2 of the labor added this period. Using Fifo, If materials are
added when the production process begins and direct labor is applied uniformly throughout the process,
what are the equivalent units for direct materials and for direct labor, respectively?
Select one:
a. 19,250; 18,750.
b. 16,250; 21,750.
c. 21,000; 19,250.
d. 16,250; 19,250.
Aniston Enterprises manufactures stylish hats. All materials are introduced at the beginning of the
manufacturing process. Conversion costs are incurred uniformly throughout the manufacturing process.
Information for the process for the month of May 2007 follows: Goods in Process, April 30: 50,000 units
(100% complete for direct materials; 40% complete for conversion costs); ----------Actual costs of direct
materials was $70,500; actual conversion costs were $34,050;--------------Units started in May: 225,000
units;-------- Units completed in May: 200,000 units;--------- Goods in Process, May 31: 75,000 units
(100% complete for direct materials; 20% complete for conversion costs). -------------Direct materials
added in May $342,000 actual costs; Conversion costs added in May $352,950 actual costs. If Aniston
Enterprises uses the FIFO method of process costing, the equivalent units of work completed in May
2007 were:
a. Direct Materials :200,000 Conversion Costs:195,000
b. Direct Materials : 225,000 Conversion Costs:225,000
c. Direct Materials : 275,000 Conversion Costs: 200,000
d. Direct Materials : 225,000 Conversion Costs: 195,000
Costs classified by controllability are useful for:
a. The income statement.
c. balance sheet.
d. Cash flow statement.
The R&R Company's production costs for August are: direct labor, $13,000; indirect labor, $6,500; direct
materials, $15,000; property taxes on production equipment, $800; heat, lights and power, $1,000; and
insurance on plant and equipment, $200. R&R Company's factory overhead incurred for August is:
Indirect labor= 6,500

Taxes= 800
Heat,Light,Power= 1,000
Insurance= 200
Total Overhead Cost= $8500
c. Total costs.

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19.

51. The two basic types of cost accounting systems are:

2. Managerial accounting is different from financial accounting in ?

a. Predetermined overhead allocation rate.

d. Overhead variance rate.

a. Finished goods inventory.

d. Raw materials inventory

a. Direct Materials : $1.50 Conversion Costs: $1.76

a. The number of units still in process that period.

a. A landscaping design for a new hospital.

a. Direct Materials : 225,000 Conversion Costs:225,000

a. Finished goods summary.

a. Direct labor, indirect labor, sales salaries.

11. Classifying costs by behavior involves:

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52. The production activities for a customized product represents a(n):

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3. Flexibility of practice when applied to managerial accounting means that

a. $7.50 per direct labor hour.

b. $6.00 per direct labor hour.

c. $8.33 per direct labor hour.

d. $6.67 per direct labor hour.

a. Equivalent units of production.

b. A job cost sheet.

60. A job cost sheet includes:

a. Direct material, direct labor, overhead.

b. Direct materials, overhead, administrative costs.

c. Direct labor, overhead, selling costs.

d. Direct materials, direct labor, operating costs.

11. Classifying costs by behavior involves:

a. Identifying costs in a physical manner.

b. Identifying fixed cost and variable cost.

c. Identifying cost of goods sold and operating costs.

d. Identifying all costs.

a. Unit costs and cost control.

b. Products and average costs.

d. Periodic inventory counts.

a. The current balance sheet.

b. Job cost sheet.

c. The current income statement.

a. Finished goods summary.

d. Job cost sheet.

a. The current balance sheet.

b. Job cost sheet.

c. The current income statement.

73. If overhead applied is less than actual overhead, it is:

11. Classifying costs by behavior involves:

a. Identifying costs in a physical manner.

b. Identifying fixed cost and variable cost.

c. Identifying cost of goods sold and operating costs.

d. Identifying all costs.