In a job-order costing system, indirect labor cost is usually recorded a:debitManufacturing Overhead.a CNone of the given answer is correct .b CWork in Process.c C.Cost of Goods Sold .d O.Cash or Wage Payable .e O

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Description: In a job-order costing system, indirect labor cost is usually recorded a:debitManufacturing Overhead.a CNone of the given answer is correct .b CWork in Process.c C.Cost of Goods Sold .d O.Cash or Wage Payable .e O

In job costing, Indirect labor cost is usually debited to manufacturing overheads.

Business

Accounting

In a job-order costing system, indirect labor cost is usually recorded a :debit Manufacturing Overhead a None of the given answer is correct .b C .Work in Process .c C .Cost of Goods Sold .d O .Cash or Wage Payable .e O

In a job-order costing system, indirect labor cost is usually recorded a :debit Manufacturing Overhead a None of the given answer is correct .b C .Work in Process .c C .Cost of Goods Sold .d O .Cash or Wage Payable .e O

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 3DQ: In a job order cost system, direct labor and factory overhead applied are debited to individual...

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In a job order cost system, overhead applied is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
In a job order cost system, utility expense incurred is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
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
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, factory wage expense is debited to which account? A. raw materials inventory B. work in process inventory C. finished goods inventory D. cost of goods sold
Assigning indirect costs to specific jobs is completed by which of the following? applying the costs to manufacturing overhead using the predetermined overhead rate using the manufacturing costs incurred applying the indirect labor to the work in process inventory
Which is not a step in analyzing the cost driver for manufacturing overhead? A. Identify the cost B. identify non-value-added costs C. analyze the effect on manufacturing overhead D. identify the correlation between the potential driver and manufacturing overhead
Which of the following is a prime cost? A. direct labor B. work in process inventory C. administrative labor D. factory maintenance expenses
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
In a job order cost system, which account shows the overhead used by the company? A. work in process inventory B. finished goods inventory C. cost of goods sold D. manufacturing overhead
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 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