8)9)Which of the following is a characteristic of a manufacturing environment that woulduse job order costing?A) Continuous manufacturingB) Standardized production processC) Homogenous productsD) Differentiated products9)
10)The cost of materials used on a specific job is first captured on which source document?10)
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11)All the costs assigned to an individual job are summarized on a:11)
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12)A predetermined overhead rate is calculated by dividing:12)
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13)Manufacturing overhead was estimated to be $400,000 for the year along with 20,000direct labor hours. Actual manufacturing overhead was $415,000 and actual labor hourswere 21,000. The predetermined manufacturing overhead rate per direct labor hourwould be:A) $19.05.B) $20.00.C) $20.75.D) $0.05.13)
6.Which of the following types of firms would most likely use process costing?A.Superior Auto Body & RepairB.Crammond Custom CabinetsC.Sunshine Soft DrinksD.Jackson & Taylor Tax ServiceProcess costing is used by companies that make or complete standardized or homogeneous products or services, such as asoft drink company.
7.The cost of materials used on a specific job is first captured on which source document?
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8.A predetermined overhead rate is calculated by dividing:
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9.Manufacturing overhead was estimated to be $400,000 for the year along with 20,000 direct labor hours. Actualmanufacturing overhead was $415,000, actual labor hours were 21,000. The predetermined manufacturing overhead rateper direct labor hour would be:
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10.Manufacturing overhead was estimated to be $400,000 for the year along with 20,000 direct labor hours. Actualmanufacturing overhead was $415,000, actual labor hours were 21,000. The amount of manufacturing overhead applied toproduction would be:A. $400,000.
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