CH 3 Quiz - Question 1: Score 0.75/1 Question 2: Score 1/1...

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Unformatted text preview: Question 1: Score 0.75/1 Question 2: Score 1/1 Total grade: 1.01/12 + 1.01/12 + 1.01/12 + 0.01/12 + 1.01/12 + 1.01/12 + 1.01/12 + 0.01/12 + 1.01/12 + 1.01/12 + 0.01/12 + 1.01/12 = 8% + 8% + 8% + 0% + 8% + 8% + 8% + 0% + 8% + 8% + 0% + 8% Your response Correct response Exercise 3-1 Process Costing and Job-Order Costing [LO1] Which would be more appropriate in each of the following situationsjob-order costing or process costing? a. A custom yacht builder. Job-order costing (8%) b. A golf course designer. Job-order costing (8%) c. A potato chip manufacturer. Process costing (8%) d. A business consultant. Either process costing or job- order costing (0%) e. A plywood manufacturer. Process costing (8%) f. A soft-drink bottler. Process costing (8%) g. A film studio. Job-order costing (8%) h. A firm that supervises bridge construction projects. Process costing (0%) i. A manufacturer of fine custom jewelry. Job-order costing (8%) j. A made-to-order clothing factory. Job-order costing (8%) k. A factory making one personal computer model. Either process costing or job- order costing (0%) l. A fertilizer factory. Process costing (8%) Exercise 3-1 Process Costing and Job-Order Costing [LO1] Which would be more appropriate in each of the following situationsjob-order costing or process costing? a. A custom yacht builder. Job-order costing b. A golf course designer. Job-order costing c. A potato chip manufacturer. Process costing d. A business consultant. Job-order costing e. A plywood manufacturer. Process costing f. A soft-drink bottler. Process costing g. A film studio. Job-order costing h. A firm that supervises bridge construction projects. Job-order costing i. A manufacturer of fine custom jewelry. Job-order costing j. A made-to-order clothing factory. Job-order costing k. A factory making one personal computer model. Process costing l. A fertilizer factory. Process costing Feedback: Some of the listed companies might use either a process costing or a job-order costing system, depending on the nature of their operations and how homogeneous the final product is. For example, a plywood manufacturer might use job-order costing if it has a number of different plywood products that are constructed of different woods or come in markedly different sizes. Exercise 3-2 Job-Order Costing Documents [LO2] Mountain Gearing Company has incurred the following costs on Job ES34, an order for 40 gearing wheels to be delivered at the end of next month. Direct materials: On March 5, requisition number 870 was issued for 40 titanium blanks to be used in the special order. The blanks cost $8.00 each. On March 8, requisition number 873 was issued for 960 hardened nibs also to be used in the special order. The nibs cost $0.60 each....
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CH 3 Quiz - Question 1: Score 0.75/1 Question 2: Score 1/1...

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