Chap5&6QuizBUS4113

Chap5&6QuizBUS4113 - Amberton University BUS 4113...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Amberton University BUS 4113 – Accounting and Finance for Managers Chapter 5 and 6 Quiz Name: Chapter 5 1. For each of the following organizations, indicate which type of costing system would be the most appropriate: job costing (JC), operations costing (OC), or process costing (PC). hospital JC beverage producer PC construction company JC law firm JC clothing manufacturer OC drug manufacturer OC oil refinery PC paint manufacturer PC 2. What is the purpose of a job cost report and what are some of the items that should be found on one? The purpose of a job cost report is to accumulate track and assigned cost for each job. Some of the items are labor material, direct material and overhead 3. Triangle Catering assigns overhead to specific jobs based on direct labor hours. At the beginning of the current year, estimated overhead costs were $500,000 and estimated direct labor hours were 40,000. By the end of the year, actual overhead costs were calculated to be $525,000 and actual direct labor hours were 45,000. Required : A. Calculate the predetermined overhead rate. 500 000 / 40 000= $12.5 B. How much overhead would be applied to a particular catering job that required 15 direct labor hours? 12.5*15=
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 4

Chap5&6QuizBUS4113 - Amberton University BUS 4113...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online