ACCT - EXAM1 _ CH1-4

ACCT - EXAM1 _ CH1-4 - Question 1 2 points The estimates...

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Question 1 2 points Save The estimates used to calculate the predetermined overhead rate will virtually always:
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a. result in under applie d overh ead that is close d to Cost of Good s Sold if it is imma terial in amou nt. b. result in a year- end balan ce of zero in the Manu factur ing Over head accou nt. c. result in overa pplied overh ead
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Question 2 2 points Save Process costing would be used in all of the following industries except :
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a. automo bile repair. b. wood pulp product ion. c. petrole um refining . d. chemic als. e. truck tire manufa cturing. Question 3 2 points Save Conversion costs are:
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a. direct labor and manufa cturing overhe ad. b. prime costs. c. period costs. d. direct materia l and direct labor. e. direct materia l, direct labor, and manufa cturing overhe ad.
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Question 4 2 points Save Metro Corporation uses a predetermined overhead rate of $20 per machine hour. In deriving this figure, the company's accountant used:
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a. a deno minato r of actual machi ne hours for the curren t accou nting period . b. a deno minato r of budge ted machi ne hours for the curren t accou nting period . c. a numer ator of actual machi ne hours for the curren t accou
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Question 5 2 points Save Which of the following manufacturers would most likely use job-order costing?
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Chemic
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This document was uploaded on 02/15/2011.

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ACCT - EXAM1 _ CH1-4 - Question 1 2 points The estimates...

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