RandallHallAC202Exam3

RandallHallAC202Exam3 - AC202 Principles of Accounting II...

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AC202 Principles of Accounting II Name Randall Hall Park University Exam 3A Chapters 19-21 Multiple Choice Questions ( 2 points ) Select the ONE, BEST Answer 1. A system of accounting for production operations that uses a periodic inventory system is called a: E. Finished goods accounting system. 2. A job cost sheet shows information about each of the following items except: C. The costs incurred by the marketing department in selling the job. 3. Canoe Company uses a job order cost accounting system and allocates its overhead on the basis of direct labor costs. Canoe Company's production costs for the year were: direct labor, $30,000; direct materials, $50,000; and factory overhead applied, $6,000. The overhead application rate was: C. 20.0%. 4. If it is a material amount, overapplied or underapplied overhead should be disposed of by allocating it to: C. Goods in process, finished goods, and cost of goods sold.
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RandallHallAC202Exam3 - AC202 Principles of Accounting II...

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