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Unformatted text preview: Process Inventory account. Explain what this means and how would you verify this. 9. Suppose you and friend decide to set up a lawn mowing service next summer. Describe the source documents that you would need to account for your activities. 10. How is the predetermined OH rate calculated? 11. What is an OH variance? What account is adjusted for the OH variance? 12. How do you know when manufacturing OH is over applied? Under applied? 13. How does a plant wide OH rate differ from a departmental OH rate? 14. What does the beginning balance on a job order cost sheet represent? 15. The cost of a job is $100 and it will sell for cost plus 50%. What is the price of the job? 16. Which job-order cost sheets support the finished goods inventory account?...
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- Spring '11
- Managerial Accounting