Week 2 Quiz - Week 2 Quiz Managerial Accounting Grading...

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Week 2 Quiz Managerial Accounting Grading Summary Grade Details Page:   1 2 1. Question : (TCO F) For which situation(s) below would an organization be more likely to use a job-order costing system of accumulating product costs rather than a process costing system? Student Answer: a steel factory that processes iron ore into steel bars a factory that processes sugar and other ingredients into black licorice a costume maker that makes specialty costumes for figure skaters all of these Instructor Explanation: Chapter 3 Points Received: 5 of 5 Comments: 2. Question : (TCO F) Process costing would be appropriate for each of the following except: Student Answer: custom furniture manufacturing. oil refining. grain milling. newsprint production. Instructor Explanation: Chapter 4 Points Received: 5 of 5 Comments:
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3. Question : (TCO F) Assume there was no beginning work in process inventory and the ending work in process inventory is 70% complete with respect to conversion costs. Under the weighted-average method, the number of equivalent units of production with respect to conversion costs would be: Student Answer: the same as the units
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Week 2 Quiz - Week 2 Quiz Managerial Accounting Grading...

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