question - Raw Materials Purchases. (b) Raw Materials...

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Cost accounting involves the measuring, recording, and reporting of: (a)   product costs. (b)   future costs. (c)   manufacturing processes. (d)   managerial accounting decisions. Answer: (a)  product costs A company is more likely to use a job costing system if: (a)   it manufactures a large volume of similar  products. (b)   its production is continuous. (c)   it manufactures products with unique  characteristics. (d)   it uses a periodic inventory system. Answer: (c)  it manufactures products with unique characteristics. In accumulating raw materials costs, companies debit the cost of raw materials purchased in a  perpetual system to: (a)  
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Unformatted text preview: Raw Materials Purchases. (b) Raw Materials Inventory. (c) Purchases. (d) Work in Process. Answer: (b) Raw Materials Inventory. When incurred, factory labor costs are debited to: (a) Work in Process. (b) Factory Wages Expense. (c) Factory Labor. (d) Factory Wages Payable. Answer: (c) Factory Labor. The flow of costs in job order costing: (a) begins with work with finished goo (b) begins as soon as (c) parallels the physi are converted into (d) is necessary to pre manufactured sch Answer: (c) parallels the physical flow of materials as they are converted in...
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question - Raw Materials Purchases. (b) Raw Materials...

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