Módulo 3-Ejercicios de Práctica

Módulo 3-Ejercicios de Práctica - Jaime Nazario...

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Unformatted text preview: Jaime Nazario Santiago E00-29-4633 Mdulo 3: Sistema de costo por orden de trabajo MULTIPLE CHOICE QUESTIONS AND EXERCISES I. Multiple Choice: Choose the correct answer by writing the appropriate letter in the space provided. ___C___1.In a job-costing system, a manufacturing firm typically uses an indirect-cost rate to estimate the __________ allocated to a job. a. direct materials b. direct labor c. manufacturing overhead costs d. total costs ___D___2.Which of the following would be accounted for using a job order cost system? a. the production of personal computers b. the production of automobiles c. the refining of petroleum d. the construction of a new campus building ___A___3. Which one of the following best describes a job cost sheet? a. it is a form used to record the costs chargeable to a specific job and to determine the total and unit costs of the completed job b. it is used to track manufacturing overhead costs to specific jobs. c. it is used by management to understand how direct costs affect profitability d. it is a daily form that management uses for tracking worker productivity on which employee raises are based. ___C__4. The following information is available for completed Job No. 402: Direct materials, $40,000; direct labor, $60,000; manufacturing overhead applied, $30,000; units produced, 5,000 units; units sold, 4,000 units. The cost of the finished goods on hand from this job is a. $20,000. b. $130,000. c. $26,000. d. $104,000. ___A__5. The labor costs that have been identified as indirect labor should be charged to a. manufacturing overhead. b. direct labor. c. the individual jobs worked on. d. salary expense. Jaime Nazario Santiago E00-29-4633 ___D___6.When a job is completed and all costs have been accumulated on a job cost sheet, the journal entry that should be made is a. Finished Goods Inventory Direct Materials Direct Labor Manufacturing Overhead b. Work In Process Inventory Direct Materials Direct Labor Manufacturing Overhead c. Raw Materials Inventory Work In Process Inventory d. Finished Goods Inventory Work In Process Inventory ___D___7.The entry to record the acquisition of raw materials on account is a. Work in Process Inventory Accounts Payable b. Manufacturing Overhead Control Raw Materials Inventory Accounts Payable c. Accounts Payable Raw Materials Inventory d. Raw Materials Inventory Accounts Payable ___D___8.A materials requisition slip showed that direct materials requested were $35,000 and indirect materials requested were $6,000. The entry to record the transfer of materials from the storeroom is a. Work In Process Inventory........................................... 35,000 Raw Materials Inventory...................................... 35,000 b. Direct Materials............................................................ 35,000 Indirect Materials.......................................................... 6,000 Work in Process Inventory......................................
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This note was uploaded on 11/21/2011 for the course ACCT 101 taught by Professor Vargas during the Spring '11 term at InterAmerican Ponce.

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Módulo 3-Ejercicios de Práctica - Jaime Nazario...

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