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TrueFalseJournalize

TrueFalseJournalize - Rules Each teams gets a point for...

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Rules Each teams gets a point for answering the true or false question or the journal question correctly. If the answer in a true or false is “false,” a team that answers correctly can correct the false statement in order to make it true for an additional point. EX: Mary had a little frog. False, “lamb” Otherwise, another team can steal for a point if it knows how to correct the statement.
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Journalize What account do you credit when you apply overhead?
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True or False? Job-order costing is used in those situations where units of a product are homogeneous, such as in the manufacture of sugar.
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Journalize What account do you debit to close out overapplied overhead?
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True or False? The three cost categories appearing on a job cost sheet are: selling expense, manufacturing expense, and administrative expense.
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Journalize What is an account that you credit when you record goods sold?
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True or False? Period costs are expensed as incurred, rather than going into the Work in Process account.
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Journalize What is another account that you credit when you record goods sold?
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True or False? In activity-based costing, there are a number of activity cost pools, each of which is allocated to products and other costing objects using its own unique measure of activity.
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Journalize What account do you debit to record depreciation expense on factory equipment?
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True or False? The job cost sheet is used in both job-order and process costing.
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Journalize What account do you debit when you record depreciation on office equipment?
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True or False? Under- or overapplied overhead represents the difference between actual overhead costs and applied overhead costs.
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Journalize What account do you credit when you record depreciation on office equipment?
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True or False? Using process costing, it is necessary to consider the stage of completion of the units when assigning conversion costs to partially completed units in the ending work in process inventory.
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Journalize What account do you debit when you issue indirect materials into production?
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True or False? The process of assigning overhead cost to jobs in known as overhead application.
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Journalize What account do you debit when you transfer work in process from Department A to Department B?
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True or False? In baking cookies, the cookie dough would be an example of a batch-level cost.
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Journalize What account do you debit when prepaid expenses expire for manufacturing overhead?
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