Match each of the following terms with the phrase

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Managerial Accounting: The Cornerstone of Business Decision-Making
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Chapter 6 / Exercise 6-44
Managerial Accounting: The Cornerstone of Business Decision-Making
Hansen/Mowen
Expert Verified
52. Match each of the following terms with the phrase that most closely describes it. Each answer may be used only once.
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Managerial Accounting: The Cornerstone of Business Decision-Making
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Chapter 6 / Exercise 6-44
Managerial Accounting: The Cornerstone of Business Decision-Making
Hansen/Mowen
Expert Verified
1. Prepared when materials that have been ordered are received and inspected.
____ 3. Subsidiary ledger for Work in Process.
4. Serves as the basis for recording materials used.
____ 5. Service providers use this account similarly to the cost of merchandise sold account used by merchandisers.
____ 53. Which of the following are the two main types of cost accounting systems for manufacturing operations? A. Process cost and general accounting systemsB. Job order cost and process cost systems
54. Which of the following would most likely use a job order costing system? A. A paper millB. A swimming
55. Which of the following would be most likely to use process costing? A. A custom furniture manufacturer.
56. Which of the following systems provides for a separate record of the cost of each particular quantity of product that passes through the factory? A. Job order cost systemB. General cost systemC. Replacement cost systemD. Process cost system
57. For which of the following businesses would the job order cost system be appropriate? A. Meat
58. For which of the following businesses would the process cost system be appropriate? A. Book retailer
59. Which of the following is nota characteristic of a job order costing system? A. It accumulates cost for
60. Which of the following products probably would be manufactured using a job order costing system? A. Number 2 pencilsB. Computer monitors.C. Wedding invitations.D. Paper.

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