5.How much do you calculate the predetermined manufacturing overhead rate used to allocate manufacturing overhead costs?
6.Which of the following is an example of an industry that would use a process costing-rather than a job costing- system?
7.Which of these documents informs the storeroom to send specific materials to the factory floor?
8.Which of the following industries would be most likely to use a job costingsystem?
9.Manufacturers follow four steps to implement a manufacturing overhead allocation system. The last step is
10. Manufacturing overhead would include
11. Ryan’s Paints allocate overhead based on machine hours. Selected data forthe most recent year follow.Estimated Manufacturing overhead cost$235,000Actual Manufacturing Overhead cost$244,000Estimated Machine hours20,000Actual Machine Hours22,500The estimates were made as of the beginning of the year, while the acutal results were for the entire year. The amount of manufacturing overhead allocated for theyear based on the machine hours would have been
12. When direct materials are requisitioned, they flow directly into
13. The assignment of direct and indirect materials to a cost object reduce the
14. A ________________ is a source document used to track employee hours
15. The cost of direct labor used in production is recorded as a
16. The two basic types of costing systems are