1. A company that builds a special airplane for a customer probably need to use Process costing system. True or False (see page 2-2-3) 2. Articulate (state) the flow of cost (e.g., materials) through job order system (see Exhibit 2-3, page 2-5). 3. The purchase of materials on account probably necessitates recording a credit to Account Payable and a debit to ? (see page 2-6) Account is debited when materials are used in a hob (see 4. page 2-8). 5. The consumption of labor in a job in the amount of $1,000 requires a credit to cash or salary payable and a debit to _account? (aee page 2-10) 6. Articulate the formula used to calculate Predetermined Overhead Rate. (see page 2-11). 7. What account is debited when actual overhead is incurred in the amount of $2.000? (see page 2-10) 8. Given a predetermined overhead rate of $10 per labor hour, how much is the total overhead allocated to a job that used 50 labor hours? (see page 2-13-14) 9. The allocation of $5,000 overhead cost to a job requires a debit to credit to account? See page 2-15 and a 10. The journal entries to record the completion of a job requires a debit to Finished Goods and a credit to _account? See page 2-16) 11. Recording sales revenue requires recording two sets of journal entries, one to record sales revenue and the other to record ? (see page2-16) 12. The entry to adjust under-applied overhead requires a credit to MOH account and a debit to account? (see pag2- 1. A company that builds a special airplane for a customer probably need to use Process costing system. True or False (see page 2-2-3) 2. Articulate (state) the flow of cost (e.g., materials) through job order system (see Exhibit 2-3, page 2-5). 3. The purchase of materials on account probably necessitates recording a credit to Account Payable and a debit to ? (see page 2-6) Account is debited when materials are used in a hob (see 4. page 2-8). 5. The consumption of labor in a job in the amount of $1,000 requires a credit to cash or salary payable and a debit to _account? (aee page 2-10) 6. Articulate the formula used to calculate Predetermined Overhead Rate. (see page 2-11). 7. What account is debited when actual overhead is incurred in the amount of $2.000? (see page 2-10) 8. Given a predetermined overhead rate of $10 per labor hour, how much is the total overhead allocated to a job that used 50 labor hours? (see page 2-13-14) 9. The allocation of $5,000 overhead cost to a job requires a debit to credit to account? See page 2-15 and a 10. The journal entries to record the completion of a job requires a debit to Finished Goods and a credit to _account? See page 2-16) 11. Recording sales revenue requires recording two sets of journal entries, one to record sales revenue and the other to record ? (see page2-16) 12. The entry to adjust under-applied overhead requires a credit to MOH account and a debit to account? (see pag2