1. In job-order costing, the job-order cost sheet is generally represented by

A. The WIP account

B. The DM account

C. The COGS statement

D. The balance sheet

E. None of the above

2. A materials requisition form is typically used to

A. Apply indirect materials overhead to a job

B. Purchase materials

C. Issue materials to a WIP account

D. Clean the windows of the production manager's car

E. None of the above

3. A debit entry to the overhead control account represents

A.Applied overhead

B.Actual overhead costs

C.Only cash paid for overhead costs

D. All of the above

E. None of the above

4. The cost of goods manufactured statement is an analysis of

A. Production costs incurred only in the current period

B. Depreciation

C. The WIP account

D. The FG account

E. None of the above

5. Equivalent units represent

A. The amount of direct materials included in units completed and transferred out

B. The number of units that would have been completed if they were worked on one at a time

C. The average number of units completed each period

D. The total number of units available for completion in a given period

E. None of the above

6. A management accountant must "Disclose delays or deficiencies in information, timeliness, processing, or internal controls in conformance with organization policy and/or applicable law." Under the IMA Statement of Ethical Professional Practice, this falls under the category of

A. Competence

B. Confidentiality

C. Integrity

D. Credibility

E. None of the above

7. If the balance before adjustments in the overhead control account is considered material and significant, it should be

A. Closed out to the COGS account

B. Closed out proportionally to the FG and COGS accounts

C. Closed out proportionally to the WIP, FG and COGS accounts

D. Closed out proportionally to the DM, WIP, FG and COGS accounts

E. None of the above

8. A management accountant must "Abstain from engaging in or supporting any activity that might discredit the profession."Under the IMA Statement of Ethical Professional Practice, this falls under the category of

A. Competence

B. Confidentiality

C. Integrity

D. Credibility

E. None of the above

9. Job-order costing is always used

A. When each order is unique

B. When products are produced in large batches

C. If all product costs are added simultaneously

D. In large chemical processing facilities

E. None of the above

10. In process costing, the primary purpose of a production report is to

A. Summarize the manufacturing activity of a process or department

B. Present a cost/benefit analysis of a particular product or process

C. Report performance evaluations for key personnel

D. Clean the tiles in the executive restroom to achieve that sparkly shine

E. None of the above