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1) Job cost sheets always contain entries for actual direct material, actual direct labour, and actual manufacturing overhead cost incurred in completing a job. true
1) Job cost sheets always contain entries for actual direct material, actual direct labour, and actual manufacturing overhead cost incurred in completing a job. true (.) false 2) The most common accounting treatment of underapplied manuficturing overhead is to transfer it to Cost of Goods Sold. 3) In job-order costing, the Work in Process inventory account contains the actual costs of direct labour, direct. materials, and manufacturing overhead incurred on partially completed jobs. (9) true (.) false 4) Job-order costing would be more likely to be used than process costing in situations where many different. products or services are produced each period to customer specifications. 5) In process costing, the same equuivalent units figure is always used for both materials and conversion costs. ( () true false 6) When assigning costs to partially completed units in the ending work in process inventory, it is not necessary to consider the percentage completion of the units under the weighted-average method. true(()false. 7) When computing the cost per equivalent unit, it is not necessary to consider the percentage completion of the units in beginning inventory under the weighted-average method. true filse 8) In process costing, costs are accumulated in processing departments, rather than by job. true false 9) In process costing, a separate Work in Process account is maintained for cach processing department. (2) true false 10) Instead of using a job cost sheet, in process costing production reports are prepared for each department (or process) to accumulate costs of production and to account for units worked on. true false 11) Using the weighted-average method, the material and conversion costs in opening work in process at the beginning of a period are considered in determining the costs per equivalent unit for that period. ( ) true false
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