1) Under job-order costing, when a special rush order is received from a customer and employees must work overtime to complete the special rush order, the overtime premium is normally charged to:

General and administrative expenses

Accrued overtime premium receivable

Manufacturing overhead

Work in Process

2) In the calculation of manufacturing cost per equivalent unit of production, the FIFO method of process costing considers:

Current period costs only

current period costs plus cost of beginning work in process inventory

current period costs plus cost of ending work in process inventory

current period costs less cost of beginning work in process inventory

3) Cruz Company had 10,000 units in work in process on January 1 (in beginning WIP) that were 30 percent complete with respect to materials and 20% complete with respect to conversion. In determining equivalent units of production for materials for January, what quantity should be included related to beginning inventory?

3,000

7,000

10,000

4) Transferred-in costs (under process costing) refers to:

Costs in beginning work in process

Costs of units received from another (prior) department

Costs of service departments allocated to production departments

Factory overhead applied to work in process during the period