1. Which of the following would be accounted for using a job order cost system? a. b. c. d. The production of personal computers. The production of automobiles. The refining of petroleum. The construction of a new campus building. 2. The principal accounting record used in assigning costs to jobs is a. a job cost sheet. b. the cost of goods manufactured schedule. c. the Manufacturing Overhead control account. d. the stores ledger cards. 3. A company expected its annual factory overhead costs to be $1,500,000 and direct labor costs to be $1,000,000. Actual factory overhead was $1,450,000, and actual labor costs totaled $1,100,000. How much is the company's predetermined overhead rate to the nearest cent? a. b. c. d. $1.45 $1.31 $1.50 $1.37 a. 4. Factory overhead is applied to each job at the time when the overhead cost is incurred. b. by means of a predetermined overhead rate. at the end of the year when actual costs are known. d. only if the overhead costs can be directly traced to that job. c. 5. At the end of the year, any balance in the Factory Overhead account is generally eliminated by adjusting a. b. c. d. Work In Process Inventory. Finished Goods Inventory. Cost of Goods Sold. Raw Materials Inventory