19) Which of the following is a reason why a job order costing furniture manufacturer? costing A) The raw materials used have already been B) Custom furniture C) The cost incurred for each job accounted for using process will differ as per the order specifications direct costs incurred for each job are the same, only indirect costs vary period cost for a manufacturing company? 20) Which of the following would be considered a A) indirect materials B) sales salaries factory utilities D) direct 21) Which of the following would be considered a product cost for a on delivery vehicles on on administrative building furniture and fixtures A) 8) depreciat C) depreciation on manufacturing equipment D) depreciation on the accounting department's computer equipment goods sold when 22) Costs are transferred from the balance sheet to the income statement as cost of A) finished goods are sold account to the Finished Goods Inventory B) goods are transferred from the Work-in-Process account Inventory C) direct materials, direct labor and manufacturing overhead are transferred to the beginning Work-in- Process Inventory account D) the total of Cost of Goods Manufactured is determined 23) When a job order costing system is used, actual manufacturing overhead costs are debited to A) expense accounts B) the Manufacturing Overhead account D) the Work-In-Process Inventory account C) the Cost of Goods Sold account 24) The predetermined overhead allocation rate is calculated by dividing A) the total estimated overhead costs by total number of days in a year 8) the estimated amount of cost driver by actual total overhead costs C) the actual overhead costs by actual amount of the cost driver or allocation b D) the estimated overhead costs by total estima ted quantity of the overhead allocation base 25) Which of the following is NOT traditionally used by companies as the primary cost drivers of manufacturing overhead costs? A) direct labor hours C) direct materials 8) direct labor costs D) machine hours 19) Which of the following is a reason why a job order costing furniture manufacturer? costing A) The raw materials used have already been B) Custom furniture C) The cost incurred for each job accounted for using process will differ as per the order specifications direct costs incurred for each job are the same, only indirect costs vary period cost for a manufacturing company? 20) Which of the following would be considered a A) indirect materials B) sales salaries factory utilities D) direct 21) Which of the following would be considered a product cost for a on delivery vehicles on on administrative building furniture and fixtures A) 8) depreciat C) depreciation on manufacturing equipment D) depreciation on the accounting department's computer equipment goods sold when 22) Costs are transferred from the balance sheet to the income statement as cost of A) finished goods are sold account to the Finished Goods Inventory B) goods are transferred from the Work-in-Process account Inventory C) direct materials, direct labor and manufacturing overhead are transferred to the beginning Work-in- Process Inventory account D) the total of Cost of Goods Manufactured is determined 23) When a job order costing system is used, actual manufacturing overhead costs are debited to A) expense accounts B) the Manufacturing Overhead account D) the Work-In-Process Inventory account C) the Cost of Goods Sold account 24) The predetermined overhead allocation rate is calculated by dividing A) the total estimated overhead costs by total number of days in a year 8) the estimated amount of cost driver by actual total overhead costs C) the actual overhead costs by actual amount of the cost driver or allocation b D) the estimated overhead costs by total estima ted quantity of the overhead allocation base 25) Which of the following is NOT traditionally used by companies as the primary cost drivers of manufacturing overhead costs? A) direct labor hours C) direct materials 8) direct labor costs D) machine hours
