Question
1.A materials requisition in a job-order cost system is used as a a) A source document for assigning costs to individual departments. b)A subsidiary account
1.A materials requisition in a job-order cost system is used as a
a) A source document for assigning costs to individual departments.
b)A subsidiary account for recording the materials used on each job.
c)Request form for getting the necessary materials from the materials store room.
d)A means of ordering materials from outside suppliers.
2.in a job-order cost system, the subsidiary accounts for the Work in Process Inventory account are the:
a)Standard cost cards.
b)Job cost sheets.
c)Individual accounts payable accounts.
d)Cost of production report.
3.An example of a product or service that would most likely be accounted for using a process cost system would be:
a)Vitamin manufacturer.
b)Printing services.
c)Manufacturer of motor homes.
d)auto repair services.
4)A process cost system would be appropriate for all of the following except:
a)Production of gasoline.
b)Manufacture of smart phones.
c)Services provided by public accounting firm.
d)Manufacture of granola bars.
5)In which of the following industries would a job-order cost system most likely be used?
a)Oil refinery
b)Small appliances manufacturer
c)Construction of cell towers
d)Beverage manufacturer
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