#29-31

29) The follewing statements are Eals as it rsgards The Cost Accounting Satem a. A Perpetual system is used in this system. b. The two systems for Cost Accounting are Job and Process. e. Job Order Costing computes cost to a specific job. d. Process Cost are not calculated upon the time period but the job. a) A is False b) B is False c) C is False d)D is False 30) The following statements are False as it regards Manufasturing Cesti a) The purpose of raw materials to be used in production results becoes of the Cost of Goods Manufactured. B) Employee wages are the Direct Labor cost of Manufacturing e) Cost which can not be attributed direetly to a produet is Overhead. d) Overhead is assigned to Finished Goods and not to Work in Process. a) A is False b) B is False c) C is False d) D is False 31) The following statements are Ealse as it reards Cost of Goods Manufactursd a) The beginning Finished Goods Inventory is the basis for these costs. b) Beginning WIP cost are assigned from the previous period's cost e) The ending WIP is deducted from the Finished Goods plus WIP to determine the Finished Goods Inventory. d) There is no difference between the Cost of Goods Sold Statement for a Manufacturer and a Service Corporation ) A is False b) B is False C) C is False D) D is False 32) The following statements are False as it regards Joh Order Costing for a) Raw Materials, WIP, Finished Goods are charged to Inventory in a Service b) Serviee corporation's expenses indirectly associated with a service are debited to the Operating Overhead of Service account e) Operating Overhead is assigned to the Service in Process. d) Supplies used in a process are credited to a Service in Process. a) b) c) d) A is False B is False Cis False D Is False