9. Under a (n) cost system, the company assigns costs to each job or to each batch of goods. a. activity-based b. job order O. PEOCOS d. value-added e. none of the above Answers 10. Assume that Beaver Company Incurs $30,000 of factory labor costs. of that amount. 526,000 relates to wages payable and $4,000 relates to payroll taxes payable in February. The entry to record factory labor (both direct and indirect) for the month includes a a. credit to Factory Labor for $30,000 b. debit to Factory Wages Payable for $26,000 c. credit to Employer Payroll Taxes Payable for $4,000 d. debit to Employer Payroll Taxes Payable for $4,000 e. none of the above Answer: 11. Ox Company is working on two job orders. The job cost sheets show the following: Direct materials: Job 120 $6,000 and Job 121 $3,600 Direct labor! Job 120 $4,000 and Job 121 $2.000; and Manufacturing overhead: Job 120 $5,000 and Job 121 $2,500. The summary entry to record the assignment of materials to jobs would include a a. debit to Factory Labor for $6,000 b. debit to Manufacturing Overhead for $7,500 c. debit to Raw Materials Inventory for $9, 600 d. debit to Work in Process Inventory for $9, 600 e none of the above Answer: 12. The actual manufacturing overhead for a period was $150,000, the estimated manufacturing overhead for a period was $120,000. The actual machine hours were 40,000, and the estimated machine hours were 30,000. Assuming machine hours are an applicable cost driver, the predetermined overhead rate is - per machine hour. a. $3.75 b. $4.00 c. $5.00 d. $6.00 e. none of the above