Question $16(1$ point$)$

RST$\text{'}$s accountant made the following entry in the accounting records:

Work in Process Inventory

XXX

Raw Materials Inventory

XXX

Which of the choices is correct with regard to the journal entry?

b$.$

Question $16$ options:

a$)$

Total assets and total liabilities increase.

b$)$

Total assets are unaffected, but total equity increases.

c$)$

c$.$ Total assets and total equity are unaffected.

d$)$

d$.$ Total assets decrease and total liabilities increase.

Question $17(1$ point$)$

Sadie Electronics purchased $$12,000$ worth of material on account and used $$14,000$ worth of materials in production. The time ticket indicated $60$ hours worked at $$12$ per hour. Sadie paid cash for $$12,500$ worth of accounts payable for materials. Sadie applied overhead at the rate of $ $0\mathrm{.}50$ per direct material dollar used.

What is the total cost of production?

Question $17$ options:

a$)$

$$18,720$

b$)$

$$18,750$

c$)$

$$20,750$

d$)$

$$21,720$

Question $18(1$ point$)$

Sadie Electronics purchased $$12,000$ worth of material on account and used $$14,000$ worth of materials in production. The time ticket indicated $60$ hours worked at $$12$ per hour. Sadie paid cash for $$12,500$ worth of accounts payable for materials. Sadie applied overhead at the rate of $ $0\mathrm{.}50$ per direct material dollar used. Actual overhead for the period was $$6,000.$

Assuming Sadie paid cash for all items except materials, overhead was

Question $18$ options:

a$)$

perfect; no over or underapplied overhead.

b$)$

applied at $$6,250$ and over applied.

c$)$

underapplied by $$250.$

d$)$

overapplied $$1,000.$

Question $19(1$ point$)$

Which of the following would most likely use a job order costing system?

Question $19$ options:

a$)$

Computer mouse.

b$)$

Audit engagement.

c$)$

Textbook.

d$)$

Dining chairs.

Question $20(1$ point$)$

Transferred in costs

Question $20$ options:

a$)$

represent the total product cost to the receiving department.

b$)$

represent the actual total costs of the shipping department.

c$)$

are often treated as raw material to the receiving department.

d$)$

often transfer inefficiencies from the shipping department to the receiving department.