QUESTION 1

Each of the following represent a management usage of a Job Order Costing system except for...?

	A.	Estimate past job costs
	B.	Furnish performance evaluation information based on profitability of jobs
	C.	Develop budgets and standards
	D.	Establish realistic bids and selling prices

QUESTION 2

Job order costing includes all the following characteristics except for.......?

	A.	User-specific services
	B.	Small quantities
	C.	Track costs by batch of goods by department
	D.	Batches of identifiable, tailor-made products

QUESTION 3

On a Job-order cost sheet, the financial information about a job will include all except for....?

	A.	Total overhead cost
	B.	Direct material
	C.	Budgeted cost information
	D.	Direct labor

QUESTION 4

All of the following are examples of Product and Material Losses except...?

	A.	Bottlenecks
	B.	Defects
	C.	Spoilage
	D.	Production errors

QUESTION 5

A Cost-plus contract is price-setting based upon a designated profit level plus direct costs and some indirect costs.

True

False