QUESTION 11 When direct materials are issued from inventory to production under a job order costing system, an increase is recorded in A Manufacturing Overhead Control B Materials Inventory Control C Finished Goods Inventory Control D Work in Process Inventory Control QUESTION 12 Which of the following types of product costs appear in the financial statements A Normal costs B Estimated costs C Actual costs D Standard costs QUESTION 13 Manufacturing costs assigned to inventory should appear on the income statement in the period in which A the purchase order to manufacture the goods is received B the sale of the goods is recorded C the goods are completed D cash is collected for the goods sold QUESTION 14 Uses only monetary measures for reports A Financial Accounting B Managerial Accounting QUESTION 15 If a company uses a process costing system to account for costs in its four production departments, how many Work in Process accounts will it use A 5 B 3 C 4 D 1 QUESTION 16 Which of the following is not expected from a product costing system A Ending values for all inventory accounts B Ideas for new products C Unit cost information D Data that will support management decisions QUESTION 17 Which of the following applies to process costing but not to job order costing A Equivalent units of production B Only one Work in Process Inventory account C Production of unique items D Multiple unit job order QUESTION 18 The total of the dollar amounts on the job order cost cards that have not been completed would be equal to the A Cost of Goods Sold account B cost of goods completed C balance in the Finished Goods Inventory Control account D balance in the Work in Process Inventory Control account

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QUESTION 11 When direct materials are issued from inventory to production under a job order costing system, an increase is recorded in A.Manufacturing Overhead Control.

QUESTION 11

When direct materials are issued from inventory to production under a job order costing system, an increase is recorded in

A.Manufacturing Overhead Control. B.Materials Inventory Control. C.Finished Goods Inventory Control. D.Work in Process Inventory Control.

QUESTION 12

Which of the following types of product costs appear in the financial statements?

A.Normal costs B.Estimated costs C.Actual costs D.Standard costs

QUESTION 13

Manufacturing costs assigned to inventory should appear on the income statement in the period in which

A.the purchase order to manufacture the goods is received. B.the sale of the goods is recorded. C.the goods are completed. D.cash is collected for the goods sold.

QUESTION 14

Uses only monetary measures for reports

A.Financial Accounting B.Managerial Accounting

QUESTION 15

If a company uses a process costing system to account for costs in its four production departments, how many Work in Process accounts will it use?

A.5 B.3 C.4 D.1

QUESTION 16

Which of the following is not expected from a product costing system?

A.Ending values for all inventory accounts B.Ideas for new products C.Unit cost information D.Data that will support management decisions

QUESTION 17

Which of the following applies to process costing but not to job order costing?

A.Equivalent units of production B.Only one Work in Process Inventory account C.Production of unique items D.Multiple unit job order

QUESTION 18

The total of the dollar amounts on the job order cost cards that have not been completed would be equal to the

A.Cost of Goods Sold account. B.cost of goods completed. C.balance in the Finished Goods Inventory Control account. D.balance in the Work in Process Inventory Control account.