Which company is most likely to use process costing?

Group of answer choices

A manufacturer of nuclear reactors

A construction contractor

A paint manufacturer

A textbook publisher

Flag question: Question 19Question 192 pts

Which company is LEAST likely to use job-order costing?

Group of answer choices

Furniture maker

Printer

Construction company

Wine maker

None of the Above

Flag question: Question 20Question 202.5 pts

The recording of the jobs completed would include a credit to which account?

Group of answer choices

Factory Overhead

Finished Goods

Work in Process

Cost of Goods Sold

Flag question: Question 21Question 212 pts

Which of the following is an example of direct labor cost for an airplane manufacturer?

Group of answer choices

Cost of oil lubricants for factory machinery

Salary of plant supervisor

Cost of jet engines

Cost of wages of pilot and flight crew

Cost of wages of assembly worker

Flag question: Question 22Question 222 pts

Conversion costs are made up of:

Group of answer choices

materials and labor

product costs and labor

labor and factory overhead

factory overhead and product costs

All of the Above

Flag question: Question 23Question 233 pts

Which statement is NOT true?

Group of answer choices

Work in process inventory account appears on the balance sheet

Materials inventory account contains only direct materials

Finished goods inventory account is valued at the selling price of the goods manufactured

All of the statements are true

Flag question: Question 24Question 242 pts

The entry to record direct labor costs into production in a job order cost accounting system is:

Group of answer choices

debit Work in Process, credit Wages Payable

debit Finished Goods, credit Wages Payable

debit Factory Overhead, credit Work in Process

debit Factory Overhead, credit Wages Payable