Job Order and Process Costing Systems - Quiz Essay

1908 Words Oct 3rd, 2013 8 Pages
1. | Question : | (TCO F) Assume there is no beginning work in process inventory and the ending work in process inventory is 100% complete with respect to materials costs. The number of equivalent units with respect to materials costs under the weighted-average method is: | | | Student Answer: | x | the same as the number of units put into production. | | | | less than the number of units put into production. | | | | the same as the number of units completed. | | | | less than the number of units completed. | | Instructor Explanation: | Chapter 4 | | | | Points Received: | 5 of 5 | | Comments: | Great job | | |

2. | Question : | (TCO F) Process costing would be appropriate for
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| Question : | (TCO F) The journal entry to record the incurrence of indirect labor costs is: | | | Student Answer: | | a Wages Payable | XXX | | | Manufacturing Overhead | | XXX | | | | | | | | | b Work In Process | XXX | | | Wages Payable | | XXX | | | | | | | x | | c Manufacturing Overhead | XXX | | | Wages Payable | | XXX | | | | | | | | | d Wages Payable | XXX | | | Work in Process | | XXX | | | | | | | Instructor Explanation: | Chapter 3 | | | | Points Received: | 5 of 5