Beginning work in process is equal to a.ending work in process plus manufacturing costs incurred during the current period b.cost of goods manufactured plus ending work in process minus manufacturing costs incurred during the current period c.cost of goods manufactured minus ending work in process plus manufacturing costs incurred during the current period d.manufacturing costs incurred during the current period minus ending work in process

Beginning work in process is equal to a.ending work in process plus manufacturing costs incurred during the current period b.cost of goods manufactured plus ending work in process minus manufacturing costs incurred during the current period c.cost of goods manufactured minus ending work in process plus manufacturing costs incurred during the current period d.manufacturing costs incurred during the current period minus ending work in process

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 10MC: Assigning indirect costs to specific jobs is completed by which of the following? applying the costs...

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Similar questions

Conversion costs include all of the following except: A. wages of production workers B. depreciation on factory equipment C. factory utilities D. direct materials purchased
Which of the following is a prime cost? A. indirect materials B. direct labor C. administrative expenses D. factory depreciation expenses
Which is nor needed to compute equivalent units of production? A. the percentage of completion for inventory still in process B. the number of units transferred out C. the number of units started and completed D. the material cost per unit
During production, how are the costs in process costing accumulated? A. to cost of goods sold B. to each individual product C. to manufacturing overhead D. to each individual department
Which of the following is a prime cost? A. direct labor B. work in process inventory C. administrative labor D. factory maintenance expenses
If some units are normally lost during the manufacturing process and the remaining good units absorb the cost, what effect does this have on the unit cost of goods finished during the period and the cost of the work in process at the end of the period?
Which is the correct formula for computing the overhead rate? A. estimated use of the cost driver for production/estimated overhead for the activity B. estimated overhead for the product/estimated use of the cost driver for the activity C. estimated use of the cost driver for production/estimated overhead for the activity D. estimated overhead for the activity/estimated use of the cost driver for the activity
In a job order cost system, utility expense incurred is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
In a job order cost system, indirect labor incurred is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
Assigning indirect costs to specific jobs is completed by which of the following? applying the costs to manufacturing overhead using the predetermined overhead rate using the manufacturing costs incurred applying the indirect labor to the work in process inventory
Beginning work in process is equal to a.cost of goods manufactured plus ending work in process minus manufacturing costs incurred during the current period b.cost of goods manufactured minus ending work in process plus manufacturing costs incurred during the current period c.manufacturing costs incurred during the current period minus ending work in process d.ending work in process plus manufacturing costs incurred during the current period
Cost of Goods manufactured is equal to: A. Beginning W.I.P. + Manufacturing Cost less indirect cost applied – Ending W.I.P B. Beginning W.I.P. + Direct material used during current period + Direct Labour cost for current period + Manufacturing overhead applied for current period – Ending W.I.P C. Beginning W.I.P. less indirect manufacturing overhead + Direct material used during current period + Direct Labour cost for current period + Manufacturing overhead applied for current period – Ending W.I.P D. Beginning W.I.P. less period cost + Manufacturing Cost less indirect cost applied – Ending W.I.P