Two different questions.. Overhead costs are overapplied if the amount applied toWork in Process is:O a. less than estimated overhead.O b. equal to estimated overhead.c.less than actual overhead incurred.O d. equal to actual overhead incurred.O e. None of the given answer is correct Which of the following manufacturers is most likely touse a job order costing system?O a. Mazoon Dairy factoryO b. none of the given answers is correct.Kleenex tissue boxes factoryO d. Ship building factoryO e. Bahar soap factoryd.

SOLUTION 1- Overhead is over applied when more overhead is applied to the jobs than was actually…

Overhead costs are overapplied if the amount applied to Work in Process is: O a. less than estimated overhead. Ob. O b. equal to estimated overhead. c. less than actual overhead incurred. ualtnactualoverhendincurred

Overhead costs are overapplied if the amount applied to Work in Process is: O a. less than estimated overhead. Ob. O b. equal to estimated overhead. c. less than actual overhead incurred. ualtnactualoverhendincurred

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter4: Job-order Costing And Overhead Application

Section: Chapter Questions

Problem 1MCQ: Which of the following statements is true? a. Job-order costing is used only in manufacturing firms....

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Question

Two different questions..

Overhead costs are overapplied if the amount applied to
Work in Process is:
O a. less than estimated overhead.
O b. equal to estimated overhead.
c.
less than actual overhead incurred.
O d. equal to actual overhead incurred.
O e. None of the given answer is correct

Which of the following manufacturers is most likely to
use a job order costing system?
O a. Mazoon Dairy factory
O b. none of the given answers is correct.
Kleenex tissue boxes factory
O d. Ship building factory
O e. Bahar soap factory
d.

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Which of the following statements is true? a. Job-order costing is used only in manufacturing firms. b. Process costing is used only for services. c. Job-order costing is simpler to use than process costing because the recordkeeping requirements are less. d. The job cost sheet is subsidiary to the work-in-process account. e. All of these.
Job-Order Costing versus Process Costing a. Hospital services b. Custom cabinet making c. Toy manufacturing d. Soft-drink bottling e. Airplane manufacturing (e.g., 767s) f. Personal computer assembly g. Furniture making (e.g., computer desks sold at discount stores) h. Custom furniture making i. Dental services j. Paper manufacturing k. Nut and bolt manufacturing l. Auto repair m. Architectural services n. Landscape design services o. Flashlight manufacturing Required: Identify each of these preceding types of businesses as using either job-order or process costing.
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Which method of determining product costs, job-order costing or process costing, would be more appropriate in each of the following situations?a. An Elmer’s glue factory.b. A textbook publisher such as McGraw-Hill.c. An Exxon oil refinery.d. A facility that makes Minute Maid frozen orange juice.e. A Scott paper mill.f. A custom home builder.g. A shop that customizes vans.h. A manufacturer of specialty chemicals.i. An auto repair shop.j. A Firestone tire manufacturing plant.k. An advertising agency.l. A law office.
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