Which business would most likely use a job-costing system? A) concrete block producer B) antique automobile restorer C) custom saddle maker D) companies B and C only E) all of these businesses are likely to use job-costing 2. The cost of direct manufacturing labor will be treated as an expense on the income statement when resulting: A) payroll costs are paid B) payroll costs are incurred C) products are completed D) products are sold 3. Actual manufacturing overhead costs are first recorded in the A) Work-in-Process Control account B) Finished Goods Control account C) Manufacturing Overhead Control account D) Cost of Goods Sold account 4. The advantage of using normal costing of actual costing is A) indirect costs are assigned at the end of the year when they are known B) the job cost is more accurate under normal costing C) indirect costs are assigned to jobs on a timelier basis D) normal costing provides a higher gross profit margin
Which business would most likely use a job-costing system?
A) concrete block producer
B) antique automobile restorer
C) custom saddle maker
D) companies B and C only
E) all of these businesses are likely to use job-costing
2. The cost of direct manufacturing labor will be treated as an expense on the income statement when resulting:
A) payroll costs are paid B) payroll costs are incurred
C) products are completed
D) products are sold
3. Actual manufacturing overhead costs are first recorded in the
A) Work-in-Process Control account
B) Finished Goods Control account
C) Manufacturing Overhead Control account
D) Cost of Goods Sold account
4. The advantage of using normal costing of actual costing is
A) indirect costs are assigned at the end of the year when they are known
B) the
C) indirect costs are assigned to jobs on a timelier basis
D) normal costing provides a higher gross profit margin
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