
Chapter 15A Review
Authored by Madeline Hoffman
Mathematics
University
Used 3+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Cost accounting involves the measuring, recording, and reporting of:
product and service costs
future costs
payroll processes
financial accounting decisions
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A company is more likely to use a job order cost system if:
it manufactures a large volume of similar products
its production is continuous
it manufactures products with unique characteristics
it uses a periodic inventory system
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In accumulating raw materials costs, companies add the cost of raw materials purchased to:
Raw Materials Inventory
Purchases
Work In Process
Finished Goods
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
When incurred, factory labor costs are added to:
Work in Process
Factory Wages Expense
Factory Labor
Finished Goods
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
When a good or service is sold, the cost assigned to that good is moved from Finished Goods to which account?
Work In Process
Finished Goods
Cost of Goods Manufactured
Cost of Goods Sold Expense
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
When a good or service is completed, the cost assigned to that good is moved from Work in Process to which account?
Raw Materials Inventory
Finished Goods
Cost of Goods Sold Expense
Factory Labor
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The sources of information for assigning costs to job cost sheets are:
materials requisition slips, time tickets, and the actual overhead costs
materials requisition slips, payroll register, and the predetermined overhead rate
materials requisition slips, time tickets, and the predetermined overhead rate
invoices, time tickets, and the predetermined overhead rate
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