WorksheetsJOB ORDER COSTING
Total questions: 10
Worksheet time: 4mins
Define Job Order Costing
a form of product costing based on departmental process
a form of specific order costing to meet customer’s special requirements
a form of calculation of cost on work in process
a form of product costing on a continuous basis
Job Cost Card will be used to calculate the total cost in JOC
True
False
What are the elements of PRIME COST?
Direct Material
Manufacturing Overheads
Direct Labour
Direct Expense
Period cost
Which company is least likely to use a Job Order Costing system?
Homebuilding company
Furniture production
Food manufacturer
Audit firm
Which of the following source documents is used to record the amount of direct materials on the job cost sheet?
Employee time ticket
Material requisition form
Production cost report
Cash book
Two types of Predetermined Overhead Rates (POHR) are?
Single POHR
Departmental POHR
Mark-up POHR
Margin POHR
Predetermined overhead rate can be calculated based on these allocation basis:
Machine hour
Direct labour hour
Commission rate
Direct labour cost
Applied Overhead formula is:
POHR x Direct labour hours
POHR x Estimated activity
POHR x Actual activity
POHR - Actual activity
Manja Company's budgeted total overhead cost for year 2021 is RM300,000. The total budgeted direct labour hour and machine hour for the year are 45,000 hours and 50,000 hours, respectively. How much the POHR for the company if machine hour is being used as the basis?
RM6.67
RM7
RM6
RM4
Cost per unit is:
Total cost + units sold
Total cost ÷ units produced
Total cost x units produced
Total cost + profit
