WorksheetsCost Accounting 1
Total questions: 10
Worksheet time: 20mins
Direct material costs are
Prime and conversion costs
Prime and manufacturing costs
Conversion and manufacturing costs
Prime, conversion and manufacturing costs
Utilities expense incurred in production facilities (e.g., water, heat and light) is classified as
Factory overhead
Period cost
Prime cost
Administrative overhead
Actual, normal and standard cost systems may be used in conjunction with
Process costing only
Job order costing only
Either job order or process costing
Neither job order nor process costing
Which one is most likely to use process costing in accounting for production costs?
Road builder
Electrical contractor
Newspaper publisher
Automobile repair shop
In job order cost system, direct labor costs usually are recorded initially as an increase in
Factory overhead applied
Factory overhead control
Finished goods
Work in process
In job order costing, the application of Factory Overhead would be reflected in the general ledger as an increase in
Factory overhead control
Finished goods
Work in process
Cost of goods sold
In a well controlled materials system, the Purchasing agent performs the following activities except the
placing of purchase orders with suppliers
receiving of purchase requisitions
approving and checking invoices
preparation of purchase order
The receiving department does all of the following except:
unloads and unpacks incoming materials
keeps informed concerning sources of supply, prices, and delivery schedules
matches materials received with descriptions on purchase orders
arranges for inspection, when necessary
The purchasing department performs all of the following functions except:
compares quantities received with the suppliers' packing list
receives purchase requisitions for materials
keeps informed concerning sources of supply, prices and delivery schedules
prepares and places purchase orders
In a job order cost system, the use of direct materials previously purchased usually is recorded as an increase in:
Work in process
Factory overhead control
Factory overhead applied
Materials Inventory
