In: Business and Management

Submitted By lizsimon1984
Words 347
Pages 2
1. (TCO F) Computing unit product costs involves averaging in:

Job-Order Costing
Process Costing





(Points : 5)
Choice A.
Choice B.
Choice C.
Choice D.

2. (TCO F) Process costing would be appropriate for each of the following except: (Points : 5)
custom furniture manufacturing.
oil refining.
grain milling.
newsprint production.

3. (TCO F) Unizat Corporation uses the weighted-average method in its process costing system. The following information pertains to one of the company's processing departments for a recent month:

Material Cost

Beginning work in process

Started during the month

Units completed

Ending work in process

All materials are added at the beginning of the process. The cost per equivalent unit for materials is closest to: (Points : 5)

4. (TCO F) The journal entry to record the incurrence of indirect labor costs is: (Points : 5)
a Wages Payable

Manufacturing Overhead

b Work In Process

Wages Payable

c Manufacturing Overhead

Wages Payable

d Wages Payable

Work in Process

5. (TCO F) Stickles Corporation incurred $79,000 of actual Manufacturing Overhead costs during August. During the same period, the Manufacturing Overhead applied to Work in Process was $75,000. The journal entry to record the incurrence of the actual Manufacturing Overhead costs would include a: (Points : 5)
debit to Manufacturing Overhead of $79,000.
credit to…...

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