Exam 2: Job Order Costing

Six selected transactions for the current month are indicated by letters in the following T accounts in a job order cost accounting system: Materials Work in Process a a d b c Wages Payable f b Factory Overhead Finished Goods a c d e b f f Cost of Goods Sold e f Describe each of the six transactions.

The direct labor and overhead costs of providing services to clients are accumulated in

Costs that are treated as assets until the product is sold are

The period costs of a textbook printer would include

Perpetual inventory controlling accounts and subsidiary ledgers are maintained for materials, work in process, and finished goods in job order costing systems.

Cavy Company estimates that total factory overhead costs will be $660,000 for the year.Direct labor hours are estimated to be 100,000. Determine a the predetermined factory overhead rate; b the amount of factory overhead applied to Job 345 if the amount of direct labor hours is 560 and Job 777 if the amount of direct labor hours is 800; and c prepare the journal entry to apply factory overhead for April according to the predetermined overhead rate.

Materials purchased on account during the month totaled $190,000.Materials requisitioned and placed in production totaled $165,000.The journal entry to record the material purchase on account is

The following budget data are available for Sharp Company: If factory overhead is to be applied based on direct labor dollars, the predetermined overhead rate is

Which of the following is a period cost?

Match the costs that follow to the type of product cost a-c or designate as not a product cost d. -factory supervisor's salary

Which of the following products would be manufactured using a job order costing system?

Which of the following entries would not be found on the books of a service provider?

The document authorizing the issuance of materials from the storeroom is a

Sanders Inc.has applied $567,988 of overhead to jobs in the cost ledger.Actual overhead at the end of the year is $575,000.The adjustment for over or under applied overhead is

Which of the following is the formula to calculate the predetermined factory overhead rate?