Managerial Accounting – UFC1
| A project price sheet reflects information around each of the complying with items except: | The expenses incurred by the marketing department in marketing the task. You are watching: There are two basic types of cost accounting systems: job order costing and periodic costing. |
| At present year-finish Hardly Company found that its overhead was under used by $2,500, and this amount was not deemed to be a material amount. Based on this indevelopment, Hardly should: | Cshed the $2500 to Cost of Goods Sold |
| When raw materials are offered in production and are videotaped in job expense system: | Goods in Process and also Factory Overhead are debited and Raw Materials Inventory is credit. |
| A source document that an employee offers to document the variety of hours at work-related and also that is offered to identify the complete labor cost for each pay period is a: | Clock Card |
| When time ticket information is entered into the bookkeeping device, the journal entry is a delittle bit to factory payroll and also a crmodify to Goods in Process Inventory. | False |
| If overhead used is much less than actual overhead, it is: | Under applied |
| Materials requisitions and time tickets are price bookkeeping resource documents | true |
| A time ticket is a resource record used by an employee to record the variety of hrs worked on a certain task in the time of the work day. | true |
| Tright here are two basic forms of price audit systems: project order costing and also Periodic costing | false |
| A manufacturing firm that produces a huge numbers of standardized devices would generally usage a job order cost audit mechanism. | false |
| Dell Builders manufactures each residence to customer specifications. It the majority of most likely would use: | job order costing. |
| The overhead cost applied to a job throughout a duration is videotaped with a credit to Factory Overhead and also a delittle to: | Goods in Process Inventory |
| Job order production devices would be appropriate for suppliers that produce training films for a certain customer or custom-made furniture to be supplied in a new 5 star rekind htoel. | true |
| A project price sheet includes: | Direct material, straight labor, overhead |
| IN a job order accounting system, the complete balances of all of the project price sheets for unfiniburned tasks equal the balance in the Goods in Process Inventory account. | true |
| The preestablished overhead allocation price is offered to use overhead expense to products. See more: Let Justice Be Done Though The Heavens May Fall, Ubc Law: History | true |
| A source record that production managers use to repursuit products for manufacturing and also that is supplied to asauthorize materials expenses to particular work or to overhead is a: | products requisition |
| Cost audit systems accumulate costs and also then assign them to products or services. | true |