Costs and Manufacturing Overhead

Topics: Costs, Inventory, Accounts receivable Pages: 11 (1844 words) Published: October 11, 2013
what is the formula for predetermined overhead rate
-estimated manufacturing overhead cost divided by estimated

which of manufacturing overhead
-it can, it must be a manufacturing, indirect

labor costs that are easily traced to a job
-direct

which of indirect labor cost examples
-maintenance

into which of the companies classify manufacturing cost
-direct labor, manufacturing, direct, materials

a factor that causes overhead costs is called
-cost driver

what kinds of costs are assigned to units of product in absorption costing -variable manufacturing, fixed manufacturing

a journal entry that debits raw materials and credits accounts payable is recording the -purchase of materials

put the steps for calculating direct materials on the schedule of cost of goods manufactured in order -raw materials inventory, add, total, deduct raw, raw materials, deduct indirect

what account is debited for the issuance of direct materials -work in process

a job cost sheet contains
-manufacturing, materials, labor

when a job is completed its costs are transferred out of
-finished goods

smith inc uses a job order costing system with the predetermined overhead direct materials + direct labor+pre overdead rate*actual machine-hours=43200

what is the formula for applying overhead to a specific job
-predetermined

which costs can be directly traced to a particular product
-direct labor, direct materials
what is debited in the debited in the journal entry to record the purchase of materials -raw materials

what accounts are debited in the journal ..production
-work in process and manufacturing

manufacturing overhead costs
-are indirect, consist

What is credited in the journal…materials
-accounts payable

the schedule of cost of goods
-manufactured

Manufacturing overhead costs consist of all manufacturing costs other direct -true

Which of included in total cost if a job
-applied, direct materials, direct labor

when a job is completed its costs are transferred into
-finished goods

Which of widely used allocation manufacturing
-direct labor cost, hours, machine, units

what account is debited for the issuance of indirect materials -manufacturing overhead

place these items in the order in which they appear on the schedule of cost of goods sold -goods,deduct,unadjusted, add, adjusted

place these items in the order in which they appear on the schedule of cost of goods sold -finished, add, good, deduct, unadjusted

compared to a plantwide overhead rate system a multiple predetermined overhead rate system is -finished,add, good,deduct,unadjusted

the predetermined overhead rate is calculated by dividing the total manufacturing overhead by the total amount of the allocation base -estimated, estimated

a company purchased $70000 0f materials on account
-debit raw materials

a journal entry that debits manufacturing overhead and credits accounts payable -the incurrence of rent, the incurrence of factory

manufacturing overhead consists of
-all manufacturing costs other than direct, all indirect

the transfer of cost from inventory account to the next parallels the physical transfer of goods from one inventory to the next -true

the cost of goods is the sum of amounts transferred from work in process to finished goods during a period -manufactured

the cost of goods is the sum of amounts transferred from work in process to finished goods during a period -finished, cost, work, manufacturing

Fillia inc worked
-51000 completed during the period-jobs 23A and 45B

What two accounts are involved when underapplied
-cost

which costs are charged directly to the income statement
-administrative costs, selling costs

a measure of activity that is used to assign overhead costs to products and services -allocation base

Based on the information presented
-2 per

Which of the following statement are ture
-total, too much

which...
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