FAQ Topic 7&8

FAQ Topic 7&8

University

25 Qs

quiz-placeholder

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FAQ Topic 7&8

FAQ Topic 7&8

Assessment

Quiz

Other

University

Practice Problem

Hard

Created by

suzana hezir

Used 5+ times

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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Process cost accounting focuses on the process involved in mass-producing products that are very similar in nature.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A job order cost system identifies costs with a particular job rather than with a set time period.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The assignment of the three manufacturing cost elements to Work in Process in a process cost system is the same as in a job order cost system.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

There should be a separate job cost sheet for each job.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

One similarity of process cost accounting with job order cost accounting is that both determine total manufacturing costs after each job.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A process cost system would most likely be used by a company that makes

motion pictures

repairs to automobiles

breakfast cereal

college graduation announcements

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Differences between a job order cost system and a process cost system include all of the following except the

documents used to track costs

point at which costs are totaled

unit cost computations

flow of costs

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