Questions from Cost Accounting

Q: Which of the following does not accurately describe the application of job

Which of the following does not accurately describe the application of job-order costing? a. Finished goods that are purchased by customers will directly impact cost of goods sold. b. Indirect manufac...

Q: Sturdy Manufacturing Co. assembled the following cost data for job order

Sturdy Manufacturing Co. assembled the following cost data for job order #23: Direct manufacturing labor………………………..$80,000 Indirect manufacturing labor……………………….12,000 Equipment depreciation…………………………...

Q: For which of the following industries would job-order costing most

For which of the following industries would job-order costing most likely not be appropriate? a. Small business printing. b. Cereal production. c. Home construction. d. Aircraft assembly.

Q: Management accounting deals only with costs.” Do you agree? Explain

Management accounting deals only with costs.” Do you agree? Explain.

Q: ABC Company uses job-order costing and has assembled the following

ABC Company uses job-order costing and has assembled the following cost data for the production and assembly of item X: Direct manufacturing labor wages…………….$35,000 Direct material used…………………………………....

Q: Under Stanford Corporation’s job costing system, manufacturing overhead is applied to

Under Stanford Corporation’s job costing system, manufacturing overhead is applied to work in process using a predetermined annual overhead rate. During November, Year 1, Stanford’s transactions inclu...

Q: Conroe Company is reviewing the data provided by its management accounting system

Conroe Company is reviewing the data provided by its management accounting system. Which of the following statements is/are correct? I. A cost driver is a causal factor that increases the total cost o...

Q: Nobis Company uses an ABC system. Which of the following statements

Nobis Company uses an ABC system. Which of the following statements is/are correct with respect to ABC? I. Departmental costing systems are a refinement of ABC systems. II. ABC systems are useful in m...

Q: Which of the following statements is correct regarding the components of the

Which of the following statements is correct regarding the components of the master budget? a. The cash budget is used to create the capital budget. b. Operating budgets are used to create cash budget...

Q: Which of the following statements is correct regarding the drivers of operating

Which of the following statements is correct regarding the drivers of operating and financial budgets? a. The sales budget will drive the cost of goods sold budget. b. The cost of goods sold budget wi...