Q: A variable overhead spending variance can occur because a.
A variable overhead spending variance can occur because a. prices for individual overhead items have increased. b. prices for individual overhead items have decreased. c. more of an individual overhe...
See AnswerQ: La Cucina Company sells kitchen supplies and housewares. Lava stone is
La Cucina Company sells kitchen supplies and housewares. Lava stone is used in production of molcajetes (mortars and pestles used in the making of guacamole) and is purchased from external suppliers....
See AnswerQ: Because the calculation of both variances is based on direct labor hours
Because the calculation of both variances is based on direct labor hours, a favorable labor efficiency variance implies that a. the variable overhead efficiency variance will be favorable. b. the var...
See AnswerQ: The total variable overhead variance can be expressed as the sum of
The total variable overhead variance can be expressed as the sum of a. the under applied variable overhead and the spending variance. b. the efficiency variance and the over applied variable overhead...
See AnswerQ: Which of the following statements is true? a.
Which of the following statements is true? a. Job-order costing is used only in manufacturing firms. b. Process costing is used only for services. c. Job-order costing is simpler to use than process...
See AnswerQ: When materials are requisitioned for use in production in a job-
When materials are requisitioned for use in production in a job-order costing firm, the cost of materials is added to the a. raw materials account. b. work-in-process account. c. finished goods accou...
See AnswerQ: When a job is completed, the total cost of the job
When a job is completed, the total cost of the job is a. subtracted from the raw materials account. b. added to the work-in-process account. c. added to the finished goods account. d. added to the ac...
See AnswerQ: The costs of a job are accounted for on the
The costs of a job are accounted for on the a. materials requisition sheet. b. time ticket. c. requisition for overhead application. d. sales invoice. e. job-order cost sheet.
See AnswerQ: For September, Murphy Company has manufacturing costs in BWIP equal to
For September, Murphy Company has manufacturing costs in BWIP equal to $100,000. During September, the manufacturing costs incurred were $550,000. Using the weighted average method, Murphy had 100,000...
See AnswerQ: During June, Faust Manufacturing started and completed 80,000 units
During June, Faust Manufacturing started and completed 80,000 units. In BWIP, there were 25,000 units, 80% complete. In EWIP, there were 25,000 units, 60% complete. Using FIFO, the equivalent units ar...
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