1. A job order cost sheet includes a. the selling price of the job.
b. a total when a job is completed and transferred to cost of goods sold.
c. all manufacturing costs for a job.
d. all manufacturing overhead costs for the period.
2. Companies assign raw materials costs to jobs
a. By debiting Raw Materials Inventory and crediting Work in Process.
b. Based on a predetermined rate.
c. In response to verbal requests for indirect materials such as supplies.
d. Using any of the inventory costing methods (FIFO, LIFO, or average-cost).
3. In a job order cost system, debits to Work in Process Inventory originate from all of the following except
a. applying the predetermined overhead rate.
b. assigning direct labor from time tickets.
c. assigning actual manufacturing overhead costs to jobs.
d. assigning direct materials from requisition slips.
4. The predetermined overhead rate is computed by dividing estimated
a. level of activity by estimated overhead costs.
b. level of activity by expected overhead costs.
c. overhead costs by estimated cost of jobs.
d. overhead costs by expected activity base.
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