You are watching: In a process cost system, a production cost report is prepared
d. Is assigned to a job-related in process account because that each production department/process top top the communication of a predetermined overhead rate.
Conversion expenses are the amount ofa. Direct labor and indirect labor costs.b. Job costs and also overhead costs.c. Fixed and also variable overhead costs.d. Direct material costs and overhead costs.
Of the four steps in preparing a production expense report, which step occurs first?a. Prepare a price reconciliation schedule.b. Compute the physics unit flow.c. Compute equivalent units the production.d. Compute unit production costs.
The last step in preparing a production price report is toa. Compute tantamount units the production.b. Compute the physics unit flow.c. Prepare a price reconciliation schedule.d. Compute unit production costs.
The cost reconciliation schedule mirrors that the totala. Prices accounted for equal the full costs come be accounted for.b. Devices to be accounted for equal the complete costs to be accounted for.c. Costs accounted for equal the complete units accounting for.d. Devices to be accounted for equal the total units accounted for.
A process cost audit system is most suitable whena. Individual commodities are practice made to the specification of customers.b. Similar products room mass-produced.c. A variety of different commodities are produced, each one request different species of materials, labor, and also overhead.d. The focus of attention is ~ above a particular job or order.
c. A range of different assets are produced, every one request different types of materials, labor, and overhead.
A characteristic of assets that room mass-produced in a continuous fashion is thata. They room grouped in batches.b. Lock are produced at the time an order is received.c. Their prices are accumulated on job expense sheets.d. The products are identical or very similar in nature.
A process cost mechanism would be provided for every one of the following assets excepta. Chemicals.b. Computer chips.c. Activity pictures.d. Soft drinks.
In a procedure cost system,a. A work in procedure account is kept for every product.b. One work in procedure account is preserved for all the processes, similar to a project order price system.c. A products requisition must recognize the task on i beg your pardon the products will it is in used.d. A work in procedure account is kept for every process.
Which the the complying with is correct regarding cost systems? project Order procedure a. Occupational in process account several oneb. Work-related in procedure account number of one for each processc. Job-related in procedure account one oned. Job-related in process account one one for each process
In procedure cost accounting, manufacturing expenses are summary on aa. Production expense report.b. Project order cost sheet.c. Manufacturing cost sheet.d. Process order price sheet.
Which that the complying with manufacturing cost aspects occurs in a procedure cost system?a. Direct materials.b. Direct labor.c. Production overhead.d. All of these.
A product requires handling in two departments, the Baking Department and then the Packaging Department, before it is completed. Costs transferred out of the Baking Department will certainly be moved to:a. Work-related in Process—Packaging Department.b. Finished items Inventory.c. Manufacturing Overhead.d. Cost of goods Sold.
In a process cost system, a production price report is prepareda. Because that each processing department.b. Just for the last handling department.c. Only for the first processing department.d. For every departments in the aggregate.
A production cost reporta. Is ready from a job expense sheet.b. Will display quantity and cost data because that a manufacturing department.c. Is all set for every product.d. Will not identify a certain department if an ext than one department is connected in the production process.
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Equivalent units of production are a measure ofa. The work-related done in a period expressed in totally completed units.b. Devices completed and also transferred out.c. Systems in ending work in process.d. Units moved out.
Fundamental Financial accounting Concepts10th EditionDanita Kelley, Gaile Moe, Gordon M Wardlaw, Jacqueline Berning