This quiz works best with JavaScript enabled. Home > Cost Accounting > Job Order Costing > Job Order Costing – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Job Order Costing Quiz 1 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A journal entry to record indirect labor is A) Debit indirect labor, credit manufacturing overhead. B) Debit indirect labor, credit direct labor. C) Debit manufacturing overhead, credit raw material inventory. D) Debit manufacturing overhead, credit factory labor. Show Answer Correct Answer: D) Debit manufacturing overhead, credit factory labor. 2. The joint product costing method that results in the same percentage of gross profit for all products is known as A) Split-off costing method. B) Market value method. C) Actual costing method. D) Physical measure method. Show Answer Correct Answer: B) Market value method. 3. How do you convert a profit margin % to a profit mark-up %? A) Profit Margin % / (100-Profit Margin %). B) 100% / Profit Margin %. C) (Profit Margin %-100%) / Profit Margin %. D) (100%-Profit Margin %) / 100%. Show Answer Correct Answer: A) Profit Margin % / (100-Profit Margin %). 4. Who is most likely to use process costing? A) Accounting firm. B) Soda company. C) Law firm. D) Construction company. Show Answer Correct Answer: B) Soda company. 5. Documents that must be prepared in Job Order Costing, except: A) Time Ticket. B) Materials requisition form. C) Job Cost Sheet. D) Annual report. Show Answer Correct Answer: D) Annual report. 6. One type of business that uses job order costing is: A) Hospital. B) Pharmaceutical Company,. C) All wrong. D) None of above. Show Answer Correct Answer: A) Hospital. 7. Product cost per unit of custom product orders A) Rp 127.750. B) Rp 237.600. C) Rp 236.700. D) Rp 125.750. Show Answer Correct Answer: B) Rp 237.600. 8. Product cost per unit for standard product orders A) Rp 125.750. B) Rp 127.750. C) Rp 236.700. D) Rp 237.600. Show Answer Correct Answer: B) Rp 127.750. 9. Which of the following is the correct statement represents job costing A) Only includes Prime Cost. B) To provide selling price of the product. C) To calculate Cost unit based single job order. D) To identify the cost of productions. Show Answer Correct Answer: C) To calculate Cost unit based single job order. 10. Units completed this period; 50 units are still in progress of which 30% are complete. How many total equivalent units are produced? A) 110. B) 200. C) 215. D) 250. Show Answer Correct Answer: C) 215. 11. Which one of the following is NOT a component of the job order costing system? A) Direct materials. B) Direct labour. C) Manufacturing overhead. D) Advertising expenses. Show Answer Correct Answer: D) Advertising expenses. 12. The following are characteristics of job order costing, except: A) Products are made according to consumer demand. B) Similar products are produced continuously. C) Costs are tracked or allocated to jobs. D) None of above. Show Answer Correct Answer: B) Similar products are produced continuously. 13. Products that do not meet production standards but can still be repaired technically and economically and are still possible to be sold are called ..... A) Damaged product. B) Defective product. C) KW products. D) Produk expired. Show Answer Correct Answer: B) Defective product. 14. In the accounting records, debits to Raw Materials Inventory account represent purchases of materials. Credits to Raw Materials Inventory account represent ..... ? A) Sale of materials. B) Return of materials. C) Issuance of materials to the factory. D) Finished goods. Show Answer Correct Answer: C) Issuance of materials to the factory. 15. Total material requirement A for all orders A) 2.250 unit. B) 1.500 unit. C) 3.500 unit. D) 3.813 unit. Show Answer Correct Answer: A) 2.250 unit. 16. Separable costs are A) Costs incurred after the split-off point. B) Costs incurred before the split-off point. C) Costs incurred by-products. D) Main product costs. Show Answer Correct Answer: A) Costs incurred after the split-off point. 17. Which company would most likely use job order costing? A) Service Company. B) Beverage Company. C) Oil Company. D) Cereal Company. Show Answer Correct Answer: A) Service Company. 18. Included in factory overhead costs are: A) Direct labor & materials costs. B) Indirect labor costs & materials. C) Production and non-production costs. D) None of above. Show Answer Correct Answer: B) Indirect labor costs & materials. 19. Product defects caused by consumers, repair fees will be charged to ..... A) Real BOPs. B) Labor costs. C) Order. D) Material cost. Show Answer Correct Answer: C) Order. 20. The formula for computing the predetermined overhead rate is an estimated manufacturing overhead costs divided by an estimated basis of activity, expressed as A) Direct labour costs. B) Direct labour hour. C) Machine hours. D) Any of the above. Show Answer Correct Answer: D) Any of the above. Next →Related QuizzesCost Accounting QuizzesJob Order Costing Quiz 2Job Order Costing Quiz 3 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books