This quiz works best with JavaScript enabled. Home > Cost Accounting > Job Order Costing > Job Order Costing – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Job Order Costing Quiz 2 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following would be suitable for using a job-order cost system? A) The production of personal computers. B) The production of automobiles. C) The refining of petroleum. D) The construction of a new campus building. Show Answer Correct Answer: D) The construction of a new campus building. 2. In a job order cost system, overhead applied is debited to which account? A) Work in process inventory. B) Cost of goods sold. C) Manufacturing overhead. D) Finished goods inventory. Show Answer Correct Answer: A) Work in process inventory. 3. In a job order cost system, indirect labor incurred is debited to which account? A) Cost of goods sold. B) Manufacturing overhead. C) Finished goods inventory. D) Work in process inventory. Show Answer Correct Answer: B) Manufacturing overhead. 4. For conversion cost, the equivalent units of production are A) 1700. B) 1580. C) 1500. D) 1550. Show Answer Correct Answer: B) 1580. 5. The point at which two or more products appear in a separately identifiable form is known as: A) Joint point. B) Change point. C) Split-off point. D) Break-even point. Show Answer Correct Answer: C) Split-off point. 6. At which stage of the manufacturing process would direct labour costs be applied? A) Raw materials. B) Work in Process. C) Finished goods. D) Costs of goods sold. Show Answer Correct Answer: B) Work in Process. 7. What are equivalent units? A) Partially completed unit to be sold as is. B) Partially finished unit replacement. C) Various types of units with the same selling price. D) Partially completed units are expressed in terms of fully completed units. Show Answer Correct Answer: D) Partially completed units are expressed in terms of fully completed units. 8. A debit to Finished Goods Inventory account represent the ..... ? A) Cost of goods sold. B) Cost of completed jobs. C) Over-applied factory overhead. D) Under-applied factory overhead. Show Answer Correct Answer: B) Cost of completed jobs. 9. Where are you unlikely to see job-order costing being used? A) In a garage. B) In a boutique. C) In a chemical plant. D) In a construction. Show Answer Correct Answer: C) In a chemical plant. 10. Total factory overhead costs for custom product orders A) Rp 62.500.000. B) Rp 73.000.000. C) Rp 67.500.000. D) Rp 66. 825.000. Show Answer Correct Answer: D) Rp 66. 825.000. 11. Information that does not have to be on the Job Cost Sheet A) Order identity. B) Raw material data used. C) Data on labor and applied overhead. D) All answers are wrong. Show Answer Correct Answer: D) All answers are wrong. 12. The source documents that production managers use to request materials for production and which are used to assign the cost of materials to specific jobs or to overhead are: A) Job Cost Sheet. B) Production Order. C) Materials Requisition. D) Materials Purchase Order. Show Answer Correct Answer: C) Materials Requisition. 13. Which company is likely to use a job-order costing system? A) Paper manufacturer. B) Soft drink bottler. C) Housing contractor. D) Petroleum processor. Show Answer Correct Answer: C) Housing contractor. 14. Charging factory overhead that is too low than it actually is called A) Undercontrolled. B) Overcontrolled. C) Underapplied. D) Overapplied. Show Answer Correct Answer: C) Underapplied. 15. Material requirement A for a standard product order is A) 750 unit. B) 1.500 unit. C) 1.000 unit. D) 2.250 unit. Show Answer Correct Answer: B) 1.500 unit. 16. The cost per equivalent unit for direct materials is A) RM2.00. B) RM4.00. C) RM8.00. D) RM14.00. Show Answer Correct Answer: A) RM2.00. 17. Which is true of process costing? A) Overhead is assigned only to the last process. B) Costs are accumulated in each production department. C) It tracks and assigns both period and product costs. D) It uses only one Work-in-Process Inventory account. Show Answer Correct Answer: B) Costs are accumulated in each production department. 18. Total production costs for custom products A) Rp 245.500.000. B) Rp 178.200.000. C) Rp 255.500.000. D) Rp 172.800.000. Show Answer Correct Answer: B) Rp 178.200.000. 19. Name the two basic types of cost accounting systems. A) Job order costing & perpetual costing. B) Job-order costing & process costing. C) Job order costing & periodic costing. D) None of above. Show Answer Correct Answer: B) Job-order costing & process costing. 20. Karakter job order costing A) Accumulated costs based on orders. B) The calculation of the cost per unit is done by dividing the total cost of each order by the number of units produced for that order. C) Products vary greatly. D) All answers are correct. Show Answer Correct Answer: D) All answers are correct. ← PreviousNext →Related QuizzesCost Accounting QuizzesJob Order Costing Quiz 1Job Order Costing Quiz 3 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books