All questions have to do with cost accounting systems, more in particular, job o
ID: 2419741 • Letter: A
Question
All questions have to do with cost accounting systems, more in particular, job order costing.
Complete each of the following statements/Answer the following questions
9. The Receiving Department document that shows the quantity received and its condition is the 9. ____
10. Materials are released from the storeroom to the factory in response to a 10. ____
11. The amount of time spent by an employee in the factory is usually recorded on 11. ____
12. Indirect materials and indirect labor are examples of this manufacturing cost 12. ____
13. The costing method that accumulates and allocates factory overhead costs to products using many overhead rates is 13. ____
14. If estimated total factory overhead costs are $75,000 and direct labor hours are 15,000, the predetermined factory overhead rate is 14. ____
15. The process of assigning factory overhead costs to a cost object is termed 15. ____
16. In highly-automated factory settings, a widely used activity base for predetermining a factory overhead rate is 16. ____
Explanation / Answer
9. Receiving report
10. Materials requisition
11.Time tickets
12. Factory overhead cost
13. Activity based costing
14. $ 5 per direct labor hour
15. Cost allocation
16. Machine hours