All questions have to do with cost accounting systems, more in particular, job o
ID: 2419742 • 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
17. The subsidiary ledger that contains cost data for the units manufactured, units sold, and units on hand is 17. ____
18. The direct labor and overhead costs of a service business are accumulated in a 18. ____
19. If the actual factory overhead costs exceed the amount of factory overhead applied, the factory overhead account balance will be a (debit or credit) 19. ____
20. The factory overhead in Question 19 is said to be 20. ____
21. The source of the data for debiting Work in Process for direct materials is a 21. ____
22. The accounting document that is used to accumulate the costs for each client’s job in a service business is a 22. ____
23. The controlling account for the cost ledger is 23. ____
24. The measure used to allocate overhead that reflects its consumption is called 24. ____
Explanation / Answer
17)Finished goods account .
18)work in process account
19)Debit balance
20)Underapplied overhead
21)Material requisition
22)Job order cost sheet
23)work in process account
24)Activity base /driver