ucil Statement. 1. Which of the following organizations could use process costin
ID: 2573543 • Letter: U
Question
ucil Statement. 1. Which of the following organizations could use process costing? a. A custom furniture builder b. A dental office that offers a wide range of services to the patients c. Contractors who build a large volume of homes each year, each with amenities selected by the future owners d. Discount Stockbrokers 2. Manufacturers producing unique or customized products would employ a(n) a. process costing system b. job-costing systenm c. homogeneous costing system d. all of the above 3. Which cost accounting proces standardized units? a. job-order costing b. process costing c. normal costing d. standard costing s would be most appropriate for accumulating costs of identical, 4·The predetermined overhead rte is usually calculated a. at the end of each month. b. at the beginning of each month. c. at the beginning of the year. d. at the end of the year. a. actual direct materials, actual direct labor, actual manufacturing overhead b. applied direct materials, applied direct labor, applied manufacturing overhead c. applied materials and labor and actual manufacturing overhead. d. actual materials and labor and applied overhead 5. A normal costing system records which costs in work in process?Explanation / Answer
Q No. 2- Job Costing (Option B)-Job costing is used for hetrogeneous products or where products are not identical.
Q No. 4 At the Begining of Each Year (option C).This Overhead rate is used to apply manufacturing overhead to product at begining of year as budget is prepared at the or before the begining of the year.
Q No 3 Process Costing (option B). It is best method where products are identical beacuse all products pass through same processes
Q no.1 Discount Stockbrockers(option D) as dthey provide homogenous services to all its clients.
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