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CH APTER 2
Job-Order Costing for Manufacturing and Service Companies
Summary of Questions by Objectives and Bloom’s Taxonomy
Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT
True-False Statements
1. 1 K 7. 2 K 13. 3 C 19. 4 K 25. 5 C
2. 1 K 8. 2 K 14. 3 C 20. 4 K 26. 6 K
3. 1 K 9. 2,5 K 15. 2 K 21. 4 K 27. 6 K
4. 1 K 10. 2 K 16. 2,3 K 22. 5 K 28. 7 K
5. 1 K 11. 2 K 17. 4 K 23. 5 C 29. 7 K
6. 1 K 12. 3 K 18. 4 K 24. 5 C
Multiple Choice Questions
30. 1 K 55. 2,3 AP 80. 4 AP 105. 4,5 AP 130. 5 AP
31. 1 K 56. 2,3 AP 81. 5,6 AP 106. 4,5 AP 131. 5 AP
32. 1 C 57. 2,3 AP 82. 4,6 AP 107. 4,5 AP 132. 5 AP
33. 1 C 58. 2,3 AP 83. 5 AP 108. 4 AP 133. 5 AP
34. 1 C 59. 2,3 AP 84. 4 K 109. 4,5 AP 134. 5 AP
35. 1 C 60. 2,3 AP 85. 2,4 K 110. 4 AP 135. 5 AP
36. 1 C 61. 2,3 AP 86. 4 K 111. 5 AP 136. 5 AP
37. 1 K 62. 2,3 AP 87. 4 C 112. 4 AP 137. 5 AP
38. 1 C 63. 2,3 AP 88. 4,5 K 113. 4 AP 138. 5 AP
39. 1 C 64. 2,3 AP 89. 4,5 K 114. 5 AP 139. 5 AP
40. 2 K 65. 3 C 90. 2,4 K 115. 5 C 140. 5 AP
41. 2 K 66. 3 C 91. 4 K 116. 5 C 141. 5 AP
42. 2 K 67. 3 K 92. 5 K 117. 5 AP 142. 5 AP
43. 2 C 68. 2 K 93. 4,5 AP 118. 5 AP 143. 6 K
44. 2 K 69. 4 K 94. 5 K 119. 5 K 144. 7 K
45. 2 AP 70. 2 AP 95. 5 K 120. 5 C 145. 7 C
46. 2 AP 71. 2 AP 96. 4,5 K 121. 5 C 146. 7 K
47. 2,5 AP 72. 2 AP 97. 4,5 K 122. 5 C 147. 7 K
48. 2,3 AP 73. 4 AP 98. 4,5 K 123. 5 AP 148. 7 K
49. 2,3 AP 74. 2,4,6 AP 99. 4,5 AP 124. 5 AP 149. 7 K
50. 2,3 AP 75. 5 AP 100. 4,5 AP 125. 5 AP 150. 7 C
51. 2,3 AP 76. 2 AP 101. 5 AP 126. 5 AP
52. 2,3 AP 77. 4 AP 102. 5 AP 127. 5 AP
53. 2,3 AP 78. 4 AP 103. 4,5 AP 128. 5 AP
54. 2,3 AP 79. 4 AP 104. 4,5 AP 129. 5 AP
Matching
151. 1-7 K
Exercises
152. 1,2 AP 155. 4 AP 158. 4,5 AP 161. 4,5 AP 164. 5 AP
153. 1,2 AP 156. 4 AP 159. 5 AP 162. 4,5 AP 165. 5 AP
154. 3 K 157. 4 AP 160. 4,5,6 AP 163. 5 AP 166. 5,6 AP
Challenge Exercises
167. 1,2 AP 168. 1,5 AP 169. 4,5,6 AP
Short-Answer Essays
170. 1 C 172. 1 K 174. 5 C 176. 7 C 178. 5 C
171. 1 K 173. 3 K 175. 4 C 177. 7 C
TRUE-FALSE STATEMENTS
1. All costs other than direct materials, direct labor, indirect materials, and indirect labor are
classified as period costs.
2. The wages of a factory machine maintenance worker are classified as direct labor.
5. Period costs are identified with accounting periods rather than with goods produced.
6. Rent of the office building for the sales staff is a period cost.
7. Raw Materials Inventory, Work in Process Inventory, and Cost of Goods Sold will appear on a
company’s balance sheet.
10. Indirect labor is added directly to the Work in Process account in a job-order costing system.
12. Process costing systems are generally used by companies that produce large quantities of
identical items.
13. A company that builds custom homes would likely use a process costing system.
14. A company that designs advertising campaigns for other companies would likely use job-order
costing.
15. In a job-order costing system, the Finished Goods account includes the cost of all jobs
completed and sold during an accounting period.
16. In a job-order costing system, the Cost of Goods Sold account consists of costs transferred
out of the Finished Goods account.
17. A job cost sheet is a form used to accumulate costs of a particular job in a job-order costing
system.
18. When overhead is applied to jobs, Manufacturing Overhead is debited and Work in Process is
credited.
19. In a job-order costing system, the Cost of Goods Manufactured account is increased and the
Finished Goods account is decreased when a job is completed.
20. In a job-order costing system, Work in Process is debited and Finished Goods is credited
when a job is sold.
Chapter 2 Job-Order Costing for Manufacturing and Service Companies 2-3
21. Increases in overhead costs should be driven by increases in the overhead allocation base.
22. Underapplied overhead occurs when actual overhead is greater than the amount of overhead
applied to jobs.
23. If the amount of over- or under-applied overhead is material, the amount should be closed to
Work in Process.
24. If the amount of overapplied overhead is not material, the amount should be closed to Cost of
Goods Sold.
25. If overhead is underapplied, closing it to Cost of Goods Sold will increase income.
26. Job-order costing is often used by service companies, such as lawyers who need to
determine the cost of lawsuit or consultants who need to determine the cost of an
engagement.
27. Because H&R Block provides no materials when it completes a tax return for a client, it does
not assign overhead costs to each tax return client.
28. The use of computer-controlled manufacturing systems has had a significant effect on the
composition of product costs.
Answers to True-False
1 F 7 F 13 F 19 F 25 F
2 F 8 F 14 T 20 F 26 T
3 T 9 T 15 F 21 T 27 F
4 F 10 F 16 T 22 T 28 T
5 T 11 T 17 T 23 F 29 T
6 T 12 T 18 F 24 T
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