Posted: September 16th, 2017

ACC561 ACC/561 Week 3 Quiz

Question 1

A major purpose of cost accounting is to

Question 2

The two basic types of cost accounting systems are

Question 3

A process cost system would most likely be used by a company that makes

Question 4

Which of the following would be accounted for using a job order cost system?

Question 5

The flow of costs in a job order cost system

Question 6

The entry to record the acquisition of raw materials on account is

Question 7

Time tickets should be approved by

Question 8

The labor costs that have been identified as indirect labor should be charged to

Question 9

Manufacturing overhead is applied to each job

Question 10

A process cost accounting system is most appropriate when

Question 11

Which of these best reflects a distinguishing factor between a job order cost system and a process cost system?
Question 12

In process cost accounting, manufacturing costs are summarized on a
Question 13

In a process cost system, product costs are summarized:

Question 14

Which of the following is considered a difference between a job order cost and a process cost system?

Question 15

The costs that are easiest to trace directly to products are

Question 16

Often the most difficult part of computing accurate unit costs is determining the proper amount of _________ to assign to each product, service, or job

Question 17

The last step in activity-based costing is to
Question 18

The first step in activity-based costing is to
Question 19

A well-designed activity-based costing system starts with

Question 20

An example of an activity cost pool is

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