A type of production that returns customized assets or services for each customer is called: A) Just-in-time production. B) Process manufacturing. C) Customer orientation manufacturing. D) Job lot production. E) Job order manufacturing.

You are watching: The balance in the work in process inventory at any point in time is equal to


A firm that makes which of the complying with kinds of commodities would ideal be suited for a task costing system? A) Fruit juice B) Bapoint suits C) Custom jewelry D) Snack chips E) Compact discs
Large aircraft producers such as the Boeing Company type of generally use: A) Process costing. B) Full costing. C) Job order costing. D) Mixed costing. E) Simple costing.
A job expense sheet reflects indevelopment around each of the following items except: A) The overhead expenses assigned to the job. B) The expenses incurred by the marketing department in offering the task. C) The direct products prices assigned to the job. D) The straight labor expenses assigned to the job. E) The name of the customer.
Job A3B was ordered by a customer on September 25. Throughout the month of September, Jaycee Corporation requisitioned $2,500 of direct products and also supplied $4,000 of direct labor. The job was not finished by the end of the month, yet needed an additional $3,000 of direct materials and also added straight labor of $6,500 to complete the job in October. The company uses overhead at the end of each month at a rate of 200% of the straight labor cost incurred. What is the complete cost of the job as soon as it is completed in October? A) $37,000 B) $22,500 C) $32,000 D) $16,000 E) $26,500
The balance in the Work in Process Inventory at any type of suggest in time is equal to: A) The sum of the expenses for all work in procedure however not yet completed. B) The sum of the products, labor and overhead costs passist in the time of the period. C) The price of tasks ordered however not yet started into manufacturing. D) The costs for jobs finished in the time of the duration yet not yet marketed. E) The prices of all work began in the time of the duration, completed or not.
A firm that uses a job order costing mechanism would make the following enattempt to document the circulation of direct materials right into production: A) delittle Finimelted Goods Inventory, crmodify Raw Materials Inventory. B) delittle Work in Process Inventory, crmodify Cost of Goods Sold. C) debit Work in Process Inventory, crmodify Raw Materials Inventory. D) delittle bit Work in Process Inventory, credit Factory Overhead. E) delittle Factory Overhead, credit Raw Materials Inventory.
The overhead cost used to a job throughout a period is videotaped through a crmodify to Factory Overhead and also a debit to: A) Indirect Labor. B) Cost of Goods Sold. C) Finimelted Goods Inventory. D) Jobs Overhead Expense. E) Work in Process Inventory.
At the present year-end, Simply Company type of discovered that its overhead was underapplied by $2,500, and this amount was not taken into consideration product. Based on this indevelopment, Sindicate should: A) Carry the $2,500 to the next period. B) Close the $2,500 to Cost of Goods Sold. C) Cshed the $2,500 to Finiburned Goods Inventory. D) Carry the $2,500 to the revenue statement as "Other Expense". E) Do nothing around the $2,500, because it is not material, and also it is likely that overhead will be overused by the same amount next year
The amount through which the overhead applied to tasks throughout a duration exceeds the overhead incurred during the period is recognized as: A) Predetermined overhead. B) Adjusted overhead. C) Underused overhead. D) Overapplied overhead.E) Estimated overhead.
The Marina Corp. has actually used overhead to work during the duration as follows: Jobs finiburned and also offered $ 46,000 Jobs started and also in process 54,000 Jobs finished and unmarketed 100,000 The application of overhead has actually caused a $5,600 credit balance in the Factory Overhead account, and this amount is not material. The entry to dispose of this staying factory overhead balance is: A) Delittle Factory Overhead $5,600; crmodify Cost of Goods Sold $5,600. B) Delittle bit Cost of Goods Sold $5,600; credit Factory Overhead $5,600. C) Delittle Factory Overhead $5,600; credit Work in Process Inventory $5,600. D) Delittle Work in Process Inventory $5,600; crmodify Factory Overhead $5,600. E) No enattempt is necessary.
Anattracted Industries purchased $165,000 of raw products on account during the month of March. The start Raw Materials Inventory balance was $22,000, and also the products supplied to complete tasks during the month were $141,000 of direct products and $13,000 of instraight products. What amount will certainly Andrew debit to Work in Process Inventory for the month of March? A) $141,000 B) $154,000 C) $13,000 D) $165,000 E) $33,000
Juarez Builders incurred $285,000 of labor costs for building work completed in the time of the month of August, of which $212,000 was straight and also $73,000 was indirect supervisory expenses. The correct journal entry to record the straight labor for the month is: A) Debit Payroll Expense $212,000; credit Cash $212,000. B) Delittle Factory Wages Payable $285,000; crmodify Work in Process Inventory $212,000. C) Delittle bit Work in Process Inventory $285,000; crmodify Factory Weras Payable $285,000. D) Delittle bit Work in Process Inventory $212,000; crmodify Cash $285,000. E) Delittle Work in Process Inventory $212,000; crmodify Factory Wages Payable $212,000.
Which of the complying with commodities is the majority of most likely to be developed in a procedure operations system? A) Cereal B) Designer bridal gowns C) Custom cabinetsD) Bridges E) Airplanes
Minstrel Manufacturing offers a task order costing mechanism. During one month, Minstrel purchased $198,000 of raw materials on credit; issued products to manufacturing of $195,000 of which $30,000 were indirect. Minstrel incurred a manufacturing facility payroll of $150,000, of which $40,000 was indirect labor. Minstrel supplies a predetermined overhead price of 150% of direct labor cost. The journal enattempt to record the issuance of materials to manufacturing is: A) Delittle bit Raw Materials Inventory $195,000; credit Work in Process Inventory $195,000. B) Delittle bit Finiburned Goods Inventory $195,000; crmodify Raw Materials Inventory $195,000. C) Delittle bit Raw Materials Inventory $195,000; credit Accounts Payable $195,000. D) Delittle Work in Process Inventory $195,000; crmodify Raw Materials Inventory $195,000. E) Debit Work in Process Inventory $165,000; delittle bit Factory Overhead $30,000; credit Raw Materials Inventory $195,000
E) Delittle Work in Process Inventory $165,000; debit Factory Overhead $30,000; credit Raw Materials Inventory $195,000
Yamada Company uses manufacturing facility overhead to its production departments on the basis of 90% of direct labor costs. In the Assembly Department, Yamada had actually $125,000 of direct labor price, and in the Finishing Department, Yamada had $35,000 of straight labor price. The enattempt to apply overhead to these manufacturing departments is: A) Delittle Factory Overhead—Assembly $112,500; debit Factory Overhead—Finishing $31,500; crmodify Work in Process Inventory $144,000. B) Debit Work in Process Inventory—Assembly $112,500; debit Work in Process Inventory —Finishing $31,500; credit Factory Overhead $144,000. C) Delittle Factory Overhead $144,000; crmodify Work in Process Inventory—Assembly $112,500; crmodify Work in Process—Finishing $31,500. D) Delittle Factory Payroll $144,000; credit Cash $144,000. E) Delittle Factory Overhead $144,000; crmodify Factory Payroll $144,000.
B) Delittle Work in Process Inventory—Assembly $112,500; debit Work in Process Inventory —Finishing $31,500; credit Factory Overhead $144,000.
Which of the following characteristics uses to procedure costing but not to job order cost accounting? A) Use of a solitary Work in Process Inventory account. B) Equivalent systems of production. C) Determining cost of goods made. D) Use of a preidentified overhead price. E) Identifiable devices of manufacturing.
Equivalent units of production are equal to: A) The number of devices that might have been began and completed given the prices incurred throughout the duration. B) The variety of systems still in process at the finish of a period. C) Physical devices that were began and completed during a period. D) The variety of finished systems actually produced in the time of a duration. E) The number of systems started right into the procedure throughout a period.
A) The number of units that could have been began and also completed offered the expenses incurred throughout the duration.
A manufacturing department"s output for the the majority of recent month consisted of 8,000 devices completed and also transferred to the next stage of manufacturing and 5,000 devices in ending Work in Process inventory. The units in finishing Work in Process inventory were 50% complete via respect to both straight materials and also conversion prices. Calculate the tantamount systems of production for the month, assuming the company provides the weighted average approach. A) 13,000 devices. B) 10,500 systems. C) 9,000 systems. D) 6,500 units. E) 5,500 devices.
A agency uses a procedure costing mechanism. Its Assembly Department"s beginning inventory had 30,000 devices, 75% finish through respect to direct labor and overhead. The department completed and moved out 127,500 systems this period. The finishing inventory consists of 20,000 systems that are 25% complete with respect to direct labor and also overhead. All direct materials are added at the beginning of the procedure. The department incurred direct labor expenses of $24,000 and overhead costs of $32,000 for the period. Assuming the weighted average approach, the straight labor price per identical unit (rounded to the nearest cent) is: A) $0.30. B) $0.16. C) $0.37. D) $0.18. E) $0.14.
A company"s start Work in Process inventory included 20,000 systems that were 20% finish through respect to straight labor. These start systems were completed and an additional 90,000 units were started in the time of the current duration. Of those began, 60,000 were finished and also the continuing to be 30,000 were 40% finish at the finish of the period. Using the weighted-average technique, the identical units of manufacturing through regard to direct labor were: A) 92,000. B) 76,000. C) 88,000. D) 96,000. E) 74,000
A agency supplies a procedure costing mechanism. Its Welding Department completed and transferred out 100,000 systems throughout the present duration. The ending inventory in the Welding Department consists of 30,000 systems (75% complete with respect to direct materials and also 40% complete through respect to convariation costs). Determine the identical units of production for the Welding Department for straight products and also convariation costs assuming the weighted average technique. A) 130,000 materials; 112,000 convariation. B) 122,500 materials; 112,000 conversion. C) 112,500 materials; 130,000 convariation. D) 130,000 materials; 130,000 convariation.E) 107,500 materials; 118,000 convariation.
In a process costing system, once production overhead costs are applied to the cost of production, they are debited to: A) the Cost of Goods Sold account. B) the Finished Goods Inventory account. C) the Work in Process Inventory account. D) the Manufacturing Overhead account. E) the Raw Materials Inventory account.
Andrews Corporation offers the weighted-average approach of process costing. The following indevelopment is accessible for February in its Polishing Department: Equivalent systems of production—straight materials 110,000 EUP Equivalent units of production—convariation 95,000 EUP Costs in start Work in Process—straight materials $ 49,000 Costs in beginning Work in Process—conversion $ 36,000 Costs incurred in February—direct materials $ 414,000 Costs incurred in February—convariation 520,000 The cost per identical unit of manufacturing for convariation is: A) $4.97 B) $4.21 C) $9.26 D) $5.85 E) $5.05
Williams Company computed its cost per equivalent unit for straight products to be $2.60 and also its expense per tantamount unit for conversion to be $3.75. A complete of 250,000 systems of product were completed and transferred out as finiburned products throughout the month. The ending Work in Process inventory consists of 36,000 tantamount units of direct products and also 36,000 indistinguishable systems of conversion prices. The amount that have to be reported in ending Work in Process Inventory is: A) $93,600. B) $1,816,100. C) $135,000. D) $1,587,500. E) $228,600.
A price that transforms in propercent to transforms in volume of activity is a(n): A) Fixed cost. B) Differential price. C) Increpsychological cost. D) Product price. E) Variable expense.
Following is a partial procedure cost summary for Mitchell Manufacturing"s Canning Department. Equivalent Units of Production Direct Materials Conversion Units Completed and also transferred out 50,000 50,000 Units in Ending Work in Process: Direct Materials (15,000 100%) 15,000 Convariation (15,000
80%) 12,000 Equivalent Units of Production 65,000 62,000 Cost per Equivalent Unit Costs of start work-related in process $ 40,500 $ 59,700 Costs incurred this period 136,000 183,100 Total costs $ 176,500 $ 242,800 Cost per indistinguishable unit $ 2.71 per EUP $ 3.92 per EUP The complete conversion costs moved out of the Canning Department equals: A) $242,800. B) $243,040. C) $196,000. D) $176,150. E) $183,100.
Which of the following expenses are many most likely to be classified as variable? A) Manager salaries B) Insurance C) Factory rent D) Direct products E) Straight-line depreciation
A term describing a firm"s normal selection of operating tasks is: A) High-low level of operations. B) Relevant operating analysis. C) Break-even level of operations. D) Relevant range of operations. E) Margin of safety of operations.
The margin of safety is the excess of: A) Expected sales over addressed expenses. B) Break-also sales over intended sales. C) Expected sales over break-even sales. D) Expected sales over variable prices. E) Fixed prices over supposed sales.
During its most current fiscal year, Raphael Enterprises marketed 200,000 electric screwchauffeurs at a price of $15 each. Fixed prices aplaced to $400,000 and pretaxes earnings was $600,000. What amount must have actually been reported as variable expenses in the company"s contribution margin earnings statement for the year in question? A) $2,000,000. B) $3,000,000. C) $2,400,000. D) $1,000,000. E) $1,600,000.
A company has actually solved prices of $320,000 and also a contribution margin per unit of $15. If the firm desires to earn a tarobtain $40,000 pretaxes income, how many systems need to be offered (rounded to the nearemainder totality unit)? A) 24,000. B) 2,667. C) 21,333. D) 20,000. E) 18,666.
A company has fixed prices of $270,000, a unit contribution margin of $14, and also a contribution margin ratio of 55%. If the firm wants to earn a taracquire $60,000 pretax earnings, what amount of sales have to the firm make (rounded to the nearemainder whole dollar)? A) 490,909. B) 600,000. C) 330,000. D) 109,090. E) 381,818.
Raven Company type of has a targain of earning $70,000 pre-taxes earnings. The contribution margin proportion is 30%. What amount of dollar sales should be achieved to reach the goal if resolved expenses are $36,000? A) $420,000. B) $23,333. C) $353,333. D) $300,000. E) $36,000.
Use the complying with information to determine the margin of safety and security in dollars: Unit sales 50,000 Units Dollar sales $ 500,000 Fixed prices $ 204,000 Variable expenses $ 187,500 A) $326,400. B) $88,500. C) $108,500. D) $500,000. E) $173,600.
The adhering to information is easily accessible for a company"s energy price for operating its equipments over the last 4 months. Month Machine hrs Utility expense January 900 $ 5,450 February 1,800 $ 6,900 March 2,400 $ 8,100 April 600 $ 3,600 Using the high-low technique, the estimated variable expense per unit for utilities is: A) $3.38. B) $6.17. C) $2.50. D) $4.22. E) $6.00.
The complying with information is accessible for a company"s utility price for operating its machines over the last 4 months. Month Machine hours Utility price January 900 $ 5,450 February 1,800 $ 6,900 March 2,400 $ 8,100 April 600 $ 3,600 Using the high-low method, the approximated complete solved expense for utilities is: A) $6,000. B) $2,100. C) $3,600. D) $3,300. E) $1,500.
A company"s product sells at $12 per unit and has a $5 per unit variable expense. The company"s complete resolved prices are $98,000. The contribution margin per unit is: A) $12.00. B) $17.00. C) $5.00. D) $8.17. E) $7.00.
A company"s product sells at $12 per unit and has actually a $5 per unit variable expense. The company"s total addressed expenses are $98,000. The break-also suggest in systems is: A) 7,000. B) 8,167. C) 14,000. D) 19,600. E) 5,158.

See more: What Artist Is Depicted In The Image Above? ? Art History: The Movement Ii: People Flashcards


A company manufactures and sells a product for $120 per unit. The company"s fixed costs are $68,760, and its variable expenses are $90 per unit. The company"s break-also allude in dollars is: A) $68,760. B) $206,280. C) $2,292. D) $91,680. E) $275,040.
})}else;home window.place.assign("https://steustatiushistory.org/explanations/textbook-solutions/glencoe-accounting-first-year-course-1st-edition-9780078688294");">
*

})}else;window.location.assign("https://steustatiushistory.org/explanations/textbook-solutions/financial-accounting-4th-edition-9781259730948");">

})}else;window.place.assign("https://steustatiushistory.org/explanations/textbook-solutions/horngrens-cost-accounting-16th-edition-9780134475981");">
})}else;window.place.assign("https://steustatiushistory.org/explanations/textbook-solutions/financial-accounting-5th-edition-9781259914898");">
*

Financial Accountingfifth EditionDavid Spiceland
1,053 explanations
Other sets by this creator
window.steustatiushistory.org<"productClickLinkData"> = <"name":"Marketing 4440 exam 2","id":"580746037","price":"","category":"premium content","variant":"study guide","position":"","brand":"myra_leblanc4">; QLoad("steustatiushistory.org.productClickLinkData"); return;})}elsewindow.steustatiushistory.org<"productClickLinkData"> = <"name":"Marketing 4440 exam 2","id":"580746037","price":"","category":"premium content","variant":"research guide","position":"","brand":"myra_leblanc4">; QLoad("steustatiushistory.org.productClickLinkData"); return;;window.area.assign("https://steustatiushistory.org/580746037/marketing-4440-exam-2-flash-cards/");" id="1-580746037">
Marketing 4440 exam 2
55 terms
myra_leblanc4PLUS
home window.steustatiushistory.org<"productClickLinkData"> = <"name":"Marketing 3900 exam 2","id":"574213760","price":"","category":"premium content","variant":"research guide","position":"","brand":"myra_leblanc4">; QLoad("steustatiushistory.org.productClickLinkData"); return;})}elsehome window.steustatiushistory.org<"productClickLinkData"> = <"name":"Marketing 3900 exam 2","id":"574213760","price":"","category":"premium content","variant":"study guide","position":"","brand":"myra_leblanc4">; QLoad("steustatiushistory.org.productClickLinkData"); return;;home window.place.assign("https://steustatiushistory.org/574213760/marketing-3900-exam-2-flash-cards/");" id="1-574213760">
Marketing 3900 exam 2
98 terms
myra_leblanc4PLUS
window.steustatiushistory.org<"productClickLinkData"> = <"name":"Marketing 4440","id":"569751686","price":"","category":"premium content","variant":"examine guide","position":"","brand":"myra_leblanc4">; QLoad("steustatiushistory.org.productClickLinkData"); return;})}elsewindow.steustatiushistory.org<"productClickLinkData"> = <"name":"Marketing 4440","id":"569751686","price":"","category":"premium content","variant":"research guide","position":"","brand":"myra_leblanc4">; QLoad("steustatiushistory.org.productClickLinkData"); return;;window.location.assign("https://steustatiushistory.org/569751686/marketing-4440-flash-cards/");" id="1-569751686">
Marketing 4440
90 terms
myra_leblanc4PLUS
window.steustatiushistory.org<"productClickLinkData"> = <"name":"Marketing 3900","id":"566757427","price":"","category":"premium content","variant":"examine guide","position":"","brand":"myra_leblanc4">; QLoad("steustatiushistory.org.productClickLinkData"); return;})}elsehome window.steustatiushistory.org<"productClickLinkData"> = <"name":"Marketing 3900","id":"566757427","price":"","category":"premium content","variant":"research guide","position":"","brand":"myra_leblanc4">; QLoad("steustatiushistory.org.productClickLinkData"); return;;home window.area.assign("https://steustatiushistory.org/566757427/marketing-3900-flash-cards/");" id="1-566757427">