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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
1. Which of the following is not true about why a service firm will use the job order costing system?
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A. to help control cost B. to determine client billing C. to determine department cost with the firm D. to determine profit
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2. Job order costing and process are
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A. pricing systems B. cost accountin systems C. cost flow systems D. inventory tracking systems
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3. Which of the following would most likely use a job order costing system?
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A. paper mill B. swimming pool installer C. company that manufactures chlorine for swimming pools D. oil refinery
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4. Which of the following would probly not be found in the accountin system of a service provider?
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A. cost ledger B. Finished jobs ledger C. deferred revenue account D. job cost sheets
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5. During the period, labor cost incurred on account amounted to $250,000 including $200,000 for production order and $50,000 for general factory use. In addition, factory overhead applied to production was $23,000. From the following, select the entry to record the actual factory overhead cost incurred.
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A. Accounts Payable $50,000 and Cr. Factory Overhead $50,000 B. Factory Overhead 23,000 and Cr. Accounts Payable $23,000
c. Work in Process $50,000 Cr. Wages Payable $50,000 D. Factory Overhead $50,000 Cr. Wages Payable $50,000
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