US CMA Part 1 Job Order Costing — practice questions
25 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice US CMA Part 1 Job Order Costing in the app →Job order costing accumulates costs for which kind of production?Which three costs are debited to Work in Process under job order costing?A single job absorbs $5,000 of materials, $4,000 of labor and $1,100 of applied overhead. What balance does WoDirect materials costing $5,000 are requisitioned from the stockroom for a job. Which entry records this?Why is a factory utility bill debited to Factory Overhead rather than to Utilities Expense?Factory Overhead is debited for indirect materials $400, indirect labor $300, utilities $350, maintenance $200Which three activity bases are commonly used to allocate factory overhead to jobs?Estimated factory overhead is $2,000 and the activity base is an estimated 200 direct labor hours. If 110 direHow is a predetermined factory overhead rate calculated?Six jobs use materials of $880, $1,240, $670, $2,300, $1,560 and $910, and a further $270 of materials goes toEstimated factory overhead for the year is $27,000 and estimated machine hours are 900. Six jobs use 6, 10, 8,Job 4 carries materials of $2,300, factory labor of $1,860 and 25 machine hours applied at $30 per machine houJobs 1, 2, 3 and 5 are completed at costs of $1,810, $2,530, $1,420 and $3,470. Which entry records their compJobs 2 and 5 cost $2,530 and $3,470 to make and are sold on account for $4,100 and $5,200. What amount is debiApplied factory overhead was $2,100 and actual factory overhead turns out to be $2,150. Which entry reconcilesApplied factory overhead was $2,100 and actual factory overhead turns out to be $2,050. What happens to Cost oWhich account is never used when estimated factory overhead is adjusted to the actual amount?Jobs 1, 2, 3 and 5 were completed at $1,810, $2,530, $1,420 and $3,470, and Jobs 2 and 5 were sold. What cost A month ends with materials of $1,840, work in process of $6,760 and finished goods of $3,230. What total inveRaw materials build a closet in the factory for $200, shelving in the sales offices for $150 and braces in theA building repair invoice totals $200. Half is a factory expense, $60 is a selling expense and $40 is an adminWhat changes when job order costing is applied to a service business such as a law or accounting practice?An agency charges designer time at $140 per hour and applies overhead at 35% of direct labor cost. Job 4 uses Job 4 carries $2,800 of direct labor, $520 of directly related costs and $980 of applied overhead, and the ageAn agency applied $980 of overhead to a project and actual overhead is later fixed at $960. Which account is c