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US CMA Part 1 Job Order Costing — practice questions

Explore 11 free Job Order Costing questions in US CMA Part 1 Management Accounting. Open each question or exercise to read its content, reference answers and available explanation.

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Job Order Costing questions and exercises with answers

Showing questions 1–11 of 11.

Direct or indirect factory cost?Read the answer and worked solution →Build the predetermined overhead rateRead the answer and worked solution →Tap the wrong accountRead the answer and worked solution →Tap the cost that does not belongRead the answer and worked solution →True or false: applied overheadRead the answer and worked solution →Job order costing accumulates costs for which kind of production?Read the answer and worked solution →Which three costs are debited to Work in Process under job order costing?Read the answer and worked solution →How is a predetermined factory overhead rate calculated?Read the answer and worked solution →Applied factory overhead was $2,100 and actual factory overhead turns out to be $2,050. What happens to Cost of Goods Sold?Read the answer and worked solution →Which account is never used when estimated factory overhead is adjusted to the actual amount?Read the answer and worked solution →What changes when job order costing is applied to a service business such as a law or accounting practice?Read the answer and worked solution →

Worked practice questions

Direct or indirect factory cost?

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Left
Direct cost
Items
  1. Item
    Job materials
    Answer
    Direct cost
  2. Item
    Plant utility bill
    Answer
    Indirect cost
  3. Item
    Wood for a closet
    Answer
    Indirect cost
  4. Item
    Job assembly wages
    Answer
    Direct cost
  5. Item
    Supervisor salary
    Answer
    Indirect cost
  6. Item
    Wood for a cabinet
    Answer
    Direct cost
  7. Item
    Plant leak repair
    Answer
    Indirect cost
  8. Item
    Closet build wages
    Answer
    Indirect cost
Right
Indirect cost
Instructions
Swipe left for a direct cost, right for an indirect one.
_Source: Jonick, Principles of Managerial Accounting, section 2.1 Introduction_

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Build the predetermined overhead rate

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Missing parts
  1. Answer
    27,000
    Choices
    1. 2,700
    2. 9,400
    3. 27,000
  2. Answer
    900
    Choices
    1. 900
    2. 700
    3. 70
  3. Answer
    30
    Choices
    1. 3
    2. 30
    3. 300
Complete the statement
Estimated factory overhead of ${0} divided by {1} machine hours sets a predetermined rate of ${2} per machine hour.
Instructions
Tap the number that fills each gap in the rate.
_Source: Jonick, Principles of Managerial Accounting, section 2.1 Introduction_

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Tap the wrong account

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Questions
  1. Statement parts
    1. Direct
    2. materials
    3. used
    4. on
    5. a
    6. job
    7. are
    8. debited
    9. to
    10. Factory Overhead
    Correction
    Work in Process
    Incorrect part
    Factory Overhead
  2. Statement parts
    1. Indirect
    2. labor
    3. in
    4. the
    5. factory
    6. is
    7. debited
    8. to
    9. Work in Process
    Correction
    Factory Overhead
    Incorrect part
    Work in Process
  3. Statement parts
    1. Under
    2. applied
    3. overhead
    4. is
    5. fixed
    6. by
    7. debiting
    8. Work in Process
    Correction
    Cost of Goods Sold
    Incorrect part
    Work in Process
  4. Statement parts
    1. Finished
    2. jobs
    3. move
    4. from
    5. Work in Process
    6. to
    7. Materials
    Correction
    Finished Goods
    Incorrect part
    Materials
Instructions
Each line names one wrong account. Tap it.
_Source: Jonick, Principles of Managerial Accounting, section 2.2 Comprehensive Example of Job Order Costing Transactions for a Manufacturing Company_

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