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If the amount of "Cost of goods manufactured" during...

If the amount of "Cost of goods manufactured" during...

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If the amount of "Cost of goods manufactured" during a period exceeds the amount of "Total manufacturing costs" for the period, then

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Question 1 of 20
 
If the amount of "Cost of goods manufactured" during a period exceeds the amount of "Total manufacturing costs" for the period, then
 A. Ending work in process inventory is greater than or equal to the amount of the beginning work in process inventory.   
 B. Ending work in process is greater than the amount of the beginning work in process inventory.      
 C. Ending work in process is equal to the cost of goods manufactured.       
 D. Ending work in process is less than the amount of the beginning work in process inventory.
 
Question 2 of 20
5.0 Points
Which of the following would be accounted for using a job order cost system?
 A. The production of personal computers.         
 B. The production of automobiles.          
 C. The refining of petroleum.       
 D. The construction of a new campus building.
 
Question 3 of 20
5.0 Points
All of the following would be entries in assigning accumulated costs to the Work In Process Inventory except:
 A. The purchase of raw materials.           
 B. Raw materials are used.
 C. Overhead is applied.     
 D. Factory labor is used.
 
Question 4 of 20
5.0 Points
Process costing is used when
 A. The production process is continuous
 B. Production is aimed at filling a specific customer order     
 C. Dissimilar products are involved        
 D. Costs are to be assigned to specific jobs.
 
Question 5 of 20
5.0 Points
Process costing is not used when
 A. Similar goods are being produced      
 B. Large volumes are produced   
 C.jobs have distinguishing characteristics         
 D. A series of connected manufacturing processes is necessary.


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