For each of the following products or services, indicate if the cost would most likely be determined using a job order costing system or a process costing system.a. Soft drinksb. Automobile repairsc. Customized furnitured. Aluminum foile. Lawn chairsf. Chocolate candy barsg. Hospital surgeryh. Pencils Show
Job Order Cost Systems MULTIPLE CHOICE Which of the following are the two main types of cost accounting systems for manufacturing operations? a. Process cost and general accounting systems b. Job order cost and process cost systems c. Job order and general accounting systems d. Process cost and replacement cost systems ANS: B DIF: Easy OBJ: 19-01 NAT: AACSB Analytic | IMA-Cost Management 2. Which of the following would most likely use a job order costing system? a. A paper mill b. A swimming pool installer c. A company that manufactures chlorine for swimming pools d. An oil refinery ANS: B DIF: Easy OBJ: 19-01 NAT: AACSB Analytic | IMA-Cost Management 3. Which of the following would be most likely to use process costing? a. A custom furniture manufacturer. b. An auto body repair shop. c. A law firm d. A lawn fertilizer manufacturer. ANS: D DIF: Easy OBJ: 19-01 NAT: AACSB Analytic | IMA-Cost Management 4. Which of the following systems provides for a separate record of the cost of each particular quantity of product that passes through the factory? a. Job order cost system b. General cost system c. Replacement cost system d. Process cost system ANS: A DIF: Easy OBJ: 19-01 NAT: AACSB Analytic | IMA-Cost Management 5. For which of the following businesses would the job order cost system be appropriate? a. Meat processor b. Automobile manufacturer c. Oil refinery d. Construction contractor ANS: D DIF: Difficult OBJ: 19-01 This preview shows page 2 - 4 out of 14 pages. 54. Which of the following would most likely use a job order costing system? 55. Which of the following would be most likely to use process costing? 56. Which of the following systems provides for a separate record of the cost of each particular quantity of product that passes through the factory? 57. For which of the following businesses would the job order cost system be appropriate? 58. For which of the following businesses would the process cost system be appropriate? 59. Which of the following is nota characteristic of a job order costing system? 60. Which of the following products probably would be manufactured using a job order costing system? 61. Job order costing and process costing are 62. Which of the following is not true about why a service firm will use the job order costing system? 63. Which of the following costs are NOT included in finished goods inventory? 64. Which of the following is the correct flow of manufacturing costs? 65. Which of the following would record the labor costs to an individual job? Upload your study docs or become a Course Hero member to access this document Upload your study docs or become a Course Hero member to access this document End of preview. Want to read all 14 pages? Upload your study docs or become a Course Hero member to access this document Which type of business would most likely to use a job order costing system?Since lawyers and accountants work with different clients on unique accounts, many will use a job order costing system to track how much time and resources were used for each customer.
Which of the following products would most likely use a job order costing accounting system?The answer is C - Ice cream
Job order costing systems are best used when each order is different in nature and products are heterogeneous.
Which type of business would be most likely to use a job order costing system quizlet?Job order costing is used by companies that will produce a "made-to-order" product or small batches of a particular product. Which of the following would be debited (increased) to assign direct labor costs actually incurred? The Work-in-Process Inventory would be debited to assign direct labor costs actually incurred.
Which of the following are the two main types of cost accounting systems for manufacturing operations quizlet?The two main types of cost accounting systems for manufacturing operations are job order cost and process cost systems. Each system differs in how it accumulates and records cost.
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Which of the following products probably would be manufactured using a job order costing system
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