ACCT 2301 EXAM 2 TEST BANK 2023

Which of the following is not a characteristic of job-order costing? a. Wide variety of distinct products. b. Unit cost is computed by dividing process costs of the period by the units produced in the period. c. Unit cost is computed by dividing total job costs by units produced on that job. d. Costs accumulated by job. e. Typically, the cost of one job is different from that of another job. - b. Unit cost is computed by dividing process costs of the period by the units produced in the period. Firms in the ____ business are most likely to use a process-costing system. a. printing b. dental c. construction d. petroleum e. automobile repair - d. petroleum Which of the following is the assignment process used with normal costing? a. Actual direct materials, actual direct labor and actual overhead cost are assigned to products. b. Actual direct materials cost is assigned to products, but direct labor and overhead costs are assigned using predetermined rates. c. Actual direct labor cost is assigned to products, but direct material and overhead costs are assigned using predetermined rates. d. Actual direct material and direct labor costs are assigned to products, but overhead costs are assigned using predetermined rates. e. All manufacturing costs are assigned using predetermined rates. - d. Actual direct material and direct labor costs are assigned to products, but overhead costs are assigned using predetermined rates. the predertemined overhead rate is usually calculated a. at the beginning of each job b. at the end of each month c. at the beginning of each month d. at the end of the year e. at the beginning of the year - e. at the beginning of the year Which type of cost poses the most problems in using an actual cost system? a. direct materials b. overhead