DOWNLOAD THE Test Bank for Managerial Accounting 5th Edition Wild
m m m m m m m m m
Chapter 02 Jo m m
b Order Costing and Analysis
m m m m
Truem/mFalsemQuestions
1. Costmaccounting msystemsmaccumulate mcostsmand mthenmassignsmthemmto mproductsmor mservices.
True False
2. A mcompanymthatmusesmamcostmaccounting msystemmnormallymhasmonlymtwo minventorymaccounts:mFini
shed mGoodsmInventorymand mWorkminmProcessmInventory.
True False
3. Costmaccounting minformationmismhelpfulmto mmanagementmfor mpricing mdecisionsmbutmhasmno meffec
tmonmcontrolling mcosts.
True False
4. Theremaremtwo mbasicmtypesmofmcostmaccounting msystems:mjob morder mcosting mand mperiodicmcosting.
True False
5. A mcompanymthatmproducesmamlargemnumber mofmstandardized munitsmwould mnormallymusemamjob m
order mcosting msystem.
True False
02-1
Copyrightm©m2016 mMcGraw-
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m m m m m m m m m
6. Job morder mproductionmsystemsmwould mbemappropriate mfor mcompaniesmthatmproducemcustommho
mes,mspecialized mequipment,mand mspecialmcomputer msystems.
True False
7. Job morder mproductionmsystemsmwould mbemappropriate mfor mcompaniesmthatmproducemcompactmdisk
smor mdisposable mcameras.
True False
8. A mjob morder mcosting msystemmwould mbemappropriatemfor mammanufacturer mofmautomobilemtires.
True False
9. Job morder mproductionmsystemsmwould mbemappropriate mfor mcompaniesmthatmproducemtraining mfilm
smfor mamspecificmcustomer mor mcustom-mademfurnituremto mbemused minmamnewmfive-
star mresortmhotel.
True False
10. A mcompany'smfilemofmjob mcostmsheetsmjobsmnotmyetmcompleted mequalsmthembalanceminmthemFin
ished mGoodsmInventorymaccount.
True False
11. Themdirectmmaterialsmsectionmofmamjob mcostmsheetmshowsmthemmaterialsmcostsmassigned mto mamjob,mb
utmthemdirectmlabor msectionmonlymshowsmthemtotalmhoursmofmlabor mallocated mto mthemjob.
True False
02-2
Copyrightm©m2016 mMcGraw-
HillmEducation. mAllmrights mreserved. mNo mreproduction mor mdistribution mwithoutmthemprior mwritten mconsentmof m McGraw-
HillmEducation.
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m m m m m m m m m
12. Themcollectionmofmcostmsheetsmfor munfinished mjobsmmakesmup mamsubsidiarymledger mcontrolled mb
ymthemWorkminmProcessmInventorymaccountminmthemgeneralmledger.
True False
13. A mjob mcostmsheetmismusefulmfor mdeveloping mfinancialmaccounting mnumbersmbutmdoesmnotmco
ntainminformationmthatmismusefulmfor mmanaging mthemproductionmprocess.
True False
14. Job mcostmsheetsmaremused mto mtrackmallmofmthemcostsmassigned mto mamjob,mincluding mdirectmmaterials,m
directmlabor,moverhead,mand mallmselling mand madministrativemcosts.
True False
15. Whenmamjob mismfinished,mitsmjob mcostmsheetmismcompleted mand mmoved mfrommthemfilemofmjobsminmp
rocessmtomthemfilemofmfinished mjobsmthatmaremyetmto mbemdelivered mto mcustomers.
True False
16. Themfilemofmjob mcostmsheetsmfor mcompleted mbutmundelivered mjobsmequalsmthembalanceminmthemW
orkminmProcessmInventorymaccount.
True False
17. Bothmdirectmand mindirectmlabor mcostsmaremrecorded monmthemindividualmjob mcostmsheets.
True False
02-3
Copyrightm©m2016 mMcGraw-
HillmEducation. mAllmrights mreserved. mNo mreproduction mor mdistribution mwithoutmthemprior mwritten mconsentmof m McGraw-
HillmEducation.
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m m m m m m m m m
18. Servicemfirms,munlikemmanufacturing mfirms,mshould monlymusemactualmcostsmwhenmdetermining mamse
lling mpricemfor mtheir mservices.
True False
19. Job morder mcosting mismapplicablemto mmanufacturing mfirmsmonlymand mnotmservicemfirms.
True False
20. Themcostmofmallmdirectmmaterialsmissued mto mproductionmismdebited mto mWorkminmProcessmInventory.
True False
21. A mmaterialsmrequisitionmismamsourcemdocumentmused mbymproductionmmanagersmto mrequestmmaterial
smfor mproductionmand malso mused mto massignmmaterialsmcostsmto mspecificmjobsmor mto moverhead.
True False
22. Whenmmaterialsmaremused masmindirectmmaterials,mtheir mcostmismdebited mto mthemFactorymOver
head maccount.
True False
23. A mmaterialsmrequisitionmismamsourcemdocumentmused mbymmaterialsmmanagersmofmammanufacturing
m companymto morder mrawmmaterialsmfrommsuppliers;mitmservesmthemsamempurposemasmampurchasemor
der minmammerchandising mcompany.
True False
24. Materialsmrequisitionsmand mtimemticketsmaremcostmaccounting msourcemdocuments.
True False
02-4
Copyrightm©m2016 mMcGraw-
HillmEducation. mAllmrights mreserved. mNo mreproduction mor mdistribution mwithoutmthemprior mwritten mconsentmof m McGraw-
HillmEducation.
mynursytest.store
m m m m m m m m m
Chapter 02 Jo m m
b Order Costing and Analysis
m m m m
Truem/mFalsemQuestions
1. Costmaccounting msystemsmaccumulate mcostsmand mthenmassignsmthemmto mproductsmor mservices.
True False
2. A mcompanymthatmusesmamcostmaccounting msystemmnormallymhasmonlymtwo minventorymaccounts:mFini
shed mGoodsmInventorymand mWorkminmProcessmInventory.
True False
3. Costmaccounting minformationmismhelpfulmto mmanagementmfor mpricing mdecisionsmbutmhasmno meffec
tmonmcontrolling mcosts.
True False
4. Theremaremtwo mbasicmtypesmofmcostmaccounting msystems:mjob morder mcosting mand mperiodicmcosting.
True False
5. A mcompanymthatmproducesmamlargemnumber mofmstandardized munitsmwould mnormallymusemamjob m
order mcosting msystem.
True False
02-1
Copyrightm©m2016 mMcGraw-
HillmEducation. mAllmrights mreserved. mNo mreproduction mor mdistribution mwithoutmthemprior mwritten mconsentmof m McGraw-
HillmEducation.
mynursytest.store
,DOWNLOAD THE Test Bank for Managerial Accounting 5th Edition Wild
m m m m m m m m m
6. Job morder mproductionmsystemsmwould mbemappropriate mfor mcompaniesmthatmproducemcustommho
mes,mspecialized mequipment,mand mspecialmcomputer msystems.
True False
7. Job morder mproductionmsystemsmwould mbemappropriate mfor mcompaniesmthatmproducemcompactmdisk
smor mdisposable mcameras.
True False
8. A mjob morder mcosting msystemmwould mbemappropriatemfor mammanufacturer mofmautomobilemtires.
True False
9. Job morder mproductionmsystemsmwould mbemappropriate mfor mcompaniesmthatmproducemtraining mfilm
smfor mamspecificmcustomer mor mcustom-mademfurnituremto mbemused minmamnewmfive-
star mresortmhotel.
True False
10. A mcompany'smfilemofmjob mcostmsheetsmjobsmnotmyetmcompleted mequalsmthembalanceminmthemFin
ished mGoodsmInventorymaccount.
True False
11. Themdirectmmaterialsmsectionmofmamjob mcostmsheetmshowsmthemmaterialsmcostsmassigned mto mamjob,mb
utmthemdirectmlabor msectionmonlymshowsmthemtotalmhoursmofmlabor mallocated mto mthemjob.
True False
02-2
Copyrightm©m2016 mMcGraw-
HillmEducation. mAllmrights mreserved. mNo mreproduction mor mdistribution mwithoutmthemprior mwritten mconsentmof m McGraw-
HillmEducation.
mynursytest.store
,DOWNLOAD THE Test Bank for Managerial Accounting 5th Edition Wild
m m m m m m m m m
12. Themcollectionmofmcostmsheetsmfor munfinished mjobsmmakesmup mamsubsidiarymledger mcontrolled mb
ymthemWorkminmProcessmInventorymaccountminmthemgeneralmledger.
True False
13. A mjob mcostmsheetmismusefulmfor mdeveloping mfinancialmaccounting mnumbersmbutmdoesmnotmco
ntainminformationmthatmismusefulmfor mmanaging mthemproductionmprocess.
True False
14. Job mcostmsheetsmaremused mto mtrackmallmofmthemcostsmassigned mto mamjob,mincluding mdirectmmaterials,m
directmlabor,moverhead,mand mallmselling mand madministrativemcosts.
True False
15. Whenmamjob mismfinished,mitsmjob mcostmsheetmismcompleted mand mmoved mfrommthemfilemofmjobsminmp
rocessmtomthemfilemofmfinished mjobsmthatmaremyetmto mbemdelivered mto mcustomers.
True False
16. Themfilemofmjob mcostmsheetsmfor mcompleted mbutmundelivered mjobsmequalsmthembalanceminmthemW
orkminmProcessmInventorymaccount.
True False
17. Bothmdirectmand mindirectmlabor mcostsmaremrecorded monmthemindividualmjob mcostmsheets.
True False
02-3
Copyrightm©m2016 mMcGraw-
HillmEducation. mAllmrights mreserved. mNo mreproduction mor mdistribution mwithoutmthemprior mwritten mconsentmof m McGraw-
HillmEducation.
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, DOWNLOAD THE Test Bank for Managerial Accounting 5th Edition Wild
m m m m m m m m m
18. Servicemfirms,munlikemmanufacturing mfirms,mshould monlymusemactualmcostsmwhenmdetermining mamse
lling mpricemfor mtheir mservices.
True False
19. Job morder mcosting mismapplicablemto mmanufacturing mfirmsmonlymand mnotmservicemfirms.
True False
20. Themcostmofmallmdirectmmaterialsmissued mto mproductionmismdebited mto mWorkminmProcessmInventory.
True False
21. A mmaterialsmrequisitionmismamsourcemdocumentmused mbymproductionmmanagersmto mrequestmmaterial
smfor mproductionmand malso mused mto massignmmaterialsmcostsmto mspecificmjobsmor mto moverhead.
True False
22. Whenmmaterialsmaremused masmindirectmmaterials,mtheir mcostmismdebited mto mthemFactorymOver
head maccount.
True False
23. A mmaterialsmrequisitionmismamsourcemdocumentmused mbymmaterialsmmanagersmofmammanufacturing
m companymto morder mrawmmaterialsmfrommsuppliers;mitmservesmthemsamempurposemasmampurchasemor
der minmammerchandising mcompany.
True False
24. Materialsmrequisitionsmand mtimemticketsmaremcostmaccounting msourcemdocuments.
True False
02-4
Copyrightm©m2016 mMcGraw-
HillmEducation. mAllmrights mreserved. mNo mreproduction mor mdistribution mwithoutmthemprior mwritten mconsentmof m McGraw-
HillmEducation.
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