Module 1 Quiz and answers already
passed 2025
You are working for a product manufacturer whose bookkeeper is currently
recording all costs and expenses incurred in manufacturing directly to generic
accounts in the general ledger instead of recording such costs by product.
The manufacturer would like to be able to trace costs by product in the future.
Which costs can be specifically traced to a product and then recorded by the
bookkeeper if the manufacturer decides to invest in and use a job order
costing system as a product costing tool? - correct answer ✔Direct materials
and direct labor
Correct! In a job order costing system, direct materials and direct labor costs
can be specifically traced to a product or project.
You are working for a product manufacturer whose bookkeeper is currently
recording all costs and expenses directly to generic accounts in the general
ledger instead of by product. The manufacturer would like to be able to trace
costs by product in the future and implement job order costing.
What are the three steps required to implement a job order costing system? -
correct answer ✔Identify the product or project, trace direct costs, and
allocate overhead
Correct! The three steps in a job order costing system are identify the product
or project, trace direct costs, and allocate overhead.
Adam Simpson is the newly hired controller for Endothon Company. Adam
was hired to fix Endothon's job order costing system. One of the first things
Adam Simpson noticed was that even the simplest items were not being
passed 2025
You are working for a product manufacturer whose bookkeeper is currently
recording all costs and expenses incurred in manufacturing directly to generic
accounts in the general ledger instead of recording such costs by product.
The manufacturer would like to be able to trace costs by product in the future.
Which costs can be specifically traced to a product and then recorded by the
bookkeeper if the manufacturer decides to invest in and use a job order
costing system as a product costing tool? - correct answer ✔Direct materials
and direct labor
Correct! In a job order costing system, direct materials and direct labor costs
can be specifically traced to a product or project.
You are working for a product manufacturer whose bookkeeper is currently
recording all costs and expenses directly to generic accounts in the general
ledger instead of by product. The manufacturer would like to be able to trace
costs by product in the future and implement job order costing.
What are the three steps required to implement a job order costing system? -
correct answer ✔Identify the product or project, trace direct costs, and
allocate overhead
Correct! The three steps in a job order costing system are identify the product
or project, trace direct costs, and allocate overhead.
Adam Simpson is the newly hired controller for Endothon Company. Adam
was hired to fix Endothon's job order costing system. One of the first things
Adam Simpson noticed was that even the simplest items were not being
