Brooks Final Exam 2024 Questions & Answers 100% accurate!

Which of the following is not typical of traditional costing systems? - ANSWER-Use of multiple cost drivers to allocate overhead. Value-added activities - ANSWER-all of the above. Which of the following is a batch-level activity? - ANSWER-Purchase ordering The use of activity-based costing in service industries - ANSWER-all of these. An "Ordering and Receiving Materials" cost pool would most likely have as a cost driver: - ANSWER-number of purchase orders. Which of the following is a unit-level activity? - ANSWER-Painting If actual overhead is less than applied manufacturing overhead, then manufacturing overhead is: - ANSWER-overapplied. If the entry to assign factory labor showed only a debit to Work In Process Inventory, then all labor costs were - ANSWER-direct labor. An important feature of a job order cost system is that each job - ANSWER-has its own distinguishing characteristics. The predetermined overhead rate is based on the relationship between - ANSWER-estimated annual costs and expected annual activity. Process costing is not used when - ANSWER-jobs have distinguishing characteristics. The Raw Materials Inventory account is - ANSWER-debited for invoice costs and freight costs chargeable to the purchaser. In the month of June, a department had 20,000 units in beginning work in process that were 70% complete. During June, 80,000 units were transfered into production from another department. At the end of June there were 10,000 units in ending work in process that were 40% complete. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. How many units were transferred out of the process in June? - ANSWER-90,000 units Materials costs of $800,000 and conversion costs of $1,020,000 were charged to a