ACCT 2

TRUE

A job order cost system identifies cost with a particular job rather than with a set time period

FALSE

A job order cost system is most appropriate when a large volume of uniform products are produced

TRUE

A process cost accounting system is appropriate for similar products that are continuously mass produced

FALSE

Actual manufacturing overhead costs are assigned to each job by tracing each overhead cost to a specific job

TRUE

Both direct labor cost and indirect labor cost are manufacturing costs

FALSE

Managerial accounting information generally pertains to an entity as a whole and is highly aggregated

TRUE

Manufacturing costs that cannot be classified as direct materials or direct labor are classified as manufacturing overhead

FALSE

When raw materials are purchased, the Work in Process Inventory account is debited