Chapter 5

b. gives the total actual overhead costs at a given point in time.

A debit balance in Overhead Control: a. indicates applied overhead exceeds actual overhead. b. gives the total actual overhead costs at a given point in time. c. indicates actual overhead costs have entered the work-in-process inventory account. d. equals the total applied overhead at a given point in time.

d. purchased.

A debit to Materials Inventory indicates materials were a. ordered. b. requisitioned. c. put into production. d. purchased.

d. manufacturing costs other than direct materials and direct labor.

Manufacturing overhead consists of all a. costs other than direct materials. b. manufacturing costs other than direct materials. c. costs other than direct materials and direct labor. d. manufacturing costs other than direct materials and direct labor.

c. applied overhead

Normal costing uses which cost in work in process? a. applied direct materials b. actual overhead c. applied overhead d. budgeted overhead

b. an electronics producer.

Process costing would be most applicable for a. custom machining. b. an electronics producer. c. high rise building construction. d. CPA audits.

a. job-order cost sheet

The document that identifies each job and accumulates its manufacturing costs is called: a. job-order cost sheet b. control account c. production order d. bill of materials

d. all of the above.

Unit cost information is needed for a. costing inventory. b. financial reporting requirements. c. decision making. d. all of the above.

d. both a and b

Which of the following costing systems assigns actual costs of materials to inventory? a. actual costing system b. normal costing system c. standard costing system d. both a and b

b. chemicals

Which of the following products would NOT use job-order costing? a. houses b. chemicals c. ships d. custom-built furniture

d. satellites

Which of the following would NOT use a process costing system? a. electrical wire b. cotton yarn c. newsprint d. satellites