Factory Wages for plant supervisors are ordinarily: A) Debited to Work-in-Process B) Debitèd to Overhead account C) Credited to Work-in-Process D) Credited to Overhead account

Name two principal types of cost accounting systems. Which system provides for a separate record of each particular quantity of product that passes through the factory? Which system accumulates the costs for each department or process within the factory? How is product cost information used by managers? Discuss how the predetermined factory overhead rate can be used in job order cost accounting to assist management in pricing jobs. How is a predetermined factory overhead rate calculated? Name three common bases used in calculating the rate. How can activity-based costing be used in service companies?

In a process cost system total costs are determined when the job is completed. costs are summarized in a job cost sheet. only one work in process account is used. the unit cost is total manufacturing costs for the period divided by the unts produced during the period.

Discuss the reason why companies use predetermined (factory) overhead rates rather than actual manufacturing overhead costs to apply overhead to jobs?  What purpose does that serve?

How would salaries of supervisors in the factory be classified? Group of answer choices direct labor indirect labor administrative period cost

The journal entry for adjustment of underallocated manufacturing overhead includes a: A) credit to Finished Goods Inventory. B) credit to Manufacturing Overhead. C) debit to Work-in-Process Inventory. D) credit to Cost of Goods Sold.

What is the journal entry to apply overhead into production in a job order cost accounting system. Group of answer choices debit work in process, credit factory overhead debit finished goods, credit factory overhead debit factory overhead, credit finished goods debit factory overhead, credit work in process

Which account is used in the job order cost system to accumulate direct materials, direct labour, and factory overhaed applied to production cost for industrial jobs.

The cost accountant prepares the cost of production summary by first collecting the period’s production costs from summaries of material requisitions, payroll, and factory overhead analysis sheets. True or False?

There are standard amounts of factory overhead. Explain the procedures to determine standard amounts of factory overhead at different levels of production.