Under a standard cost system, when recording the use of direct materials in the production process, the debit to Work-in-Process Inventory is 00 A. actual quantity times actual cost per unit of direct materials B. actual quantity times standard cost per unit of direct materials C. standard quantity for actual production times actual cost per unit of direct materials D. standard quantity for actual production times standard cost per unit of direct materials

Under a standard cost system, when recording the use of direct materials in the production process, the debit to Work-in-Process Inventory is 00 A. actual quantity times actual cost per unit of direct materials B. actual quantity times standard cost per unit of direct materials C. standard quantity for actual production times actual cost per unit of direct materials D. standard quantity for actual production times standard cost per unit of direct materials

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Description: Under a standard cost system, when recording the use of direct materials in the production process, the debit to Work-in-Process Inventory isA. actual quantity times actual cost per unit of direct materialsB. actual quantity times standard cost per

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter10: Standard Costing And Variance Analysis

Section: Chapter Questions

Problem 6MCQ: The standard direct labor hours allowed is computed as a. Unit Labor Standard Actual Output. b....

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From beginning to end, place these items in the order of the flow of goods. A. cost of goods sold B. raw materials inventory C. finished goods inventory D. work in process inventory
Accumulating costs means that a. costs must be summed and entered on the income statement. b. each cost must be linked to some cost object. c. costs must be measured and tracked. d. costs must be allocated to units of production. e. costs have expired and must be transferred from the balance sheet to the income statement.
Which is nor needed to compute equivalent units of production? A. the percentage of completion for inventory still in process B. the number of units transferred out C. the number of units started and completed D. the material cost per unit
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Which of the following is the step in which materials, labor, and overhead are detailed? A. determining the units to which costs are assigned B. determining the equivalent units of production C. determining the cost per equivalent units D. allocating the costs to the units transferred out and the units partially completed
During production, how are the costs in process costing accumulated? A. to cost of goods sold B. to each individual product C. to manufacturing overhead D. to each individual department
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added at the beginning of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
Which of the following is a conversion cost? A. raw materials B. direct labor C. sales commissions D. direct material used
Which is the correct formula for computing the overhead rate? A. estimated use of the cost driver for production/estimated overhead for the activity B. estimated overhead for the product/estimated use of the cost driver for the activity C. estimated use of the cost driver for production/estimated overhead for the activity D. estimated overhead for the activity/estimated use of the cost driver for the activity
Under variable costing, a unit of product includes which costs? direct material, direct labor, and manufacturing overhead Direct material, direct labor, and variable manufacturing overhead Direct material, direct labor, and fixed manufacturing overhead D. Direct material, direct labor, and all variable manufacturing overhead
Complete this production cost report: