D101 Cost and Managerial Accounting - Set 2 - Part 2

Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.

Question 21:

To calculate the number of units completed during the period

To calculate total fixed costs

Question 22:

Debit to manufacturing overhead, credit to work-in-process inventory

Debit to work-in-process inventory, credit to salaries and wages payable

Question 23:

To allocate costs more accurately to products or services

To reduce the total cost of production

Question 24:

Based on actual overhead costs incurred

Using a predetermined overhead rate

Question 25:

Costs of materials used in production

Costs of factory rent and utilities

Question 26:

Direct labor

Manufacturing overhead

Question 27:

Debited to cost of goods sold

Credited to finished goods inventory

Question 28:

Machine hours used

Total sales revenue

Question 29:

When producing large volumes of similar products

When producing custom-made products

Question 30:

To measure labor efficiency in production

To calculate the cost per unit for unfinished goods

Question 31:

Materials requisition form

Job cost sheet

Question 32:

A group of costs incurred due to direct labor

A group of costs incurred due to direct materials

Question 33:

They are included in work-in-process inventory

They are added to the cost of direct materials

Question 34:

Beginning work-in-process inventory + total manufacturing costs - ending work-in-process inventory

Beginning finished goods inventory + cost of goods sold - ending finished goods inventory

Question 35:

The overhead applied to jobs is greater than actual overhead

The overhead applied to jobs is less than actual overhead

Question 36:

It results in less accurate cost allocation

It is complex and costly to implement

Question 37:

By using actual overhead costs

By using a predetermined overhead rate

Question 38:

By multiplying the cost per unit by the number of units completed

By summing the cost of direct labor and direct materials

Question 39:

Quality inspection of finished goods

Depreciation of the factory

Question 40:

It provides detailed cost information for custom jobs

It simplifies cost allocation for mass production of similar products

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