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Depreciation on factory plant and equipment is an...

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Depreciation on factory plant and equipment is an example of factory overhead cost. A. True B. False Cost of oil used to lubricate factory machinery and equipment is an example of a direct materials cost. A. True B. False If factory overhead applied exceeds the actual costs, the factory overhead account will have a credit balance. A. True B. False For which of the following businesses would the job order cost system be appropriate? a. Meat processor b. Automobile manufacturer c. Oil refinery d. Construction contractor For which of the following businesses would the process cost system be appropriate? a. Book retailer b. Dress designer c. Lumber mill d. Printing firm At the end of the year, overhead applied was $35,000,000. Actual overhead was $34,200,000. Closing over/under applied overhead into cost of goods sold would cause net income to increase/decrease by? a. Increase by $800,000 b. Decrease by $800,000 c. Not effect net income. d. Decrease net income by $200,000 The recording of the factory labor incurred for general factory use would include a debit to: a. Factory Overhead b. Wages Payable c. Wages Expense d. Cost of Goods Sold The recording of the application of factory overhead costs to jobs would include a credit to: a. Factory Overhead b. Wages Payable c. Work in Process d. Cost of Goods Sold MATCHING (8 POINTS) The following are some of the costs incurred by Cupcake Company. Identify them as either: Write the letter in the space provided a. Direct Materials b. Direct Labor c. Factory Overhead d. Period Costs _____ 1. Salesman commissions _____ 2. Factory Rent _____ 3. Depreciation expense - factory _____ 4. Frosting _____ 5. Baker?s wages _____ 6. Depreciation expense - office _____ 7. Cupcake mix _____ 8. Sprinkles for decoration,i need the answers no later then 145pm est today.,how do i get my money back? I needed the answers by 145 pm today EST.

 

Paper#8054 | Written in 18-Jul-2015

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