Which of the following is not a reason a service firm would use a job order costing system
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16.The Thomlin Company forecasts that total overhead for the current year will be $15,000,000 with300,000 total machine hours. Year to date, the actual overhead is $16,000,000 and the actualmachine hours are 330,000 hours. If the Thomlin Company uses a predetermined overhead ratebased on machine hours for applying overhead, as of this point in time (year to date), theoverhead isa.$1,000,000 overappliedb.$500,000 overappliedc.$1,000,000 underappliedd.$500,000 underapplied Show 17.The journal entry to record the transfer of 1,600 units of part number 1177 with a value of $2.50each, to work in process is Get answer to your question and much more 18.Adams Company is a manufacturing company that has worked on several production jobs duringthe first quarter of the year. Below is a list of all the jobs for the quarter:BalanceJob No. 356$450Job No. 3571,235Job No. 358378Job No. 359689Job No. 360456Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were sold at a profit of $500 oneach job.What is the ending balance of Cost of Goods Sold for Adams Company at the end of the firstquarter? Get answer to your question and much more 19.Which of the following is a product cost? Get answer to your question and much more Chapter 19:Job Order Costing61. Which of the following would record the labor costs to an individual job?a. clock cardsb. in-and-out cardsc. time ticketsd. a payroll registerANSWER:c DIFFICULTY:ModerateBloom’s: RememberingLEARNING OBJECTIVES:ACCT.WARD.16.19-02 - 19-02ACCREDITING STANDARDS:ACCT.ACBSP.APC.34 - Job Order CostingACCT.IMA.07 - Cost ManagementBUSPROG: Analytic62. The Thomlin Company forecasts that total overhead for the current year will be $15,500,000 with 250,000totalmachine hours. Year to date, the actual overhead is $16,000,000 and the actual machine hours are 330,000hours.The predetermined overhead rate based on machine hours is Get answer to your question and much more DIFFICULTY:ModerateBloom’s: ApplyingLEARNING OBJECTIVES:ACCT.WARD.16.19-02 - 19-02ACCREDITING STANDARDS:ACCT.ACBSP.APC.34 - Job Order CostingACCT.IMA.07 - Cost ManagementBUSPROG: Analytic
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by (321k points) asked in Other Sep 10, 2021 111 viewsWhich of the following is not a reason a service firm would use a job order costing system? 1 Answer
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(321k points) answered Sep 10, 2021to determine department costs within the firm Related questionsWhich of the following is not a characteristic of a job order costing system?It accumulates costs for each department within the factory, is not a characteristic of a job order costing system.
Which of the following would most likely use job order costing?Answer and Explanation: The answer is option A, a health care clinic. A health care clinic would most likely use a job-order costing system as it offers unique and specialized services to its clients.
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