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
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
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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?
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19.Which of the following is a product cost?
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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
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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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which of the following is not a reason a service firm would use a job order costing system?
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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?
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answered Sep 10, 2021to determine department costs within the firm