Reference no: EM132551103
Question 1: In an actual cost system, it is difficult to determine the _____ per unit.
Group of answer choices
A. overhead
B. direct labor
C. direct materials
D. none of these are easy to determine
Question 2: To purchase materials on account, the entry would be:
Group of answer choices
A. Debit Finished Goods 2,000; Credit Materials 2,000
B. Debit Materials 2,000; Credit WIP 2,000
C. Debit AP 2,000; Credit Sales 2,000
D. Debit Materials 2,000; Credit AP 2,000
Question 3: Applied overhead costs are charged to ________________.
Group of answer choices
A. Wages payable
B. Materials
C. Finished goods
D. Work in process
Question 4: The difference between actual overhead and applied overhead is called a (n) _________________.
Group of answer choices
A. cost of goods sold
B. fixed overhead
C. variable overhead
D. overhead variance
Question 5: In ___________ costs are accumulated by department.
Group of answer choices
A. process costing
B. activity-based cosing
C. direct costing
D. variable costing
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Evaluate the cost of ending inventory is
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