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Which of the following businesses uses a process-costing system? a. An automobile service center b. A petroleum refinery Oc. An interior designing firm d. A printing business e. A dental clinic Which of the following is not true of job-order costing? a. It is used in firms that produce homogeneous products. b. The key document for accumulating manufacturing costs is the job-order cost sheet. c. The cost of each job is accumulated on the job-order cost sheet. d. All of these choices are correct. e. None of these choices are correct. Which of the following is true of normal costing? Oa. Actual direct materials cost is traced to products, but estimated direct labor and estimated overhead costs are assigned using predetermined rutes b. Actual direct materials and direct labor costs are traced to products, but estimated overhead costs are assigned using predetermined rates. c. Actual direct materials, actual direct labor, and actual overhead cost are assigned to products. d. Actual direct labor cost is traced to products, but estimated direct materials and estimated overhead costs are assigned using predetermined rates e. All manufacturing costs are assigned using predetermined rates. Which method of measuring production costs is more widely practiced? a. Actual costing Ob. Normal costing c. Both are used equally. d. Neither is used e. Cannot be determined. In an actual cost system, it is difficult to obtain timely information about the Oa. overhead cost per unit b. direct labor cost per unit c. cost of direct materials consumed per unit d. All of these choices are correct. e. None of these choices are correct. A normal job-order costing system is a system that determines unit cost by using: a. actual costs for direct materials and estimated costs for direct labor and overhead. b. actual costs for direct materials and direct labor and estimated costs for overhead. c. actual costs for direct materials and overhead and estimated costs for direct labor. d. estimated costs for direct materials, direct labor, and overhead The Kraig Corporation manufactures custom-made purses. The following data pertain to Sob XYS: Direct materiais placed into production $4,000 Direct labor hours worked 50 hours Direct labor rate per hour $25 Machine hours worked 100 hours Plantwide overhead is applied using a plant-wide rate based on direct labor hours. Plantwide overhead was budgeted at $60,000 for the year and the direct labor hours were estimated to be 15,000. Job XY5 consists of 50 units. What is the overhead cost assigned to Job XYS? a. 5200 D$750 c. $400 d. 51,500 Carlson Company uses a predetermined rate to apply overhead. At the beginning of the year, Carlson estimated its overhead costs at $240,000, direct tabor hours at 40,000, and machine hours at 10,000. Actual overhead costs incurred were $249,280, actual direct labor hours were 41,000, and actual machine hours were 11,000. If the predetermined overhead rate is based on machine hours, what will be the total amount credited to the plantwide overhead account for the year for Cartoon? a $245,000 b. $240,000 C 5264,000 d. 5249,280 A(n) is subsidiary to the work-in-process account and is the primary document for accumulating all costs related to a particular task. a. job-order cost sheet b. time ticket Oc. labor details form d. materials requisition form e. None of these choices are correct. Which of the following is true of the job-order cost sheet? a. It is prepared for every job. b. It is the primary document for accumulating all costs related to a particular job. c. It contains all information pertinent to a particular job. d. It is subsidiary to the work-in-process account. e. All of these choices are correct