D) A) B) C) 29.) Which of the following would usually be found on a job...

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D) A) B) C) 29.) Which of the following would usually be found on a job cost sheet under a normal cost system? Actual direct material cost Actual manufacturing overhead cost A) 13) C) D) Yes Yes No No 30.) Which of the following statements about using a plantwide overhead rate based on direct labor is correct? A) Using a plantwide overhead rate based on direct labor-hours will ensure that direct labor costs are correctly traced to jobs. B) Using a plantwide overhead rate based on direct labor costs will ensure that direct labor costs will be correctly traced to jobs. C) Work in Process D) Cost of Goods Sold C) It is often overly simplistic and incorrect to assume that direct labor-hours is a company's only manufacturing overhead cost driver. D) The labor theory of value ensures that using a plantwide overhead rate based on direct labor will do a reasonably good job of assigning overhead costs to jobs. 31.) In a job-order costing system, indirect labor cost is usually recorded as a debit to: A) Manufacturing Overhead B) Finished Goods 32.) In a job-order costing system, manufacturing overhead applied is recorded as a debit to: A) Raw Materials B) Finished Goods Inventory C) Work in Process Inventory D) Cost of Goods Sold 33.) The journal entry to record applying overhead during the production process is: Manufacturing Overhead Work In Process Finished Goods Manufacturing Overhead Yes No Yes No Manufacturing Overhead Finished Goods Work In Process Manufacturing Overhead XXX XXX XXX XXX XXX XXX XXX XXX D) A) B) C) 29.) Which of the following would usually be found on a job cost sheet under a normal cost system? Actual direct material cost Actual manufacturing overhead cost A) 13) C) D) Yes Yes No No 30.) Which of the following statements about using a plantwide overhead rate based on direct labor is correct? A) Using a plantwide overhead rate based on direct labor-hours will ensure that direct labor costs are correctly traced to jobs. B) Using a plantwide overhead rate based on direct labor costs will ensure that direct labor costs will be correctly traced to jobs. C) Work in Process D) Cost of Goods Sold C) It is often overly simplistic and incorrect to assume that direct labor-hours is a company's only manufacturing overhead cost driver. D) The labor theory of value ensures that using a plantwide overhead rate based on direct labor will do a reasonably good job of assigning overhead costs to jobs. 31.) In a job-order costing system, indirect labor cost is usually recorded as a debit to: A) Manufacturing Overhead B) Finished Goods 32.) In a job-order costing system, manufacturing overhead applied is recorded as a debit to: A) Raw Materials B) Finished Goods Inventory C) Work in Process Inventory D) Cost of Goods Sold 33.) The journal entry to record applying overhead during the production process is: Manufacturing Overhead Work In Process Finished Goods Manufacturing Overhead Yes No Yes No Manufacturing Overhead Finished Goods Work In Process Manufacturing Overhead XXX XXX XXX XXX XXX XXX XXX XXX

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Answer Solution 29 The correct option is B Under normal costing actual direct material cost ... View the full answer