Multiple Choice (2 %pts each) 1. Job order costing and process costing are systems of a. product costing b. inventory costing c. product pricing d. cost flow assumptions 2. Product costs appear on the income statement as materials inventory cost of goods sold b. c. Sales commissions d. none of these 3. Which of the following products probably would be manufactured using a job order costing system? a. services provided by a CPA firm b. paper computer monitors soft drinks none of the above C. d. e. 4. Which of the following products probably would be produced by a company using a process costing system? a painting a. b. the repair of a vehicle c. tooth paste custom home d. e. none of the above would use process costing When Seely Cabinet Company's Job #105 emerges fully completed. Seely's a. total assets are increased b. c. work in process is decreased d. work in process is increased total assets are decreased The total of the dollar amounts on the job order cost cards that have not been 6. completed would be equal to the a. cost of goods completed b. ending balance in the Work in Process Inventory account c. ending balance in the Finished Goods Inventory account d. Cost of Goods Sold account