The cost flow pattern in order) used in a job order system is Raw materials, work in Raw materials, cost of goods a. sold, work in process, finished goods Raw materials, finished Raw materials, work in b.goods, work in process, cost o C.process, cost of goods of goods sold sold, finished goods od process, finished goods, cost of goods sold QUESTION 11 A process cost system probably would normally have more than one work in process inventory account. O a. True Ob. False QUESTION 12 Which one of the following activities would typically be considered a non-value added activity? a. Storage o b. Multiple inspections oc Moving the producted. All of the above QUESTION 13 Which of the following products most likely would be accounted for using a job order costing system? a. Breakfast cereal b. Paint c. Custom lake homes d. Candy bars QUESTION 14 A non-value added activity is one that does not create value for the customer. a. True b. False QUESTION 15 Which of the following businesses is most likely to use a process cost system? a. oil and gas company b. motor repair shop c.construction company od custom furniture company QUESTION 16 Conversion costs consist of all the following except a. factory overhead b. direct laborc direct materials Jackson Company applies overhead based on direct labor hours. At the beginning of the year, Jackson estimated that overhead costs would be $320,000 and estimated that direct labor hours would be 80.000. Actual hours incurred for Job A were 81,000. The total actual overhead costs for the company were $425,000. Compute the predetermined overhead rate per direct labor hour. (You might not need all this information) a $4.00 ob.$3.95 c $4.10 d. $5.25 QUESTION 18 Jackson Company applies overhead based on direct labor hours. At the beginning of the year, Jackson estimated that overhead costs would be $320,000 and estimated that direct labor hours would be 80,000. Actual hours incurred for Job A were 81,000. The total actual overhead costs for the company were $425,000. Compute the overhead applied to Job A. a $419,753 b. $425,000 $320,000 d. $324,000 QUESTION 19 In job order costing, the entry to purchase direct and indirect materials on account would involve which of the following? (It might help to write out the whole entry first as you answer these next questions but you must destroy this paper after you finish the test) a. debit to work in process b. credit to cost of goods sold c. debit to materials inventory d. debit to accounts payable