Which of the following represents the factory overhead applied to a product? a. Actual factory overhead rate times estimated activity base. b. Predetermined factory overhead rate times actual activity base. c. Actual factory overhead rate times actual activity base. d. Predetermined factory overhead rate times estimated activity base.

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The entry to record the flow of direct labor costs into production in a job order cost accounting system is: a. Debit Factory Overhead, credit Work in Process. b. Debit Finished Goods, credit Wages Payable. c. Debit Work in Process, credit Wages Payable. d. Debit Factory Overhead, credit Wages Payable.
In a job order cost accounting system, the entry to record the flow of direct materials into production is: a. Debit Materials, credit Work in Process. b. Debit Work in Process, credit Materials. c. Debit Work in Process, credit Supplies. d. Debit Factory Overhead, credit Materials.
Which of the following are the two main types of cost accounting systems for manufacturing operations? a. Process cost and replacement cost systems b. Process cost and general accounting systems c. Job order cost and process cost systems d. Job order and general accounting systems
All of the following are examples of activity bases except: a. Raw materials storage. b. Salaries of supervisors. c. quality inspections of products. d. Number of machine setups.
Which of the following is the correct flow of manufacturing costs? a. Raw materials, work in process, finished goods, cost of goods sold. b. Cost of goods sold, raw materials, work in process, finished goods. c. Raw materials, finished goods, cost of goods sold, work in process. d. Work in process, finished goods, raw materials, cost of goods sold
The source of the data for debiting Work-in-Process for direct materials is the: a. Receiving report. b. Purchase requisition. c. Purchase order. d. Materials requisition.

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What would be the proper journal entry to record the purchase of $25,062 of raw materials on account?Select the correct answer.Jan.02 Inventory $25,062 Accounts Receivable $25,062Jan.02 Raw Material Inventory $25,062 Accounts Payable $25,062Jan.02 Inventory $25,062 Cash $25,062Jan.02 Raw Material Inventory $25,062 Accounts Receivable $25,062
If the amount of factory overhead cost incurred exceeds the amount applied, the factory overhead account will have a: a. Debit balance and be underapplied. b. Credit balance and be overapplied. c. Credit balance and be underapplied. d. Debit balance and be overapplied.
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