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A perpetual record of a raw materials item that records data on the quantity and cost of units purchased, units issued for use in production, and units that remain in the raw materials inventory, is called a(n):

[The following information applies to the questions displayed below.] Tasty Bakery produces donuts which go through two operations, mixing and baking, before they are ready to be packaged. Next year’s expected costs and activities are shown below.    Mixing   Baking Direct labor hours 300,000 DLH   70,000 DLH Machine hours 1,000,000 MH   800,000 MH Overhead costs $500,000     $400,000   When calculating the departmental overhead rate, the numerator should be?

Put the following ABC implementation steps in order ________. A Use the activity overhead rates to assign overhead costs to cost objects.B Compute the allocation rates.C Trace overhead costs to cost pools.D Identify the activities and the overhead costs they cause.

If overhead applied is less than actual overhead incurred, it is:

The cost of workers who assist in, or supervise, the manufacturing process, not linked to specific units of product is called:

A manufacturing firm’s cost of goods manufactured is equivalent to a merchandising firm’s:

Comet Company accumulated the following account information for the year:          Beginning raw materials inventory $ 6,000   Indirect materials cost   2,000   Indirect labor cost   5,000   Maintenance of factory equipment   2,800   Direct labor cost   7,000    Using the above information, total factory overhead costs equal:

Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $2,500 of direct materials and used $4,000 of direct labor. The job was not finished by the end of September, but needed an additional $3,000 of direct materials and additional direct labor of $6,500 to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. What is the balance in the Work in Process account at the end of September relative to Job A3B?

The overhead cost applied to a job during a period is recorded with a credit to Factory Overhead and a debit to:

Use the cost information below for Ruiz Inc. to determine the total manufacturing costs incurred during the year:         Work in Process, January 1 $ 50,000   Work in Process, December 31   37,000   Direct materials used $ 12,500   Total factory overhead   5,500   Direct labor used   26,500