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13) Under Normal Costing, when would overhead be applied to a job? In Work In Process...

13)

Under Normal Costing, when would overhead be applied to a job?

  • In Work In Process Inventory

  • In Cost of Goods Sold

  • In Finished Goods Inventory

15)

A company using Just In Time philosophies would probably have ___________ differences between variable and absorption costing net operating incomes for a particular year than a company that does not use these philosophies.

  • Smaller

  • Larger

17)

A company has UNDERAPPLIED overhead for the year. If all other things remain constant, which of the following will give the company the highest net operating income?

  • Closing the underapplied overhead totally to Cost of Goods Sold

  • Allocating the underapplied overhead to the appropriate accounts

18)

The main difference between a normal cost system and an activity based cost system is the number of

  • Number of Overhead rates

  • Different products that are being manufactured

  • Direct Materials used to manufacture products

  • Types of direct labor used in the factory

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