Question

For questions 1-30, please enter your answers on the scan sheet provided (Blue side) and ONLY use pencil. For questions 31-34, use separate sheet(s) and make sure your NAME is on sheets to be handed in. 17. In a job order cost system, a credit to Manufacturing Overhead will be accompanied by a debit to A) Cost of Goods Manufactured. B) Finished Goods Inventory. CWork in Process Inventory Dy Raw Materials Inventory. 18) In a process cost system, A) a Work in Process account is maintained for each product. B) a materials requisition must identify the job on which the materials will be used. C) a Work in Process account is maintained for each process. D) one Work in Process account is maintained for all the processes, similar to a job order cost system. 19. A primary driver of overhead costs in continuous manufacturing operations is: A) direct labor dollars. B) direct labor hours. C) machine hours. D) machine maintenance dollars A characteristic of products that are mass-produced in a continuous 20 fashion is that A)) the products are identical or very similar in nature. B) they are grouped in batches. they are produced at the time an order is received their costs are accumulated on job cost sheets. 21) Which of the following manufacturing cost elements occurs in a process cost system? Direct materials. A) Direct labor. B) Manufacturing overhead. C) All of these. D) 22) In a process cost system, a production cost report is prepared only for the first processing department A) for all departments in the aggregate. B) for each processing department. C) D) only for the last processing department. Accounting 102, Examination 2 (Chapters 14, 15, 16, & 17)

just 18 please!

Answer 1

18)

Answer - C

A work in progress accounted is maintained for each process.

A Process cost system is used when nearly identical units are produced in large quantities.

In a process costing system, a separate account is opened for each process and on completion of the process, the costs are transferred to the next process.