Kahoot Review

What type of overhead level is cost on designing products?

What type of overhead activity cost is insurance on buildings?

What type of overhead activity is machine time used to manufacture product?

What type of overhead activity level is the cost driver of # of square feet in buildings?

What type of overhead activity level is ordering cost?

For a picture frame manufacturing company, what type of cost is glass for frames?

For a picture frame manufacturing company, what type of cost is wages for assembly workers?

For a picture frame manuf. co., what type of cost is depreciation on building for the assembly facility?

For a picture frame manuf. co., what type of cost is salary of plant supervisor?

For a picture frame manuf. co., what type of cost is packing materials to ship frames?

For a picture frame manuf. co., what type of cost sales commissions?

For a picture frame manuf. co., what type of cost cleaner for glass?

Revenues are recognized when they are:

For the revenue process which of the following is the document order?

A)  Customer order, bill or lading, sales order, packing slip
B) Customer order, packing slip, sales order, bill of lading
C) Sales order, packing slip, customer order, bill of lading
D)  Customer order, sales order, packing slip, bill of lading

In the following journal entry, revenue is being recognized:

Cash             xxx
      Unearned Rev.     xxx

Which of the following is not an advantage of LIFO over FIFO?

A)  cost of goods sold better approximates current replacement cost
B)  better inventory figure on balance sheet
C)  better matching of revenues and costs on the income statement
D)  lower income taxes

A cash sale would impact the:

A) Bal sheet and income statement only
B) Bal sheet, income statement, and statement of cash flows
C) Bal sheet and statement of cash flows only
D) Income statement only

If ending inventory is too big which of the following statements is true?

A)  Cost of Goods Sold is too big and income is too big
B)  Cost of Goods Sold is too small and income is too small
C)  Cost of Goods Sold is too big and income is too small
D)  Cost of Goods Sold is too small and income is too

Which of the following is not one of the activities of the conversion process?

A) Obtain raw material
B)  Use labor and other manufacturing resources to create finished goods.
C) Schedule production
D) Selling finished goods

The predetermined manufacturing overhead rate per production run is:

Est-
Production runs: 500
Manufac. Overhead Costs: $775,000

Actual-
Production Runs: 535
Manufac. Overhead Costs: $846,370

The amount of manufacturing overhead applied to Work-in-Process Inventory is:

Est-
Production runs: 500
Manufac. Overhead Costs: $775,000

Actual-
Production Runs: 535
Manufac. Overhead Costs: $846,370

The amount of over/under applied manufacturing overhead is:

Est-
Production runs: 500
Manufac. Overhead Costs: $775,000

Actual-
Production Runs: 535
Manufac. Overhead Costs: $846,370