Q1: The distinction between indirect and direct costs depends on:
|a. whether a cost differs between alternatives.|
|b. whether a cost is variable or fixed.|
|c. whether a cost is a product or a period cost.|
|d. whether a cost can be easily traced to the cost object under consideration.|
Q2. Which of the following would usually be found on a job cost sheet under a normal cost system?
|a) Item A|
|b) Item B|
|c) Item C|
|d) Item D|
Q3: What source document is used to determine the actual amount of direct materials to record on a job cost sheet?
|A)bill of materials|
|C)materials purchase order|
|D)materials requisition form|
|Q4 : The following data have been recorded for recently completed Job 450 on its job cost sheet. Direct materials cost was $3,044. A total of 46 direct labor-hours and 104 machine-hours were worked on the job. The direct labor wage rate is $15 per labor-hour. The company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $13 per machine-hour. The total cost for the job on its job cost sheet would be:|
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