1. a. Name two principal types of cost accounting
b. Which system provides for a separate record of
each particular quantity of product that passes
through the factory?
c. Which system accumulates the costs for each
department or process within the factory?
2. What kind of firm would use a job order cost
3. Which account is used in the job order cost system to accumulate direct materials, direct labor, and
factory overhead applied to production costs for
4. What document is the source for (a) debiting the
accounts in the materials ledger and (b) crediting
the accounts in the materials ledger?
5. What is a job cost sheet?
6. What is the difference between a clock card and
7. Discuss how the predetermined factory overhead
rate can be used in job order cost accounting to
assist management in pricing jobs.
8. a. How is a predetermined factory overhead rate
b. Name three common bases used in calculating
9. a. What is (1) overapplied factory overhead and
(2) underapplied factory overhead?
b. If the factory overhead account has a debit
balance, was factory overhead underapplied or
c. If the factory overhead account has a credit balance at the end of the first month of the fiscal
year, where will the amount of this balance be
reported on the interim balance sheet?
10. Describe how a job order cost system can be used
for professional service businesses.
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