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Cornerstones of Managerial Accounting Study Set 2
Quiz 5: Job-Order Costing
Refer to Quillen Company
Question 153
Multiple Choice
Refer to Quillen Company. Allocating S1 costs first, how much of the support department costs will be allocated from Department S2 to the Cutting Department? A) $0 B) $34,500 C) $138,000 D) $172,500
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Q 154
Refer to Quillen Company. Allocating S1 costs first, how much of the support department costs will be allocated from Department S2 to the Cutting Department? A) $0 B) $34,500 C) $138,000 D) $172,500
Q 155
There are two major types of companies for costing purposes: those that use a job-order costing system and those that use process costing systems. A. Explain the differences between the two types of systems. B. List 3 examples of each type of company.
Q 156
Consider two costing systems, normal costing and actual costing. A. Which costing system do most firms use to assign costs to units of product or service? What does this costing system include? B. What is the other costing system? What does this costing system include?
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