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A Source Document That Production Managers Use to Request Materials

Question 64
Multiple Choice

A source document that production managers use to request materials for production and that is used to assign materials costs to specific jobs or to overhead is a: A) Job cost sheet. B) Production order. C) Materials requisition. D) Materials purchase order. E) Receiving report.

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Q 65
A company that uses a job order cost accounting system would make the following entry to record the flow of direct materials into production: A) debit Goods in Process Inventory, credit Cost of Goods Sold. B) debit Goods in Process Inventory, credit Raw Materials Inventory. C) debit Goods in Process Inventory, credit Factory Overhead. D) debit Factory Overhead, credit Raw Materials Inventory. E) debit Finished Goods Inventory, credit Raw Materials Inventory.
Q 66
The Goods in Process Inventory account for AB Manufacturing follows. Compute the cost of jobs completed and transferred to Finished Goods Inventory. The cost of units transferred to finished goods is: A) $97,000. B) $105,900. C) $88,100. D) $95,200. E) $92,500.
Q 67
A company's overhead rate is 60% of direct labor cost. Using the following incomplete accounts, determine the cost of direct materials used. A) $106,400. B) $113,120. C) $30,240. D) $211,680. E) $324,800.
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