Chapter 3

Question 1

Process costing

Answer 1

Used when the company produces many units of a single product through a series of uniform production steps

Question 2

Job costing

Answer 2

Used when many different products are produced each period

Question 3

MOH

Answer 3

Indirect materials, indirect labor, plant utilities, factory maintenance

Question 4

Predetermined MOH Rate

Answer 4

Est MOG for period/est total units for period

Question 5

MOH allocated

Answer 5

POHR x actual activity level

Question 6

Selling price

Answer 6

Cost+ mark up