True False Cross-training is one benefit of the just-in-time processing system.
ID: 2421055 • Letter: T
Question
True False
Cross-training is one benefit of the just-in-time processing system. True or False
When materials are purchased, the materials account is debited. True or False
When materials are requisitioned from the storeroom, work in process is debited. True or False
Indirect materials is an example of factory overhead. True
In the just-in-time system, the product is often placed on a movable carrier that is centrally located in the work center. True
When using the process costing method there is only one work in process account for the item that is manufactured. True or False
The just-in-time processing method is a type of traditional production method. True or False
The use of the Just in time system reduces the amount of labor costs for a company. True or False
Multiple Choice
_________________ is primarily used for bulk items that are indistinguishable.
Job Order Costing
Process Order Costing
Financial Accounting
None of the above
All of the following are benefits of just in time processing EXCEPT:
Increase in efficiency
Eliminates Poor Quality
Has the potential to overwork employees
All of the above are benefits
The ___________________ emphasizes continually improving the manufacturing process and product quality.
Job Order Cost System
Process Cost System
Just-in-time system
None of the above
Activities supporting the manufacturing process are called______________.
Service activities
Manufacturing Cell Activities
Work Center Activities
None of the Above
Exercises/Other
Alice Farms purchased materials milk, sugar, cream, and packaging items on account for $5,550. Using the process cost system, answer the following questions.
What account should be debited to record the receipt of these items?
___________________________________
What account should be credited to record the receipt of these items?
___________________________________
The Mixing Department requisitioned milk, cream, and sugar totaling $9,658. Using the process cost system, answer the following questions.
What account should be debited to record the receipt of these items?
___________________________________
What account should be credited to record the receipt of these items?
___________________________________
A company purchased raw materials totaling $35,000. Answer the following questions using the process cost method.
Which account would the company debit? ____________________
Which account would the company credit? ____________________
A sewing department requisitions $4,000 of buttons and $3,250 of thread from the storeroom. Record the journal entry for this transaction.
Explanation / Answer
rue False
Cross-training is one benefit of the just-in-time processing system. False
When materials are purchased, the materials account is debited. True
When materials are requisitioned from the storeroom, work in process is debited. True
Indirect materials is an example of factory overhead. True
In the just-in-time system, the product is often placed on a movable carrier that is centrally located in the work center. True
When using the process costing method there is only one work in process account for the item that is manufactured. False
The just-in-time processing method is a type of traditional production method. False
The use of the Just in time system reduces the amount of labor costs for a company. False
Multiple Choice
_________________ is primarily used for bulk items that are indistinguishable.
Job Order Costing
All of the following are benefits of just in time processing EXCEPT:
Has the potential to overwork employees
The ___________________ emphasizes continually improving the manufacturing process and product quality.
Just-in-time system
Activities supporting the manufacturing process are called______________.
Service activities
Exercises/Other
Alice Farms purchased materials milk, sugar, cream, and packaging items on account for $5,550. Using the process cost system, answer the following questions.
What account should be debited to record the receipt of these items?
Materials A/c.
What account should be credited to record the receipt of these items?
Accounts Payable or Creditors or Bank or Cash
The Mixing Department requisitioned milk, cream, and sugar totaling $9,658. Using the process cost system, answer the following questions.
What account should be debited to record the receipt of these items?
Work In Process A/c or Work In Progress A/c
What account should be credited to record the receipt of these items?
Materials A/c
A company purchased raw materials totaling $35,000. Answer the following questions using the process cost method.
Which account would the company debit? Materials Ac.
Which account would the company credit? - Accounts Payable or Creditors or Bank or Cash
A sewing department requisitions $4,000 of buttons and $3,250 of thread from the storeroom. Record the journal entry for this transaction.
Work In Progress A/c Dr = $ 7250
To Buttons ( Materials) - $ 4000
To Threads ( Materials) $ 3250
(Being materials issued to stores for processing)
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