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ANS: B DIF: Easy OBJ: 19-01 NAT: AACSB Analytic | IMA-Cost Management 10. Which of the following is not true about why a service firm will use the job order costing system? 11. Which of the following costs are NOT included in finished goods inventory? A. Direct labor b. Factory overhead c. Company president”s salary d. Direct materials ANS: C DIF: Easy OBJ: 19-02 NAT: AACSB Analytic | IMA-Cost Management 12. Which of the following is the correct flow of manufacturing costs? A. Raw materials, work in process, finished goods, cost of goods sold b. Raw materials, finished goods, cost of goods sold, work in process. C. Work in process, finished goods, raw materials, cost of goods sold d. Cost of goods sold, raw materials, work in process, finished goods. ANS: A DIF: Easy OBJ: 19-02 NAT: AACSB Analytic | IMA-Cost Management 13. Which of the following would record the labor costs to an individual job? A. Clock card b. In-and-out cards c. Time tickets d. Payroll register ANS: C DIF: Mod
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