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    SEMI-FINAL EXAM (Managerial Accounting)

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    SEMI-FINAL EXAM (Managerial Accounting)

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    SEMI-FINAL EXAM(Managerial Accounting)

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    SEMI-FINAL EXAM (Managerial Accounting)

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    dbnatoc18
    exam

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    © All Rights Reserved
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    MYSTICAL ROSE COLLEGE OF SCIENCE AND TECHNOLOGY

    POGONLOMBOY, MANGATAREM, PANGASINAN


    COLLEGE OF BUSINESS ADMINISTRATION MAJOR IN HUMAN RESOURCE MANAGEMENT
    BSBA-3B MANAGERIAL ACCOUNTING
    MIDTERM EXAMINATION

    NAME:__________________________ SCORE:______________

    STRICTLY NO ERASURES
    I- True or False (2PTS EACH)
    ________1. Manufacturing costs are generally incurred in one period and recorded in a subsequent period.
    ________2. A job order cost system and a process cost system are the two alternative methods for valuing
    inventories.
    ________3. Manufacturing Overhead is the only product cost that can be assigned to jobs as soon as the costs are
    incurred.
    ________4. Requisitions for direct materials are posted daily to the individual job cost sheets.
    ________5. There should be a separate job cost sheet for each job.
    ________6. A process cost accounting system is appropriate for similar products that are continuously mass
    produced.
    ________7. A company may use either a job-order cost system or a process cost system, but not both.
    ________8. A job order cost system identifies cost with a particular job rather than with asset time period.
    ________9. The perpetual inventory method cannot be used in a job order cost system.
    ________10.A job order cost system is most appropriate when large volume of similar product are produced.
    II- ESSAY (30 POINTS)
    1. What is the difference between Job order costing and Process Costing in terms of:
    a. Job Size (5PTS)
    b. Cost Accumulation (5PTS)
    2. Give10 Examples of Process Costing. (10PTS)
    3. A company can or cannot use both job-order costing and process costing.
    Explain the statement briefly. (10PTS)

    PREPARED BY: DAISY B. NATOC, LPT, MBA

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