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SEMI-FINAL EXAM (Managerial Accounting)

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21 views

SEMI-FINAL EXAM (Managerial Accounting)

exam

Uploaded by

dbnatoc18
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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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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