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The document discusses job costing, defining direct costs as those traceable to a cost object in an economically feasible way. It explains that a cost object is anything for which cost measurement is desired and describes a cost pool as a grouping of individual indirect cost items. Additionally, it states that a manufacturer with multiple indirect cost pools uses separate cost-allocation rates for each pool.

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Allysa Nicole Diorec
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44 views1 page

File 1 Pe

The document discusses job costing, defining direct costs as those traceable to a cost object in an economically feasible way. It explains that a cost object is anything for which cost measurement is desired and describes a cost pool as a grouping of individual indirect cost items. Additionally, it states that a manufacturer with multiple indirect cost pools uses separate cost-allocation rates for each pool.

Uploaded by

Allysa Nicole Diorec
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Job Costing

1) A cost is considered direct if it can be traced to a particular cost object in


a cost effective way which means it can be
A) traced easily with the aid of technology
B) traced in a manner that is accurate
C) traced in an economically feasible way
D) possibly traced accurately with an investment in hardware and software
Answer: C
2) A is anything for which a measurement of costs is desired.
A) cost-allocation base
B) cost pool
C) cost object
D) cost-application base
Answer: C
3) A is a grouping of individual indirect cost items.
A) cost-allocation base
B) cost assignment
C) cost pool
D) job-costing system
Answer: C
4) A manufacturer utilizes three separate indirect cost pools. Which of the
following is true?
A) Each indirect cost pool utilizes a separate cost-allocation rate
B) Each indirect cost pool is a subset of total direct costs B
C) Each indirect cost pool relates to multiple cost centers
D) Each indirect cost pool utilizes the same cost-allocation rate for all costs
incurred
Answer:A

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