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Chapter 27 - Job Order Cost Accounting
Chapter 27
Job Order Cost Accounting
1. There is no need to take a physical count of inventory periodically when the perpetual
inventory system is used.
2. Standard cost accounting may be used with either a job order cost system or a process cost
system.
27-6
16. A(n) ____________________ cost accounting system is normally used when standard
types of products are made in continuous operations.
17. A(n) ____________________ cost accounting system permits a firm to compare what its
costs should be with its actual costs in order to evaluate efficiency.
18. The entry to record applied overhead includes a(n) ____________________ to
Manufacturing Overhead Applied.
27-10
31. When perpetual inventories are maintained in a job order cost system, the balance of the
Work in Process Inventory account represents
32. A standard cost system may be used
