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Problem 18) 18) One side benefit of JIT is that: company A) the maintains more connections with suppliers since it uses more of B) it enables accountants to be measurement experts C) the accounting system is more complicated. D) the accounting system is simplified. 19) B) Cost of Goods Sold D) Raw Materials Inventory 19) When units are completed, the cost associated with the job is debited to which account? A) Finished Goods Inventory C) Work in Process Inventory 20) 20) The gross margin does not take into account: A) direct materials and direct labor. C) nonmanufacturing cost. D) manufacturing overhead. 21) 21) Which of the following would be used to record the labor cost that is traceable to a specific job? A) Raw Materials Inventory would be debited. B) Manufacturing Overhead would be debited. C) Manufacturing Overhead would be credited. D) Work in Process Inventory would be debited. 22) When units are completed, the cost associated with the job is credited to which account? A) Cost of Goods Sold C) Finished Goods Inventory B) Work in Process Inventory D) Raw Materials Inventory 23) When direct materials are used in production, which of the following accounts is D) Work in Process Inventory 24) Which of the following types of firms would most likely use process costing? debited? B) Raw Materials Inventory A) Cost of Goods Solod C) Finished Goods Inventory A) Sunshine Soft Drinks C) Crammond Custom Cabinets B) Jackson & Taylor Tax Service D) Superior Auto Body& Repair

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