14.Which of the following costs isnotrelated to a batch-related activity? Show
Get answer to your question and much more 15.For the purposes of allocating joint costs to joint products, the sales price at the point of sale, reduced by the cost tocomplete after split-off, is assumed to be equal to the: (CPA adapted)total costs.joint costs.sales price less a normal profit margin at point of sale.relative sales value at split-off.This is an estimate of the sales value at split-off. 16.Haberdashery Company has a beginning Work-in-Process Inventory of 25,000 units (40% complete). During theperiod, 110,000 units were started and the ending Work-in-Process Inventory consisted of 20,000 units (80%complete). What are the equivalent units for conversion costs using weighted-average process costing? Get answer to your question and much more 17.Estimated manufacturing overhead for the year$30,000Estimated direct labor hours for the year2,000Two jobs were worked on during the year: Job A-101 and Job A-102. The number of direct labor-hours spent on JobA-101 and Job A-102 were 1,200 and 1,000, respectively. The actual manufacturing overhead was $37,000.What is the amount of the under- or overapplied manufacturing overhead? Get answer to your question and much more  Horngren'S Financial And Managerial AccountingBook edition 6th Author(s) Tracie L. Miller-Nobles, Brenda L. Mattison Pages 992 pages ISBN 9780134486833 Answers without the blur.Just sign up for free and you're in. Short Answer
Distinguishing between job order costing and process costingWould the following companies most likely use job order costing or process costing?f. A custom home builder
A custom home builder is most likely to use a job-order costing system. See the step by step solution Step by Step SolutionCosting of the productCosting is defined as the total expenses incurred by the company in producing the product or service. It is determined by the management of the company to decide the selling price of the product. Custom home buildersCustom home builders work on a contract basis and manufacture the building according to the customer's demand. Hence, they use the job order costing system to determine the project's total cost. Step 1: Job order costing systemJob order costing system is a system that take place when customers order small, unique batches of goods produced by the companies. Printing shops, caterer, etc., use the job order costing system. Step 2: Process costing systemProcess costing system are used in the manufacturing industries to determine the total production cost for each unit of products. Paint manufacturer, yacht builder, soft drink bottler, etc., use the process costing system. Requirement 2. Classify Lawlor's costs as period costs or product costs. If the costs are product costs, further classify as direct materials, direct labor, or manufacturing overhead. 1. Shaft and handle of weed trimmer 2. Motor of weed trimmer 3. Factory labor for workers assembling weed trimmers 4. Nylon thread used by the weed trimmer (not traced to the product) 5. Glue to hold housing together 6. Plant janitorial wages 7. Depreciation on factory equipment 8. Rent on plant 9. Sales commissions 10. Administrative salaries 11. Plant utilities 12. Shipping costs to deliver finished weed trimmers to customers Which company would most likely use job order costing?Law firms and accounting businesses
Since lawyers and accountants work with different clients on unique accounts, many will use a job order costing system to track how much time and resources were used for each customer.
Which types of companies would use job costing rather than process costing Why?Industries that produce unique or custom orders for individual customers, including retail companies and hospitals, typically use job order costing. Industries that produce large amounts of a single product or similar products, such as manufacturers of a single product, typically use process costing.
Which type of companies use job order costing method?Companies in the white collar sector of business, including law firms, accounting businesses and private investment companies, can utilize job order costing to manage individual client accounts. For example, accounting firms can consider each individual client a job.
When shall the Job order costing be used instead of process costing?Job costing is used for very small production runs, and process costing is used for large production runs.
|
Which of the following companies would most likely use job order costing instead of process costing?
zusammenhängende Posts
Urheberrechte © © 2024 nguoilontuoi Inc.
