Why is cost accumulation easier in a process costing system than it is in a job-order costing
Question:
Why is cost accumulation easier in a process costing system than it is in a job-order costing system?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
Cost accumulation is simpler under process costing because ...View the full answer
Answered By
PU Student
cost accounting
financial accounting
auditing
internal control
business analyst
tax
i have 3 years experience in field of management & auditing in different multinational firms. i also have 16 months experience as an accountant in different international firms. secondary school certification.
higher secondary school certification.
bachelors in mathematics.
cost & management accountant
4.80+
4+ Reviews
10+ Question Solved
Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Question Posted:
Students also viewed these Managerial Accounting questions
-
Why is cost accumulation simpler in a process costing system than it is in a job-order costing system?
-
Bob has wealth of 100 and wants to invest it. There are two assets: a safe asset and a risky asset. If Bob invests his 100 in the safe asset, he will end up with 100. If Bob invests his 100 in the...
-
Why is cost accumulation imprecise?
-
a) What would be the third term? What would be the next to last term? What would be the last term? b) What would be the second term? What would be the next to last term? What would be the last term?...
-
An instructor wanted to know the relationship between his review sessions and passing the final exam. He recorded whether students attended his review session and whether they passed the final exam....
-
After going public in 1992, Starbucks strong balance sheet and double-digit growth made it a hot growth stock. The Starbucks vision was coffee culture as community, the Third Place between work and...
-
The Longo Corporation issued \(\$ 50\) million maturity value of six percent coupon rate bonds, with interest paid semiannually. At the time of the bond issuance, equivalent risk-rated debt...
-
Carolyn Keene, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April. 1. On April...
-
Consider the following expected returns, volatilities, and correlations: The expected return of a portfolio if 40% is invested in Duke Energy and 60% is invested Microsoft is closest to ________. The...
-
Olathe Company exchanges old delivery equipment for new delivery equipment. The book value of the old delivery equipment is $31,000 (cost $61,000 less accumulated depreciation $30,000). Its fair...
-
In what ways are job-order and process costing similar?
-
Assume that a company has two processing departments-Mixing and Firing. Prepare a journal entry to show a transfer of partially completed units from the Mixing Department to the Firing Department?
-
The percentages of tax returns in which individuals donated money to presidential elections by checking off boxes (for $1, $2, $3, or $6) on tax returns are shown in Table 66 for various years. Let p...
-
Define solvency and profitability. How are they alike? b. Selected data from the Carmen Company at year end are presented below: Total assets $2,000,000 Average total assets 2,200,000 Net income...
-
Dowling Sportswear is considering building a new factory to produce aluminum baseball bats. This project would require an initial cash outlay of $8,000,000 and would generate annual net cash inflows...
-
On his way home from a long day of work, Angel Polonia, a thirty-five-year-old software engineer, stopped at the bar at an upscale hotel to unwind. At the bar, Mr. Polonia ordered a margarita and a...
-
If an independent third party valued your project at $1,000,000 and you are requesting an $800,000 loan, what is the loan-to-value ratio? What are the chances of this loan being approved? What is the...
-
1: Your goal is to have $95327. If you can earn 11.19% per year and you invest $14366 today, how many years until you reach your goal? 2: Suppose that 2 years ago you bought an old record player...
-
Retune the proportional controller of Experiment 6 A with the power converter bandwidth set to 100 Hz. Use the criteria of Chapter 6 (no overshoot for proportional gain, etc.). Measure the overshoot,...
-
Critical reading SAT scores are distributed as N(500, 100). a. Find the SAT score at the 75th percentile. b. Find the SAT score at the 25th percentile. c. Find the interquartile range for SAT scores....
-
How comfortable do YOU feel about working in virtual teams? To what extent do you believe absence of group dynamics and social interactions reduce the effectiveness of virtual teams?
-
List three quantitative non financial measures of performance in a manufacturing organization of your choice.
-
List three quantitative non financial measures of performance in a service organization of your choice.
-
List three qualitative measures of performance.
-
Mary Canfield purchased the All-Canadian Compound bond fund. While this fund doesn't charge a front-end load, it does charge a contingent deferred sales load of 2.5 percent for any withdrawals in the...
-
What is the value of a call option at expiration? use an * * appropriate graph * * to show the profit and loses of the buyer and seller of a call option.
-
You have been asked by the president of your company to evaluate the proposed acquisition of new equipment.The equipment's basic price is RM193000, and shipping costs will be RM7700.It will cost...
Study smarter with the SolutionInn App