Can standard costing be used in job-order costing? If so, what conditions must exist? If not, explain

Question:

Can standard costing be used in job-order costing? If so, what conditions must exist? If not, explain why.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Managerial Accounting

ISBN: 978-0073379586

2010 Edition

Authors: John J. Wild, Ken W. Shaw

See More Books

Question Posted: Aug 05, 2013 03:30 AM

See More Questions

What conditions must exist to achieve accurate short-run pricing decisions using variable costing?
What conditions must exist for a negative differential to occur?
How can standard costing be used when ABC has been implemented?
Find RL for maximum power transfer and the maximum power that can be transferred to the load in the circuit in figure. 1 mA 1 kn 2 mA RL 0.5 kn 1 kn 2 mA +)6 V
Can you think of techniques other than an unordered overflow file that can be used to make insertion in an ordered file more efficient?
Reid Company is considering the production of a new product. The expected variable cost is $27 per unit. Annual fixed costs are expected to be $810,000. The anticipated sales price is $72 each....
Which sociocultural factors have informed McDonalds global expansion? MCDONALDSA GLOBAL GIANT From the Maharaja Mac in India to the Prosperity Burger prepared especially for Chinese New Year...
On June 3, Arnold Limited sold to Chester Arthur merchandise having a sale price of $3,000 with terms 3/10, n/60, f.o.b. shipping point. A $90 invoice, terms n/30, was received by Chester on June 8...
Investing for Retirement Financial advisors offer many types of advice to customers, but they generally agree that one of the best things people can do is invest as much as possible in tax - deferred...
Word processor for blind people: A word processor for blind users is needed, which can also be operated by sighted people. It has to support the standard set of word-processing tasks. Choose a...
Compare and contrast job-order and process costing systems.
List and explain the six steps of cost assignment when using process costing. How does cost assignment differ between the weighted average and FIFO methods?
In plants, each cell consists of a box-like _________________________ surrounding a mass of _______________, which in turn contains its own smaller parts, the __________________________.
Find the unknown angle measures. 49 60 Drawing is not to scale. I = y = In S
Q5 For this question, use data from only restaurants with between 50 and 60 items in the data set. Predict total fat from cholesterol, total carbs, vitamin a, and restaurant. Remove any...
A meteorologist believes that there is a relationship between the daily mean windspeed, w kn, and the daily mean temperature, t C. A random sample of 9 consecutive days is taken from past records...
Suppose k(x) = f(g(h(x))). Given the table of values below, determine k' (1). g(x) h(x) f'(x) g'(x) h'(x) x f(x) 1 -6 -3 3 6 -6 -6 3 -3 4 1 -7 -2 5 4 -2 7 3 1 -7 -8
In a research study women with metastatic stomach cancer responded to the Symptom Distress Scale and the Profile of Mood States. A correlation coefficient was reported: r = 0.5, p = 0.03. How would...
Assign the percentages 10%, 20%, 30%, 40%, and 50% to the following: U.S. taxes, U.S. federal taxes, U.S. state and local taxes, OECD taxes, and Scandinavian taxes.
You continue to work in the corporate office for a nationwide convenience store franchise that operates nearly 10,000 stores. The per- store daily customer count (i.e., the mean number of customers...
Review potential avenues for addressing the difficulties associated with human resource planning in order to enhance its operational viability.
(a) What is cost behavior analysis? (b) Why is cost behavior analysis important to management?
(a) Jenny Kent asks your help in understanding the term activity index. Explain the meaning and importance of this term for Jenny. (b) State the two ways that variable costs may be defined.
A. J. Hernandez claims that the relevant range concept is important only for variable costs. (a) Explain the relevant range concept. (b) Do you agree with A. J.s claim? Explain.
ABC company makes turbo-encabulators, customized to satisfy each customers order. They split overhead into five pools, each with its own activity driver (direct labor for manufacturing, direct labor...
Variable manufacturing overhead becomes part of a unit's cost when variable costing is used.Group of answer choicesTrueFalse
Santa Fe Corporation has computed the following unit costs for the year just ended:Direct Material used $23Direct Labor $18Fixed selling and administrative cost $18Variable manufacturing overhead...

Can standard costing be used in job-order costing? If so, what conditions must exist? If not, explain

Question:

Step by Step Answer:

Computation of the following Yes standard costing ...View the full answer

Managerial Accounting

Students also viewed these Managerial Accounting questions