With process costing, the need to distinguish between direct and indirect materials and labour is not as
Question:
‘With process costing, the need to distinguish between direct and indirect materials and labour is not as important as in the case of a job order costing system.’ Discuss this statement.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
A cost of production report is designed to show the total costs of production fo...View the full answer
Answered By
Anthony Ngatia
I have three academic degrees i.e bachelors degree in Education(English & Literature),bachelors degree in business administration(entrepreneurship option),and masters degree in business administration(strategic management) in addition to a diploma in business management.I have spent much of my life in the academia where I have taught at high school,middle level colleges level and at university level.I have been an active academic essays writer since 2011 where I have worked with some of the most reputable essay companies based in Europe and in the US.I have over the years perfected my academic writing skills as a result of tackling numerous different assignments.I do not plagiarize and I maintain competitive quality in all the assignments that I handle.I am driven by strong work ethics and a firm conviction that I should "Do Unto others as I would Like them to do to me".
4.80+
76+ Reviews
152+ Question Solved
Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
Question Posted:
Students also viewed these Business questions
-
Describe the flow of costs in a job order cost accounting system. Use a relevant example to illustrate your answer.
-
Identify and discuss any professional conduct issues in the following independent scenarios. a. Jason Crane became a CPA in 2020. He is now glad to be finished his education as he does not plan to...
-
Gold Explorers Inc. is a major Canadian gold mining corporation. Gold Explorers has mines and development projects in Canada (Northern Ontario and British Columbia), the United States, and South...
-
Please watch the video link and answer the following questions. https://youtu.be/VtvjbmoDx-I On January 22,1984, Apple produced one of the most famous Super Bowl ads of all time. Directed by Ridley...
-
Cloud Productivity Inc. uses flexible budgets that are based on the following data: Prepare a flexible selling and administrative expenses budget for March 2016 for sales volumes of $400,000,...
-
Between 2000 and 2016, the estimated population of metro Chicago, Illinois, grew from 9,098,316 to 9,512,999. What was the percent increase to the nearest tenth?
-
and a standard deviation of s = .15. a. Find and interpret a 95% confidence interval for m, the mean facial WHR for all CEOs at publicly traded Fortune 500 firms. b. The researchers found that CEOs...
-
OConnor Companys income statement information for 2016 and 2017 (a sole proprietorship) is as follows: Required: Provide the missing amounts for the blanks labeled (a) through (g). All the necessary...
-
Required 2
-
The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2020. Account Title Debits Credits Cash 5,800 Accounts receivable 2,800 Inventory 5,800...
-
Why is it important to assign costs to equivalent units when such units do not really exist in a physical form?
-
`If you order a vehicle with special features from a large motor vehicle manufacturer then it is possible to track the production of your vehicle online so that you know when the manufacturer began...
-
Analyze and report investments in controlling interests, p. 614 LO1
-
1. Identify areas of difference that could potentially cause conflict between line managers in the United States and their employees who are natives of the locales in which they work (e.g. paid leave...
-
In organizational behavior, understanding the factors that predict organizational performance is crucial for managers and researchers. Numerous theories and studies have attempted to shed light on...
-
What emotional triggers or psychological biases influence consumer decision-making in our industry, and how can we leverage them in our marketing campaigns?
-
The most abundant protein on Earth, Rubisco, is a 530,000.0 g/mol enzyme involved in photosynthesis. You dissolve 33.568 g of Rubisco in 250 ml of water at 25.0 C. Assume the mixture behaves as an...
-
This week you studied about Organizational Development interventions. Proposed Intervention: Detail and explain the type of intervention (individual, team, or organizational) that is warranted for...
-
A 1200 kg airplane starts from rest and, with a constant acceleration of magnitude 5.0 m/s 2 , reaches its takeoff speed in 9.00 s. (a) What is the magnitude of the net force on the airplane during...
-
The slopes of the tangents at the points where the curve y = x2 - 4x intersects the X-axis is 1) 1 2) +2 3) +3 4) +4
-
(Transaction AnalysisService Company) Beverly Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred....
-
(Transaction AnalysisService Company) Beverly Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred....
-
(Transaction AnalysisService Company) Beverly Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred....
-
Only need help on 4B and 5. Exercise 9-21 Breakeven Planning; Profit Planning (LO 9-2, 9-3] Connelly Inc., a manufacturer of quality electric ice cream makers, has experienced a steady growth in...
-
A project with an initial cost of $32,000 is expected to provide cash flows of $12,900, $13,100, $16,200, and $10,700 over the next four years, respectively. If the required return is 8.1 percent,...
-
A company that is expecting to receive EUR 500,000 in 60 days is considering entering into an FX futures contract to lock an exchange rate to USD for the transaction. The FX rate on the contract is...
Study smarter with the SolutionInn App