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1-Job-order costing is used when products aued specially produced. T 2-Normal costing is a system which uses estimated direst materials, actual direct labor and a
1-Job-order costing is used when products aued specially produced. T 2-Normal costing is a system which uses estimated direst materials, actual direct labor and a predetermined overhead rate. 3-A materials requisition form is a document that is used to record the amount of materials that are being used in work in process. 4-Prevention costs are costs that are incurred to keep defects from occurring. S-Opportunity costs are costs that are incurred when one alternative is chosen over another. 6- Decision making is the process of establishing goals and specifying how to achieve them 7-Cognitive biases cannot be climinated 8- Financial Accounting is based on historical costs. 9-Qualty Training is an internal failure cost 10-Factory supervisors salaries is a period cost. 11-A product that has a low rate of defects is said to have a low Quality of conformance 12SIn many companies, small groups of employees known as the audit committee meet on a regular basis to discuss ways to improve quality 13-When a product that is defective is delivered to a customer external failure costs are incurred. 14-Of the four groups of costs associated with quality of conformance, prevention costs are-r generally most damaging to a company
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