Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Do all parts 18) Which of the following correctly describes just-in-time m inventory management? A) It is a cost management approach that focuses on maintaining

Do all parts image text in transcribed
18) Which of the following correctly describes just-in-time m inventory management? A) It is a cost management approach that focuses on maintaining lean inventory levels. B) It is an inventory approach which stockpiles raw materials to protect against supply interruptions. Q) It is an inventory purchase approach that seeks purchase discounts on buying large quantities D) It is a production approach that maintains surplus goods at each stage of manufacture. 19) Which of the following correctly describes the accounting for factory depreciation? 9) A) Factory depreciation is a period cost and is expensed as incurred. B) Factory depreciation is a period cost and is expensed when the manufactured product is sold. ) Factory depreciation is a product cost and is expensed when the manufactured product is sold D) Factory depreciation is a product cost and is expensed as incurred 20) Crystal Inc. is a merchandiser of stone ornaments. The company sold 15,000 units in 2015. The company has provided the following information: $557,000 300,000 69,000 15,000 5,000 55,700 Sales Revenue Freight In Ending Merchandise Inventory What is the operating income for 2015? B) $257,000 D) $183,700 A) $252,700 C) $304,300 21) You did not understand what the term accrual meant and failed to accrue the interest due at the 21) end of the year on the company's bonds. Which of the IMA standards appears to have beer violated here? A) confidentiality B) integrity C) competence D) objectivity 22) A corporation used $35,000 of direct materials, incurred $73,000 in direct labor cost, and $114,000 in 22) manufacturing overhead costs during the period. What is the cost of goods manufacture if the beginning and ending Work-in-Process Inventories were $28,000 and $21,000, respectively? A) $215,000 B) $222,000 C) $250,000 D) $229,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Client Acceptance And Retention Decisions Of Audit Firms In Nigeria

Authors: Richard Iyere Oghuma

1st Edition

6138946715, 978-6138946717

More Books

Students also viewed these Accounting questions