Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The dual-rate cost-allocation method classifies costs in each cost pool into a: a. budgeted-cost pool and an actual-cost pool b. direct-cost pool and a reciprocal-cost

The dual-rate cost-allocation method classifies costs in each cost pool into a:

a. budgeted-cost pool and an actual-cost pool

b. direct-cost pool and a reciprocal-cost pool

c. used-capacity-cost pool and a practical-capacity-cost pool

d. variable-cost pool and a fixed-cost pool

XYZ Company uses job costing system. The appropriate journal entry if direct materials of $50,000 and indirect materials of $3,000 are sent to the manufacturing plant floor?

a. Work-in-Process Control debit $53,000 and Materials Control credit $53,000.

b. Work-in-Process Control debit $50,000 and Materials Control credit $50,000.

c. Work-in-Process Control debit $50,000, Manufacturing Overhead Control debit $3,000 and Materials Control credit $53,000.

d. Manufacturing Overhead Control debit $3,000, Materials Control debit $50,000 and Work-in-Process Control credit $53,000.

United Company blends and sells two products X&Y. each with different sales strategies, distribution channels, and product offerings. United is now considering the sale of a bundled product consisting of X&Y. For the most recent year, United reported retail price of X product $192, of Y product $448 and of (X+Y) $520. Using stand-alone revenue allocation method, the revenue allocated to X product is:

a. $364.

b. $448.

c. $192.

d. $156.

Please please, I don't have enough time, help me

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

Step: 3

blur-text-image

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

GAO Financial Audit Manual Volume 2 Updated March 2021

Authors: United States Government GAO

2021 Edition

B091WM9DZW, 979-8733082875

More Books

Students also viewed these Accounting questions

Question

What is meant by institutional school of responsibility? Explain.

Answered: 1 week ago