The accumulating, tracking, and assigning of production costs to the goods and services produced is called...
The accumulating, tracking, and assigning of production costs to the goods and services produced is called a
A. pricing system
B. managerial system
C.product costing system
D. manufacturing system
Homework Answers
C. product costing system
A product-costing system accumulates the costs incurred in a production process and assigns those costs to the organization’s final products.
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The accumulating, tracking, and assigning of production costs to
the goods and services produced is called...
QUESTION 11 The flow of costs in a job order cost system involves accumulating manufacturing costs...
QUESTION 11 The flow of costs in a job order cost system involves accumulating manufacturing costs incurred and assigning the accumulated costs to work done. cannot be measured until all jobs are complete measures product costs for a set time period. generally follows a LIFO cost flow assumption.
u services produced anyw O D. the value of all final goods and services produced dom...
u services produced anyw O D. the value of all final goods and services produced dom 2 Final goods or services used to compute GDP refer to: O A. the sum of all wages paid to laborers. O B. the factors of production used to produce output. O c. goods and services purchased by the ultimate users. 0 D, the value of outstanding shares of stock of manufacturing fir 3 The demand measure of GDP accounting adds together: A. wages...
Most goods and services produced at home a. and most goods and services produced illegally are...
Most goods and services produced at home a. and most goods and services produced illegally are included in GDP. b. are included in GDP while most goods and services produced illegally are excluded from GDP. bongo are excluded from GDP while most goods and services produced illegally are included in GDP d. and most goods and services produced illegally are excluded from GDP. ololololololololol
provides housecleaning services to its verhead costs. The company has provided services to its Chients. The...
provides housecleaning services to its verhead costs. The company has provided services to its Chients. The company uses has provided the following data The Coletti Cleaning Brigade Company provides housecleani an activity-based costing system for its overhead cos from its activity-based costing system. Total Cost Total Activity Activity Cost Pool $302,993 $43,100 hours Cleaning 79,100 Job Support 5,000 jobs 180 clients 3,348 Client Support 150,000 Other $535,441 Total The "Other activity cost pool consists of the costs of idle capacity...
Production and service work costs flow through an organizations' accounting system and work underway is tracked...
Production and service work costs flow through an organizations' accounting system and work underway is tracked in Work In Process accounts until it is completed. The various costs related to products and services are either inventoriable or period costs and are charged to the appropriate type of account. For each statement, enter the letter for the chosen response in the answer. Applied Overhead • Finished Good Inventory • Period Costs • Work In Process Inventory Each response can be used...
Exercise 2-37 Assigning Costs to a Cost Object, Direct and Indirect Costs Hummer Company uses manufacturing...
Exercise 2-37 Assigning Costs to a Cost Object, Direct and Indirect Costs Hummer Company uses manufacturing cells to produce its products (a cell is a manufacturing unit dedicated to the production of subassemblies or products). One manufacturing cell pro- duces small motors for lawn mowers. Suppose that the motor manufacturing cell is the cost object. Assume that all or a portion of the following costs must be assigned to the cell. a. Salary of cell supervisor b. Power to heat...
In a market system, who decides what goods and services are produced and how they are...
In a market system, who decides what goods and services are produced and how they are produced and who obtains the goods and services that are produced.
Costs are transferred from the balance sheet to the income statement as cost of goods sold...
Costs are transferred from the balance sheet to the income statement as cost of goods sold when A. direct materials, direct labor and manufacturing overhead are transferred to the beginning Work-in-Process Inventory account. B. the total of Cost of Goods Manufactured is determined. C. goods are transferred from the Work-in-Process Inventory account to the Finished Goods Inventory account. D. finished goods are sold. Which of the following companies is most likely to use process costing? A. a music studio B....
11) Which of the following statements is true? A) Final goods and services produced in Canada...
11) Which of the following statements is true? A) Final goods and services produced in Canada by foreigners are imports. B) Final good C) Final goods and services produced in Canada by foreigners s and services produced abroad by Canadians are part of Canadian GDP are part of the foreign country's GDP. D) Final goods and services produced in Canada by foreigners are part of Canada's GDIP. E) Final goods and services produced in Canada by foreigners are exports.
11) Which of the following statements is true? A) Final goods and services produced in Canada...
11) Which of the following statements is true? A) Final goods and services produced in Canada by foreigners are imports. B) Final good C) Final goods and services produced in Canada by foreigners s and services produced abroad by Canadians are part of Canadian GDP are part of the foreign country's GDP. D) Final goods and services produced in Canada by foreigners are part of Canada's GDIP. E) Final goods and services produced in Canada by foreigners are exports.
QUESTION 11 The flow of costs in a job order cost system involves accumulating manufacturing costs incurred and assigning the accumulated costs to work done. cannot be measured until all jobs are complete measures product costs for a set time period. generally follows a LIFO cost flow assumption.
u services produced anyw O D. the value of all final goods and services produced dom 2 Final goods or services used to compute GDP refer to: O A. the sum of all wages paid to laborers. O B. the factors of production used to produce output. O c. goods and services purchased by the ultimate users. 0 D, the value of outstanding shares of stock of manufacturing fir 3 The demand measure of GDP accounting adds together: A. wages...
Most goods and services produced at home a. and most goods and services produced illegally are included in GDP. b. are included in GDP while most goods and services produced illegally are excluded from GDP. bongo are excluded from GDP while most goods and services produced illegally are included in GDP d. and most goods and services produced illegally are excluded from GDP. ololololololololol
provides housecleaning services to its verhead costs. The company has provided services to its Chients. The company uses has provided the following data The Coletti Cleaning Brigade Company provides housecleani an activity-based costing system for its overhead cos from its activity-based costing system. Total Cost Total Activity Activity Cost Pool $302,993 $43,100 hours Cleaning 79,100 Job Support 5,000 jobs 180 clients 3,348 Client Support 150,000 Other $535,441 Total The "Other activity cost pool consists of the costs of idle capacity...
Production and service work costs flow through an organizations' accounting system and work underway is tracked in Work In Process accounts until it is completed. The various costs related to products and services are either inventoriable or period costs and are charged to the appropriate type of account. For each statement, enter the letter for the chosen response in the answer. Applied Overhead • Finished Good Inventory • Period Costs • Work In Process Inventory Each response can be used...
Exercise 2-37 Assigning Costs to a Cost Object, Direct and Indirect Costs Hummer Company uses manufacturing cells to produce its products (a cell is a manufacturing unit dedicated to the production of subassemblies or products). One manufacturing cell pro- duces small motors for lawn mowers. Suppose that the motor manufacturing cell is the cost object. Assume that all or a portion of the following costs must be assigned to the cell. a. Salary of cell supervisor b. Power to heat...
11) Which of the following statements is true? A) Final goods and services produced in Canada by foreigners are imports. B) Final good C) Final goods and services produced in Canada by foreigners s and services produced abroad by Canadians are part of Canadian GDP are part of the foreign country's GDP. D) Final goods and services produced in Canada by foreigners are part of Canada's GDIP. E) Final goods and services produced in Canada by foreigners are exports.
11) Which of the following statements is true? A) Final goods and services produced in Canada by foreigners are imports. B) Final good C) Final goods and services produced in Canada by foreigners s and services produced abroad by Canadians are part of Canadian GDP are part of the foreign country's GDP. D) Final goods and services produced in Canada by foreigners are part of Canada's GDIP. E) Final goods and services produced in Canada by foreigners are exports.
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