11. Depending on the product being manufactured, companies use either a process or job-order costing system....
11. Depending on the product being manufactured, companies use either a process or job-order costing system. Please determine which type of costing system that the following companies would use: Process Job-Order
a. Coca-Cola bottling soda
b. A paper mill
c. An advertising agency
d. A paper clip manufacturer
e. Boeing making a jet
f. An auto repair shop
Homework Answers
| Coca cola bottling | Process costing |
| Paper mill | Process costing |
| Advertising agency | job order costing |
| Paper clip | process costing |
| Boeing making | process costing |
| Auto repair shop | job order costing |
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11. Depending on the product being manufactured, companies use
either a process or job-order costing system....
Which type of cost system, process or job order, would be best suited for each of...
Which type of cost system, process or job order, would be best suited for each of the following (Give reasons for your answers): TV assembler building contractor automobile repair shop paper manufacturer custom jewelry manufacturer?
When are companies likely to use a job costing system or process costing system? Describe the...
When are companies likely to use a job costing system or process costing system? Describe the specific characteristics of each system and provide at least 2 examples from companies in your community for each system (at least 4 companies should be described).
For which of the following products would a job-order costing system be appropriate? a.Steel plant which...
For which of the following products would a job-order costing system be appropriate? a.Steel plant which makes one type of steel. b.Door and window manufacturer making products like individual windows for houses. c.Cement plant where a single identical type of cement product is manufactured. d.Soft drink bottling plant where each type of soft drink is produced in a separate batch.
For which of the following products would a job-order costing system be appropriate? Steel plant which...
For which of the following products would a job-order costing
system be appropriate?
Steel plant which makes one type of steel.
Door and window manufacturer making products like individual
windows for houses.
Cement plant where a single identical type of cement product is
manufactured.
Soft drink bottling plant where each type of soft drink is
produced in a separate batch.
3. Would the following companies likely use job-order or process costing? Synthetic rubber manufacturer - Contract...
3. Would the following companies likely use job-order or process costing? Synthetic rubber manufacturer - Contract well driller: Manufacturer of duct tape: -Concrete contractor Freelance videographer: Law firm: - Breakfast cereal manufacturer: CPA firm conducting large audits:
Match each business that follows to the type of costing system (a or b) it would...
Match each business that follows to the type of costing system (a or b) it would typically use. Clear All Home construction Gasoline refinery Job order costing Flour mill Process costing Movie studio Paper manufacturer
Match each costing system characteristic to job order costing, process costing, or both. Used by companies...
Match each costing system characteristic to job order costing, process costing, or both. Used by companies that manufacture identical items through a series of 1. 2 3. uniform production steps or processes Transfers costs from Work-in-Process Inventory to Finished Goods Inventory to Cost of Goods Sold Used by companies that manufacture unique products or provide specialized services Has multiple Work-in-Process Inventory accounts Tracks direct materials, direct labor, and manufacturing overhead costs 4. 5.
Match each business that follows to the type of costing system (a or b) it would...
Match each business that follows to the type of costing system (a or b) it would typically use. a. Job order costing b. Process costing 14. Movie studio 15. Gasoline refinery 16. Home construction 17. Paper manufacturer 18. Flour mill
3. 6. Job order system is similar to process costing system Except: a. Use of job...
3. 6. Job order system is similar to process costing system Except: a. Use of job sheet b. computation of unit cost c. presentation of cost of goods manufactured d. all of the above e. none of the above. 7. The IMA's standard of professional ethics Includes: a. honesty b. competence c. confidentiality d. all of the above e. Only b and above. 8. Direct Materials are essential as: a. Primary element of production b. A part of product cost...
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What are the major differences between job-order costing and process costing systems? Give an example of a well-known company that might use job-order costing and an example of a well-known company that might use process costing. Explain why you have chosen the companies that you did, specifically why job order costing or process costing are used. *** You are also required to name a company that uses both costing methods, including providing an explanation of your choice. A great place...
For which of the following products would a job-order costing
system be appropriate?
Steel plant which makes one type of steel.
Door and window manufacturer making products like individual
windows for houses.
Cement plant where a single identical type of cement product is
manufactured.
Soft drink bottling plant where each type of soft drink is
produced in a separate batch.
3. Would the following companies likely use job-order or process costing? Synthetic rubber manufacturer - Contract well driller: Manufacturer of duct tape: -Concrete contractor Freelance videographer: Law firm: - Breakfast cereal manufacturer: CPA firm conducting large audits:
Match each business that follows to the type of costing system (a or b) it would typically use. Clear All Home construction Gasoline refinery Job order costing Flour mill Process costing Movie studio Paper manufacturer
Match each costing system characteristic to job order costing, process costing, or both. Used by companies that manufacture identical items through a series of 1. 2 3. uniform production steps or processes Transfers costs from Work-in-Process Inventory to Finished Goods Inventory to Cost of Goods Sold Used by companies that manufacture unique products or provide specialized services Has multiple Work-in-Process Inventory accounts Tracks direct materials, direct labor, and manufacturing overhead costs 4. 5.
3. 6. Job order system is similar to process costing system Except: a. Use of job sheet b. computation of unit cost c. presentation of cost of goods manufactured d. all of the above e. none of the above. 7. The IMA's standard of professional ethics Includes: a. honesty b. competence c. confidentiality d. all of the above e. Only b and above. 8. Direct Materials are essential as: a. Primary element of production b. A part of product cost...
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