Help clarify whether the following items are "Job order operation:" or "Process Operation"
Homework Answers
A) low product standardization = job costing because each order is customized.
B) high product flexibility = process costing
C) high production volume = process costing
D) custome order = job costing
E) low product flexibility = job costing
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Help clarify whether the following items are "Job order
operation:" or "Process Operation"
Indicate each item...
I need help with the whole question with a solution and explanation Please and Thank you....
I need help with the whole question with a solution and
explanation Please and Thank you.
Chapter 15 Homework Saved Help Save & Exit Submit Check my work Indicate each item a through e below as a feature of either a job order or process operation. 4.44 points a. High production volume b. High product flexibility c. High standardization d. Custom orders e. Low product flexibility eBook Print References
QUICK STUDY a connect For each of the following products and services, indicate whether it is...
QUICK STUDY a connect For each of the following products and services, indicate whether it is more likely produced in a process operation Por in a job order operation ) 1. Tennis courts - 3. Audit of financial statements 5. Vanilla ice cream 2. Organic juice 4. Luxury yachts _6. Tennis halls OS 20-1 Process vs. job order operations C1 QS 20-2 Process vs job order costing Label each statement below as either true (T) or false (F). 1. The...
2. For each of the following manufacturing situations, indicate whether job order or process costing is...
2. For each of the following manufacturing situations, indicate whether job order or process costing is more appropriate and why. Job order or process costing? Company descriptions Why? Manufacturer of chocolate candy bars Manufacturer of carbonated beverages Manufacturer of high-quality men's suits Manufacturer of subway cars Printer of a variety of history books
Job Costing Versus Process Costing. Indicate whether each of the firms listed in the following would...
Job Costing Versus Process Costing. Indicate whether each of the firms listed in the following would use job costing or process costing. Dairy farm Builder of pools Candy bar producer Legal firm Upholstery repair shop Sports drink producer Toner cartridge producer Custom home builder
For each of the items below, indicate whether it is (1) a cash flow from an...
For each of the items below, indicate whether it is (1) a cash flow from an operating activity, (2) a cash flow from an investing activity, (3) a cash flow from a financing activity, (4) a noncash investing and financing activity, or (5) none of the above. a. Paid cash to retire bonds payable at a loss. b. Received cash as settlement of a lawsuit. c. Acquired a patent in exchange for common stock. d. Received advance payments from customers...
For each of the following items, indicate whether that item would be considered to be a...
For each of the following items, indicate whether that item would be considered to be a transaction at Gerbig Pet Grooming Corporation Transaction? Item A customer, Layne Gracen, glves Gerbig a check for $620 to prepay for her dog's grooming appointments for the upcoming year. Gerbig pays $310 for last month's electric bill. Gerbig selects a new supplier for its shampoos and conditioners. The controller for Gerbig pays the bill for a catered lunch at its annual training event for...
Classification of Cash Flows For each of the items below, indicate whether the cash flow item...
Classification of Cash Flows For each of the items below, indicate whether the cash flow item relates to an operating activity, an investing activity, or a financing activity: a. Cash receipts from customers for services rendered b. Sale of long-term investments for cash c. Acquisition of plant assets for cash d. Payment of income taxes LO1 E13-1A. Chapter 13 Statement of Cash Flows e. f. 8. Bonds payable issued for cash Payment of cash dividends declared in previous year Purchase...
Reflective Simulation: Please indicate for each of the following items whether it falls under direct material...
Reflective Simulation: Please indicate for each of the following items whether it falls under direct material direct labor, or factory overhead. 1. If it is a direct material, put "yes" under direct material and "No" under direct labor 2. Tell whether each item belongs to product cost or period cost. If it is a product cost, 3. Indicate whether each item is a variable cost or fixed cost. If it is a variable cost, put and factory overhead and so...
Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable...
Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U). Item Budget Actual Variance For U Sales price $400 $390 Sales revenue $360,000 $390,000 $ 192,500 $180,000 Cost of goods sold Material purchases at 5,000 pounds $137,500 $140,000 Materials usage $90,000 $89,000 Production volume 950 units 900 units Wages at 4,000 hours $30,000 $29,350 Labor usage at $12 per hour $48,000 $48,500 Research and development expense $11,000 $12,500 Selling and administrative expenses $24,500...
Indicate whether each of the following items should be classified as an operating, investing, or financing activity on...
Indicate whether each of the following items should be classified as an operating, investing, or financing activity on the statement of cash flows. If an item does not belong on the statement, indicate as "NA" (Not applicable). a. Declaration of dividends on common shares, to be paid later b. Payment of dividends on common shares c. Purchase of equipment d. Receipt of cash from the sale of a warehouse e. Receipt of cash through a long-term bank loan f. Interest...
I need help with the whole question with a solution and
explanation Please and Thank you.
Chapter 15 Homework Saved Help Save & Exit Submit Check my work Indicate each item a through e below as a feature of either a job order or process operation. 4.44 points a. High production volume b. High product flexibility c. High standardization d. Custom orders e. Low product flexibility eBook Print References
QUICK STUDY a connect For each of the following products and services, indicate whether it is more likely produced in a process operation Por in a job order operation ) 1. Tennis courts - 3. Audit of financial statements 5. Vanilla ice cream 2. Organic juice 4. Luxury yachts _6. Tennis halls OS 20-1 Process vs. job order operations C1 QS 20-2 Process vs job order costing Label each statement below as either true (T) or false (F). 1. The...
2. For each of the following manufacturing situations, indicate whether job order or process costing is more appropriate and why. Job order or process costing? Company descriptions Why? Manufacturer of chocolate candy bars Manufacturer of carbonated beverages Manufacturer of high-quality men's suits Manufacturer of subway cars Printer of a variety of history books
For each of the following items, indicate whether that item would be considered to be a transaction at Gerbig Pet Grooming Corporation Transaction? Item A customer, Layne Gracen, glves Gerbig a check for $620 to prepay for her dog's grooming appointments for the upcoming year. Gerbig pays $310 for last month's electric bill. Gerbig selects a new supplier for its shampoos and conditioners. The controller for Gerbig pays the bill for a catered lunch at its annual training event for...
Classification of Cash Flows For each of the items below, indicate whether the cash flow item relates to an operating activity, an investing activity, or a financing activity: a. Cash receipts from customers for services rendered b. Sale of long-term investments for cash c. Acquisition of plant assets for cash d. Payment of income taxes LO1 E13-1A. Chapter 13 Statement of Cash Flows e. f. 8. Bonds payable issued for cash Payment of cash dividends declared in previous year Purchase...
Reflective Simulation: Please indicate for each of the following items whether it falls under direct material direct labor, or factory overhead. 1. If it is a direct material, put "yes" under direct material and "No" under direct labor 2. Tell whether each item belongs to product cost or period cost. If it is a product cost, 3. Indicate whether each item is a variable cost or fixed cost. If it is a variable cost, put and factory overhead and so...
Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U). Item Budget Actual Variance For U Sales price $400 $390 Sales revenue $360,000 $390,000 $ 192,500 $180,000 Cost of goods sold Material purchases at 5,000 pounds $137,500 $140,000 Materials usage $90,000 $89,000 Production volume 950 units 900 units Wages at 4,000 hours $30,000 $29,350 Labor usage at $12 per hour $48,000 $48,500 Research and development expense $11,000 $12,500 Selling and administrative expenses $24,500...
Indicate whether each of the following items should be classified as an operating, investing, or financing activity on the statement of cash flows. If an item does not belong on the statement, indicate as "NA" (Not applicable). a. Declaration of dividends on common shares, to be paid later b. Payment of dividends on common shares c. Purchase of equipment d. Receipt of cash from the sale of a warehouse e. Receipt of cash through a long-term bank loan f. Interest...
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