Which product costing system would be better for custom-order products? Company costing system = A Product...
Which product costing system would be better for custom-order products?
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Company costing system = A |
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Product costing system = B |
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Overhead costing system = C |
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Job costing system =D |
Homework Answers
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Option D is the answer Job order costing has to be used when the jobs are distinct from each other and each of them has to be accounted for seperately Comment if you face any issues |
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Which product costing system would be better for custom-order
products?
Company costing system = A
Product...
1. LO 41 Which of the following product situations is better suited to job order costing...
1. LO 41 Which of the following product situations is better suited to job order costing than to process conting? A Each product batch is exactly the same as the prior batch B. The costs are easily traced to a specific product. C. Costs are accumulated by department D. The value of work in process is based on assigning standard costs. 2. LO 41 A job order costing system is most likely used by which of the following? A. a...
Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system...
Dillon Products manufactures various machined parts to customer
specifications. The company uses a job-order costing system and
applies overhead costs to jobs on the basis of machine-hours. At
the beginning of the year, the company used a cost formula to
estimate that it would incur $4,170,000 in manufacturing overhead
cost at an activity level of 556,000 machine-hours. The company
spent the entire month of January working on a large order for
8,900 custom made machined parts. The company had no...
Genex Company produces custom robots for industrial applications. The company uses a job order costing system....
Genex Company produces custom robots for industrial applications. The company uses a job order costing system. Its plant has three production departments: molding, finishing, and assembly. The estimated manufacturing overhead cost and direct labor cost for each department for 2020 follow: Molding Finishing Assembly Manufacturing Overhead cost $800,000 $600,000 $100,000 Direct labor cost $200,000 $300,000 $500,000 In May 2020, the company received an invitation from DeLong Manufacturing Company to bid on an order of three custom robots...
Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system...
Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system and applies overhead costs to jobs on the basis of machine-hours. At the beginning of the year, the company used a cost formula to estimate that it would incur $4,177,500 in manufacturing overhead cost at an activity level of 557,000 machine-hours. The company spent the entire month of January working on a large order for 8,400 custom made machined parts. The company had no...
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.
Which of the following is not a characteristic of a job order costing system? a. It...
Which of the following is not a characteristic of a job order costing system? a. It provides a separate record for the cost of each quantity of product that passes through the factory. b. It accumulates cost for each department within the factory. c. It uses only one work in process account d. It is best suited for industries that manufacture custom goods.
) Genex Company produces custom robots for industrial applications. The company uses a job order costing...
) Genex Company produces custom robots for industrial applications. The company uses a job order costing system. Its plant has three production departments: molding, finishing, and assembly. The estimated manufacturing overhead cost and direct labor cost for each department for 2020 follow: Molding Finishing Assembly Manufacturing Overhead cost $800,000 $600,000 $100,000 Direct labor cost $200,000 $300,000 $500,000 In May 2020, the company received an invitation from DeLong Manufacturing Company to bid on an order of three custom...
A business that makes custom chairs would use what kind of costing system? Group of answer...
A business that makes custom chairs would use what kind of costing system? Group of answer choices partial costing process costing job order costing custom design costing
Which of the following companies would be the least likely to use a job order costing...
Which of the following companies would be the least likely to use a job order costing system? A. Before the Amplifier, Inc., a manufacturer of custom made acoustic guitars. B. Sweetwater, Inc., a manufacturer of mass-produced blueberry beverages. C. Rosie the Robot Company, a manufacturer of space age cleaning robots built to customer specifications. D. The Wright Flight Company, a manufacturer of custom built aircrafts. E. The Black Bear Trail, LLC, a builder specializing in one-of-a-kind residential Pacific Northwest cabins.
1. LO 41 Which of the following product situations is better suited to job order costing than to process conting? A Each product batch is exactly the same as the prior batch B. The costs are easily traced to a specific product. C. Costs are accumulated by department D. The value of work in process is based on assigning standard costs. 2. LO 41 A job order costing system is most likely used by which of the following? A. a...
Dillon Products manufactures various machined parts to customer
specifications. The company uses a job-order costing system and
applies overhead costs to jobs on the basis of machine-hours. At
the beginning of the year, the company used a cost formula to
estimate that it would incur $4,170,000 in manufacturing overhead
cost at an activity level of 556,000 machine-hours. The company
spent the entire month of January working on a large order for
8,900 custom made machined parts. The company had no...
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.
Which of the following is not a characteristic of a job order costing system? a. It provides a separate record for the cost of each quantity of product that passes through the factory. b. It accumulates cost for each department within the factory. c. It uses only one work in process account d. It is best suited for industries that manufacture custom goods.
Which of the following companies would be the least likely to use a job order costing system? A. Before the Amplifier, Inc., a manufacturer of custom made acoustic guitars. B. Sweetwater, Inc., a manufacturer of mass-produced blueberry beverages. C. Rosie the Robot Company, a manufacturer of space age cleaning robots built to customer specifications. D. The Wright Flight Company, a manufacturer of custom built aircrafts. E. The Black Bear Trail, LLC, a builder specializing in one-of-a-kind residential Pacific Northwest cabins.
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