ZuoTi.Pro
Question

Which costing system, job order or process, does your employer use? Please describe its major components...

Which costing system, job order or process, does your employer use? Please describe its major components and your understanding of its operation. Does this costing system make sense to you based upon your company’s business operations? Employer is UPMC health plan with insurance.
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Answer)

My employer uses process costing.Monor components are materials costs, labor costs and other direct expenses including overheads. That costing procedure makes me sense because the company for which I am working for produces dairy products and it means production is in large similar components like milk sachets, flavored milk etc. Hence it makes sense as process costing is useful at the time of manufacturing a similar kind of product in large quantities.

0 0
Add a comment
Know the answer?
Add Answer to:
Which costing system, job order or process, does your employer use? Please describe its major components...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Which costing system, job order or process, does your employer use? Please describe its major components...

    Which costing system, job order or process, does your employer use? Please describe its major components and your understanding of its operation. Does this costing system make sense to you based upon your company’s business operations?

  • What are the major differences between job-order costing and process costing systems? Give an example of...

    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. Do not choose companies that your classmates have already commented upon. Participate in follow-up discussion by critiquing your classmates' choices of companies.

  • 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).

  • What are the major differences between job-order costing and process costing systems? Give an example of...

    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 a cost flow in a job order costing system, when does work-in-process become finished goods?...

    For a cost flow in a job order costing system, when does work-in-process become finished goods? when materials, labor, and overhead are applied to finished goods when materials are purchased when the manufacturing is completed when the goods are sold Incorrect Question 8 0/0.5 pts The primary product costs for a service business is none of the above is correct direct materials and direct labor all of the above

  • Data Communication and Web 2.0" Describe the key components of a data communication system. Next, discuss...

    Data Communication and Web 2.0" Describe the key components of a data communication system. Next, discuss the overall manner in which a company uses data communication in order to reduce its operations cost. Include one (1) example of such a reduction in operation costs to support your response. Use the Internet or the Strayer Library to research articles on Web 2.0 technologies and their applications for business. Next, identify two to three (2-3) ways in which a business could apply...

  • Describe the IMPACT cycle. Why does its order of the processes and its recursive nature make...

    Describe the IMPACT cycle. Why does its order of the processes and its recursive nature make sense? What is the purpose of a data dictionary? Identify four different attributes that could be stored in a data dictionary and describe the purpose of each. In the ETL process, one important step to process when transforming the data is to work with NULL, N/A, and zero values in the dataset. If you have a field of quantitative data (e.g., number of years...

  • Garcia, Inc. uses a job-order costing system for its products, which pass from the Machining Department,...

    Garcia, Inc. uses a job-order costing system for its products, which pass from the Machining Department, to the Assembly Department, to finished-goods inventory. The Machining Department is heavily automated; in contrast, the Assembly Department performs a number of manual-assembly activities. The company applies manufacturing overhead using machine hours in the Machining Department and direct-labor cost in the Assembly Department. The following information relates to the year just ended: Machining Department Assembly Department Budgeted manufacturing overhead $ 4,000,000 $ 3,080,000 Actual...

  • Juarez, Inc. uses a job-order costing system for its products, which pass from the Machining Department,...

    Juarez, Inc. uses a job-order costing system for its products, which pass from the Machining Department, to the Assembly Department, to finished-goods inventory. The Machining Department is heavily automated; in contrast, the Assembly Department performs a number of manual-assembly activities. The company applies manufacturing overhead using machine hours in the Machining Department and direct-labor cost in the Assembly Department. The following information relates to the year just ended: Machining Department Assembly Department   Budgeted manufacturing overhead $4,000,000 $3,136,000   Actual manufacturing overhead...

  • Juarez, Inc. uses a job-order costing system for its products, which pass from the Machining Department,...

    Juarez, Inc. uses a job-order costing system for its products, which pass from the Machining Department, to the Assembly Department, to finished-goods inventory. The Machining Department is heavily automated; in contrast, the Assembly Department performs a number of manual-assembly activities. The company applies manufacturing overhead using machine hours in the Machining Department and direct-labor cost in the Assembly Department. The following information relates to the year just ended: Machining Department Assembly Department   Budgeted manufacturing overhead $4,000,000 $3,136,000   Actual manufacturing overhead...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT