Process costing system rather than job-order costing system

Assignment Help Financial Accounting
Reference no: EM131260929

For which situation(s) below would an organization be more likely to use a process costing system rather than a job-order costing system? a) a paper mill that processes wood pulp into large rolls of paper. b) a shop that restores old cars to "showroom" quality. c) framing shop that builds picture frames to order for individual customers d) a masonry company that builds customized brick walls, bulkheads, and walkways designed by architects

Reference no: EM131260929

Questions Cloud

The cost per equivalent unit for conversion costs : The following informaiton is used for Questions 2-5 Yoder Corporation uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month: What was the cost pe..
Calculate the inventory cost : On January 15, 20 times 4, Violet Muir valued her inventory at cost. $41,000. Her statements are based on the calendar year, so you find it necessary to establish an inventory figure as of January 1.20 times 4. Calculate the inventory cost as of Janu..
What amount of net gain from discontinued operations : During January 2015, Doe Corp. agreed to sell the assests and product line of its hart division. the sale was completed on January 15, 2016, on that date, Doe recognized a fain on disposal of 900,000. Harts operating losses were 600,000 for 2015 and ..
Process costing system rather than job-order costing system : For which situation(s) below would an organization be more likely to use a process costing system rather than a job-order costing system? a) a paper mill that processes wood pulp into large rolls of paper. b) a shop that restores old cars to "showroo..
Lump-sum purchase of assets and subsequent events : Carter Development Company purchased, for cash, a large tract of land that was immediately platted and deeded into the following smaller sections: Why would Carter be concerned with the value assigned to each section? Would Carter be more concerned w..
Present break-even point in unit sales and in dollar sales : Minden Company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies suggest that the company can increase sales by 5,000 units for each $2 reduction in the selling price. What is the present ye..
Depreciation and cash flow : O'hare Company's only asset as of January 1, 2016, was a limousine. Determine the amount of the net cash inflow for O'hare for 2016. The amount of net income does not equal the amount of the net cash inflow because of. This is a   charge which affect..
Input decreases to net income as negative values : Assume the Blink Company began operations on July 1, 2013. The sole stockholder invested $25,000 in cash and $5,000 of inventory in exchange for common stock. Input decreases to net income as negative values. Upon completion, compare the gross profit..

Reviews

Write a Review

 

Financial Accounting Questions & Answers

  Allocated to the products made in floor mats department

Saylind Molding paid $280,000 in rent for the year. The company's three departments are Headrests, Armrests, and Floor Mats. The accountant has identified two possible cost drivers. The number of employees in each department and the square footage of..

  Declaration and payment of the stock dividend

The dividend shares are issued on December 31. Prepare the entries for the declaration and payment of the stock dividend.

  Income from continuing operations before income taxes

Canton Corporation reported the following items in its adjusted trial balance for the year ended December 31, 2011: Prepare the December 31, 2011, income statement for Canton Corporation, starting with income from continuing operations before income ..

  Find what is the journal entry to record the issuance

Find what is the journal entry to record the issuance of bonds on 1 st January, 2010?

  Question1 the following is a partly completed lower section

question1 the following is a partly completed lower section of a departmental expense distribution spreadsheet for

  Evaluating a young company for a potential investment

You are evaluating a young company for a potential investment and you have visited with the company and met with the CEO and the CFO.

  Evaluate cost of goods sold

Credit Card Company had the following inventory data for the current month and evaluate cost of goods sold and ending inventory for each of the following methods.

  Prepare santana industries statement of cash flows

Prepare Santana Industries' 2016 statement of cash flows, using the indirect method to present cash flows from operating activities.

  What is the market price of face value bond

Wine and Roses, Inc. offers a 9.0 percent coupon bond with semi annual payments and a yield to maturity of 9.78 percent. The bonds mature in 7 years. What is the market price of a $1,000 face value bond?

  Performed based on the level of control

Consolidations must be performed based on the level of control; many companies, however, use different methods for their internal record keeping. In general, what do these entry notations mean? Provide at least one example of a journal entry for one ..

  Manufacturing overhead during the year was over applied

Manufacturing overhead during the year was over applied. If the amount is immaterial, which one of the following is a part of the transaction that should occur to dispose of the over applied amount?

  Fantastic futons manufactures futons

Fantastic Futons manufactures futons. The estimated number of futon sales for the first three months of 2014 are as follows: Finished goods inventory at the end of 2013 was 10,000 units. On average, 25% of the futons to be sold in the next month are ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd