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Which of the following describes the differences between job-order and process costing?Job-order costing is used in financial accounting while process costing is used in managerial accounting.Job-order costing can only be used by manufacturers; service enterprises must use process costing.Job-order costing is voluntary while process costing is mandatory.Job-order costing traces costs to jobs while process costing traces costs to departments and averages the costs among the units worked on during the period.
the following transactions adjusting entries and closing entries were completed by king furniture co. during a
costs classified as batch-level costs should depend on the number of batches processed rather than on the number of
during your audit of miles company you prepared the following bank transfer schedule miles company bank transfer
kendra companys standard labor cost of producing one unit of product dd is 4 hours at the rate of 14.04 per hour.
the financial statements of m amp j company report net sales of 22 billion. accounts receivable net are 3.1 billion at
true of false questions1. the simple rate of return method explicitly takes depreciation into account.2. the payback
Build up an income statement in good form for Sanford Company for the first three months of 20x3. Provide journal entries for each of the transactions. The numbers in the journal entries can be rounded to the nearest dollar.
stegner inc. reported net income of 130000 for the year ended december 31 2008. the following items were included on
a client operates a small business organized as a sole propreintship and is considering change the business to operate
a companys beginning work in process inventory consisted of 20000 units that were 15 complete with respect to direct
marksbury company is recording a loss in value of its trading securities. the entry to record this change in value
After paying out $225,794 in dividends, the balance went into retained earnings. If the firm's total retained earnings were $846,972, what was the retained earnings on its balance sheet on July 1, 2010?
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