Which statement concerning process cost accounting is correct?

1 answer:

6 0

I think the answer is C. Individual work in the process accounts are maintained for each production department of manufacturing process.

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A reinforcement is given for the first response after a variable time interval has elapsed in a _____ schedule.

Novosadov [1.4K]

Variable interval schedule

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3 years ago

Roy Company manufactures a product in Departments A and B. Materials are added at the beginning of the process in Department B.

slamgirl [31]

Answer:

Number of equivalent units= 18,000

Explanation:

Giving the following information:

Conversion costs for Department B were 50% complete concerning the 6,000 units in the beginning work in process and 75% complete for the 8,000 units in the ending work in process. A total of 12,000 units were completed and transferred out of Department B during February.

With the information provided, we can calculate the number of equivalent units of the period.

Beginning work in process = 6,000*0.5= 3,000

Units started and completed = 12,000 - 3,000= 9,000

Ending work in process completed= 8,000*0.75= 6,000

Number of equivalent units= 18,000

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3 years ago

Mahogany inc. is a consulting firm. it reports its results on a cash-basis with a fiscal year ending june 30th. mahogany perform

Dimas [21]

If these are the missing choices:
A : the Securities and Exchange Commission, income principle
B : GAAP, revenue recognition principle
C : GAAP, expense recognition principle
D : the IRS, tax principle 

My answer is: B : GAAP, revenue recognition principle

The cash-basis is not in accordance with GAAP, and mahogany is in violation of the REVENUE RECOGNITION PRINCIPLE.

GAAP refers to Generally Accepted Accounting Principle.

It is stated that income must be recognized when it is earned not when cash is received. Because the company is using cash-basis, they will only report income earned on July 12 when they received the money not when they earned it which is before their fiscal year ending June 30.
They should recognized receivables from customers before closing the books for the fiscal year.

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3 years ago

Jesse wants my thoughts on how we can use prototyping for tims. she also wants me to prepare a system requirements document and

svp [43]

When prototyping new products, most people will want a presentation on what the prototype will look like, the functions, the benefits, how it differs from previous products or other companies' products and the pricing. A management presentation is important because it should help break down all the information needed before approval of the new product is approved.

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3 years ago

Which of the following is a contrary indicator?A) odd-lot tradingB) breadth of market and market volumeC) short-interest and the

garri49 [273]

Answer:

Short Interest and the Advance/Decline line

Explanation:

The Short Interest and the advance/descent line, also known as the AD line, is an indicator of market amplitude that gives the same weight to all the values of an index or market. The advance/descent line, also known as the AD line, is an indicator of market breadth that gives the same weight to all the values of an index or market.

The advance / descent line is an indicator of market breadth because it informs us of the general market movement. Similarly, when we say that it gives the same weight to all stock index values, we are saying that for the forward / down line all values are equally important.

What really interests this indicator, being of market breadth, is to see if the price movement is accompanied by the movement of the indicator.

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3 years ago