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Citrus2011 [14]
3 years ago
13

Job-order costing would be more likely to be used than process costing in situations where many different products or services a

re produced each period to customer specifications.
A. True
B. False
Business
1 answer:
Elina [12.6K]3 years ago
3 0

Answer:

A. True

Explanation:

It is an accounting that tracks business expenses, expenses and income with "business" and provides standardization of profit. In order to support the accounting system's business value, it must allow the allocation of cost numbers and revenue items separately. A business can be designated as a project for a customer or a single product unit or a group of units of the same type. In the production environment, the application of the cost of labor involves tracking what different types of “direct” labor costs are used, such as direct labor and direct materials, and then allocating jobs (indirect labor, warranty costs, quality control, and other additional costs). . An enterprise profit report is similar to a statement of profit or loss for the firm, but is specific to each business number. Business costs can estimate all the costs associated with the production of "work" or the production of goods produced in separate groups. These costs are recorded in the accounting records reflecting the life or work of the lot and are deducted from the final trial balance until the cost of the work or bulk production report is prepared.

Business costs VS process costs

Business value (also known by some as the cost of a job order) is important for management accounting. This process differs from the cost because more process or job cost tracking depends on the nature of the product and consequently the type of production process:

- The process cost is used when products are more homogenous. Also, costing systems assign different costs to production processes that are significantly different. The average cost of a single product is then calculated for each business.

- Process costing systems assign costs for one or more manufacturing processes. Because all units are the same or very similar, average costs per unit are calculated by dividing operating costs by the number of units produced.

- Many businesses produce products with some unique features and some common processes. These businesses use valuation systems with both business and operating cost values.

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The net increase or decrease in Retained Earnings for a period is recorded by closing entries.
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This undistributed profit account also closes during the accounting period, to clarify how much was generated in a period, they are not like the balance sheet accounts that are cumulative.

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N the united states, who initiates the process of medical care?
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Wilson hires a financial analyst to analyse costs and profits for his cereal production business. The analyst determines that Wi
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Disclaimer- The complete question is

Wilson hires a financial analyst to analyze costs and profits for his cereal production business. The analyst determines that Wilson's eventual profit function is given as pi = 2x ^ 4 - 4x ^ 3 + 7 where x is the number of bags of cereal produced. At what point or number of bags of cereal will Wilson's profit start decreasing?

If the company produces only one 1 bag then the profit of Wilson starts decreasing.

Let  f ( x ) = 2x^4 − 4x^3 + 7

f ′ ( x ) = 8x^3 − 12x^2

For decreasing,  f ′( x ) ≤ 0

⇒  4x^2 ( 2x−3 ) ≤ 0

⇒  2x−3 ≤ 0     ( a s x^2 ≥ 0)

⇒  x ≤ 3/2

Since, x is number of bags

So,  x ∈ N

∴ x = 1 is only possibility

Thus, If the company produces only one 1 bag then the profit of Wilson starts decreasing.

Financial analysis is the process of evaluating a company's performance using financial data and making suggestions for future improvement. The majority of the work done by financial analysts is done in Excel, where they use a spreadsheet to examine past data and predict how the company will perform in the future.

To know more about profit refer:

brainly.com/question/15036999

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