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3 years ago

The cost object in a job order system is the and the cost object in a process costing system is the .

Business

1 answer:

nordsb [41]3 years ago

6 0

Answer:

The correct word for the blank space is: specific job; process.

Explanation:

The cost object represents the cost of an object or department for which that cost is assigned. For instance, the repairs department of a dealership is a cost object of the repairs employees and the repair supplies. Cost objects are usually traceable thus are treated as direct costs for accounting purposes.

Then, the cost object of a job order is the specific job assigned; while the cost object of a process costing system is the process itself.

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During the year, Cheng Company paid salaries of $24,000. In addition, $8,000 in salaries has accrued by the end of the year but

Burka [1]

Answer:

Correct answer is D. Credit to Salaries Payable for $8,000

Explanation:

Based on the basic underlying guideliness in accounting, specifically matching principle. All income and expenses should be reported during the period it incurred. Thus, all expenses incurred during the period even though it wasn't paid yet shoud be recorded to the book and that's the moment that the year-end adjusting entry is necessary.

On the above given problem, the salaries paid of $24,000 is presumed to have been recorded in the book already. Because it incurred and paid within the calendar period. In addition, the salaries accrued by the year end needs year-end adjustment to recognize the salaries expense applicable for the period. Journal entry of it is to debit salaries expense and credit salaries payable in the amount of $8,000.

6 0

3 years ago

The 20% off sale is a better deal than the $200 rebate or $150 coupon for the $1,500 dining set. The Porters budgeted $1,250 for

vovikov84 [41]

Answer:20% off is better and it is the only offer which is under the budget.

Explanation:Given,

The original cost of the dining set = $ 1,500,

If there is a off of 20%,

Then the discount on dinning table = 20% of 1500

= $ 300

So, the final amount of the dinning table after 20% off = 1500 - 300 = 1200 < 1250

Thus, it under the budget.

Now, in $ 200 rebate,

The new cost of the dinning table = 1500 - 200 = $ 1300 > 1250,

Thus, it is not under budget.

While, In $150 coupon,

The new cost of the dinning table = 1500 - 150 = $ 1350 > 1250,

Thus, it is not under budget.

5 0

3 years ago

Read 2 more answers

A leader, such as Bill Gates of Microsoft, who can inspire followers above their own self-interests and can have a profound effe

arsen [322]

Answer:

Transformational leadership

Explanation:

Transformational leadership is an authority style that can rouse positive changes in the individuals who pursue. Transformational pioneers are commonly vigorous, excited, and energetic. Not exclusively are these pioneers concerned and associated with the procedure; they are likewise centred on helping each individual from the gathering prevail as well. Through the quality of their vision and character, transformational pioneers can motivate supporters to change desires, judgements, and inspirations to move in the direction of shared objectives.

8 0

3 years ago

Way Cool produces two different models of air conditioners. The company produces the mechanical systems in its components depart

Arlecino [84]

Answer:

Way Cool

1. Overhead Cost per unit for each product line:

Model 145 Model 212

Overhead cost per unit $434.97 $457.59

2. Total cost per unit for each product line:

Model 145 Model 212

Total cost per unit $634.97 $569.59

3. The profit or loss per unit for each model:

Model 145 Model 212

Market price 515.95 303.34

Loss per unit $119.02 $266.25

Explanation:

a) Data and Calculations:

Process Activity Overheads Driver Quantity Components O/H rates

Changeover $ 627,450 Number of batches 890 $705

Machining 379,155 Machine hours 8,050 $47.10

Setups 108,000 Number of setups 60 $1,800

Total $ 1,114,605

Finishing

Welding $ 220,580 Welding hours 4,100 $538

Inspecting 254,200 Number of inspections 820 $310

Rework 47,200 Rework orders 160 $295

Total $ 521,980

Support Purchasing $ 158,600 Purchase orders 488 $325

Providing space 30,900 Number of units 8,400 $3.68

Providing utilities 126,180 Number of units 8,400 $15.02

Total $ 315,680

Additional production information concerning its two product lines follows.

Model 145 Model 212

Units produced 2,800 5,600

Welding hours 800 3,300

Batches 445 445

Number of inspections 510 310

Machine hours 2,750 5,300

Setups 30 30

Rework orders 90 70

Purchase orders 325 163

Model 145 Model 212

Units produced 2,800 5,600

Welding hours $430,400 (800*$538) $1,775,400 (3,300 * $538)

Batches 313,725 (445*$705) 313,725 (445*$705)

Number of inspections 158,100 (510*$310) 96,100 (310*$310)

Machine hours 129,525 (2,750*$47.10) 249,630 (5,300*$47.10)

Setups 54,000 (30*$1,800) 54,000 (30*$1,800)

Rework orders 26,550 (90*$295) 20,650 (70*$295)

Purchase orders 105,625 (325*$325) 52,975 (163*$325)

Total overhead costs $1,217,925 $2,562,480

Units produced 2,800 5,600

Overhead cost per unit $434.97 $457.59

Direct labor and materials 200.00 112.00

Total cost per unit $634.97 $569.59

Market price 515.95 303.34

Loss per unit $119.02 $266.25

4 0

3 years ago

ayback Period Payson Manufacturing is considering an investment in a new automated manufacturing system. The new system requires

algol13

Answer:

a) 3 years

b) 5 years

Explanation:

The new system requires an investment of $1,200,000

The payback period is the number of year whereas the cash inflow is equal to the total investment regardless the present value of cash inflow. It means we don't apply any rate in the calculation/

a) if the even cash flows of $400,000 per year, then the payback period is 3 years ($1,200,000 = $400,000 * 3)

b) The following expected annual cash flows: $150,000, $150,000, $400,000, $400,000, and $100,000. And total cash flows in 5 years is $1,200,000 = total investment $1,200,000

The payback period in this case is 5 years.

3 0

3 years ago

The cost object in a job order system is the ______ and the cost object in a process costing system is the ______.

The cost object in a job order system is the and the cost object in a process costing system is the .