One thing that a process cost system cannot be used for from the given options is Motion pictures.
<h3>What is process costing?</h3>
This is a method of allocating cost that is based on the same item being mass-produced such that there is no discernable difference between the goods that were produced.
Motion pictures cannot be mass produced which is why they cannot use process costing, Every motion picture is unique and so something more specific is needed to apportion their cost.
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Answer:
see below
Explanation:
Opportunity cost is the value of the forfeited benefits as a result of making a decision in a certain way. Decision making involves choosing one item over others. The cost or value of the option not chosen is the opportunity cost. The value of the forfeited option is the opportunity cost.
In choosing to go to the gym, the forgone activity is studying for the economic exam. The benefits associated with studying for the economic test is the opportunity cost. The value attached to the economic test, such as good grades, passing the test, or any reward arising from studying for the test, is the forfeited benefit and hence the opportunity cost.
Answer:
2 years
Explanation:
Payback period is the length of time it takes for the future cash flows to equal the initial investment.
$224,000 = $112,000 + $112,000
therefore,
It takes 2 years for the cashflows to equal initial investment
Answer:
$610,000
Explanation:
According to the midpoint value, we have to find out the mid value of two amount.
As in the question, the sales for 1996 and the sales for 1998 are given and we have to find out the sales for 1997
So, by using the mid point formula approach, the sales for 1997 is
= (1996 sales + 1998 sales) ÷ (Number of years)
= ($500,000 + $720,000) ÷ (2 years)
= ($1,220,000) ÷ (2 years)
= $610,000
Therefore, the estimated sales value of the company for year 1997 is $610,000