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3 years ago

Quince, Inc. uses a process costing system. It prepares a production cost report for each processing department.

Business

1 answer:

Mandarinka [93]3 years ago

7 0

Answer:

It will be used to determine the balance of inventory accounts

Explanation:

A production cost detail shows in detail the total cost of producing a product. It includes raw materials as well as operating costs. Product costs would be recorded as a current asset on the balance sheet until the goods have been sold. As an asset, it can either be:

raw materials inventory,
work-in-progress inventory,
finished goods inventory, which would be dependent on how far towards completion the product is.

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4 years ago

C.B. Management, Inc., had a franchise agreement with McDonald’s Corp., to operate McDonald’s restaurants in Cleveland, Ohio. Th

statuscvo [17]

Answer:

Who is the franchisor? McDonald's

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3 years ago

Which statement describes the word “iterative”?

IrinaVladis [17]

Answer:

Explanation:

The word 'iterative' is derived from the Latin word 'iterare', which means 'to repeat.'

Iterative is a term used to define a process of repetition to attain the desired outcome. It is a repetitive process performed to improve or do better than before.

The statement that correctly defines the term 'iterative' is option D. The statement talks about working in cycles (repetition) to get a desired result of (refined product).

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3 years ago

The accountants at Global Finances can take work home for as many days as they like as long as their spreadsheets are up to date

lorasvet [3.4K]

Answer:

Telecommuting.

Explanation:

This is a flexible work pattern in which employees are allowed to carry out their tasks from homes or other various locations outside the principal office .

It does not mean a total cut off from the office as occasional appearance and constant communication is required .

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The disadvantages include lack of supervision ,isolation and in - effective use of work hours

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3 years ago

he St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% normal production capacity. Production w

OLga [1]

Answer:

$9000 (unfavorable).

Explanation:

Given: Budgeted fixed overhead= $360000.

Actual fixed overhead=$ 360000.

Actual production= 11,700 units.

The variable overhead rate was $3 per hour.

The standard hours for production were 5 hours per unit.

The fixed factory overhead volume variance is difference between actual production volume and budgeted production. It help in measuring the effecient use of fixed resources. It is termed as favourable if actual fixed overhead exceed the budgeted amount, however, it is unfavorable if the actual fixed overhead is less than budgeted amount.

Now, lets calculate the Actual fixed overhead cost.

Actual fixed overhead cost= $\textrm{actual fixed overhead}\times \frac{Actual\ production}{Budgeted\ production}$

∴ Actual fixed overhead cost= $\$ 360000\times \frac{11700}{12000} = \$ 351000.$

Actual fixed overhead cost= $351000.

Next calculating the fixed factory overhead volume variance.

The fixed factory overhead volume variance= $\textrm{Actual fixed overhead cost}-\textrm{budgeted fixed overhead}$

We know, Budgeted fixed overhead= $360000 and Actual fixed overhead cost= $351000

∴ The fixed factory overhead volume variance= $\$351000-\$360000= \$ 9000 (unfavorable)$

The fixed factory overhead volume variance= $9000 (unfavorable)

6 0

3 years ago

​Quince, Inc. uses a process costing system. It prepares a production cost report for each processing department.

Quince, Inc. uses a process costing system. It prepares a production cost report for each processing department.