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3 years ago

Which of the following statements is true of a normal costing system?

Business

1 answer:

Keith_Richards [23]3 years ago

3 0

Answer:

Option number 4 is correct,In a normal costing system, unit costs are determined by adding actual direct materials, actual direct labor, and estimated overhead.

Explanation:

This approach to costing that makes use of estimated overhead as against actual overhead is favored by Generally Acceptable Accounting Principles such as the International Financial Reporting Standards(IFRS) and the U.S GAAP in order to derive the unit cost of an item of inventory for financial reporting purposes.

This deviates completely from standard costing where the cost an item is entirely calculated from predetermined material,labor and overhead costs.

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Match each region of Virginia to its main source of income,

Svetach [21]

Answer:

Piedmont ⇒ government jobs. The northern part of Virginia is loaded with federal government workers and federal agencies. Even though the Piedmont region is much larger, its main source of income comes from government jobs mainly located at the northern part (near Washington D.C.)

Appalachian Plateau ⇒ coal mining. Coal is one of Virginia's most valuable natural resources and it is mined in the Appalachian Plateau region (west of the state).

Blue Ridge Mountain ⇒ farming. The major economic activities in the Blue Ridge Mountain region of Virginia include farming, livestock, lumber and tourism.

Coastal Plain ⇒ tourism. The main sources of income include tourism, shipbuilding and military contractors.

Explanation:

Principal economic activities there include livestock raising, farming, tobacco growing, and lumber production. Commercial apple orchards are found in Virginia, Maryland, and Pennsylvania. The Blue Ridge is a major East Coast recreation area noted for its resorts and scenery. The Appalachian Trail winds atop the range.

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2 years ago

Read 2 more answers

Assume J. K. Lumber increases its operating efficiency such that costs decrease while sales remain constant. As a result, given

Mars2501 [29]

Answer:

D) return on equity will increase.

Explanation: Return on equity is a financial term that explains the net income of a business venture. There are several ways through which the return on equity can be improved or increased in business.

(1) Reduction in the cost of operations or production of goods and services

(2) increase in the price of the product etc.

If the cost of producing a given Quantity of goods is reduced with sales remaining constant,THE RETURN ON EQUITY WILL INCREASE AS A RESULT OF THE INCREASE IN NET INCOME DUE TO REDUCED COST OF OPERATIONS OR PRODUCTION OF GOODS.

7 0

2 years ago

Read 2 more answers

2. The Oil Producing and Exporting Countries (OPEC) is an example of A

Lynna [10]

I believe that it is b the cartel

7 0

2 years ago

Fernandez Corporation purchased a truck at the beginning of 2014 for $50,000. The truck is estimated to have a salvage value of

valentinak56 [21]

Answer:

The depreciation for 2014 is $6900

The depreciation for 2015 is $9300

Explanation:

Please see attachment .

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2 years ago

Joe an excutive recieves an email that appears to be from the finicial instution that provides his company credit cards the text

DedPeter [7]

Answer:

Social engineering

Explanation:

Social Engineering is the practice of obtaining confidential information through the intrusion of projected users. It is a technique that certain people must use to obtain accompaniment, access or restrictions in information systems1 that allows them to perform any act that harms or exposes the person or body committed to risk or abuse.

The principle that underpins social engineering is that in any system "users are the weak link".

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2 years ago