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3 years ago

When using process costing, nonmanufacturing costs are ______.

Business

2 answers:

Alik [6]3 years ago

4 0

Answer:

b) expensed during the period

Explanation:

When using process costing, nonmanufacturing costs are expensed during the period.

Elena L [17]3 years ago

3 0

Answer:

b) expensed during the period

Explanation:

Process costing can be defined as a cost accounting method used for assigning manufacturing or production costs to the units of goods produced by a business firm over a specific period of time. It is mostly used by firms that produce a large quantity of homogeneous or similar products on a continuous basis.

Typically, process costing uses more than one Work in Process Inventory account because costing is done at each stage of the production or manufacturing process.

Generally Accepted Accounting Principles (GAAP) can be defined as the set of commonly used accounting standards in the U.S.

This ultimately implies that, the United States of America, Generally Accepted Accounting Principles (GAAP) is the accounting principles, procedures and standard issued by the Financial Accounting Standards Board (FASB) and adopted by the United States of America, Securities and Exchange Commission (SEC).

Under U.S Generally Accepted Accounting Principles (GAAP), when using process costing, non-manufacturing (administrative and selling) costs are expensed on the income statement of the company during the accounting period they were incurred.

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McConnell Corporation has bonds on the market with 12.5 years to maturity, a YTM of 7.3 percent, a par value of $1,000, and a cu

Alex777 [14]

Answer:

Coupon rate will be 3.08%

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3 years ago

You and a friend decide to spend $100 each on concert tickets. Each of you alternatively could have spent the $100 to purchase

Rus_ich [418]

Answer:

The opportunity cost is the cost that is generated by selecting some other alternative. The opportunity cost indicates the value or activity that is foregone to do something else.

In our case, me and my friend decided to go on a concert and concert ticket price is $100.

There are other three alternatives available for me and my friend other than concert:

(i) purchase a textbook worth of $100.

(ii) meal at a highly rated local restaurant

(iii) internet movie downloads

It was given that my next best alternative to the concert is internet movie downloads and my friend's next best alternative to the concert is meal at a highly rated local restaurant.

Hence,

The opportunity cost for me and my friend of the concert tickets that we purchased are internet movie downloads and meal at a highly rated local restaurant, respectively.

8 0

3 years ago

Data concerning Wang Corporation's single product appear below: (Do not round your intermediate calculations.)

Kipish [7]

Answer:

The break-even in monthly dollar sales is closest to $215,000

Explanation:

The break-even point is the level of production at which the costs of production equal the revenues for a product and calculated by using following formula:

Break-even point in units = Fixed expense/(Selling price per unit-Variable expense per unit) = $144,050/($230.00 - $75.90) = 935 units

The break-even in monthly dollar sales = 935 x $230.00 = $215,000

5 0

4 years ago

The gross domestic product (GDP) of the United States is defined as the all in a given period of time. Based on this definition,

masha68 [24]

Answer:

PART-1) The gross domestic product (GDP) of the United States is defined as the market value of all final goods and services produced if within the United States if in a given period of time

PART-2)

1) Excluded. Roadway Motors is a U.S. company, however as it produces the convertible in Germany, the output will be part of the GDP of Germany, not the GDP of the United States

2) Excluded. Since the accountant has provided her services during 2018, the value of those services will be included in 2018 GDP, not in the year 2017 GDP

3) Included. The Zippycar example is straightforward and should clearly count as something produced in the United States in 2015. The gross domestic product (GDP) of the United States refers to the market value of all the final goods and services produced within the United States in a given period of time

4) Included. Although Fastlane is a Japanese company, the sedan is produced within the United States and should be included in the GDP of the United States

5) Excluded. The gross domestic product (GDP) of the United States refers to the market value of all the final goods and services produced within the United States in a given period of time, such as a year or quarter.

8 0

3 years ago

Zhang Industries budgets production of 300 units in June and 310 units in July. Each finished unit requires 4 pounds of raw mate

Mekhanik [1.2K]

Answer:

The budgeted cost of purchases for raw material K for June is 1,212 pounds.

Explanation:

Computation of budgeted cost of purchase for raw material is shown below

= Required production + ending raw material inventory - opening raw material inventory

where,

Required production = June units × required units

= 300 × 4 pounds

= 1,200 pounds

Ending raw material inventory = 30 % of July units × required units

= 30% × 310 units × 4 pounds

= 372 pounds

Opening raw material inventory = 360 pounds

Now, put these values on the above equation

So, raw material purchase = 1,200 + 372 - 360 = 1,212 pound

Thus, the budgeted cost of purchases for raw material K for June is 1,212 pounds.

6 0

4 years ago