developer

  MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 21) Units of production that can be reprocessed and then be sold as finished goods are best known as 21) ______ A) scrap. B) work-in-process. C) normal spoilage. D) abnormal spoilage. E) reworked units. 22) Items with minimal sales value are known as 22) ______ A) reworked units. B) abnormal spoilage. C) ending work in process units. D) scrap. E) spoilage. 23) The costs from Abnormal Spoilage should appear 23) ______ A) either on the balance sheet as part of finished goods inventory, or […]

  SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. 72) Distinguish among spoilage, reworked units, and scrap. Give an example of each.    72) _____________ 73) For each of the following items identify whether it is spoilage, reworked units, or scrap.     _______________a.Defective jeans sold as seconds _______________b.Shavings _______________c.Edges from plastic moldings _______________d.Carpets sold as seconds _______________e.Precision tools that are not built successfully to the necessary tolerance, but which can be successfully converted to a saleable product _______________f.Rock extracted as a result of mining processing _______________g.Complex defective products such as semiconductors […]

  41) What amount of conversion costs are assigned to ending work-in-process for June? 41) ______ A) $188,148.00 B) $141,111.00 C) $126,450.50 D) $215,940.00 E) $101,956.64 42) Carnival Furniture had 60,000 foam cushions in process at May 1 (70% converted) and 40,000 cushions in process at May 31 (50% converted). All direct materials are added at the beginning of the production process. During the month, 140,000 cushions were transferred to finished goods. What is the equivalent units for materials costs for May using the weighted average method? 42) ______ A) 140,000 cushions B) 160,000 cushions C) 118,000 cushions D) 123,000 […]

  MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 21) ________ is a package of two or more products or services, sold for a single price, where the individual components of the package may also be sold as separate items, each with their own stand-alone price. 21) ______ A) A bundled product B) A product package C) Revenue tracing D) Revenue allocation E) A joint product 22) ________ occurs where revenues, related but not traceable to individual products (service, customer, and so on), are assigned to those individual products. 22) ______ A) Revenue […]

TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 1) The allocation of one particular cost must satisfy all four purposes of cost allocation. 1) _______ 2) Indirect costs typically constitute a large percentage of the costs assigned to cost objects. 2) _______ 3) For the economic decision purpose of cost allocation, the costs in all six functions of the value chain should be included. 3) _______ 4) The costs of designing and implementing sophisticated cost allocation systems are usually not very visible. 4) _______ 5) If one is willing to put in the […]