What is the difference between the term unit cost as commonly used in a process cost system
Question:
What is the difference between the term unit cost as commonly used in a process cost system and the term job cost as commonly used in a job order system of cost accounting?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (14 reviews)
The term unit cost refers to the average cost of pr...View the full answer
Answered By
Vijesh J
My passion to become a tutor is a lifetime milestone. Being a finance and marketing professional with hands-on experience in wealth management, portfolio management, team handling and actively contributing in promoting the company. Highly talented in managing and educating students in most attractive ways were students get involved. I will always give perfection to my works. Time is the most important for the works and I provide every answer on time without a delay. I will proofread each and every work and will deliver a with more perfection.
4.70+
5+ Reviews
15+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Term Structure what is the difference between the term structure of interest rates and the yield curve?
-
What is the difference between fixed order inter1vahorder up to level model and fixed order quantity/reorder point model? When would each be preferred?
-
What is the difference between process and project work? Why is there often resistance to IS project implementations?
-
A chef in a restaurant that specializes in pasta dishes was experiencing difficulty in getting brands of pasta to be al dente-that is, cooked enough so as not to feel starchy or hard but still feel...
-
Textile manufacturer Fibreright Corp. exchanges robotic equipment with an original cost of $20,000 and a carrying amount of $11,000 with the equipment rental company Frederick Corp. The equipment...
-
A dozen tablet computers, including 2 that are defective, are sent to a computer service center. A random sample of 3 is selected and tested. Let X be the random variable associated with the number...
-
The following arrangement indicates whether 60 consecutive cars which went by the toll booth of a bridge had local plates, \(L\), or out-of-state plates, \(O\) : Test at the 0.05 level of...
-
In Problem, suppose that the objective is to minimize the cost of books and that the student total study time is limited to 12,600 hours. A business student at Nowledge College must complete a total...
-
Assume Lance Corp. has the following reported amounts: Sales revenue $796,000, Sales returns and allowances $23,000, Cost of goods sold $517,910, and Operating expenses $171,600. . When typing your...
-
Describe how companies can use Big Data to gain competitive advantage.
-
What is the primary difference between the two cost accounting systems regarding the accumulation of costs and the calculation of unit costs?
-
How do the two cost accounting systems differ in accounting for each of the following items? a. materials b. labor c. factory overhead
-
The graph of a polynomial f(x) with integer zeros is shown in the figure. Write its complete factored form. Note that the leading coefficient of f(x) is not 1. y = f(x) 23
-
How can social media marketers use social entertainment to meet branding objectives? Why is social entertainment an effective approach for engaging target audiences?
-
What is the minimum number of times a do while() loop will be executed? What is the maximum number?
-
Find a real-world example of a brands social media strategy that is based on an experience. Describe its target audience and effectiveness. How would you vary the experience to apply to the other...
-
What are the forms of organizational structure used by companies embracing social media marketing? What are the pros and cons of each?
-
What is the difference between malloc() and calloc()?
-
In Figure 1, if market price were $140, there would be ______. a) a shortage b) a surplus c) neither a shortage nor a surplus Price ($) 180 160 140 130 120 110 100 Figure 1 S D 20 40 60 80 100 120...
-
For each of the following reactions, express the equilibrium constant: a) H20 (I) H2 (g) + 02 (g) Ke = 1.0x107 b) Fe2 (g) 2F (g) Ke= 4.9 x 10-21 c) C (s) + O2 (g) d) H2 (g) + C2H4 (g) C2H6 (g) Ke =...
-
Consider the Hull-White model dr t = ((t) rt)dt + dW t Find corr ( t , T , u , T ) where t, T = E T t [rT] and t < u < T.
-
DDB Co. uses backflush costing to account for its manufacturing costs. The trigger points are the purchase of materials, the completion of goods, and the sale of goods. Prepare journal entries to...
-
Andre Inc. manufactures tennis clothing. During the month, the company cut and assembled 8,000 skirts. One hundred of the skirts did not meet specifications and were considered "seconds." Seconds are...
-
Julian Manufacturing Co. manufactures an integrated transistor circuit board for repeat customers but also accepts special orders for the same product. Job No. MS1 incurred the following unit costs...
-
A manufacturer reports finished goods inventory of $820 on June 1 and $1,130 on June 30. Cost of goods manufactured for June is $5,460. What is cost of goods sold for June? Cost of Goods Sold Cost of...
-
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as...
-
MyBnB started a home rental company on January 1. As of November 30, MyBnB reported the following balances. The company does not yet have a balance in Retained Earnings because this is its first year...
Study smarter with the SolutionInn App