Why should the accountant distinguish between transferred-in costs and additional direct material costs for each subsequent department
Question:
Why should the accountant distinguish between transferred-in costs and additional direct material costs for each subsequent department in a process-costing system?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (14 reviews)
There are two reasons why the accountant should distinguish between tran...View the full answer
Answered By
Branice Buyengo Ajevi
I have been teaching for the last 5 years which has strengthened my interaction with students of different level.
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Cost Accounting A Managerial Emphasis
ISBN: 978-0136126638
13th Edition
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
Question Posted:
Students also viewed these Cost Accounting questions
-
Depine P = (1,3), Q = (2,4), V = (-), 3 line I = P + [v] and l = Q + [V] Find : ) a) d (P. l b) d (Q, l) c) d (l, lr) e) Re, (Q) (reflection of 2 in 1 ) d (re (0), l)
-
The Lloyd Company uses a process costing system There were no units in the beginning workinprocess, 1,400 were started and 1,000 units were completed and transferred out The units at the end of the...
-
A company which operates a process costing system had work-in-progress at the start of last month of 300 units (valued at $1710) which were 60 percent complete in respect of all costs. Last month a...
-
What are the pros and cons of Sephora carrying more than 200 brands of personal care products?
-
An incandescent light-bulb contains a tungsten filament that reaches a temperature of about 3020 K, roughly half the surface temperature of the Sun. (a) Treating the filament as a blackbody,...
-
Use a proof by contradiction to show that there is no rational number r for which r3 + r + 1 = 0. Assume that r = a/b is a root, where a and b are integers and a/b is in lowest terms. Obtain an...
-
The efficiency of self-locking machine is less than 50%. True or False
-
The Paris Bakery has decided to bake 30 batches of its famous beignets at the beginning of the day. The store has determined that daily demand will follow the dishibutius shown in the following...
-
What are mashups? How do they enable social media applications? 5-4. How can social software help harness the wisdom of the crowd? 5-6. How can social software enhance communication? 5-8. What is a...
-
The production manager at a factory manufacturing four types of light fittings (A, B, C and D) on an automated machine is fixing the schedule for the next week on this machine. HEIJUNKA SCHEDULING OF...
-
The standard-costing method is particularly applicable to process-costing situation. Do you agree? Why?
-
Transferred-in costs are those costs incurred in the preceding accounting period. Do you agree? Why?
-
Consider the behavior of the amino acid alanine as a function of $\mathrm{pH}$ shown in the following sequence of reactions. The sequence shown starts at low $\mathrm{pH}$ (high hydrogen ion...
-
You have been asked to attend a home visit to undertake an intake assessment for Bob. Prior to the visit, you conduct a risk assessment to identify any hazards that may pose a risk to Bob, his wife,...
-
An investor is to pay 80, 000 for a property. The investor will then be entitled to receive rental payments at the end of each year for 99 years. The rental payment will be fixed for the first 33...
-
The following scatterplot is created using one of the datasets in the income and housing data in the spreadsheet linked above. 40 35 30 25 20 20 15 10 5 0 500 550 600 650 Which variables are used in...
-
Consider the following boundary layer equation: 1 f"" +=-=ff" subject to boundary conditions: = f = -2s, f' = 0 at n = 0, f' 1 as 400, 0, where denotes differentiation with respect to n and s is the...
-
Juan and Maria Ramiro and Alexandro their 15 year old son, have been renting a townhouse with your agency for the last 3 months. Juan and his wife Maria do not speak or read English well. The Strata...
-
Mexico currently has an annual domestic inflation rate of about 20 percent. Suppose that Mexico wants to stabilize the floating market exchange-rate value of its currency (dollars/peso) in a world in...
-
Selected condensed data taken from a recent statement of financial position of Morino Ltd. are as follows. MORINO LTD. Statement of Financial Position (partial) Other current assets...
-
For the reaction below, r G = 27.07 kJ mol -1 at 298 K. Use this thermodynamic quantity to decide in which direction the reaction is spontaneous when the concentrations ofCH 3 CO 2 H(aq), CH 3 CO 2...
-
Flexible-budget and sales volume variances, market-share and market-size variances. Marron, Inc., produces the basic fillings used in many popular frozen desserts and treats'vanilla and chocolate ice...
-
The Monroe Corporation sets monthly standard costs using a continuous-improvement approach. In January 2012, the standard direct material cost is $45 per unit and the standard direct manufacturing...
-
Rhaden Company produces sweat-resistant headbands for joggers. Information pertaining to Rhaden's operations for May 2011 follows:br> Required1. Compute the sales volume variance for May 2011.2....
-
MM Corp. has 50,000 shares outstanding with share price of $18. It has debt with market value of $300,000. The equity beta is 1.2 and debt beta is 0.1. The risk-free rate is 2% and the market risk...
-
The market is expected to return 15 percent next year and the risk-free rate is 7 percent. What is the expected rate of return on a stock with a beta of 1.3? The covariance of the market's returns...
-
A stock's current price is 145.05. A put option with an exercise price of 120 and maturity of 3 months is currently priced at $ 28.83. What is the option's time value?
Study smarter with the SolutionInn App