Following are several businesses that produce a product or provide a service. Manufacturer of Rolls-Royce automobiles
Question:
• Manufacturer of Rolls-Royce automobiles
• Brick manufacturer
• Interior decorator
• Assisted-living facility
• Manufacturer of household cleaning products
• Producer of a weekly television drama
Required:
(a) For each of the business listed, indicate whether it probably uses job order costing or process costing.
(b) Explain how a company that uses process costing assigns a cost to the inventory that is in process.
(c) In each of the listed businesses, do you believe that cost is the primary determinant of the selling price for the product or service? Explain your answer for each business.
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a Costing Process or Job Order RollsRoyce manufacturer Job order Brick manufacturer Process Interior ...View the full answer
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