Why is it necessary to treat previous process cost as a separate element of cost in a

Question:

Why is it necessary to treat ‘previous process cost’ as a separate element of cost in a process costing.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Management and Cost Accounting

ISBN: 978-1473748873

10th edition

Authors: Colin Drury

See More Books

Question Posted: Feb 07, 2020 10:53 AM

See More Questions

Why is it necessary to define advertising objectives?
Why is it necessary to count inventory when a perpetual inventory control system is used? Explain. Why is it necessary to count inventory when a periodic inventory control system is used? Explain.
Why is it necessary to calculate a weighted-average contribution margin ratio for a multiproduct company when calculating the break-even point for that company? Why cant all of the products...
If a large chilled water plant has 6 chillers and 5 of them are operating at 1 0 0 % , when the operator starts the 6 th chiller, to what percent do the first 5 chillers unload? What formula do you...
The reaction of thiocyanogen (NPCS±SCPN) with cis-cyclooctene proceeds by anti addition. A bridged sulfonium ion is presumed to be an intermediate. Write a stepwise mechanism for this...
Bon Company has total assets of $1,000,000, liabilities of $400,000, and equity of $600,000. What is its debt ratio? a. 250% b. 167% c. 67% d. 150% e. 40%
Show that during the early part of the electron-positron annihilation era, the ratio of the electron number density to the photon number density scaled with temperature as \[\frac{n_{-}}{n_{\gamma}}...
Table 8.1 contains beta coefficient estimates for six firms and from two different sources. Calculate the expected increase in the value of each firms shares if the market portfolio were to increase...
One way in which economic growth is measured apart from GDP is in Purchasing Power Parity (PPP) terms. The Big Mac Index is the PPP concept applied to the cost of a Big Mac in different countries....
1. Identify the main strategic issues facing ITV. 2. Suggest a number of strategic options that ITV might pursue. 3. Create tables to assess the SAFe of your strategic options (refer to Table 12.1)....
Distinguish between normal and abnormal losses and explain how their accounting treatment differs.
Explain the distinguishing features of a batch/operating costing system.
Sweetwell Co. Ltd has a share capital of 7,00,000 in equity shares of 10 each which are quoted in the market at 20. The company now declares a bonus is to be paid by issue of 40,000 fully paid equity...
Real-World Case 21.2 Monica's best friend Shanna lives out of state and her mom just had a breast biopsy. Shanna calls Monica upset because they have not received the results of the biopsy. Shanna...
Consider the following graph: a d b ge h 1. Can the nodes of the graph be partitioned to create a Bi-Partite Graph? Why or why not? 2. Give a sequence of nodes that comprises and Euler circuit...
Does Texas require a special license for the distribution of alcoholic beverages at private events? Does Texas state law forbid distribution of alcohol to those attending a private event who are...
one of my favorite motivational theories is the Motivation-Hygiene Theory developed by Frederick Herzberg. The theory assesses intrinsic and extrinsic factors as well as job satisfaction, and states...
Write down the Difference and Comparison of Indian Contract Law and Australian contract law Analyse and recommendations ?
Yuen Corporation shows the following financial position and results for the three years ended December 31, 2017, 2018, and 2019 (in thousands): For each year, calculate the current ratio, quick...
A company pledges their receivables so they may Multiple Choice Charge a factoring fee. Increase sales. Recognize a sale. Collect a pledge fee. Borrow money. Failure by a promissory notes' maker to...
A distraught employee, Guy Pirault-Manne, put a torch to a manufacturing plant on a blustery day, 26 February. The resulting blaze completely destroyed the plant and its contents. Fortunately,...
Aran Sweaters Ltd designs and markets wool jumpers to many retailers and distributors around Europe. Its corporate headquarters are situated in Dublin, Ireland. Manufacturing is done by a...
Describe how a given cost item can be both a direct cost and an indirect cost.
A motorist travels 70 mi while driving in a bad rainstorm. In sunny weather, the motorist drives 30 mph faster and covers 130 mi in the same amount of time. Find the speed of the motorist in the...
Using the following information, prepare the following financial statements in good form: Cost of Goods Sold Statement Multi - Step Income Statement Retained Earnings Statement Classified Balance...
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales 2021 $ 559,409 2020 2019 $ 428,553 $ 297,400 Cost of...

Why is it necessary to treat previous process cost as a separate element of cost in a

Question:

Step by Step Answer:

Process costing is an important product costing method for ...View the full answer

Management and Cost Accounting

Students also viewed these Business questions