Match the type of company with the costing method most likely used. ✓ Printing shop ✓ Steel mill ✓ Huggies diapers manufacturer ✓ Automobile repair shop
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- Choose the most likely used costing system for the industries listed below. choose either process costing or job order costing A costing system used by a chemical manufacturer Drag answer here A costing system used by a tire manufacturer Drag answer here A costing system used by a food processing company Drag answer here A costing system used by an architectural firm Drag answer here A costing system used by a custom home builder Drag answer here A costing system used by a manufacturer of custom furnitureClassify these industries with respect to the type of cost accumulation procedure generally used–job order costing or process costing. a. Meat k. Pianos b. Sugar l. Linoleum c. Steel m. Leather d. Breakfast cereal n. Nylon e. Paper boxes o. Baby foods f. Wooden furniture p. Locomotives g. Toys and novelties q. Office machines equipment h. Coke r. Luggage i. Cooking utensils s. Paint j. Caskets t. Tires and tubesIn which production setting is operation costing most appropriate? a) Custom automobile repair shop b) Landscaping business c) Oil refinery d) Clothing manufacturer I think it's (d) but to make sure,, i need your help..
- A furniture shop has enumerated the following cost determine the classification of the following according to Function (Manufacturing or Non Manufacturing), Traceability (Direct or Indirect ) and Timing Recognition( Product or Period). According to Function Traceability Timing of Recog Plywood Nails Taxes & Licenses Machine Operator Quality Controller InsuranceWhich of the following businesses would most likely use process costing? a. home construction b. flour mill c. website designer d. movie studioWhich company is least likely to use a process costing system? a. Paper manufacturer b. Soft drink bottler c. Accounting firm d. Petroleum processor
- Which method of determining product costs, job-order costing or process costing, would be more appropriate in each of the following situations?a. An Elmer’s glue factory.b. A textbook publisher such as McGraw-Hill.c. An Exxon oil refinery.d. A facility that makes Minute Maid frozen orange juice.e. A Scott paper mill.f. A custom home builder.g. A shop that customizes vans.h. A manufacturer of specialty chemicals.i. An auto repair shop.j. A Firestone tire manufacturing plant.k. An advertising agency.l. A law office.Question Content Area Which of the following would be included in the cost of a product manufactured according to absorption costing? a. sales salaries b. advertising expense c. office supplies costs d. depreciation expense on factory buildingCost Classification Match each cost to the appropriate cost behavior pattern shown in graphs (a) through (l). Any graph can fit two or more patterns. The cost of lumber used to manufacture wooden kitchen tables. The cost of order fillers in a warehouse. When demand increases significantly, the number of order fillers is increased, and when demand falls off significantly, the number is decreased. The salary of the plant’s quality control inspector, who inspects each batch of products. The cost of water and sewer service to the manufacturing plant. The local municipality charges a fixed rate per gallon for usage up to 10,000 gallons and a higher charge per gallon for usage above that point. The cost of an internet connection of $23 per month. The cost of an internet connection of $10 per month plus $2 per hour of usage above 10 hours. The cost to make copies of a given document at a printing shop, where the per-copy charge is reduced for customers who make more than…
- Hankook Company employ new employee and are assigned to make Statement of Cost of Manufactured, Statement of Cost of Goods Sold, and Income Statement. The results attached on picture below Questions : a. Identify the period cost and the total in USD b. If there is something wrong with the income statement above, correct the income statement above so all the item cost is where it should be. c. Calculate the prime costs, conversion costs, manufacturing cost, and the period costStetson Manufacturing builds custom wooden cabinets. Classify the following items as a) what category of product costs and b) whether the item is a prime or conversion cost. Product Costs Prime\Conversion Cost Cost of Hardware (Slides, Handles, etc.) Cost of Wood Depreciation on Production Equipment Factory Property Taxes Factory Rent Glue Production Supervisor Salary Utilities for Factory Wages for Maintenance Workers Wages of Assembly Workers Wages of Finishing WorkersEach of the following cost items pertains to one of these companies: Home Depot (a merchandising-sector company), Apple (a manufacturing-sector company), and Rent a Nanny (a service-sector company): LOADING... (Click the icon to view the cost items.) Read the requirements LOADING... . Requirement 1. Distinguish between manufacturing-, merchandising-, and service- companies. ▼ Manufacturing-sector Merchandising-sector Service-sector companies provide services or intangible products to their customers—for example, legal advice or audits. ▼ Manufacturing-sector Merchandising-sector Service-sector companies purchase materials and components and convert them into different finished goods. ▼ Manufacturing-sector Merchandising-sector Service-sector companies purchase and then sell tangible products without changing their basic form. Requirement 2. Distinguish between inventoriable costs and period costs. Select whether each…