Principles of Cost Accounting
17th Edition
ISBN: 9781305087408
Author: Edward J. Vanderbeck, Maria R. Mitchell
Publisher: Cengage Learning
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Question
Chapter 2, Problem 11Q
a.
To determine
Explain the duties of purchasing agent.
b.
To determine
Explain the duties of receiving clerk.
c.
To determine
Explain the duties of storeroom keeper.
d.
To determine
Explain the duties of production supervisor.
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TYPES OF FILES For each of the following records, indicate the appropriate related file structure: master file, transaction file, reference file, or archive file. a. customer ledgers b. purchase orders c. list of authorized vendors d. records related to prior pay periods e. vendor ledgers f. hours each employee has worked during the current pay period g. tax tables h. sales orders that have been processed and recorded
Chapter 2 Solutions
Principles of Cost Accounting
Ch. 2 - What are the two major objectives of materials...Ch. 2 - Prob. 2QCh. 2 - What factors should management consider when...Ch. 2 - Prob. 4QCh. 2 - What kind of information and data are needed to...Ch. 2 - How would you define the term economic order...Ch. 2 - What kind of information and data are needed to...Ch. 2 - What factors should be considered when determining...Ch. 2 - Prob. 9QCh. 2 - Prob. 10Q
Ch. 2 - Prob. 11QCh. 2 - Proper authorization is required before orders for...Ch. 2 - Prob. 13QCh. 2 - Prob. 14QCh. 2 - Prob. 15QCh. 2 - Prob. 16QCh. 2 - Prob. 17QCh. 2 - Normally, a manufacturer maintains an accounting...Ch. 2 - Prob. 19QCh. 2 - Why do companies adopt the LIFO method of...Ch. 2 - Prob. 21QCh. 2 - Prob. 22QCh. 2 - Prob. 23QCh. 2 - Prob. 24QCh. 2 - Prob. 25QCh. 2 - Prob. 26QCh. 2 - Prob. 27QCh. 2 - Prob. 28QCh. 2 - A manufacturing process may produce a considerable...Ch. 2 - After a product is inspected, some units may be...Ch. 2 - Order Point Pershing, Inc. expects daily usage of...Ch. 2 - Economic order quantity; order cost; carrying cost...Ch. 2 - Economic order quantity; order cost; carrying cost...Ch. 2 - Journalizing materials requisitions Penrose...Ch. 2 - Recording materials transactions Prepare a journal...Ch. 2 - PurrChems raw materials records contained the...Ch. 2 - Using first-in, first-out perpetual inventory...Ch. 2 - LIFO costing Using last-in, first-out perpetual...Ch. 2 - Using the weighted average method of perpetual...Ch. 2 - Prob. 10ECh. 2 - Renfro, Inc. was franchised on January 1, 2016. At...Ch. 2 - Recording materials transactions Craig Products...Ch. 2 - Recording materials transactions Broadwell...Ch. 2 - JIT and cost control Matsui Industries produces...Ch. 2 - Kenkel, Ltd. uses backflush costing to account for...Ch. 2 - For E2-15, prepare any journal entries that would...Ch. 2 - Davis Co. uses backflush costing to account for...Ch. 2 - For E2-17, prepare any journal entries that would...Ch. 2 - A machine shop manufactures a stainless steel part...Ch. 2 - Spoiled work Roger Company manufactures tennis...Ch. 2 - Defective work Herbert Electronics manufactures an...Ch. 2 - Perry Co. predicts it will use 25,000 units of...Ch. 2 - Prob. 2PCh. 2 - Economic order quantity; tabular computation Lopez...Ch. 2 - In P2-3, assume that the company desires a safety...Ch. 2 - Inventory costing methods The purchases and issues...Ch. 2 - Inventory costing methods The following...Ch. 2 - Terrills Transmissions uses a job order cost...Ch. 2 - Prob. 8PCh. 2 - Tuscany Products, Inc. uses a job order cost...Ch. 2 - Prob. 10PCh. 2 - JIT and cost control Langray, Ltd. produces 50,000...Ch. 2 - Backflush costing Russell Corp. uses backflush...Ch. 2 - Webster Company uses backflush costing to account...Ch. 2 - An examination of Buckhorn Fabricators records...Ch. 2 - One of the tennis rackets that Ace Sporting Goods...Ch. 2 - Lloyd Industries manufactures electrical equipment...Ch. 2 - Review Problem for Chapters 1 and 2 UltraLift...Ch. 2 - Financial and Nonfinancial Aspects of Changing to...Ch. 2 - Prob. 2MC
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Similar questions
- An individual who works with and through other people by coordinating their work activities in order to accomplish organizational goals is __. a. a salesperson b. an assembly line worker c. a managerd. a laborerarrow_forwardBriefly discuss the chain of command for someone being hired into an organization as a staff managerial accountant.arrow_forwardAll of the following are examples of managerial accounting activities except ________. A. preparing external financial statements in compliance with GAAP B. deciding whether or not to use automation C. making equipment repair or replacement decisions D. deciding whether or not to use automationarrow_forward
- Which document lists the total direct labor used in a specific job? A. job cost sheet B. purchase order C. employee time ticket D. receiving documentarrow_forwardGive an example of managerial accounting information that could help a manager make the following decision. The manager of a Target store is deciding how many security personnel to employ for the purpose of reducing shoplifting.arrow_forwardJournalizing the entry to record jobs shipped and customers billed would include a credit to A. Cash B. Accounts payable C.finished goods D. Cost of goods soldarrow_forward
- Which of the following is an example of direct labor? Salary of the vice-president of operations Wages of factory security Wages of assembly line personnel Salary of a production managerarrow_forwardIn a job order cost accounting system, when goods that have been ordered are received, the receiving department personnel count, inspect the goods, and complete a a.arrow_forwardCategorize each of the following activities into the expenditure, conversion, or revenue cycles, and identify the applicable subsystem and give examples of each subsystem . a. Preparing the weekly payroll for manufacturing personnel b. Releasing raw materials for use in the manufacturing cycle c. Recording the receipt of payment for goods sold d. Recording the order placed by a customer e. Ordering raw materials f. Determining the amount of raw materials to order?arrow_forward
- Please read Chapter 2 and then answer the following question Describe how a job order cost system can be used for professional service businesses.arrow_forwardIn a job order cost system, a credit to Work in Process Inventory will be accompanied by a debit to: *arrow_forwardQuestion 3 Categorize each of the following activities into the expenditure, conversion, or revenuecycles and identify the applicable subsystem: preparing the weekly payroll for manufacturing personnel releasing raw materials for use in the manufacturing cycle recording the receipt of payment for goods sold recording the order placed by a customer ordering raw materials determining the amount of raw materials to orderarrow_forward
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